ID: MRFR/SEM/0522-HCR | February 2021 | Region: Global | 90 pages
Global Solid State Drive (SSD) Market has a total of USD 21.78 Billion in 2017, but it is projected to rise by USD 50.72 Billion by 2023, with a compound annual growth rate (CAGR) of 15.13% during the estimated period. Solid State Drive is the latest technology in the field of information storage and is a substitute for traditional storage devices such as HDD. There has been a rise in the use of the Internet, expanding e-commerce market, quick advances due to current digitalization, and rising volume of latest media data transfer are estimated to influence the market. However, the high expenditure of SSD compared to HDD might delay the growth of the market as SSDs are prominently six to seven times less expensive than HDDs. The new Hybrid systems with HDDs are forecasted to display new opportunities for the market’s development in the recent years to come. The major market players are concentrating on the growth of increasing capacity SSDs. The Asia-Pacific region is primarily estimated to account for the rapid growth in this market. The market in this region of the world is run by the growing adoption of cloud computing among different enterprises and advanced data volumes due to the rising data centers in the Asia Pacific region.
A vast concept of Solid State Drive (SSD) is primarily known as an electronic disk or a solid-state disk. The device is used for storing data; it uses integrated circuits as a memory for data storage and to keep it safe. It is not the same as hard disk drives, there are no other movable components in SSDs devices, and they do data retention and storage without any more consumption of power; yes, it is very much possible because they are using the technologically advanced NAND-flash memory chips. The solid-state drives have many performance benefits, such as better random access speed, huge multi-tasking capacity, and higher and better reliability and durability as compared to their traditional counterpart. The SSDs are a far better option for major global data centers as they offer very high speed, advanced hierarchical storage, and voluminous mass space because of their to their non-volatile memory technology. They also share a high-speed advanced bus interface that enables very high speed of information-transfer in enterprise systems. The key players in the SSD market have major companies such as Intel Corporation, Kingston Technologies, Samsung Electronics Co.Ltd, etc.
The pandemic has impacted enterprise SSD market share in 2018 and 2020; in the year 2018, it was at its peak, and during the pandemic, it got affected a little bit. The COVID-19 pandemic showed a negligible effect upon the solid-state drives semiconductor production that has been automated with primary companies in China those are having ample stock of raw materials. Recently, one of the biggest companies, Samsung Corporation, has announced plans to build a new plant in South Korea to spread its V-NAND production. The pandemic has no doubt accelerated the process of lots of atomization.
In the global platform where Cloud computing is the major suitable option for organization and customers shows interest towards backup and archiving their data. The want for SSD market share has been pacing increasing with the surfacing number of cloud platforms from the old traditional corporate private and new public clouds to personalized clouds in homes at their own comfort. The technical advancements in the field of solid-state storage also responsible for the rise of SSDs with emerging interfaces such as PCIe, NVMe, and others. The new and improved features such as greater speed and fast and easy data access boost the adoption of PCIe SSDs for cloud computing in the global platform. The arrival of new PCIe SSDs that guarantees to offer superior quality performance with better frequency and less diminished latency. In Spite of all these, the solid-state drive with advanced features is definitely needed for different complicated operations in data-sensitive industries such as primary financial services, life sciences lessons, and effective energy management, where each microsecond of latency has shown a big loss in daily revenues.
The enterprise SSD market share is booming like never before. It is a global marketplace. It is an integrated platform. There are plenty of small and medium enterprises (SMEs) associated with this. The SSD market share 2017worldwide sales for the solid-state drive is marvelous. It is a highly competitive market. Moreover, the encouragement by the native Government for spreading and grasping these technologies or services represents a scalable opportunity for the public-owned car market to expand its reach. The reliance on modern devices for commercial and personal purposes can trip the market need or expectation over the estimated period.
There is always a fear in the global health market growth. Due to this fact, SSD controller market share is evolving every day and trying to combat its negative sides. The lack of awareness of the industry about the governance of nanosensors technologies increases the risk of the restraints. That is the reason many companies are advised to be monitored continuously in their operations to lower the risks and improve the standard security features.
The initial budget of 1 GB of an SSD is better than that of an HDD. For example, 1 TB internal HDD expenditure is around USD 0.07 per GB; on the other hand, the SSD of the same quality will be priced at approximately USD 0.30 per GB. Recently, NAND flash memory prices have been reduced; eventually, the price of SSDs is higher than HDDs. But, this trend may not be possible in the future with the launch of 3D NAND storage solutions. The 3D NAND has become a bigger player in the repository industry because of the rising SSD capacities and lessening SSD prices. The newly launched 3D NAND would permit the SSDs to raise capacities far beyond the sizes of major hard drives. Also, the entire life cycle of SSD is short of HDD; As per the SSD market research, the SSD has a permissible write cycle as the flash memories in SSDs that can be used for a definite number of writes. There is an amazing parameter that is associated with the cost of storage infrastructure using SSDs.
The primary SSD market research industry claims to have a 15.13% over the estimated. The demand for this concept has risen because companies are conscious now. The Asian and North American countries are focussing on expanding the production to meet the targets and deal with innovative technologies effectively.
A lot of different types of solid-state storage devices are available; the market of this segment is very dynamic. The market is growing every moment. It shares a competitive landscape. Companies are now investing in research and development, new market initiatives, major regional presence, company prime strengths and weaknesses, new launches related to wireless products, and many more.
The major players who dominate the SSD market research are:
Solid State Drives Market, By the Interface
Solid State Drives Market, By Form Factor
Solid State Drives Market, By Technology
Solid State Drives Market, By Storage
Solid State Drives Market, By End-User
Primary organizations that are operating the SSD Market Research Industry are:
By Sales Channel
Companies are creating new avenues, and this concept of SSD Market Research Technology is gaining momentum. The processes are dynamic now, so the concept of this technology is evolving every day. To meet the supply chain and global technology services criteria, the companies are getting agreement to grow together.
The prominent players in the SSD Market Research Technology deliberately keep innovating and investing in research and development in order to keep a tap on a cost-effective portfolio. There have been global mergers and acquisitions among the major players, where the business entities project to bolster their reach to their consumers.
The primary world market for solid-state drives is projected to expand at a primary rate during the estimated period from 2018 to 2023.
The North American region is projected to lead the SSD market due to rising demand for modern and efficient computing systems, primary adoption of cloud computing, and escalating big data analytics. Asia-Pacific is the major and biggest market owing to the higher demand from countries such as China, Taiwan, India, and Japan. The primary market in this region is shown by the increasing applications of cloud computing in organizations and the development of data centers.
Based on Regions
Frequently Asked Questions (FAQ) :
The rapid development in solid-state drives that are recorded as having several performance benefits such as higher random access speed is expected to define market growth.
The budding e-commerce industry spurred by the rapid progress in digitalization is anticipated to leave a favorable market on the overall market in the coming years.
A compound annual growth rate of roughly 15.13 % is expected to stimulate the earnings of the market to USD 50.72 billion by 2023.
The region of North America is expected to lead the charge of the development in the solid state drive (SSD) market through the forecast period.
The competitors contributing to the growth of the solid state drive (SSD) market are Micron Technology, Inc. (US), SanDisk (US), Foremay (US), Toshiba (Japan), and Adata (Taiwan) to name a few.