UAE External Hard Drive Market Forecast Report, 2024-2029: Smart City Vision and Growing Tech Sector Fuel Dubai’s Expanding Market for High-Performance External Hard Drives

Dublin, Nov. 15, 2024 (GLOBE NEWSWIRE) — The “UAE External Hard Drive Market, By Region, Competition, Forecast & Opportunities, 2019-2029F” report has been added to ResearchAndMarkets.com’s offering.

The UAE External Hard Drive Market was valued at USD 63 million in 2023 and is expected to reach USD 129 million by 2029 with a CAGR of 12.63% during the forecast period.

The demand for external hard drives is driven by increasing data storage needs across consumer and professional segments, particularly as digital content creation, gaming, and multimedia consumption continue to grow. Additionally, the rise in remote work and the need for secure and portable data storage solutions contribute to market expansion. The market is characterized by competition among leading technology companies, who focus on innovations in capacity, speed, security features, and compact designs to differentiate their products. The adoption of cloud storage solutions presents both a challenge and an opportunity, influencing market dynamics as users balance between cloud and physical storage options.

Dubai held the largest market share in 2023. Dubai’s position as a global business and financial center drives significant demand for external hard drives. The city is home to numerous multinational corporations, startups, and tech companies that require robust data storage solutions to manage their extensive digital assets. The high concentration of businesses and the growing trend of digital transformation within these enterprises contribute to the demand for external hard drives, which are essential for data backup, security, and portability.

Dubai’s rapidly expanding technology sector and innovation ecosystem foster a strong market for external hard drives. The city’s focus on becoming a smart city and its investments in advanced technologies, such as artificial intelligence and big data, increase the need for reliable storage solutions. As businesses and consumers adopt these technologies, they require high-capacity and high-performance external hard drives to manage and store large volumes of data efficiently. Additionally, Dubai’s affluent consumer base drives the demand for high-quality external hard drives. The city’s tech-savvy population, coupled with the increasing use of digital media, gaming, and content creation, fuels the need for advanced storage solutions. External hard drives are popular among consumers for managing personal data, including high-resolution photos, videos, and extensive digital libraries.

The robust retail infrastructure in Dubai, including numerous electronics stores and e-commerce platforms, also supports the market’s growth. The availability of a wide range of external hard drive options and competitive pricing enhances consumer access and choice, further reinforcing Dubai’s dominance in the UAE market.

Key Companies Profiled in this UAE External Hard Drive Market Report:

• Seagate Technology LLC
• Western Digital Corporation
• Toshiba Corporation
• Samsung Electronics Co. Ltd.
• Fujitsu Limited
• ADATA Technology Co. Ltd.
• Transcend Information Inc.
• Intel Corporation

Key Market Drivers

• Growing Data Generation and Storage Needs
• Expanding Digital Infrastructure and Smart City Initiatives
• Increasing Adoption of High-Resolution Content
• Growth of the Small and Medium Enterprises (SME) Sector

Key Market Challenges

• Competition from Cloud Storage Solutions
• Technological Obsolescence and Rapid Advancements

Key Market Trends

• Growing Demand for High-Capacity Drives
• Increased Focus on Portability and Durability

Report Scope

In this report, the UAE External Hard Drive Market has been segmented into the following categories:

By Form Factor

By Application

• Mobile
• Consumer Desktop
• Enterprise
• Nearline
• Others

By Capacity

• Less than 1TB
• 1-5TB
• Above 5TB

By Interface

• USB 3.0
• USB 2.0
• Thunderbolt
• USB-C

By Region

• Dubai
• Abu Dhabi
• Sharjah
• Rest of UAE

Key Attributes

For more information about this report visit https://www.researchandmarkets.com/r/py9hd6

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• UAE External Hard Drive Market