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Global Heat-Assisted Magnetic Recording Device Market growing at a CAGR of 37.10% from 2023 to 2031

Category : Semiconductor And Electronics | Published Date : Sep 2023

Key Market Overview

The Global Heat-Assisted Magnetic Recording Device Market was valued at USD 23.51 Million in 2022, projected to grow by USD 31.17 Million in 2023, and is expected to register a compound annual growth rate of 37.10% to reach USD 389.15 Million in 2031.

The report highlights the increasing adoption of heat-assisted magnetic recording device in applications including data centre servers and desktops among others. Consegic Business Intelligence provides an inclusive research report on the heat-assisted magnetic recording device market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.

Global Heat-Assisted Magnetic Recording Device Market By Overview

Global Heat-Assisted Magnetic Recording Device Market

The report analyses significant segments such as sales channel, application, and region, to identify emerging trends and potential opportunities. The application segment is expected to grow due to the increasing adoption of heat-assisted magnetic recording devices in data center severs for storing large volumes of data and electronic information. Moreover, the rising utilization of heat-assisted magnetic devices in desktops, attributing to its higher data densities and high storage capacities within a smaller physical footprint is expected to drive the market growth during the forecast period.

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Market Dynamics

Driver:

 

  • Rising expansion of data centres is driving the market growth.
  • A surge in cloud computing, Internet of Things (IoT), and big data deployment is spurring the market growth.

 

Restraints:

  • Rising adoption of solid-state drives (SSDs) is restraining the market growth.

Market Segmentation:

Report Attributes Report Details
By Sales Channel Direct Sales and Distributor Sales
By Application Laptops/Notebooks, Desktops, Servers, and Others
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The global heat-assisted magnetic recording device market is highly competitive due to the presence of major players such as Seagate Technology LLC, TDK Corporation, Western Digital Corporation, Showa Denko K.K., and others operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in heat-assisted magnetic recording device market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.

  • Seagate Technology LLC
  • TDK Corporation
  • Western Digital Corporation
  • Fujitsu
  • Showa Denko K.K.