Global External Storage Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Storage Technique Type;

Police Optical Storage, Solid State Storage, Flash Memory Devices, and External Hard Drives.

By Applications;

Consumer Electronics, Healthcare Devices, Automotive Application, Enterprise Storage, Industrial Applications, and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn036921513 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global External Storage Market (USD Million), 2021 - 2031

In the year 2024, the Global External Storage Market was valued at USD 5,184.15 million. The size of this market is expected to increase to USD 25,180.44 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 25.3%.

The Global External Storage Market is experiencing significant growth as the demand for data storage solutions continues to rise due to the increasing volume of data generated by businesses, governments, and individuals. External storage devices, such as hard disk drives (HDDs), solid-state drives (SSDs), and network-attached storage (NAS), offer scalable, portable, and convenient ways to store and back up data. The rapid digitalization of industries, along with the adoption of cloud computing and big data analytics, has driven the need for robust external storage solutions to handle large amounts of critical data. These devices are also favored for their ability to provide an extra layer of data security, enabling data backup and recovery in case of system failures or cyberattacks.

The market is further boosted by the growing trend of remote working, online content creation, and the increase in consumer electronics, including smartphones, laptops, and gaming consoles, all of which require external storage solutions. As businesses move to digitize their operations, there is a heightened demand for high-performance external storage devices that can store large amounts of data quickly and reliably. Additionally, the growing need for personal data storage and management, particularly for media files such as videos, photos, and music, is propelling the adoption of consumer external storage products. The shift toward SSDs, which offer faster data transfer speeds and greater reliability compared to traditional HDDs, is also a key trend driving the market.

Regionally, North America is one of the largest markets for external storage solutions, driven by the presence of major technology companies, increased investments in IT infrastructure, and widespread adoption of cloud storage solutions. The Asia-Pacific region is expected to see the fastest growth due to the rapid expansion of the digital economy in countries like China, India, and Japan. Increasing internet penetration, e-commerce activity, and the rise in digital content creation and consumption in this region are further driving demand for external storage devices. As organizations and individuals alike continue to generate large volumes of data, the external storage market is expected to grow steadily, with advancements in storage technologies like hybrid storage solutions, AI-driven storage management, and faster interfaces continuing to shape the future of data storage.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Storage Technique Type
    2. Market Snapshot, By Applications
    3. Market Snapshot, By Region
  4. Global External Storage Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Growing demand for data storage solutions
        2. Increasing adoption of cloud services
        3. Expansion of IT infrastructure
        4. Rising data protection regulations
      2. Restraints
        1. Dependence on reliable internet connectivity
        2. Limited awareness in developing regions
        3. Compatibility issues with existing systems
      3. Opportunities
        1. Growth in edge computing
        2. Increased use of blockchain for data security
        3. Adoption of 5G technology
        4. Development of hybrid storage solutions
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global External Storage Market, By Storage Technique Type, 2021 - 2031 (USD Million)
      1. Police Optical Storage
      2. Solid State Storage
      3. Flash Memory Devices
      4. External Hard Drives
    2. Global External Storage Market, By Applications, 2021 - 2031 (USD Million)
      1. Consumer Electronics
      2. Healthcare Devices
      3. Automotive Application
      4. Enterprise Storage
      5. Industrial Applications
      6. Others
    3. Global External Storage Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape Analysis
    1. Company Profiles
      1. Netapp
      2. EMC Corporation
      3. Hewlett Packard Enterprise Development LP
      4. International Business Machines Corporation (IBM)
      5. Toshiba Corporation
      6. Hitachi Data Systems
      7. Seagate Technology LLC
      8. Pure Storage, Inc.
      9. Fujitsu and Huawei Technologies Co.
      10. Dell Inc
  7. Analyst Views
  8. Future Outlook of the Market