The solid state drives (SSD) market size to reach $143,557 million by 2029 from $53,829.6 million in 2021 to grow at a CAGR of 15% during 2022 to 2029.
New York, Jan. 21, 2022 (GLOBE NEWSWIRE) -- According to our new research study on “Solid State Drives (SSD) Market Forecast to 2029 - COVID-19 Impact and Global Analysis By Type (External, Internal); Technology (Single-Level Cell (SLC), Multi-Level Cell (MLC), Triple-Layer Cell (TLC)); Storage (Under 500 GB, 500 GB-1 TB, 1 TB - 2 TB, Above 2 TB); End-User (Industrial, Automotive, Enterprise, Client, Others) and Geography”, published by The Insight Partners.
Get Exclusive Sample Pages of Solid State Drives (SSD) Market Size - COVID-19 Impact and Global Analysis with Strategic Insights at https://www.theinsightpartners.com/sample/TIPRE00010778/
Market Size Value in
US$ 53,829.6 million in 2021
Market Size Value by
US$ 143,557.0 million by 2029
CAGR of 15.0% from2022 to 2029.
No. of Pages
No. of Charts & Figures
Historical data available
Type, Technology, Storage, End-User and Geography
North America; Europe; Asia Pacific; Latin America; MEA
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Solid State Drives Market: Competitive Landscape and Key Developments
G.SKILL International Enterprise Co., Ltd.; Silicon Power Computer & Communications Inc.; Hangzhou Hikstorage Technology Co., Limited; Western Digital Corporation; and Kingston Technology Europe Co LLP are among the key players profiled in the global solid state drives market. In addition, several other important market players were studied and analyzed during the course of this market research study to get a holistic view of the global market and its ecosystem.
Inquiry Before Buying: https://www.theinsightpartners.com/inquiry/TIPRE00010778/
In 2021, FM:Systems acquired WizzPass, a fast-growing leader in the visitor management system and workplace management sectors. This purchase expands the company's visitor management capabilities, which are crucial for providing productive, safe, and rewarding working experiences.
The SSD market is broadly segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America held the largest share of the global SSD market. Moreover, Europe is the fastest-growing region. G.SKILL International Enterprise Co., Ltd.; Silicon Power Computer & Communications Inc.; Hangzhou Hikstorage Technology Co., Limited; Western Digital Corporation; and Kingston Technology Europe Co LLP are among the key players operating in the SSD market.
The rise in the utility of solid state drives worldwide and advancement in integration of next-generation technologies such as artificial intelligence in the industrial sector further drive the market. Single packaged SSDs decrease the size of IoT (Internet of Things) devices. Owing to distinct rules, norms, regulations, and policies of different countries, trade barriers in this market may act as a restraining factor to a certain extent. Among all the regions, the North American region is a quick adopter of all the latest technological advancements in the electronics & semiconductor industry.
Speak to Research Analyst: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00010778/
Major countries in the North American region like the US, Canada, and Mexico find wide use of solid state drives (SSD) across numerous domains such as networking, telecommunication, industrial, automotive, aerospace, defense, and consumer electronics. Most of the countries in Asia Pacific are still in developing states and are not as developed as the countries in the west. However, with growing disposable income, demand for vehicles and consumer electronics products is expected to rise substantially in various countries such as Bangladesh, India, Malaysia, China, and the Philippines. This drives the requirement for respective SSD needed in vehicles, personal computers, laptops, tablets, notebooks, smart wearables, etc.
The rapidly growing media & entertainment industry in Asia Pacific is significantly contributing toward the market growth. The COVID-19 pandemic impacted the production operations; however, the demand for solid state drives for connective medical devices remained intact. From the last quarter of 2020, the supply chain has started reviving. The solid state drives market is anticipated to grow notably worldwide in the coming years.
Growing Adoption in Data Center Application:
SSDs are already nearly ubiquitous in desktop and laptop computers, but they have taken far longer to reach the same level of adoption in the data center. Because cloud and data center applications have different needs, three components of SSD technology—cost, reliability, and capacity—must mature before SSDs can be a viable alternative for hard discs. The technology has matured to the point where an SSD-only data center is not only a possibility but also the future of enterprise storage. Initially, server SSDs were best used as cache and hot storage in conjunction with SAS or SATA spinning discs, but with higher density NAND allowing for capacities of up to 3.84TB, fast NVMe-based AIC drives, and upcoming standards such as U.2, there is a shift toward All-Flash Arrays (AFA), which eliminate spinning discs. A single SSD can outperform many spinning discs while using less electricity. As a result, one can consolidate servers and minimize the overall physical footprint of a storage rack.
Buy Premium Copy of Solid State Drives (SSD) Market Size, Share, Revenue, Strategic Insights and Forecasts 2022-2029 Research Report at https://www.theinsightpartners.com/buy/TIPRE00010778/
However, data center SSDs use a different set of measurements than consumer PCs. A data center must be able to meet this requirement and will encounter increased demand based on the application, unlike a conventional client PC, whose usage is unlikely ever to require continual 24/7 steady performance. Data center drives must be able to handle this challenge in terms of durability and daily performance for the duration of the warranty period. Endurance and constant IOPS performance are essential. Predictable low latency becomes a fundamental requirement for a new application, such as a popular streaming video service requiring a Content Display Network.
Solid State Drives Market: Type Overview
Based on type, the solid state drives market is bifurcated into external and internal. The solid-state drives (SSD) segment contributed a larger revenue share in 2020.
Solid State Drives Market: Technology Overview
Based on component, the solid state drives market is categorized into single level cell (SLC), multi-level cell (MLC), and triple layer cell (TLC). The single level cell (SLC) segment contributed the largest revenue share in 2020.
Browse Adjoining Reports:
AI-powered Storage Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Offering (Hardware, Software); Storage Medium (Hard Disk Drive, Solid State Drive); Storage System (Network-Attached Storage Systems, Direct-Attached Storage Systems, Storage Area Network); Industry Vertical (BFSI, Telecom, Media and Entertainment, Government, Cloud Service Providers, Others) and Geography
3D NAND Flash Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Single-level cell (SLC), Multi-level cell (MLC), Triple-level cell (TLC)); Application (Enterprise storage, Cloud storage, Consumer storage, Solid State Drive (SSDs), and Embedded)
External Storage in Gaming Device Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Solid State Drive (SSD), Hard Disk Drive (HDD)); Storage Capacity (Less than 512 MB, 513 MB - 1 GB, 1 GB - 4GB, 5 GB and Above); End User (Individual, Commercial) and Geography
Video Surveillance Storage Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Deployment (On-Premise, Cloud, and Hybrid); Technology (NAS, DAS, and SAN); Storage Media (Hard Disk Drives and Solid State Drives); End-user (BFSI, Retail, Transportation & Logistics, Healthcare, Education, Hospitality, Government & Defense, Utilities, and Residential)
External Storage Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Storage Type (Optical Storage, Solid-State Storage Devices, Flash Storage Devices, External Hard Drives, Others); End-user (Enterprise, Consumer) and Geography
SAS Hard Disk Drives Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Internal HDD, External HDD); Storage Capacity (500 GB, 1 TB, More than TB); Industry (Manufacturing, Media and Entertainment, Corporate, Others) and Geography
Next Generation Data Storage Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Storage Architecture (File- and Object-Based Storage, Block Storage); Storage System (Direct-Attached Storage, Network-Attached Storage, Storage Area Network); Storage Medium (Hard Disk, Drive Solid-State, Drive Tape); End User (Enterprises, Government Bodies, Telecom Companies, Cloud Service Providers ) and Geography
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
Press Release: https://www.theinsightpartners.com/pr/solid-state-drives-market
More Research: https://www.einpresswire.com/newsroom/the_insight_partners/