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Solid State Drive Market Growing Adoption and Increased Demand 2022

The Solid State Drive Market size is expected to hit around US$ 31.5 billion by 2030 from valued at US$ 9.5 billion in 2020, growing at a CAGR of 15.7% from 2021 to 2030. Rapid pace of technological advancements spurred increasingly by sheer pace of digitalization of business processes across the world is a key driver for adoption of SSDs. This has led to price decline, thus has been bolstering the uptake in enterprises as well as consumers.

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Solid-state drives (SSDs) are gathering steam as secondary memory in wide range of modern computing systems. SSDs are characterized by non-volatile flash memory, and are gaining widely preference over magnetic hard disk drives (HDDs) in mobile devices due to several benefits. Their reduced latency and lower failure rates in contrast to HDDs have made them remarkably popular in handheld devices. In particular, the incorporation of SSDs in slim laptops, convertibles, and 2 in 1s are propelling the commercialization avenues in the solid state drive market.

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Uptake of Enterprise SSDs to Grow Owing to Several Performance Benefits

The global solid state drive market is bifurcated based on end user into client SSD and enterprise SSD. Of the two, the client SSD held the leading share of the global market in 2014. Consumers are increasingly becoming attracted toward consumer tablets, desktops PC, and notebooks. On the other hand, revenues in the enterprise SSD are projected to expand at a rapid pace during the forecast period. Some of the salient features of SSD technology are fast logging in and less load time for apps and services to start up. Constant innovation in enterprise-grade SSD have steered revenue generation from the segment. There is substantial demand for cutting-edge storage technologies in enterprise-class servers, propelling the growth of solid state drive market.

Growing number of enterprises deploying SSD-based storage technologies are underpinning the growth prospects of the solid state drive market. The growing trend of adoption of cloud data center has fueled the uptake of SSD products.

The various interfaces of solid state drives are SATA (serial advanced technology attachment) SSDs, SAS (Serial-Attached SCSI) SSDs, and PCI-E (PCIe solid-state drive) SSDs. Depending on the technical characteristics, the usage of each varies.

Large Consumer Base and Manufacturing Hub Make Asia Pacific Lucrative Regional Market

Geographically, Asia Pacific solid state drive market held the leading share of the global market in 2014. The presence of a vast consumer base is one of the key drivers for growth of revenues in the regional market. The analysts of the TMR study have highlighted Taiwan, Japan, and China as highly lucrative solid state drive markets. Rise in demand for mobile devices such as handheld smart gadgets has propelled the demand for advanced storage devices, which, in turn, has spurred the revenue prospects off the Asia Pacific solid state drive market.

Furthermore, the Asia Pacific solid state drive market has been propelled by the presence of a large manufacturing base. Both small and large drive manufacturers are keenly unveiling technologically advanced storage and memory devices. In particular, several of them are developing new techniques to substantial augment the read and write performances of SSDs. Some of the key players based out of Asia Pacific are Toshiba Corporation and Samsung Electronics Co., Ltd. (South Korea). On the other international players are expanding their presence in Asia Pacific solid state drive market, such as SanDisk Corporation and Micron Technology.

Rise in demand for mobile devices and advancements of mobile computing technologies is a key driver for prospects of the global solid state drive market. In part, this can be ascribed to the growing preference of NAND flash memory-based solid-state drives (SSDs) over HDDs.

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Key Players

Intel Corporation; Micron Technology, Inc.; Samsung Electronics Co., Ltd.; Seagate Technology PLC; and Western Digital Corporation.

Market Segmentation

  • By Type
    • External
    • Internal
  • By Storage
    • Under 120 GB
    • 120GB-320GB
    • 320GB-500GB
    • 500GB-1TB
    • 1TB-2TB
    • Above 2TB
  • By End-Use
    • Enterprise
      • Small
      • Medium
      • Large
    • Client
  • Regional
    • North America
      • The U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • The U.K.
    • Asia Pacific
      • China
      • Taiwan
      • India
    • South America
      • Brazil
    • The Middle East and Africa

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Steve Robber

My name is Steve Robber, I’m the Owner of Market Stats News. Steve has served in many positions at various organizations for the past seven years. Currently he is an Author at Finance.Yahoo. Contact us for a free news publication, we look forward to speaking with you!

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