Farmington, Feb. 03, 2023 (GLOBE NEWSWIRE) -- The Global Solid State Drive (SSD) Market size was valued at USD 30.12 Billion in 2022 and is projected to reach USD 86.12 Billion by 2030, growing at a CAGR of 14.96% from 2022 to 2030. Solid State Drive is the newest way to store information, and it can replace HDD and other older storage devices. People are using the Internet more, the e-commerce market is growing, digitalization is moving quickly, and the amount of data transferred from new media is going up. All of these things are likely to have an effect on the market for solid-state drives. But SSDs are usually six to seven times more expensive than HDDs, which could slow down the growth of the market. Thanks to the new hybrid systems with hard disc drives, the market is expected to grow in new ways over the next few years (HDDs). The market's big players are focusing on making SSDs with more storage space grow. Most of the Solid State Drive (SSD) Market's rapid growth is thought to be coming from the Asia-Pacific region. In this part of the world, the Solid State Drive Market is growing because more and more businesses are using cloud computing and there are more and more data centres.
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Recent Developments:
- In May 2018, Western Digital launches 3D NAND SATA SSD with 64-layer 3D NAND technology for high capacity and reduced cell-cell interference for enhanced reliability.
- In August 2017, Samsung Launches Portable SSD T5, Latest 64-Layer V-NAND Technology, Delivers Industry-Leading Transfer Speeds With Encrypted Data Security.
- In August 2017, Micron expanded its manufacturing facilities in Boise, Idaho, US. Investments in R&D are dedicated to developing new semiconductor manufacturing processes and designs for the company's future memory and storage technologies.
Segment Analysis:
When you look at the interface, it can be further broken down into SATA, SAS, and PCIe. PCIe are becoming more popular and are being used in more industries. The PCIe market is expected to be worth USD 25.33 billion in 2021, and it is expected to grow at a compound annual growth rate (CAGR) of 20.6%. The fact that major key players in the SSD industry keep putting out new products with PCIe interface shows that it is becoming more popular, and it is expected that PCIe interface-based Solid Storage Devices will grow a lot in the next few years.
They can be put into two groups, Enterprise and Client, based on the application. In 2021, the Client had the biggest share of the market, and its growth is expected to be 19.8% per year. As the use of client SSDs has grown, market leaders have released a new line of products to take advantage of the market's growth. Along with the introduction of enterprise-class SSDs, the development of Client SSDs has driven the SSD market.
Regional Outlook:
The global market for solid-state drives is mostly split into three big areas: North America, Europe, and Asia-Pacific. The most important region is Asia-Pacific, which will have a market worth USD 17.55 billion in 2021 and a CAGR of 19%. The growth of blockchain technology and the Internet of Things in the country has made new SSD solutions possible. Some of the biggest companies on the market are also focusing on mass production of SSDs to keep up with the growing competition and meet demand at home and abroad. Several governments in the "Rest of Asia-Pacific" have taken steps to encourage the growth of data centres in the area, which has increased the demand for solid-state drives (SSDs). Europe, which is expected to grow at a compound annual growth rate (CAGR) of 16.8%, is the next big market.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 14.96% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 86.12 Billion |
| By SSD Interface | SATA, SAS, PCIe, Others |
| By Application | Enterprise, Client, Other |
| By Companies | ADATA Technology Co. Ltd, Bitmicro networks Inc., Kinston Technologym, KIOXIA America, Inc. (Toshiba Corporation), Micron, Microsemi, Mushkin Enhanced MFG, Netapp, Samsung, Seagate Technology LLC, SK Hynix Inc, Viking Technology, Western Digital, Transcend Information Inc. |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
Customers want to back up and store their data in a world where cloud computing is the most popular choice for businesses. Solid State Drive (SSD) market share has been growing at the same rate as the number of cloud platforms, from old corporate private clouds to new public clouds to personalised clouds in people's homes. Progress in solid-state storage technology has also led to the rise of SSDs with new interfaces like PCIe, NVMe, and others. PCIe SSDs are used more for cloud computing on the global platform because they have new and better features, such as faster speeds and easy access to data. This is now possible with the arrival of new PCIe SSDs that promise better performance with higher frequency and less latency. Still, a solid-state drive with advanced features is definitely needed for different complicated operations in data-sensitive industries like primary financial services, life sciences lessons, and effective energy management, where each microsecond of latency has shown a big loss in daily revenues.
Market Opportunities:
The enterprise Solid State Drive (SSD) market share is booming like never before. It's a global market. It's a place where people can work together. Small and medium-sized businesses are a big part of this (SMEs). The 2017 worldwide sales of Solid State Drives (SSD) are great. There are a lot of people in the market. Also, the fact that the local government encourages the spread and use of these technologies or services is a chance for the public-owned car market to reach more people. Over the next few years, the need or expectations for the Solid State Drive (SSD) Market may grow as more people and businesses use modern devices.
Key Segments Covered:
Top Market Players:
ADATA Technology Co. Ltd, Bitmicro networks Inc., Kinston Technologym, KIOXIA America, Inc. (Toshiba Corporation), Micron, Microsemi, Mushkin Enhanced MFG, Netapp, Samsung, Seagate Technology LLC, SK Hynix Inc, Viking Technology, Western Digital, Transcend Information Inc., and others.
By SSD Interface
- SATA
- SAS
- PCIe
- Other
By Application
- Enterprise
- Client
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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