By the end of 2020, hard disk drives are expected to complement almost all storage capacity requirements for cloud computing applications – with some of this data likely to be stored in magnetic tapes. Manufacturers and suppliers can gain profits by offering their hard disk drive storage solutions and services to developing countries in Latin America, Northern Africa, and the Middle East owing to ever-increasing Big Data volume, automation, cyber threats, demand for reduced downtime, and adoption of long-term data archival solutions.
Owing to persistent ransomware attacks on networks of various organizations, customers have started procuring efficient magnetic storage technologies. Presence of an air gap acts as a security measure that isolates hard disk drives and prevents them from establishing external network connections. This prevents the information stored on these tapes from falling prey to cyber-attacks, as they are not connected to the enterprise network, at least when switched off. Hard disk drive storage technology also trumps cloud infrastructure in this condition. Offline functionality of hard disk drive storage technology will thus bolster growth of the global hard disk drive market during the forecast period.
Manufacturers in the hard disk drive market are focusing on enhancing data storage capacities to efficiently cater to massive digital data volumes. The relatively low availability of digital storage capacities will however continue to create a sizeable digital gap throughout the forecast period. The insatiable demand for enhanced data storage capacities in hard disk drives would thus restrict the market growth to a large extent in the near future.