Solid State Drive Market worth 60.22 Billion USD by 2023 with a growing CAGR of 14.68%
According to the new research report "Solid
State Drive (SSD) Market by Form Factor (2.5", 3.5", M.2, U.2/SFF
8639, FHHL/HHHL), Interface (SATA, SAS, PCIe), Technology (SLC, MLC, TLC),
End-user (Enterprise, Client, Industrial, Automotive), and Geography - Global
Forecast to 2023", the solid state drive market is expected to be
worth USD 26.47 Billion in 2017 and USD 60.22 Billion by 2023, at a CAGR of
14.68% between 2017 and 2023. The growth of this market is mainly driven by the
increasing penetration of high-end cloud computing, growing adoption of SSDs in
data centers, and advantages of SSDs over HDDs.
Market for SATA interface solid state drive held the
largest size in 2016
The large market of SATA interface solid state drive is
mainly attributed to the low price of SSDs compared to SSDs with SAS and PCIe
interfaces. In addition, old desktop PCs support only SATA interface for the
upgrade of storage from HDDs to SSDs. This is driving the demand for SSDs with
SATA interface during the forecast period.
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Market for half height, half length (HHHL); or; even
bigger form factor; full height, half length (FHHL) form factor–based solid
state drive is expected to grow at the highest rate during the forecast period
Most of the PCIe SSDs are manufactured in form factors such
as half height, half length (HHHL); or; even bigger form factor; full height,
half length (FHHL). The market for PCIe interface is expected to dominate the
use of all other available interfaces owing to high speed and enhanced
performance scaling. Therefore, the market for FHHL and HHHL is expected to
grow at the highest CAGR during the forecast period
Solid state drive market in enterprise held the largest
size in 2016
An increasing number of enterprise applications require high
performance storage, constant uptime, high throughput, power efficiency, and
high reliability; SSDs meet all these requirements of enterprise applications,
thereby creating enterprise data centers more dynamic. SSDs for data centers
offer high speed, mass volume, and energy-efficient hierarchical storage. SSDs
based on the non-volatile memory technology are widely used for mass storage
and high-functionality storage. Also, the PCIe interface used in SSDs is a
high-speed bus interface that provides enterprise systems with a high
data-transfer speed, which helps companies manage heavy workloads with high
reliability and efficiency.
North America accounted for the largest share of the
solid state drive market in 2016
North America is a key market for notebooks, laptops, and
tablets. With more emphasis on speeding up data transfer, the dynamics of
computing has changed for notebook, tablet, and laptop developers in this
region; hence, there has been a strong push for using SSDs in these devices to
save time, speed up data transfer, and achieve high-performance level. In
addition, the replacement rate of traditional hard disk drives with SSDs is
high in North America.
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Samsung (South Korea), Intel (US), Western Digital (US),
Micron (US), and Toshiba (Japan) are the major players included in the report
with market share analysis. The report also covers various innovators involved
in the solid state drive market. Viking (US), Adata (Taiwan), Foremay (US),
BiTMICRO Networks (US), and Crossbar (US) are a few innovators in the solid
state drive market that offer disruptive products. Also, Diablo Technologies
(Canada) and Violin Memory (US) are a few emerging companies in the market.
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