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IndexBox has just published a new report: U.S. - Data Storage Devices - Market Analysis, Forecast, Size, Trends and Insights.
The data storage device market in the United States is projected to experience a slight increase in performance, with a forecasted CAGR of +5.9% in volume terms and +6.6% in value terms from 2024 to 2035. By the end of 2035, the market volume is anticipated to reach 48 million units, with a market value of $16.9 billion in nominal prices.
Driven by rising demand for data storage device in the United States, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +5.9% for the period from 2024 to 2035, which is projected to bring the market volume to 48M units by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +6.6% for the period from 2024 to 2035, which is projected to bring the market value to $16.9B (in nominal wholesale prices) by the end of 2035.
For the fourth consecutive year, the United States recorded decline in consumption of data storage devices, which decreased by -33.2% to 26M units in 2024. In general, consumption showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 5.8% against the previous year. Data storage device consumption peaked at 261M units in 2013; however, from 2014 to 2024, consumption failed to regain momentum.
The revenue of the data storage device market in the United States rose sharply to $8.4B in 2024, growing by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a abrupt downturn. Over the period under review, the market attained the maximum level at $15.2B in 2013; however, from 2014 to 2024, consumption failed to regain momentum.
In 2024, approx. 22M units of data storage devices were produced in the United States; reducing by -7.5% against the previous year. Over the period under review, production continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2019 with an increase of 31%. Over the period under review, production attained the maximum volume at 65M units in 2013; however, from 2014 to 2024, production stood at a somewhat lower figure.
In value terms, data storage device production reduced slightly to $4.8B in 2024. Overall, production continues to indicate a drastic downturn. The growth pace was the most rapid in 2019 with an increase of 8.3% against the previous year. Over the period under review, production attained the peak level at $9.1B in 2013; however, from 2014 to 2024, production failed to regain momentum.
In 2024, overseas purchases of data storage devices increased by 12% to 42M units for the first time since 2020, thus ending a three-year declining trend. Overall, imports, however, saw a deep downturn. Over the period under review, imports hit record highs at 240M units in 2013; however, from 2014 to 2024, imports remained at a lower figure.
In value terms, data storage device imports skyrocketed to $9.6B in 2024. In general, imports, however, saw a noticeable curtailment. Over the period under review, imports attained the peak figure at $12.2B in 2013; however, from 2014 to 2024, imports failed to regain momentum.
In 2023, Thailand (27M units) constituted the largest data storage device supplier to the United States, with a 71% share of total imports. Moreover, data storage device imports from Thailand exceeded the figures recorded by the second-largest supplier, the Philippines (3.8M units), sevenfold. The third position in this ranking was taken by China (3.4M units), with a 9.1% share.
From 2013 to 2023, the average annual growth rate of volume from Thailand totaled -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (-10.9% per year) and China (-30.7% per year).
In value terms, Thailand ($4.4B) constituted the largest supplier of data storage devices to the United States, comprising 59% of total imports. The second position in the ranking was taken by the Philippines ($452M), with a 6.1% share of total imports. It was followed by Taiwan (Chinese), with a 3.3% share.
From 2013 to 2023, the average annual rate of growth in terms of value from Thailand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (-2.2% per year) and Taiwan (Chinese) (-3.6% per year).
In 2023, the average data storage device import price amounted to $199 per unit, rising by 1.6% against the previous year. Overall, the import price recorded a strong increase. The growth pace was the most rapid in 2022 an increase of 27% against the previous year. The import price peaked in 2023 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($163 per unit), while the price for China ($60 per unit) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+25.7%), while the prices for the other major suppliers experienced more modest paces of growth.
In 2024, overseas shipments of data storage devices increased by 71% to 38M units, rising for the second year in a row after three years of decline. Over the period under review, exports, however, saw a mild downturn. Over the period under review, the exports reached the peak figure at 44M units in 2014; however, from 2015 to 2024, the exports stood at a somewhat lower figure.
In value terms, data storage device exports soared to $5.9B in 2024. Overall, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $6.1B in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.
Mexico (9.7M units) was the main destination for data storage device exports from the United States, accounting for a 44% share of total exports. Moreover, data storage device exports to Mexico exceeded the volume sent to the second major destination, Hong Kong SAR (3.1M units), threefold. The third position in this ranking was taken by Canada (934K units), with a 4.2% share.
From 2013 to 2023, the average annual growth rate of volume to Mexico totaled -9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+10.3% per year) and Canada (+1.3% per year).
In value terms, Mexico ($1.5B) remains the key foreign market for data storage devices exports from the United States, comprising 30% of total exports. The second position in the ranking was taken by Canada ($463M), with a 9.2% share of total exports. It was followed by the Netherlands, with a 5.7% share.
From 2013 to 2023, the average annual growth rate of value to Mexico amounted to -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-7.3% per year) and the Netherlands (-0.1% per year).
In 2023, the average data storage device export price amounted to $226 per unit, dropping by -12% against the previous year. Over the period under review, export price indicated a temperate increase from 2013 to 2023: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, data storage device export price increased by +48.1% against 2019 indices. The most prominent rate of growth was recorded in 2022 when the average export price increased by 29%. As a result, the export price attained the peak level of $257 per unit, and then declined in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($788 per unit), while the average price for exports to Paraguay ($59 per unit) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.
Source: IndexBox Market Intelligence Platform
This report provides an in-depth analysis of the data storage device market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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