Solid State Drive (SSD) Market Research Report - Forecast 2030

Solid-State Drive (SSD) Market Research Report Information By Interface (SATA, SAS, and PCIe), By Form Factor (8”/2, 5”, 5”, 2, FHHL, 2 (SFF 8639), and HHHL), By Technology (SLC, MLC Planar, MLC 3D, TLC Planar, and TLC 3D), By Storage (Under 500 GB, 500 GB–1 TB, 1 TB – 2 TB, and Above 2 TB), By End-User (Enterprise, Client, Industrial, and Automotive) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

ID: MRFR/SEM/0522-HCR | 90 Pages | Author: Ankit Gupta | June 2023         

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Global Solid-State Drive (SSD) Market Overview:

Solid-State Drive (SSD) Market Size was valued at USD 27.9 billion in 2021. The solid-state drive (SSD) market industry is projected to grow from USD 32.1 Billion in 2022 to USD 86.5 billion by 2030, showing a 15.2% compound annual growth rate (CAGR) for the anticipated timeframe (2022 - 2030). The increasing adoption of high-end cloud computing interfaces and the expanding requirement for reliable data storage solutions across enterprises for performing file back-up and archiving information are the major market drivers enhancing the market growth.
Global Solid-State Drive (SSD) Market Overview
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Solid-State Drive (SSD) Market Trends

  • Growing demand for cloud computing to boost the market growth

With the emergence of numerous cloud platforms, from the old corporate private and new public clouds to home-based personal clouds, the need for solid-state drives (SSD) has been rising quickly. Several significant players oversee their cloud infrastructures and respond to the expanding SSD demand from consumers. As an illustration, Google (US) employs permanent solid-state drive (SSD) storage in open beta for users of the compute engine, offering high input/output operations per second (IOPS) and enabling Google Cloud Platform customers to access the solid-state drive (SSD) more quickly on workloads. Thus, the growing use of cloud computing has enhanced the solid-state drive (SSD) market CAGR globally in recent years.

Solid-State Drive (SSD) Market Segment Insights:

Solid-State Drive (SSD) Interface Insights

The Solid-State Drive (SSD) Market segmentation is based on interface, SATA, SAS, and PCIe. The SATA sector dominated the market in 2021. The vast demand for solid-state drives using SATA interfaces can be largely ascribed to the interfaces' low cost.

April 2021: Samsung Electronics has released its new PM9A1 SSD, which features a PCIe 4.0x4 interface. It comes in capacities ranging from 256 GB to 2 TB. This advancement was intended for PC usage, notably for corporations and government agencies dealing with sensitive data and advanced security requirements. This announcement has further broadened the growth opportunity for the solid-state drive (SSD) industry.

Additionally, in 2021, the PCI interface witnessed significant growth in the forecast period with respect to the Solid-State Drive (SSD) Market revenue. The consecutive and ongoing product launches using the PCIe interface by significant key players in the solid-state drive (SSD) market indicate the growth in demand for its usage.

Solid-State Drive (SSD) Technology Insights

The Solid-State Drive (SSD) Market segmentation, based on technology, includes SLC, MLC Planar, MLC 3D, TLC Planar, and TLC 3D. In 2021, the TLC Planar segment acquired a major market share. The cost per GB of solid-state drive (SSD) decreases as the technology switches from SLC to MLC and from MLC to TLC. However, the MLC Planar sector also experienced considerable growth. The rising use of smartphones, PCs, and tablets is one of the main factors driving the growth of the MLC NAND Memory industry. Hence, rising applications of MLC Planar for solid-state drive (SSD) positively impacts the market growth.

Solid-State Drive (SSD) Storage Insights

The Solid-State Drive (SSD) Market data has been bifurcated by storage into under 500 GB, 500 GB–1 TB, 1 TB – 2 TB, and above 2 TB. A growing number of people are using 1 TB SSD storage because of its exceptional mechanical and performance attributes. The above 2 TB storage also witnessed significant growth. Due to advantages like cheap cost and non-volatility compared to dynamic random-access memory, most SSD manufacturers currently use NAND flash-based memory with capacities greater than 2 TB.

Solid-State Drive (SSD) End User Insights

Based on End Users, the global solid-state drive (SSD) industry has been segmented into enterprise, client, industrial, and automotive. The client sector acquired the major market share. Netbooks, notebooks, ultrabooks, single-user desktop or laptop systems used in homes or small workplaces, and other single-user applications use client SSDs in the consumer market.

Figure 2: Solid-State Drive (SSD) Market, by End-User, 2021 & 2030 (USD Billion)
Solid-State Drive (SSD) Market, by End-User, 2021 & 2030
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The second fastest-growing segment in the solid-state drive (SSD) industry is the retail segment. Due to their improved reliability, endurance, error incidence, and performance parameters, enterprise-class SSDs are favored for mission-critical applications and data centers.

Solid-State Drive (SSD) Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. North American Solid-State Drive (SSD) market accounted for USD 12.05 billion in 2021 and is expected to exhibit a significant CAGR of 43.2 percent growth during the study period. The development of 5G technology in the US and Canada is anticipated to substantially impact the market expansion. The CTIA claims that this quick adoption of 5G will lay the framework for a 5G economy in the US, resulting in investments totaling USD 275 billion, creating 3 million new jobs, and increasing GDP by USD 500 billion.

Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's solid-state drive (SSD) market accounts for the second-largest market share. The region's rapid adoption of smart devices, increased investments in IT infrastructure development, and the quick uptake of cloud computing are all contributing to an increase in demand for solid-state drives in European markets. HiDrive describes itself as "Germany's largest cloud computing platform," with over 3.8 million registered customers. Further, the German solid-state drive (SSD) market held the largest market share, and the UK solid-state drive (SSD) market was the fastest-growing market in the European region.

The Asia-Pacific Solid-State Drive (SSD) Market is expected to grow at the fastest CAGR from 2022 to 2030. New SSD solutions have been created due to the nation's adoption of blockchain technology and the Internet of Things. In China, 8.8 billion linked devices are anticipated to exist by 2021. To fulfill domestic and global demand and the escalating rivalry, several of the market's top vendors also focus on the mass production of solid-state drives (SSD). Moreover, China’s solid-state drive (SSD) market held the largest market share, and the Indian solid-state drive (SSD) market was the fastest-growing market in the Asia-Pacific region.

Solid-State Drive (SSD) Key Market Players & Competitive Insights

The market will expand due to major market players investing heavily in R&D to broaden the range of products they provide. In addition to significant market developments like introducing new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are taking part in several strategic initiatives to expand their reach internationally. To grow and thrive in the solid-state drive (SSD) industry, rival companies must provide their goods at reasonable costs.

Local production to cut operating costs is one of the main business methods manufacturers utilize in the global solid-state drive (SSD) industry to help clients and grow the market sector. Some of the most significant medical advancements have been facilitated by the solid-state drive (SSD) industry. The solid-state drive (SSD) market major players such as Kingston Technology (US), Western Digital (US), Micron Technology Inc. (US), Samsung (South Korea), and others are assisting R&D initiatives to increase market demand.

Micron Technology, Inc. is an American manufacturer of computer memory and data storage products such as dynamic random-access memory (DRAM), flash memory, and USB flash drives. Its headquarters are located in Boise, Idaho. The Crucial brand is used to sell its consumer products, notably the Ballistix series of memory modules. In June 2022, Micron released the 5400 SATA solid-state drive (SSD) Advanced Memory System for Critical Infrastructure. Using the 5400 SSD, the company provides 176-layer NAND innovation to its data center SATA SSD. The 5400 SSD from Micron is the 11th generation4 data center SATA solid-state drive (SSD).

Also, SK Hynix Inc. manufactures dynamic random-access memory (DRAM) and flash memory chips in South Korea. Hynix is the world's second-largest memory chip manufacturer (after Samsung Electronics) and the third-largest semiconductor firm. In February 2021, South Korean storage semiconductor manufacturer SK Hynix and its US NAND flash memory solutions subsidiary Solidigm introduced solid-state drives (SSD) for data centers. The P5530 will incorporate SK Hynix's 128-layer NAND flash innovation and Solidigm's SSD controllers and software capabilities.

Key Companies in the solid-state drive (SSD) market include

  • 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)

Solid-State Drive (SSD) Industry Developments

July 2022: Kioxia Introduces New Speed Levels for its Enterprise NVMe SSD Family Built on PCIe 5.0 Technology. The PCIe 5.0 technology in E3.S and 2.5-inch Enterprise and Datacenter Standard Form Factors is used in the KIOXIA CM7 line series (EDSFF). The EDSFF E3 series enables the next generation of SSDs using PCIe 5.0 and above to meet future data center architectures while supporting a wide range of new applications and devices.

July 2022: Innodisk, a global leader in industrial-grade memory and integrated devices, introduced the 2.5" SATA 3TS6-P, 3TS9-P, and M.2 (P80) 4TS2-P SSDs as part of its unique computing power solid-state drive (SSD) product range. Innodisk's latest edge AI SSDs provide low latency, rapid DWPD (drive writes per day), and large capacity.

Solid-State Drive (SSD) Market Segmentation:

Solid-State Drive (SSD) Interface Outlook

  • SATA

  • SAS

  • PCIe

Solid-State Drive (SSD) Form Factor Outlook

  • 8”/2

  • 5”

  • 5”

  • 2

  • 2 (SFF 8639)

  • FHHL

  • HHHL

Solid-State Drive (SSD) Technology Outlook

  • SLC

  • MLC Planar

  • MLC 3D

  • TLC Planar

  • TLC 3D

Solid-State Drive (SSD) Storage Outlook

  • Under 500 GB

  • 500 GB–1 TB

  • 1 TB – 2 TB

  • Above 2 TB

Solid-State Drive (SSD) End-User Outlook

  • Enterprise

  • Client

  • Industrial

  • Automotive

Solid-State Drive (SSD) Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Scope:

Report Attribute/Metric Details
Market Size 2021 USD 27.9 billion
Market Size 2022 USD 32.1 billion
Market Size 2030 USD 86.5 billion
Compound Annual Growth Rate (CAGR) 15.2% (2022-2030)
Base Year 2021
Market Forecast Period 2022-2030
Historical Data 2018 & 2020
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Interface, Form Factor, Technology, Storage, and End-User
Geographies Covered Europe, North America, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Kingston Technology (US), Western Digital (US), Micron Technology Inc. (US), and Samsung (South Korea).
Key Market Opportunities High demand from the high-end cloud segment
Key Market Dynamics Growing adoption in data center applications​ Advantage of SSDs over HDDs  

Frequently Asked Questions (FAQ) :

The market size of the global solid-state drive (SSD) was prized at USD 27.9 Billion in 2021.

The global market is estimated to grow at a CAGR of 15.2% during the forecast period 2022-2030.

The largest share of the global market was held by North America.

The key players in the market are Kingston Technology (US), Western Digital (US), Micron Technology Inc. (US), and Samsung (South Korea).

The TLC Planar solid-state drive (SSD) technology dominated the market in 2021.

The SATA interface had the largest share of the global market.

Key Questions Answered

  • ✅ Global Market Outlook
  • ✅ In-depth analysis of global and regional trends
  • ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
  • ✅ To understand the capability of the major players based on products offered, financials, and strategies.
  • ✅ Identify disrupting products, companies, and trends.
  • ✅ To identify opportunities in the market.
  • ✅ Analyze the key challenges in the market.
  • ✅ Analyze the regional penetration of players, products, and services in the market.
  • ✅ Comparison of major players’ financial performance.
  • ✅ Evaluate strategies adopted by major players.
  • ✅ Recommendations
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