The latest research study “Solid State Drive (SSD) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global solid state drive (SSD) market size reached a value of US$ 37.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 95.51 Billion by 2027, exhibiting a CAGR of 15.60% during 2022-2027.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
A solid-state drive (SSD) is an integrated, non-volatile data storage device that stores persistent visual data by utilizing amalgamated circuits as memory. It is portable, faster, more physically shock-resistant, and has a lower data access latency than hard disk drives (HDDs). It comprises interconnected microchips instead of spinning discs that help access memory by significantly reducing startup time. It also generates less heat, which extends the life of big data, provides video-on-demand services, and performs faster data reads and writes while consuming minimal power. As a result, SSD finds extensive applications across enterprises for enhancing overall operational performance by reducing mechanical failures.
Solid State Drive (SSD) Market Trends and Drivers:
The global solid state drive (SSD) market is primarily driven by the rising demand for effective data storage solutions among organizations for performing file backup and archiving data. Moreover, the increasing penetration of high-end cloud computing interfaces is another major growth-inducing factor.
Besides this, the rising product applications due to the growing number of computer crashes and cyberattacks, which can result in file deletion and provide data access to unauthorized users, have augmented the SSD demand. Additionally, the leading manufacturers are introducing peripheral component interconnect express (PCIe) and non-volatile memory express (NVMe) interfaces that provide high-performance services with higher frequency.
In line with this, the surging product adoption across data-sensitive sectors, such as financial institutions and data centers, has catalyzed market growth. Other factors, including ongoing research and development (R&D) activities, increasing utilization of SSD in numerous industry verticals, and a growing number of cloud platforms, are also anticipated to propel the market growth.
Global Solid State Drive (SSD) Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
ADATA Technology Co. Ltd., Corsair Gaming Inc., Kingston Technology Corporation, KIOXIA Holdings Corporation, Micron Technology Inc., Samsung Electronics Co. Ltd., Seagate Technology LLC, SK hynix Inc., Toshiba Corporation, Transcend Information Inc. and Western Digital Corporation.
The report has segmented the market on the basis of region, type, interface, form factor, storage and application.
Breakup by Type:
- External
- Internal
Breakup by Interface:
- SATA
- SAS
- PCIe
Market Breakup by Form Factor:
- 8”/2.5”
- 5”
- 2
- 2 (SFF 8639)
- FHHL and HHHL
Breakup by Storage:
- Under 500 GB
- 500 GB–1 TB
- 1 TB–2 TB
- Above 2 TB
Breakup by Application:
- Enterprise
- Client
- Others
Market Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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