The Global Solid State Drive (SSD) Market size was valued at USD 30.12 Billion in 2021 and is projected to reach USD 86.12 Billion by 2030, growing at a CAGR of 14.96% from 2022 to 2030.

Solid State Drive (SSD) Market Overview

Solid State Drive is the newest technology in the field of storing information, and it can replace older storage devices like HDD. People are using the Internet more, the e-commerce market is growing, digitalization is moving quickly, and the volume of data transfer from new media is going up. All of these things are expected to affect the Solid State Drive Market. But the high cost of SSDs compared to HDDs could slow the market's growth because SSDs are usually six to seven times cheaper than HDDs. In the coming years, the market is expected to grow in new ways thanks to the new hybrid systems with hard disc drives (HDDs). The big players in the market are focusing on the growth of SSDs with more storage space. Most of the rapid growth in the Solid State Drive (SSD) Market is thought to be coming from the Asia-Pacific region. The Solid State Drive Market in this part of the world is driven by the fact that more and more businesses are using cloud computing and that there are more and more data centres in the Asia-Pacific region.

Solid State Drive (SSD) is a broad term for what is mostly called an electronic disc or a solid-state disc. The device is used to store data and keeps it safe by using integrated circuits as a memory. It's not the same as a hard disc drive because SSDs don't have any other parts that can move. They also keep and store data without using any more power, which is possible because they use NAND-flash memory chips, which are very advanced. Solid-state drives perform better than traditional drives in many ways, such as having a faster random access speed, being able to handle many tasks at once, and being more reliable and lasting. Because of their non-volatile memory technology, SSDs are a much better choice for large data centres around the world. They offer very high speed, advanced hierarchical storage, and a lot of mass storage space. They also have the same high-speed advanced bus interface, which makes it possible for enterprise systems to share information very quickly. The leading companies in the Solid State Drive (SSD) market include Intel Corporation, Kingston Technologies, Samsung Electronics Co., Ltd., and others.

Market Dynamics

Drivers:

In a world where cloud computing is the most popular choice for businesses, customers are interested in backing up and archiving their data. Solid State Drive (SSD) market share has been growing at the same rate as the number of cloud platforms, from old corporate private clouds to new public clouds to personalised clouds in people's homes. The rise of SSDs with new interfaces like PCIe, NVMe, and others is also due to technical progress in the field of solid-state storage. PCIe SSDs are used more for cloud computing on the global platform because they have new and better features, like faster speeds and easy access to data. With the arrival of new PCIe SSDs, which promise to offer better performance with higher frequency and less latency, this is now possible. Even so, a solid-state drive with advanced features is definitely needed for different complicated operations in data-sensitive industries like primary financial services, life sciences lessons, and effective energy management, where each microsecond of latency has shown a big loss in daily revenues.

Market Opportunities

The enterprise Solid State Drive (SSD) market share is booming like never before. It is a worldwide market. It is a platform that works together. This has a lot to do with small and medium-sized businesses (SMEs). The Solid State Drive (SSD) Market share 2017 worldwide sales is great. The market is very competitive. Also, the fact that the local government encourages the spread and use of these technologies or services is an opportunity for the public-owned car market to reach more people. Dependence on modern devices for business and personal use can increase the need or expectation for the Solid State Drive (SSD) Market over the next few years.

Market Restraints

There is always a worry about the growth of the world's health market. Because of this, the SSD controller market share changes every day and tries to fix its problems. Restraints are more likely to happen because the industry doesn't know enough about how nanosensors are governed. Because of this, many companies are told to have their operations constantly watched to lower the risks and improve the security features.

Segment Overview

When the interface is taken into account, it is further divided into SATA, SAS, and PCIe. PCIe are becoming more popular and are used in more industries. In 2021, the market for PCIe is expected to be worth USD 25.33 billion, and it is expected to grow at a CAGR of 20.6%. The fact that major key players in the SSD industry keep putting out new products with PCIe interface shows that its use is becoming more popular, and it is expected that PCIe interface-based Solid Storage Devices will grow a lot in the next few years. The SAS Computer System Interface Solid State Drive is more expensive than the SATA drive. It is mostly used in servers and computer workstations with a lot of processing power and high read/write speeds. SAS SSD developers are always making new products to make storage devices more useful for today's needs. The change from 12G to 24G is a sign of this. The SAS Enterprise SSD market focuses on maximising speed and capacity for AI and big data workloads on enterprise servers. This is important for mission-critical data. To meet these needs, companies are making SSDs with an SAS interface for advanced enterprise server systems.

Based on the application, they can be split into two groups: Enterprise and Client. The Client had the largest share of the market in 2021, and it is expected to grow at a CAGR of 19.8%. As the use of client SSDs has grown, market leaders have come out with a new line of products to take advantage of the market's growth. Along with the introduction of enterprise-class SSDs, the market for SSDs has been led by the development of Client SSDs. Client SSDs are used in the consumer sector for netbooks, notebooks, ultrabooks, single-user desktop or laptop systems used in homes, small offices, and other single-user applications. They are mostly made to work every day for eight hours at 40 degrees Celsius. The shift in consumer behaviour from hard disc drives to solid-state drives is the most noticeable trend that has gained traction and sped up the growth of Client SSDs. This was followed by the market being split into mainstream and value segments. Enterprise-class SSDs are better for mission-critical apps and data centres because they are more reliable, last longer, have fewer errors, and perform better. Most of the time, these are used in high-powered computers and servers in data centres. As the demand for enterprise-class SSDs in data centres grows, the main players are increasing the number of storage devices they can make.

Regional Analysis

The global market for solid-state drives is mostly divided into three big areas: North America, Europe, and Asia-Pacific. Asia-Pacific is the most important region, with a market worth of USD 17.55 billion in 2021 and a CAGR of 19%. New SSD solutions have been made possible by the growth of blockchain technology and the Internet of Things in the country. Some of the biggest companies on the market are also focusing on mass production of SSDs to meet demand at home and abroad and to keep up with the growing competition. Several of the governments of the countries in the "Rest of Asia-Pacific" have taken steps to encourage the growth of data centres in the area, which has increased the demand for solid-state drives (SSDs). The next region with a big share of the market is Europe, which is expected to grow at a CAGR of 16.8%.

Scope Analysis:

Recent Developments

• In May 2018, Western Digital launches 3D NAND SATA SSD with 64-layer 3D NAND technology for high capacity and reduced cell-cell interference for enhanced reliability.
• In August 2017, Samsung Launches Portable SSD T5, Latest 64-Layer V-NAND Technology, Delivers Industry-Leading Transfer Speeds With Encrypted Data Security.
• In August 2017, Micron expanded its manufacturing facilities in Boise, Idaho, US. Investments in R&D are dedicated to developing new semiconductor manufacturing processes and designs for the company's future memory and storage technologies.

Market Segmentation

This portion of the study on the Solid State Drive (SSD) Market gives detailed data on the segments at the country and regional level, thereby aiding the strategist in determining the target demographics for the relevant product or service and the impending opportunities.

By SSD Interface

• SATA
• SAS
• PCIe
• Others

By Application

• Enterprise
• Client
• Other

By Companies

• ADATA Technology Co. Ltd
• Bitmicro networks Inc.
• Kinston Technologym
• KIOXIA America, Inc. (Toshiba Corporation)
• Micron
• Microsemi
• Mushkin Enhanced MFG
• Netapp
• Samsung
• Seagate Technology LLC
• SK Hynix Inc
• Viking Technology
• Western Digital
• Transcend Information Inc.