Solid State Drive Market Size, Share, Industry Analysis, Opportunities and Trends | SSD Market to Hit USD 50.72 Billion by 2023

Solid State Drive (SSD) Market Research Report, By type (SSL, MLL, TLL), By Storage Interface (SATA, SAS, PCIe), By Storage Capacity (<250GB, 251GB-500GB, 501GB-1TB, >1TB), By Application (PCs, laptops, Data Centers), By End-user (Enterprise SSDs, Client SSDs) - Forecast till 2027

Solid State Drive Market Research Report- Forecast till 2027

Market Highlights

Solid State Drive (SSD) Market has an aggregate of USD 21.78 Billion every 2017, except it is projected to ascend by USD 50.72 Billion by 2023, with a build yearly development rate (CAGR) of 15.13% during the assessed period. Solid-state drives (SSDs) are next-generation storage devices that stores data on interconnected flash-memory chips with the same functionality as a hard drive. Integration of SSDs in latest laptops is evidence of its rising popularity.

Rise of data transfers, expansions in e-commerce, and advances driven by digitization of data can drive the market growth significantly. Large number of architectures for supporting SSDs such as PCIe, NVMe, and others with high data transfer speeds and low latency have attracted interest among large multinational corporations.

The COVID-19 outbreak affected the production schedule of SSD production owing to its shutdown initiated by major nations. But automation of processes has allowed the company to bounce back to its normal levels.

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By interface, the market is segmented into PCIe, SAS, and SATA. The PCIe interface can exhibit a stellar growth rate. This is attributed to various hardware components being compatible with PCIe standard SSDs. On the other hand, the SATA drives can also capture a large market share owing to its low-cost interface design and fast data transfer speeds.

By form factor, it is segmented into FHHL and HHHL, 2 (SFF 8639), 2, 5”, and 8/2.5”.

By storage, it is segmented into under 500 GB, 500 GB-1 TB, 1 TB-2 TB, and above 2 TB.

By technology, it is segmented into TLC 3D, TLC planar, MLC 3D, MLC planar, and SLC. The TLC planar technology is projected to rein huge revenues for the solid-state drive market owing to improvements in cost per data bit in NAND and high data retention rate of the SSDs.

By end-user, it is segmented into automotive, industrial, client, and enterprise. Enterprises are touted to be the biggest end-user of the SSD market owing to requirements of high throughput, power efficiency, constant uptime, and reliability. On the flip side, clients can trigger huge demand owing to preference of large and robust data storage options. Heavy use of laptops and personal computers can increase the demand in the segment.

Regional Analysis:

The essential world Solid State Drive market is projected to grow at an essential rate during the assessed period from 2018 to 2023. The North American locale is projected to lead the SSD market because of rising interest for present-day and proficient figuring frameworks, essential reception of distributed computing, and heightening enormous information examination. Asia-Pacific is the major and greatest market attributable to the more popularity from nations like China, Taiwan, India, and Japan. The essential market in this area is shown by the expanding utilization of distributed computing in associations and the improvement of server farms.

Industry News:

April 2021 - Samsung dispatches new endeavor SSD with redesigned execution. They delivered a high-performing undertaking strong state drive (SSD) that upholds the most recent Serial connected SCSI (SAS) interface. The PM1653 is the business' first 24G SAS SSD made with 6th era V-NAND memory chips, as indicated by Samsung, with its capacity limit going from 800 gigabytes to 30.72 terabytes for big business server frameworks. SAS is a high-velocity information move interface utilized for servers or capacity gadgets for enormous PCs.

March 2021 - Western Digital reported the forthcoming send-off of a few new purchaser-situated versatile SSDs with 4TB limits, with new contributions from the SanDisk, WD, and WD_Black brands. The new 4TB SSDs are intended for gamers, content makers, and innovative experts who need extra room to work with. For gamers, the WD_Black presents read rates to 2000MB/s, and it is viable with PCs, PlayStations, and Xbox One game libraries. It will be accessible later this quarter for USD 750.

Competitive Analysis

Lite-On, Google, Western Digital, Toshiba, Samsung, Micron Technology, Inc., Intel, Kingston Technology, OCZ, Fusion-io, NetApp, SanDisk, and IBM are key players of the solid state drive (SSD) market. Investments in R&D and awareness of improving technology are part of new strategies by these companies to expand their customer base and launch new products.

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Solid State Drive (SSD) Market Research Report, By type (SSL, MLL, TLL), By Storage Interface (SATA, SAS, PCIe), By Storage Capacity (<250GB, 251GB-500GB, 501GB-1TB, >1TB), By Application (PCs, laptops, Data Centers), By End-user (Enterprise SSDs, Client SSDs) - Forecast till 2027

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