NEW YORK , July 23, 2024 /PRNewswire/ -- The global solid state drive (SSD) market size is estimated to grow by USD 167.41 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 35.
02% during the forecast period. enhanced performance and durability is driving market growth, with a trend towards emergence of portable SSDs. However, poor latency and endurance poses a challenge.
Key market players include ADATA Technology Co. Ltd., Corsair Gaming Inc.
, DataDirect Networks Inc., Intel Corp., International Business Machines Corp.
, Kingston Technology Co. Inc., Kioxia Corp.
, LITE ON Technology Corp., Maxta Inc., Micron Technology Inc.
, NetApp Inc., Pure Storage Inc., Samsung Electronics Co.
Ltd., Seagate Technology Holdings Plc, Simms International plc, SK hynix Co. Ltd.
, Sony Group Corp., Toshiba Corp., Transcend Information Inc.
, and Western Digital Corp.. Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report Solid State Drive (SSD) Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 35.
02% Market growth 2024-2028 USD 167419.9 million Market structure Fragmented YoY growth 2022-2023 (%) 26.06 Regional analysis APAC, North America, Europe, South America, and Middle East and Africa Performing market contribution APAC at 30% Key countries US, China, Japan, South Korea, and Taiwan Key companies profiled ADATA Technology Co.
Ltd., Corsair Gaming Inc., DataDirect Networks Inc.
, Intel Corp., International Business Machines Corp., Kingston Technology Co.
Inc., Kioxia Corp., LITE ON Technology Corp.
, Maxta Inc., Micron Technology Inc., NetApp Inc.
, Pure Storage Inc., Samsung Electronics Co. Ltd.
, Seagate Technology Holdings Plc, Simms International plc, SK hynix Co. Ltd., Sony Group Corp.
, Toshiba Corp., Transcend Information Inc., and Western Digital Corp.
Market Driver The global SSD market is experiencing significant growth due to the introduction of advanced portable SSD alternatives. For instance, Kingston Technology's XS2000 offers USB 3.2 Gen 2x2 speeds for next-generation performance in a compact, portable external drive.
Micron Technology has expanded its portable SSD portfolio, providing consumers with various options for external storage based on performance, capacity, and value. Their new offerings include a high capacity 4TB and a 500GB portable SSD. These portable SSDs deliver superior speed and performance in a convenient, on-the-go format, fueling the expansion of the SSD market.
The SSD market is thriving with advancements in NAND technology. MLC Planar and MLC 3D are giving way to TLC 3D, offering more storage at lower costs. Smartphones and PCs are leading the demand for SSDs under 500 GB, while Enterprise, Client, Industrial, Netbooks, Ultrabooks, and Laptop systems in the 500 GB–1 TB and 1 TB–2 TB range are growing.
Homes and small workplaces in the Consumer market prefer SSDs over HDDs. MnM, PCI Express, SATA, 2 (SFF 8639), FHHL, and HHHL interfaces cater to various system requirements. SLC, MLC, and TLC, with RI and NAND 3D technologies, ensure efficient data access for Single-user desktops and laptop systems.
Discover 360° analysis of this market. For complete information, schedule your consultation - Book Here! Market Challenges For more insights on driver and challenges - Request a sample report! Segment Overview This solid state drive (ssd) market report extensively covers market segmentation by 1.1 TLC- The TLC segment of the Solid State Drive (SSD) market is an emerging and cost-effective option for consumer applications.
TLC, or Triple-Level Cell, is the least expensive form of NAND flash memory, storing three bits per cell. Despite having lower performance, less endurance, and fewer write cycles compared to SLC and MLC, TLC is ideal for consumer usage due to its high storage density and low cost. Samsung Electronics, for instance, offers a 100+ layer 250GB V6 SATA SSD, which utilizes sixth-generation V-NAND technology, 136 layers of charge trap flash cells, and TLC 3bits/cell.
With better error correction requirements and a lower price point, the TLC segment is expected to drive the growth of the global SSD market, offering a cost-effective solution for consumers. For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report Learn and explore more about Technavio's in-depth research reports The global Client Solid-State Drive (SSD) market is witnessing rapid growth driven by increasing demand for high-performance storage solutions in personal computing and enterprise environments. Advances in technology and declining prices are fueling adoption rates.
Meanwhile, the global All Flash Array market is expanding due to its superior speed and efficiency over traditional storage systems, making it a preferred choice for data centers and cloud services. Key players in both markets are investing heavily in innovation to cater to the rising demand for faster, more reliable data storage solutions. Research Analysis Solid State Drives (SSDs) are digital storage devices that use NAND flash memory instead of spinning disks like Hard Disk Drives (HDDs).
SSDs offer several advantages over HDDs, including faster read and write speeds, lower power consumption, and no moving parts, making them ideal for high-performance applications. SSDs come in various interfaces such as PCI Express (PCIe), SATA, and M.2 (SFF 8639), with form factors including Full Height Half Length (FHHL) and Half Height Half Length (HHHL).
TLC Planar and SLC are common types of NAND flash memory used in SSDs. SSDs are widely used in high-end cloud computing, automotive, and other applications requiring fast storage. The NVMe interface is gaining popularity due to its high bandwidth and low latency, making it a preferred choice for PCIe SSDs.
Solid-state drive providers continue to innovate, offering solutions for low-cost interface designs and advanced technologies like relational analytics. Market Research Overview Solid State Drives (SSDs) have revolutionized the storage industry, offering faster read and write speeds compared to traditional Hard Disk Drives (HDDs). SSDs use NAND flash memory, available in various types such as TLC Planar, SLC, and MLC, and the latest 3D NAND technology.
SSDs come in different interfaces including SATA, PCI Express (PCIe), and Mini-SAS (MnM), with form factors like 2.5" (SFF 8639), Half-Height Half-Length (HHHL), and Full-Height Full-Length (FHHL). SSDs are used in high-end cloud computing, automotive infotainment systems, next-generation connected cars, data centers, and various consumer applications like notebooks, tablets, smartphones, and PCs.
The market for SSDs is vast, catering to Enterprises, file back-up, archiving information, cloud platforms, compute engine, and more. In April 2021 , Samsung Electronics launched the PM9A1 SSD, designed for sensitive data with security requirements. SSDs offer benefits like performance, reliability, endurance, flexibility, and security through hardware-based and software-based encryption.
The market continues to grow, with advancements in NVMe, IEEE 1667, and design complexity. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.
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