solid-state drive (SSD) market is projected to witness growth at a CAGR of 15.0%
during the forecast period of 2021-2030.
A solid-state drive (SSD), also referred to as a
solid-state disk, is a nonvolatile media and information storage device that
stores data on solid-state flash memory. It utilizes integrated circuits as a
memory for data storage and keep the data safe. Unlike HDDs, SSDs do not
require any consistent movements to make sure that the information is being
written on or stored on the storage device.
Few of the benefits SSDs provide include increased
reliability & durability, enhanced random-access speed, huge multi-tasking
capacity, easier to carry and install, faster data reads and writes, less power
consumption and noise, video-on-demand service, advanced hierarchical storage,
voluminous mass space and more secure data storage experience. As a result,
SSDs are being increasingly preferred over HDDs and are also anticipated to
replace them in the near future.
Factors such as the burgeoning demand for data storage
on the global level, the growing penetration of high-end cloud computing among
several enterprises and consumers, the rising adoption and demand of SSDs in
data centers, the advantages of SSDs over HDDs, the escalating number of
continuous advancements in SSD technologies to enhance performance and
capabilities and the increasing investments in R&D activities by major
players are primarily driving the growth of the global solid state drive (SSD)
Over the last few years, the preference and demand for
cloud computing has tremendously risen among enterprises and consumers for the
purpose of backing up and archiving their data. With the emerging number of
cloud platforms, the demand for SSDs has also been gaining traction. Major technological
improvements have also been witnessed in solid-state storage in the recent
years. SSDs featuring new interfaces such as PCIe, NVMe, and others have been
one of them. PCIe SSDs are becoming increasingly popular due to enhanced capabilities.
They provide outstanding performance with reduced latency and high frequency with
enhanced features that boost their adoption for cloud computing, which adds to
the growth of the global solid-state drive (SSD) market.
Additionally, the adoption of solid-state drives (SSD)
in the automotive industry is also surging at a tremendous pace for next
generation connected cars and infotainment passenger vehicles. SDDS are used to
meet the requirements for data storage, communications and high-performance
graphics in connected car applications. They also offer flash storage solution
that helps to deliver high-performance storage and reliability in various
in-vehicle applications including entertainment system, navigation system, driver
assist technology, and 3D mapping. Thus, the increasing demand for automotive
infotainment systems and next-generation connected cars is expected to boost
the growth of the solid-state drives in the forthcoming years.
In order to cater to the high demand from customers all
across the globe, the manufacturers in the market are seen to be emphasizing on
product innovation and differentiation in SSDs. Along with increasing their
storage capacity in solid-state drives, they are also coming up with several
other technological advancements in the market.
Furthermore, the integration of 3D NAND technology with
TLC which aids customers with data storage requirements; the increasing production
capacities of the leasing players; the escalating initiatives for deployment of
5G technology in emerging nations; the growing demand from consumer electronics
products; the soaring penetration of the Internet and the expanding e-commerce
market are expected to further create ample growth opportunities for the global
solid-state drive (SSD) market during the forecast period.
However, factors such as the growing concerns regarding
security and the high cost and smaller life span of SSDs may restrain the
growth of the market to a certain extent during the forecast period.
SOLID STATE DRIVE (SSD) MARKET SEGMENTATION
By End User
80 GB and Below
81 GB to 230 GB
231 GB to 500 GB
501 GB to 1 TB
1 TB and Above
By Form Factor
U.2 (SFF 8639)
FHHL and HHHL
Middle East and Africa
Based on end-user, the client SSDs segment accounted
for over 66.0% of the market share in the global solid state drive market in
2020. The segment is anticipated to further retain its dominance in the market
over the forecast period on account of the rapidly increasing content and
digital data generation, the rising consumer preference for modern and advanced
computing devices and the soaring number of mobile devices across the globe.
Based on technology, the TLC Planar segment captured
the largest share in the global solid-state drive (SSD) market in 2020. The
trend is expected to continue over the forecast period. The growth of the
segment can be attributed to factors such as the growing adoption of TLC Planar
in consumer applications due to reduced costs and high storage density and the
escalating developments in 3D NAND technology.
Based on interface, the SATA segment accounted for the
largest share in the global market in 2020. It is expected that the segment
will continue to lead the market during the forecast period on account of the
high number of advantages, low-cost design and surging demand for SATA
interface in a wide range of applications including data centers, laptops, PCs.
On the other hand, the PCIe segment is predicted to attain growth at the
highest CAGR of 27.0% over the forecast period of 2021-2030.
Based on capacity, the 1 TB and above segment held the
largest share in the market in 2020 and is projected to further expand at a
CAGR of 22.0% over the forecast period. The segment's growth can be attributed
to the proliferating demand for high storage drives in various applications
including data centers, gaming, and other consumer electronic devices.
Based on form factor, the FHHL and HHHL segment is
anticipated to register the highest growth during the forecast period of
The North American region held the commanding position
in the global solid state drive market in 2020, with further estimations of the
region continuing to lead the market during the forecast period i.e. 2021-2030.
The region is expected to register growth rate at a CAGR of 16.0% over the
forecast period. The growth of the market in the region can be attributed to
factors such as the burgeoning need for storage due to the soaring adoption of
advanced technologies in the region; the increasing supply of innovative
storage solutions by marquee organizations to a variety of industries in the
region; the escalating investments in IT infrastructure in the region and the
rapid replacement of HDDs by SSDs in the region. Moreover, the high number of
well-established market players, the surging desire for reducing latency by
demanding data to be housed locally, and the expansion of the 5G technology in
the U.S. are expected to further create ample growth opportunities for the
market during the forecast period. The major contributors to the region include
the U.S. and Canada.
The Asia Pacific region also held a prominent share in
the global solid-state drive market in 2020. The region is expected to emerge
as the fastest-growing regional market for solid-state drives (SSDs) during the
forecast period. This can be majorly attributed to the rapidly expanding
consumer electronics market in the region; the increasing number of developments
in the information and technology (IT) service sectors in the emerging
countries of the region; the surging demand from consumer mobile devices due to
the presence of a large consumer base and the growing adoption of cloud
computing among different enterprises in the region. Furthermore, the rising
data volumes due to the growing data centers and the enhancing focus of
countries on expanding the production capacities to cater to the spurring
demand in the region are expected to further augment the growth of the
solid-state drive (SSD) market in the region in the next few years. The major
contributors to the region include India, South Korea, Japan and China.
KEY COMPANIES IN SOLID STATE DRIVE (SSD) MARKET
SanDisk Corporation Inc.
OCZ Storage Solutions
Lite-On Technology Corporation
Seagate Technology PLC
Western Digital Corporation
Kingston Technology Corporation
Micron Technology Inc.
Samsung Electronics Co. Ltd.