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Floppy Disk Liner Market size is poised to expand at a notable pace over 2023-2032, driven by the myriad of advantages.
A floppy disk is a form of magnetic storage solution for computer devices consisting of a thin flexible magnetic disk packed in a plastic carrier. These disks require liners made using nonwoven fabric with high molecular weight resins to ensure complete protection. Due to the growing need for transferring data between computers and laptops, the demand for floppy disks is expected to soar in the near future.
Floppy disk liners are compact in size and show high compatibility with aging technology. They offer benefits such as portability, and cost-effectiveness, among others. There has been a tremendous rise in the penetration of smart technologies, particularly personal computers with a growing preference for remote working models.
Rapid urbanization is a key factor fueling the business prospects of the floppy disk liners industry. According to the World Bank, nearly 7 out of 10 people across the globe are anticipated to live in cities by 2050. Today, majority of the data collection technologies used in urban infrastructure are electronics and consumer devices. However, the availability of floppy disk alternatives such as the operating system path by Device Manager in Windows 11 could impede product demand.
With regards to application, the floppy disk liner market from the desktop segment is expected to escalate by 2032 owing to the surging sales of computers. The advent of digitization and the cloud has allowed a large number of enterprises to operate remotely, spurring remote working requirements including desktops. Moreover, the rapid deployment of next-generation wireless networks and increasing focus on 5G technology will fuel consumer interest in PCs and desktop devices.
On the regional front, the Middle East & Africa floppy disk liner industry will capture sizeable revenue growth by 2032 due to the expanding consumer electronics sector. Countries such as Saudi Arabia, and the UAE have high consumer preferences for secondhand electronic devices along with optimum internet speed. According to the Digital 2021 report, Saudi Arabia had more than 33.58 million internet users in January 2021. Additionally, MEA countries are investing heavily in economic and technological developments, which will positively affect the industry dynamics in the region.
Some of the key competitors in the floppy disk liner market include Samsung Electronics, Western Digital Technologies Inc., Toshiba Corporation, Intel Corporation, Sony Corporation, Lenovo, Kingston Technology Corporation, and Seagate Technology, among others. These companies are primarily focusing on new product launches, acquisitions, and joint ventures to expand their business footprint.
The emergence of the COVID-19 pandemic dramatically catalyzed the digitization of businesses worldwide. Due to very strict lockdown and social distancing norms, employees, as well as students across the globe, switched to online modes of learning and operation, thus accelerating the sales of PCs exponentially. As per survey data from the Harvard Business School, in 2020, approximately 45% of small enterprises and 80% of large businesses adopted work-from-home models in the U.S.
Meanwhile, schools implemented remote education alternatives through e-learning platforms. According to the U.S. Census Bureau, 93% of American households with school-going children embraced remote learning. The growing dependence on internet and technology for both education and work will pave the way for lucrative growth of the floppy disk liners market. Demand for floppy disks will continue to hold significant use across the medical and aviation sector in the forthcoming years owing to applications in old and studier fleets. Moreover, the increasing use of older aircrafts by cargo airlines together with the rising rate of disk transfers is expected to further push the market growth.