Solid State Drive (SSD) Market Share Estimated to Garner USD 86.5 Billion by 2030 with a CAGR of 15.2% - Report by Market Research Future (MRFR)
SSD Market Drives by Increasing Cross-Domain Use of Data Based on Segregated Workloads Performance Requirements
New York, US, May 26, 2022 (GLOBE NEWSWIRE) -- SSD Market Overview
According to a comprehensive research report by Market Research Future (MRFR),” Solid State Drive Market Research Report, By type, By Storage Interface, By Storage Capacity, By Application, By End-user - Forecast till 2030”, estimated to grow to a valuation of USD 86.5 Billion by 2030, growing at a 15.2% throughout the assessment period.
The solid state drive market is projected to witness significant revenue growth. The rise of memory-driven infrastructure and the flexibility that SSDs offer in remote edge deployments boosts the Solid State Drive (SSD) Market size. Initiatives to drive the performance of existing infrastructures contribute to the market size, increasing the interest in rolling out memory-driven infrastructures.
|Market Size||USD 86.5 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Storage Interface, Storage Capacity, Applications and End-user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Samsung (South Korea), Intel (US), SanDisk (US), Micron Technology, Inc. (US), Toshiba (Japan), Lite-On (Taiwan), Western Digital (US), Fusion-io (US), Google (US), Kingston Technology (US), NetApp (US), OCZ (US) and IBM (US),|
|Key Market Drivers||In the global platform where Cloud computing is the major suitable option for organization and customers shows interest towards backup and archiving their data.|
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Growing demand for gaming SSDs with PCI Express 4.0 NVMe speedsters that can connect external drives to internal ones and PCs and gaming consoles defines the market landscape. A memory-driven architecture needs advanced memory technologies to reduce data access latency and offer superior performance with enterprise-class storage capabilities, demolishing the latency bottlenecks between memory and SSDs. Rising internet uses and uptake of smart connected devices define the growing Solid State Drive Market landscape.
The growing use cases of real-time analytics, artificial intelligence (AI), machine learning (ML), and deep learning algorithms increase market revenues, fostering the demand for faster storage. With the rising use of highly scalable memory devices, the market is likely to grow significantly. Also, increasing demand for random-access memory (DRAM), conditional access security keys, and hack-resistance storage foster Solid State Drive Market growth.
The market witnesses vast demand for new portable solid-state drives with a small form factor, larger storage space, and rapid write speed. Its compact design offers a great solution for consumers needing a portable drive to move files fast. SSDs can greatly enhance the performance of systems with a simple upgrade.
Other benefits that SSDs can provide include durability & reliability, faster data processing than hard drives, lightweight & silent working features, and more practical sizes/form factors. Today, SSDs are extensively used in businesses, gaming, smartphones, servers, and smart wearable & gadgets. Their compact design, low power consumption, and high speed make SSDs an indispensable component in smart wearable devices and gadgets.
Solid State Drive Market Segments
The Solid State Drive Market is segmented into form factors, interfaces, storage, technologies, end-users, and regions. The form factor segment is sub-segmented into 5”, 2”, 8”/2.5”, 2 (SFF 8639), FHHL, HHHL, and others. The interface segment is sub-segmented into SAS, SATA, PCIe, and others.
The storage segment is sub-segmented into under 500 GB, 500 GB–1 TB, 1 TB – 2 TB, above 2 TB. The technology segment is sub-segmented into MLC planar, SLC, MLC 3D, TLC 3D, TLC planar, and others. The end-user segment is sub-segmented into clients, enterprises, industrial, automotive, and others.
Increasing demand for SSD from the connected & wearable devices market and increasing deployment of SSDs in the banking and financial services sector escalate Solid State Drive (SSD) Market growth. Furthermore, advances in storage technologies drive the growth of the market. The rising use of high-end notebooks, desktops, and gaming systems, alongside the workstations requirements and the proliferation of data centers, substantiate market revenues.
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Solid State Drive Market Regional Analysis
North America is the largest market for solid state drive, accounting for a significant market share. The market increase is driven by the presence of many notable players and well-established end-user verticals in the region. The broad uptake and advances in storage technologies foster the growth of the regional market.
Besides, the increasing investments in technology developments propel regional Solid State Drive (SSD) Market growth. Moreover, the demand for reliable backup and recovery systems supports market growth in the region. The North American solid state drive market is expected to witness rapid growth during the assessment period.
SSD Market Competitive Analysis
Highly competitive, the solid state drive market appears fragmented due to the presence of several well-established players. Industry players make vast investments in research and development activities and foster their expansion plans. These market players adopt approaches such as greater commercialization of their products, promotion initiatives through competitions & trade exhibitions, and increased collaboration.
Dominant Key Players on Solid State Drive Market Covered are:
- Intel (US)
- Samsung (South Korea)
- SanDisk (US)
- Toshiba (Japan)
- Micron Technology Inc. (US)
- Lite-On (Taiwan)
- Fusion-io (US)
- Western Digital (US)
- Google (US)
- NetApp (US)
- Kingston Technology (US)
- IBM (US)
- OCZ (US)
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This market witnesses implementation of several strategic deals, such as collaboration, mergers & acquisitions, product launches, and expansion. The SSD market perceives increasing product developments and product launches. On May 02, 2022, electronics giant Samsung launched a new rugged portable Solid State Drive offering protection against drops, dust, and water.
The Samsung T7 Shield Portable SSD combines high speed and convenience with rugged dependability. Samsung’s popular T-series range of portable SSDs has earned the reputation of being the best portable SSDs.
In another instance, on April 26, 2022, KIOXIA America, Inc., introduced the XG8 Series of client SSDs to bolster its comprehensive PCIe 4.0 solid-state drive (SSD) portfolio. Built with our fifth-generation BiCS FLASH 3D flash memory, the XG8 Series can be used in gaming systems, high-end notebooks, desktops, workstations, and data center boot applications. It delivers a next-generation solution for client and data center boot applications needing advanced performance.
Addition features of the XG8 Series include Forward-looking support for NVMe 1.4 feature set and basic management commands over System Management Bus (SMBus) that can enable tighter thermal management for PCs, Power loss notification is supported to protect data against forced shut-downs, and sideband signals are available in both 1.8V and 3.3V enabling support for more platforms.
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