iCrowdNewswire Jan 14, 2021 11:43 AM ET
Market Research Future published a research report on “Solid-State Drive Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Solid-state drives (SSDs) are storage devices able to retain data without consuming power. Benefits of SSDs such as high random-access speed, high reliability, and multi-tasking ability can drive its demand among consumers. The global solid-state drive market report by Market Research Future (MRFR) covers drivers, challenges, and estimations for the period of 2018 to 2023 (forecast period). The outbreak of the COVID-19 virus and its effects on the industry have been noted and explained in a comprehensive manner.
The global Solid-State Drive Market size is expected to expand from USD 21.78 billion in 2017 to USD 50.72 billion by 2023, according to MRFR. It is expected to expand at a CAGR of 15.13% during the forecast period. It is driven by the demand for high-speed data transfer, expansion of the Internet, advances of digitalization, and growing e-commerce industry. Benefits of SSD such as high durability, multi-tasking, and high random-access speed can drive its demand among enterprises and individuals.
The increasing capacity of households for consuming large volumes of data owing to low latency in internet speeds, procurement of storage devices, and a surge in OTT platforms. Advances in solid-state drives for entrepreneurial use, demand for storage infrastructure, and adoption of SSDs in data centers can influence the market demand over the forecast period. Applications in content delivery, big data, e-commerce, search, and social networking can drive SSD demand owing to high computing power and low power consumption.
The COVID-19 pandemic will have a negligible impact on solid-state drives semiconductor production has been automated with major companies in China having ample stock of raw materials. Recently, Samsung Corporation has decided to establish a new plant in South Korea for expanding its V-NAND production. The pandemic has accelerated the shift to automation with many players following suit.
But high costs of solid-state drive compared to hard disk drives can impede market growth.
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By type, the market is segmented into SLL (Single Level Cell), MLL (Multi-Level Cell), and TLL (Triple Level Cell).
By storage interface, the market is segmented into PCIe, SATA, and SAS.
By storage capacity, the market is segmented into less than 250 GB, 251GB to 500GB, 501GB to 1 TB and more than 1 TB
By application, the market is segmented into PCs, laptops, data centers and others.
By end-users, the market is segmented into client and enterprise users, industrial and automotive.
The geographical analysis of solid-state drives market is done for North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is expected to dominate the global SSD market due to increasing demand for advanced computing systems, adoption of cloud computing, and proliferating big data analytics. Huge establishment of data centers coupled with demand for personal computers and laptops can drive the market demand. The dipping prices of SSDs and demanding applications in artificial intelligence can favor the market.
APAC is the fastest growing market owing to the growing demand from countries such as India, China, Taiwan, and Japan. The market in this region is driven by the growing applications of cloud computing in enterprises and the growth of data centers.
Google, Fusion-io, IBM, Samsung, Intel, NetApp, Micron Technology, Inc., Western Digital, SanDisk, Lite-On, Toshiba, OCZ, and Kingston Technology are key players of the global SSD market. The high competition in flash memory storage is likely to drive the production numbers among players. SSD options in large servers for increasing their storage capacity and the looming of new technologies can offer new growth opportunities for the market.
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Table of Content:
Solid-State Drive Market Research Report 2019-2023
Chapter 1: Industry Overview
Chapter 2: Solid-State Drive Market International and Market Analysis
Chapter 3: Environment Analysis of Solid-State Drive
Chapter 4: Analysis of Revenue by Classifications
Chapter 5: Analysis of Solid-State Drive Market Revenue Market Status
Chapter 6: Analysis of Revenue by Regions and Applications
Chapter 7: Analysis of Solid-State Drive Market Key Manufacturers
Chapter 8: Sales Price and Gross Margin Analysis
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