Solid State Drive Market is valued at USD 32.5 Billion in 2021 and expected to reach 78.85 Billion by 2028 with a CAGR of 13.50% over the forecast period.
The average storage capacity is predicted to elevate over the coming period owing to popularity of tablets and smartphones, which has permitted users to create huge volumes of digital content and data, thereby powering the market.
Also dubbed as a solid-state disk or an electronic disk, a solid-state drive is a data storage gadget that employs assemblies of added circuit as a memory to amass the info. Unlike hard disk drives, there are no shifting elements in SSDs and they keep hold of data without using power employing the NAND-flash memory processors.
The solid-state drives have different performance advantages, such as multi-tasking ability, higher random access speed, and higher durability & reliability over its traditional peers. SSDs are a better alternative for data hubs as they provide hierarchical storage, high speed, and mass volume due to their non-volatile memory tech. They also offer high-speed bus interface allowing high speed data transfer in enterprise systems.
By type, the market is divided into MLL (Multi-Level Cell), SLL (Single Level Cell), and TLL (Triple Level Cell). By storage interface, the market is divided SAS, SATA, and PCIe. By storage capacity, the market is divided into 251GB to 500GB, less than 250 GB, more than 1 TB, and 501GB to 1 TB. By application, the market is divided into data centers, laptops, PCs, and others. By end-users, the market is divided into industrial, client and enterprise users, and automotive. By region, the market is divided into Asia Pacific, Europe, North America, and the rest of the world.
The major players included in the global solid state drive market forecast are,
Rising Online Commerce Sector And Digitalization Of Daily Activities Are Predicted To Power The Market
The market is expected to attain traction over the coming period, owing to factors such as high performance efficiency & reliability, benefits of solid state drives as compared to hard disk drives, and rising employment of SSDs in data hubs.
Regional regulations such as Restriction of Hazardous Substances (RoHS) and Waste Electrical and Electronic Equipment (WEEE) by European Union and international protocols such as ISO/IEC 27002:2013 and ISO/IEC 27001:2013 control and monitor data security. SSD makers also aim on environmental laws associated with recycling. In UK, the Data Protection Act makes sure that personal info is available only to concerned organizations or people.
Rising online commerce sector, increasing penetration of the Internet, rising volume of media info transfer, and digitalization of daily activities are predicted to power the market. The average storage capacity of household is predicted to elevate over the coming period owing to popularity of tablets and smartphones, which has permitted users to create huge volumes of digital content and data. Rising resolution of movies and images has also resulted in making of huge volumes of digital content and data. This has resulted in increasing requirement for sufficient capacity to amass content.
North America Dominated The Market In Terms Of Income And In Claimed To Maintain The Situation
By region, the market is divided into Europe, North America, South America, Asia Pacific, and Middle East and Africa (MEA). North America dominated the market in terms of income and in claimed to maintain the situation. The rate of restoring hard disk drives with solid state drives is more in North America as compared to other areas. Moreover, SSD manufacturers in the area are aiming on product innovation and differentiation to elevate their revenue and geographical reach. This will additionally assist pace requirement for SSDs in North America.
Market by Regional Analysis
Middle East and Africa
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 32.5 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||13.50%|
|Market Size Expected in 2028:||USD 78.85 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Micron Technology, Inc.Intel Corporation,Seagate Technology PLC,Samsung Electronics Co., Ltd,Western Digital Corporation.|
|Segments Covered||By Interface, By Form Factor ,By Technology ,By End-User|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|