According to a recently released Future Market Insights study, the Solid State Drive Market is expected to generate revenues of US$ 37.6 billion in 2021 and rise at a CAGR of 10% from 2022 to 2032. The market is anticipated to reach US$ 113 billion worth by the end of 2032.
Throughout the anticipated era, rising social media usage, expanding online sales, and an increase in media content have all had a substantial impact on the SSD industry. The ordinary household’s storage consumption is anticipated to increase in the next years due to the widespread use of tablets and smartphones, which have allowed users to generate enormous volumes of digital data. There is consequently a rising need for enough storage.
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Additionally, it has been noted that the use of SSDs in data centers has been rising as a result of several developments in enterprise-level SSD stability and performance as well as enhanced efficacy in comparison to traditional HDD storage. Businesses favor SSDs because they use less energy, which allows for less dispersion and has a less negative impact on the environment.
Key Takeaways from the Market Study
- The global SSD Market is estimated to reach a market size of US$ 43.4 Bn by 2022.
- In terms of Interface Type, revenue through SATA SSD is expected to account for the largest share.
- In terms of End-user, revenue through the Enterprise SSD segment is expected to account for more than 10%, during the forecast period.
- The market in China is projected to grow at the fastest CAGR of 11%, during 2022 – 2032.
Competitive Analysis
Since the market’s entry barriers are high, it is difficult for new firms to enter. The market’s existing suppliers are substantially spending on research and development to improve their existing portfolio. The top solid-state drive manufacturers include Intel Corporation, Samsung Group, Micron Technology, Inc., Toshiba Corporation, Western Digital Corporation, Inc., ADATA Technology Co. Ltd., Transcend Information Inc., Kingston Technology Corporation, SK Hynix Inc., and Teclast Electronics Co., Limited.
Some of the recent developments in Solid State Drive Market are as follows:
- In February 2021, Seagate introduced the FireCuda 120 SATA SSDs. It has a sequential read/write speed of 560/540 MB/s. It has capacities ranging between 500GB to 4TB. It is intended for gamers and offers speed, durability, and large storage.
- In April 2021, Samsung introduced a new business SSD with improved performance. They produced a high-performance industrial solid-state drive that covers the most recent Serial ATA (SATA) interface. According to Samsung, the PM1653 is the industry’s first 24G SAS SSD manufactured that uses sixth-generation V-NAND memory devices, with storage capacities starting from 800 GB to 30.72 TB for corporate server systems. A high-speed data transfer link such as SAS SSD is utilized in servers and large computer storage devices.
- In March 2021, Western Digital announced the release of various new consumer-oriented compact SSDs with 4TB Storage under the WD, SanDisk, and WD Black brands. The latest 4TB SSDs are intended for gamers, multimedia makers, and creative workers that want more storage. The WD Black has read rates of up to 2000 MB/s and is compatible with PC, PlayStation, and Xbox One game collections.
Market Segments Covered in SSD Market Analysis
By Type:
- External
- Internal
By Interface Type:
- SATA SSD
- SAS SSD
- PCI-E SSD
By Form Factor:
- 1.8”/2.5”
- 3.5”
- M.2
- U.2
- FHHL/ HHHL
By Storage:
- Under 500 GB SSD
- 599 GB – 1 TB SSD
- 1 TB – 2 TB SSD
- Above 2 TB SSD
By Application:
- Enterprise SSDs
- Client SSDs
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Table of Content
1. Executive Summary | Solid State Drive Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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