Solid State Drive Market

Solid State Drive Market size reached USD 45.9 billion in 2022 and is estimated to reach USD 138.5 billion in 2030 and the market is estimated to grow at a CAGR of 14.8% from 2023-2030.

Overview of the Solid State Drive (SSD) Market Report

Solid-state drive (SSD) is an external storage device used in computers. SSDs use flash memory to deliver superior performance, higher random access speed, reliability, durability, and higher energy efficiency as compared to the mechanical hard disks. All data in solid-state drive is stored in integrated circuits and it stores large volumes of data whether the system is on or off, for extended periods of time. The Solid State Drive (SSD) market has mainly two type of applications: enterprise and client-based application.

To have an edge over the competition by knowing the market dynamics and current trends of “Solid State Drive (SSD) Market”, request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

Increased penetration of the Internet, rapid use of digital technologies for improve business processes, growing e-commerce industry, and rising volume of data are some of the major factors that are expected to boost the growth of the solid state drive market over the forecast period. In addition, rising proliferation of cloud computing platforms among enterprises and consumers for backing up their data will further drive the demand for SSDs. Major market players in cloud computing including Microsoft Corporation, Oracle Corporation, Amazon.com, Inc., and Hewlett Packard Enterprise Development LP are increasingly adopting the solid state drives for quick data access and high speed in work process.

The rising data traffic and growing adoption of SSDs in data centers owing to the demand for delivering high performance and powerful input output operation for mega clouds and servers is projected to stimulate the growth of the solid state drives market. According to the International Energy Agency, the number of global hyperscale data centres, which is owned and operated by the company it supports, is expected to reach 628 in 2021 with a share of 55% of all data centre traffic. Furthermore, growing development of connected cars and increasing adoption of SSDs in various in-vehicle applications including entertainment system, navigation system, and driver assistance technology are the emerging SSD market trends that are anticipated to drive the growth of the solid state drive market share in coming years.

Restraint in the Solid State Drive (SSD) Market

However, the high costs of solid-state drive as compared to HDD is expected to restraint the growth of the SSD market share. Moreover, disruption in the manufacturing and supply of raw materials of SSDs owing to the outbreak of COVID-19 has a significant effect on the market, which is likely to hamper the market growth.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Interface – Segment Analysis

Based on the interface, SATA (Serial Advanced Technology Attachment) segment is expected to dominate the market during the forecast period. This can be attributed to the wide range of applications of SATA interface in laptops, PCs, and data canters owing to its several advantages including increased data transfer speeds, smooth functioning, multiple drives support, small cable size, and low power consumption.

Technology – Segment Analysis

Based on the technology, SLC (Single-Level Cell) segment is projected to grow at a faster CAGR during the forecast period primarily due to its higher speed, durability, reliability, and less error-prone as compared to other flash storage types owing to which it is highly utilized in enterprise environments.

Storage – Segment Analysis

Based on the storage, under 500 GB is expected to lead the market over the forecast period owing to the widespread application of these SSDs in high-end laptops and gaming laptops for faster boot times, faster read/write speeds, and enhanced performance. Various laptops including ASUS Imagine Book, Microsoft Surface Go, HP 2019, MacBook Air, Lenovo Flex 14, Dell XPS, and Samsung Chromebook3 among other laptops are offering SSDs with under 500 GB storage.

Application – Segment Analysis

Based on the application, the client application segment is anticipated to grow at a higher CAGR over the forecast period primarily due to the rising adoption of advanced computing devices, such as smartphones, tablets, laptops, and PCs among consumers for personal usage which require high speed and large data storage.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis

Based on the region, North America is expected to grow at a higher CAGR in the SSD market. This is primarily due to the increasing adoption of smartphones and laptops and the rising use digital platforms for money transfer, online shopping, and gaming among consumers in the region. Additionally, rise in content and digital data generation, coupled with the growing number of hyper datacenter                                                                                                                                                                         in the region is further supporting the market growth. The strong presence of some of the leading companies including Intel Corporation, Micron Technology Inc., and Western Digital Corporation is likely to contribute to the market growth in the region.

Top Market Players

Various notable players operating in the market include Samsung Electronics Co., Ltd., Intel Corporation, Western Digital Corporation, Micron Technology, Inc., Toshiba Corporation, Seagate Technology LLC, Microsemi Corporation, Lite-On Technology Corporation, SK Hynix Inc., and KIOXIA Corporation, among others. 

Key Developments:

• • In 2020, KIOXIA Europe GmbH developed a line-up of PCIe 4.0 NVMeTM enterprise and data center solid state drives (SSDs). These SSDs are designed to enable the performance of client, server, and storage systems by pushing speeds up to 16.0GT/s (Giga transfers per second throughput per lane), and for enhancing performance levels for cloud and enterprise applications.
  • In 2019, Intel Corporation in partnership with Inspur Group launched a midrange all-flash storage AS5000G5-F series with dual-port Optane SSD. The AS5000G5-F series offers up to 8 million IOPS and 0.1ms latency.

Segments Covered in the Report:

The global Solid State Drive (SSD) Market has been segmented on the basis of interface, technology, storage, application, and regions. Based on Interface, the market is segmented into Serial ATA (SATA), Serial Attached SCSI (SAS), and Peripheral Component Interconnect Express (PCIe). Based on technology, the market is segmented into Single Level Cell (SLC), Multi-Level Cell (MLC), and Triple Level Cell (TLC). Based on storage, the market is segmented into under 500 GB, 500 GB – 1 TB, 1T B – 2 TB, and above 2 TB. Based on application, the market is segmented into enterprise and client. 

For detailed scope of the “Solid State Drive (SSD) Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global Solid State Drive (SSD) Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Solid State Drive (SSD) Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Solid State Drive (SSD) Market?
  • Which technology generated maximum revenues in 2019 and identify the most promising technology during the forecast period?
  • What are the various applications of global Solid State Drive (SSD) Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2022)	USD 45.9 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Interface, By technology, By Storage, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Samsung Electronics Co., Ltd., Intel Corporation, Western Digital Corporation, Micron Technology, Inc., Toshiba Corporation, Seagate Technology LLC, Microsemi Corporation, Lite-On Technology Corporation, SK Hynix Inc., and KIOXIA Corporation, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Solid State Drive (SSD) Market by Interface

• • Serial ATA (SATA)
  • Serial Attached SCSI (SAS)
  • Peripheral Component Interconnect Express (PCIe)

Global Solid State Drive (SSD) Market by Technology

• • Single Level Cell (SLC)
  • Multi-Level Cell (MLC)
  • Triple Level Cell (TLC)

Global Solid State Drive (SSD) Market by Storage

• • Under 500 GB
  • 500 GB – 1 TB
  • 1T B – 2 TB
  • Above 2 TB

Global Solid State Drive (SSD) Market by Application

• • Enterprise
  • Client

Global Solid State Drive (SSD) Market by Region

• • North America Solid State Drive (SSD) Market (Option 1: As a part of the free 25% customization)

    • By Interface
    • By Technology
    • By Storage
    • By Application
    • US  Market All-Up
    • Canada Market All-Up

  • Europe Solid State Drive (SSD) Market (Option 2: As a part of the free 25% customization)

    • By Interface
    • By Technology
    • By Storage
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Solid State Drive (SSD) Market (Option 3: As a part of the free 25% customization)

    • By Interface
    • By Technology
    • By Storage
    • By Application
    • China  Market All-Up
    • India  Market All-Up
    • Japan  Market All-Up
    • Rest of APAC  Market All-Up

  • RoW Solid State Drive (SSD) Market (Option 4: As a part of the free 25% customization)

    • By Interface
    • By Technology
    • By Storage
    • By Application
    • Brazil Solid  Market All-Up
    • South Africa  Market All-Up
    • Saudi Arabia  Market All-Up
    • UAE  Market All-Up
    • Rest of world (remaining countries of the LAMEA region)  Market All-Up

Major Players Operating in the Solid State Drive (SSD) Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Samsung Electronics Co., Ltd.
  • Intel Corporation
  • Western Digital Corporation
  • Micron Technology, Inc.
  • Toshiba Corporation
  • Seagate Technology LLC
  • Microsemi Corporation
  • Lite-On Technology Corporation
  • SK Hynix Inc.
  • KIOXIA Corporation