Solid State Drive (SSD) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Solid State Drive (SSD) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A5566
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Market Overview:

The global solid state drive (SSD) market size reached US$ 46.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 110.2 Billion by 2028, exhibiting a growth rate (CAGR) of 14.23% during 2023-2028.

Solid state drive (SSD) refers to an integrated, non-volatile data storage device that utilizes amalgamated circuits as a memory to store persistent visual data. It consists of interconnected microchips rather than spinning discs that aid in accessing memory by substantially reducing startup time. As compared to hard disk drives (HDD), SSD is more portable, offers higher speed and exhibits better physical shock-resistant properties and lesser data access latency. Apart from this, it generates low heat, which increases the lifespan of big data, provides video-on-demand services, and performs faster data reads and writes, while ensuring minimal power consumption. Consequently, SSD is extensively used across enterprises for eliminating mechanical failures, thus assisting in enhancing the overall operational performance.

 

 
 

 

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Solid State Drive (SSD) Market Trends:

The global SSD market is being driven by the increasing penetration of high-end cloud computing interfaces and the rising need for effective data storage solutions across organizations for performing file back-up and archiving information. The increasing product need can also be attributed to the growing instances of computer crash and cyberattacks, which can cause file deletion and provide data access to unauthorized users. In line with this, the introduction of peripheral component interconnect express (PCIe) and non-volatile memory express (NVMe) interfaces that offer high-performance services with better frequency are acting as other growth-inducing factors. Such advancements have facilitated its widespread adoption across several data-sensitive sectors, including data centers and financial institutions. Additionally, the large-scale integration of NAND flash memory, which does not require power to retain data, with SSD for improving site security and providing more reliable services on e-commerce platforms is propelling the market growth. Apart from this, the continuous investments in research and development (R&D) activities and strategic collaborations amongst key players to enhance SSD capabilities are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global solid state drive (SSD) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, interface, form factor, storage and application.

Breakup by Type:

 

 
 

 

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  • External
  • Internal
     

Breakup by Interface:

  • SATA
  • SAS
  • PCIe
     

Breakup by Form Factor:

  • 1.8”/2.5”
  • 3.5”
  • M.2
  • U.2 (SFF 8639)
  • FHHL and HHHL
     

Breakup by Storage:

  • Under 500 GB
  • 500 GB–1 TB
  • 1 TB–2 TB
  • Above 2 TB
     

Breakup by Application:

  • Enterprise
  • Client
  • Others
     

Breakup by Region:

 

 
 

 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ADATA Technology Co. Ltd., Corsair Gaming Inc., Kingston Technology Corporation, KIOXIA Holdings Corporation, Micron Technology Inc., Samsung Electronics Co. Ltd., Seagate Technology LLC, SK hynix Inc., Toshiba Corporation, Transcend Information Inc. and Western Digital Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Type, Interface, Form Factor, Storage, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ADATA Technology Co. Ltd., Corsair Gaming Inc., Kingston Technology Corporation, KIOXIA Holdings Corporation, Micron Technology Inc., Samsung Electronics Co. Ltd., Seagate Technology LLC, SK hynix Inc., Toshiba Corporation, Transcend Information Inc. and Western Digital Corporation.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global solid state drive (SSD) market was valued at US$ 46.2 Billion in 2022.

We expect the global solid state drive (SSD) market to exhibit a CAGR of 14.23% during 2023-2028.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units for Solid State Drive (SSD).

The rising instances of cyberattacks, along with the increasing utilization of Solid State Drive (SSD) for eliminating mechanical failures and enhancing the overall operational performance, are primarily driving the global solid state drive (SSD) market.

Based on the interface, the global solid state drive (SSD) market has been segmented into SATA, SAS, and PCIe. Currently, SATA holds the majority of the total market share.

Based on the form factor, the global solid state drive (SSD) market can be divided into 1.8”/2.5”, 3.5”, M.2, U.2 (SFF 8639), and FHHL and HHHL. Among these, 1.8”/2.5” exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global solid state drive (SSD) market include ADATA Technology Co. Ltd., Corsair Gaming Inc., Kingston Technology Corporation, KIOXIA Holdings Corporation, Micron Technology Inc., Samsung Electronics Co. Ltd., Seagate Technology LLC, SK hynix Inc., Toshiba Corporation, Transcend Information Inc., and Western Digital Corporation.

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Solid State Drive (SSD) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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