The solid state drive market is estimated to register lucrative revenue growth given to the product’s high performance features compared to conventional HDDs. Solid state drives have come up as an effective alternative to conventional mechanical hard disks. The product has fast throughput rates and low read-access times, enabling it to drastically speed up overall computers performance.
Driven by better efficiency and high performance characteristics, the demand for SSDs has skyrocketed over the years, especially to drive applications like big data analytics, smart devices, high graphic games and cloud computing. The solid state drives market size could surpass USD 125 billion by the year 2026.
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With respect to the application spectrum, the enterprise segment has dominated the market over the years. A large number of enterprise applications need power efficiency, high reliability, constant uptime, and high throughput from storage devices. Advancements are imminent in enterprise SSD to meet the growing demand from the IT industry. Enterprise servers require SSD to receive rapid reads and writes in order to serve their client computers at required efficiency.
The coronavirus pandemic has led to an increase in the number of people working from home due to the need to control the number of infections in offices, across the world. This has led to the need for reliable and safe data storage and data transmission solutions in large enterprises. Solid-state drives help data centers to provide superior performance along with a powerful input-output operation for servers and mega clouds. Companies are heavily investing in advanced technologies to meet high-power efficiency needs.
In terms of storage, the industry is classified into above 2TB, 1TB-2TB, 500GB- 1TB and below 500 GB. In 2019, the below 500 GB segment held 70% of the total market share. This segment has witnessed considerable adoption in laptops and PCs as they deliver high levels of security and speed.
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Regionally speaking, Asia Pacific solid state drive market has witnessed considerable growth over the years due to the increase in the establishment of data centers. The region, primarily led by countries like India, China, Japan, South Korea, and Singapore has received heavy investments from foreign companies towards the establishment of data center facilities.
Growing digitalization along with a large amount of data collected from various sectors in these countries is magnifying the demand for a SSDs. Additionally, the rise in demand from the people in the APAC region regarding online services as well as the development of e-governance projects will support the development of data centers.
Some of the notable solid state drive market players providing SSD products and technology worldwide include Micron, ADATA Technology Co. Ltd., SK Hynix Inc., Seagate Technology LLC, KIOXIA America, Inc., and Netapp, among numerous others.
Major Key Points from Table of Content:
Chapter 5. Solid State Drive Market, By Interface (Revenue, Shipments)
5.1. Key trends, by interface
5.2.1. Solid state drive market estimates and forecast, 2016 - 2026
5.3.1. Market estimates and forecast, 2016 - 2026
5.4.1. Market estimates and forecast, 2016 – 2026
Chapter 6. Solid State Drive Market, By Technology (Revenue, Shipments)
6.1. Key trends, by technology
6.2.1. Market estimates and forecast, 2016 – 2026
6.3.1. Market estimates and forecast, 2016 – 2026
6.4.1. Market estimates and forecast, 2016 – 2026
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