Global Solid State Drive Market is expected to rise to an estimated value of USD 78.77 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the high levels of penetration achieved by cloud-based computing and its requirement of high-performing storage systems. Global Solid State Drive Market By Form Factor (1.8”/2.5”, 3.5”, M.2/mSATA, U.2, FHHL & HHHL), Interface (SATA, SAS, PCIe), Storage Capacity (Less than 250GB, 251-500GB, 501GB-1TB, More than 1TB), Technology (TLC 3D, TLC Planar, MLC 3D, MLC Planar, SLC), End-User (Enterprise, Client, Industrial, Automotive), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
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Major Market Competitors/Players
Few of the major competitors currently working in the global solid state drive market are SAMSUNG; Intel Corporation; Western Digital Corporation; Micron Technology, Inc.; Toshiba Memory Corporation; Seagate Technology LLC; LITE-ON Technology Corporation; SK hynix INC.; Kingston Technology Europe Co LLP und Kingston Digital Europe Co LLP,; Best IT World (India) Pvt. Ltd.; Viking Technology; ADATA Technology Co., Ltd.; BiTMICRO Networks, Inc.; Foremay, Inc.; Crossbar; Broadcom; Nimbus Data and Transcend Information, Inc. among others.
- Rapid increase in the demand for SSD from data centers is expected to boost the growth of the market growth
- Various benefits and performing advantages SSD offer over HDD is expected to augment growth of the market
- Increasing reach of digital connectivity and generation of large volumes of data globally is expected to drive the growth of the market
- Increasing quality of content and information being generated in various households is expected to augment growth of the market
Solid-state drive (SSD) is a type of storage device comprising of solid-state architecture for its storage system. It consists of flash controller and flash memory chips that help in storing persistent data based on solid-state flash memory. This technological integration provides these drives with better performance, helping users achieve higher speed while reading or writing the data. They do not have any parts in their structure that move or spin unlike traditional storage systems like hard disk drive (HDD).
Key Developments in the Market:
- In March 2019, Western Digital Corporation announced the launch of the first drive under their WD Blue range utilizing NVMe storage. The product termed as “Blue SN500 NVMe SSD” is designed to deliver high performance benefits at a low-price range. The drive is based on the company’s 3D NAND technology, firmware and controller. The combination of this technology provides 500GB sequential speeds for reading and writing at 1,700MB/s and 1,450MB/s
- In November 2018, Best IT World (India) Pvt. Ltd. through their business brand “iBall” announced the launch of “Phantom” 2.5” Solid-State Drive (SSD) designed to provide consumers with highest quality of speed and performance in storage solutions. The product is available in three storage variants of 120GB, 240GB and 480GB. The product is available with three years warranty and is available in major retail outlets in India
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Global solid state drive market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of solid state drive market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
- Concerns regarding larger costs and shorter operational duration of these drives is expected to restrict the growth of the market
- Conflicting performances in the case of low latency rate associated with the product is also expected to restrict the growth of the market
Global Solid State Drive Market Segmentation:
By Form Factor
- FHHL & HHHL
- Serial Advanced Technology Attachment (SATA)
- Serial-Attached SCSI (SAS)
- Peripheral Component Interconnect Express (PCIe)
By Storage Capacity
- Less than 250GB
- More than 1TB
- Triple-Level Cell Flash (TLC) 3D
- Triple-Level Cell Flash (TLC) Planar
- Multi-Level Cell (MLC) 3D
- Multi-Level Cell (MLC) Planar
- Single-Level Cell (SLC)
- Server Attached
- Storage Attached
- Desktop PC
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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