WELLESLEY, Mass., Oct. 06, 2017 (GLOBE NEWSWIRE) -- Growing demand for laptops, netbooks and tablets will help spur growth of the solid-state drive (SSD) industry, according to a report by BCC Research. Due to their speed, stability, quiet operation and suitability for portable devices, SSDs are rapidly replacing traditional hard disk drives.
The SSD market is expected to increase by a compound annual growth rate (CAGR) of 14.4% through 2022, with the largest market being North and South America. The total market is forecast to reach $52.5 billion by 2022, with the largest segment and most growth coming from SSDs with more than 1 terabyte of storage, according to the report Solid-state Drives (SSD) Technology: Global Market Analysis.
Research Highlights
- SSDs with storage of less than 250 gigabytes will grow at a comparatively modest 9.6% through 2022, when the global market value is projected to reach $6 billion. By comparison, SSDs with more than 1 TB of storage will grow by 16.9% over the same period.
- Annual growth in the Americas should average 18.2% between 2017 and 2022. Growth will be more modest, although still strong, in the Asia-Pacific region and the Europe, Middle East and Africa regions.
- SSD adoption in notebooks alone is forecast to grow at a CAGR of 24.5% between 2016 and 2020. This rapid growth will help hasten the demise of conventional disk drives.
“Said to have lost to SSD in terms of growth prospect, the HDD market is still not completely dead,” said Kevin Fitzgerald, BCC Research editorial director. “SSDs have many performance advantages when compared to hard disks, but at the moment, they come with cost and supply limitations that can restrict their wider acceptance for certain applications.”
North and South America Overtake Asia as a Lucrative Manufacturing Hub
The largest market for SSDs through 2022 will be the Americas, as device manufacturers there continue to integrate SSDs into their products. Many market leaders are also choosing to manufacture electronic devices in the Americas as they see cost benefits to regional production. Market growth in the Americas will come primarily from SSDs with more than 500 GB of storage—vendors are targeting the 500 GB to 1 TB storage range for smartphones, tablets and basic laptops.
Editors/reporters requesting analyst interviews should contact steven.cumming@bccresearch.com.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.