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The Solid-State Drive (SSD) market is seeing eminent patterns that mirror the continuous advancement of capacity innovations and changing buyer inclinations. One conspicuous pattern is the rising pervasiveness of NVMe SSDs. NVMe, utilizing PCIe interfaces, conveys essentially quicker information move speeds contrasted with customary SATA-based SSDs. This pattern is driven by the interest for further developed execution, particularly in gaming, content creation, and endeavor applications. As clients look for quicker and more responsive stockpiling arrangements, NVMe SSDs have turned into the go-to decision, and their reception is supposed to keep filling before very long.
The rise of high-capacity SSDs is yet another important development in the SSD market. As information stockpiling needs keep on raising, there is a developing interest for SSDs that offer bigger stockpiling limits. Producers are answering by creating SSDs with higher terabyte limits, taking special care of the requirements of experts managing enormous datasets and those requiring adequate capacity for sight and sound substance. This pattern is especially clear in server farms, where high-limit SSDs are conveyed to fulfill the needs of distributed computing, large information examination, and different information concentrated applications.
Another significant trend that is influencing the market is the consumerization of SSDs. Generally connected with big business applications and superior execution registering, SSDs are progressively becoming standard in shopper gadgets. The pattern is obvious in PCs, work areas, and in any event, gaming consoles, where SSDs upgrade generally speaking framework responsiveness, lessen boot times, and further develop client experience. This purchaser driven reception is additionally filled by diminishing costs of NAND streak memory, making SSDs more open to a more extensive crowd.
Moreover, the SSD market is encountering a shift towards 3D NAND innovation. Conventional planar NAND innovation is giving way to 3D NAND, which stacks memory cells in an upward direction, considering higher capacity densities in a similar actual impression. This pattern tends to the requirement for expanded capacity limits without compromising execution. Subsequently, SSDs using 3D NAND innovation are turning out to be more predominant, offering a harmony between limit, speed, and dependability.
The rising spotlight on supportability is affecting business sector patterns in the SSD business. With natural worries acquiring conspicuousness, makers are investigating ways of making SSD creation more eco-accommodating. Endeavors incorporate taking on reasonable obtaining rehearses for unrefined substances, limiting energy utilization during assembling cycles, and creating reusing programs for end-of-life SSDs. This trend is indicative of a larger industry commitment to lessening technology products' negative effects on the environment.
SSDs that are small and portable are gaining popularity in terms of form factors. The interest in outside SSDs with USB or Thunderclap availability is rising, driven by clients who require quick and convenient stockpiling arrangements. These reduced SSDs are great for content makers, photographic artists, and experts in a hurry, offering high velocity information move in a little, convenient structure factor.
Looking forward, the SSD market is supposed to keep developing as mechanical advancements persevere and client requests shape the scene. SSDs may become more cost-effective for a wider range of applications as a result of emerging technologies like QLC NAND. Furthermore, the joining of SSDs into arising advances like 5G organizations, edge registering, and IoT gadgets is probably going to drive recent fads and valuable open doors, cementing the place of SSDs as a significant part in the quickly progressing computerized environment. In synopsis, the market patterns of the Solid-State Drive industry highlight a powerful scene driven by execution upgrades, expanded limits, shopper reception, maintainability, and the quest for development.
Solid States Drives Market Highlights:
Global Solid-State Drive (SSD) Market Overview:
Solid State Drive Market Size was valued at USD 33.2 Billion in 2023. The Solid State Drive industry is projected to grow from USD 36.4 Billion in 2024 to USD 89.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.20% during the forecast period (2024 - 2032). The increasing adoption of high-end cloud computing interfaces and the expanding requirement for reliable data storage solutions across enterprises for performing file back-up and archiving information are the major market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Solid-State Drive (SSD) Market Trends
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Growing demand for cloud computing to boost the market growth
With the emergence of numerous cloud platforms, from the old corporate private and new public clouds to home-based personal clouds, the need for solid-state drives (SSD) has been rising quickly. Several significant players oversee their cloud infrastructures and respond to the expanding SSD demand from consumers. As an illustration, Google (US) employs permanent solid-state drive (SSD) storage in open beta for users of the compute engine, offering high input/output operations per second (IOPS) and enabling Google Cloud Platform customers to access the solid-state drive (SSD) more quickly on workloads. Thus, the growing use of cloud computing has enhanced the solid-state drive (SSD) market CAGR globally in recent years.
Solid-State Drive (SSD) Market Segment Insights:
Solid-State Drive (SSD) Interface Insights
The Solid-State Drive (SSD) Market segmentation is based on interface, SATA, SAS, and PCIe. The SATA sector dominated the market in 2021. The vast demand for solid-state drives using SATA interfaces can be largely ascribed to the interfaces' low cost.
April 2021: Samsung Electronics has released its new PM9A1 SSD, which features a PCIe 4.0x4 interface. It comes in capacities ranging from 256 GB to 2 TB. This advancement was intended for PC usage, notably for corporations and government agencies dealing with sensitive data and advanced security requirements. This announcement has further broadened the growth opportunity for the solid-state drive (SSD) industry.
Additionally, in 2021, the PCI interface witnessed significant growth in the forecast period with respect to the Solid-State Drive (SSD) Market revenue. The consecutive and ongoing product launches using the PCIe interface by significant key players in the solid-state drive (SSD) market indicate the growth in demand for its usage.
Solid-State Drive (SSD) Technology Insights
The Solid-State Drive (SSD) Market segmentation, based on technology, includes SLC, MLC Planar, MLC 3D, TLC Planar, and TLC 3D. In 2021, the TLC Planar segment acquired a major market share. The cost per GB of solid-state drive (SSD) decreases as the technology switches from SLC to MLC and from MLC to TLC. However, the MLC Planar sector also experienced considerable growth. The rising use of smartphones, PCs, and tablets is one of the main factors driving the growth of the MLC NAND Memory industry. Hence, rising applications of MLC Planar for solid-state drive (SSD) positively impacts the market growth.
Solid-State Drive (SSD) Storage Insights
The Solid-State Drive (SSD) Market data has been bifurcated by storage into under 500 GB, 500 GB–1 TB, 1 TB – 2 TB, and above 2 TB. A growing number of people are using 1 TB SSD storage because of its exceptional mechanical and performance attributes. The above 2 TB storage also witnessed significant growth. Due to advantages like cheap cost and non-volatility compared to dynamic random-access memory, most SSD manufacturers currently use NAND flash-based memory with capacities greater than 2 TB.
Solid-State Drive (SSD) End User Insights
Based on End Users, the global solid-state drive (SSD) industry has been segmented into enterprise, client, industrial, and automotive. The client sector acquired the major market share. Netbooks, notebooks, ultrabooks, single-user desktop or laptop systems used in homes or small workplaces, and other single-user applications use client SSDs in the consumer market.
Figure 2: Solid-State Drive (SSD) Market, by End-User, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The second fastest-growing segment in the solid-state drive (SSD) industry is the retail segment. Due to their improved reliability, endurance, error incidence, and performance parameters, enterprise-class SSDs are favored for mission-critical applications and data centers.
Solid-State Drive (SSD) Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. North American Solid-State Drive (SSD) market accounted for USD 12.05 billion in 2021 and is expected to exhibit a significant CAGR of 43.2 percent growth during the study period. The development of 5G technology in the US and Canada is anticipated to substantially impact the market expansion. The CTIA claims that this quick adoption of 5G will lay the framework for a 5G economy in the US, resulting in investments totaling USD 275 billion, creating 3 million new jobs, and increasing GDP by USD 500 billion.
Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: GLOBAL SOLID STATE DRIVE (SSD) MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's solid-state drive (SSD) market accounts for the second-largest market share. The region's rapid adoption of smart devices, increased investments in IT infrastructure development, and the quick uptake of cloud computing are all contributing to an increase in demand for solid-state drives in European markets. HiDrive describes itself as "Germany's largest cloud computing platform," with over 3.8 million registered customers. Further, the German solid-state drive (SSD) market held the largest market share, and the UK solid-state drive (SSD) market was the fastest-growing market in the European region.
The Asia-Pacific Solid-State Drive (SSD) Market is expected to grow at the fastest CAGR from 2022 to 2030. New SSD solutions have been created due to the nation's adoption of blockchain technology and the Internet of Things. In China, 8.8 billion linked devices are anticipated to exist by 2021. To fulfill domestic and global demand and the escalating rivalry, several of the market's top vendors also focus on the mass production of solid-state drives (SSD). Moreover, China’s solid-state drive (SSD) market held the largest market share, and the Indian solid-state drive (SSD) market was the fastest-growing market in the Asia-Pacific region.
Solid-State Drive (SSD) Key Market Players & Competitive Insights
The market will expand due to major market players investing heavily in R&D to broaden the range of products they provide. In addition to significant market developments like introducing new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are taking part in several strategic initiatives to expand their reach internationally. To grow and thrive in the solid-state drive (SSD) industry, rival companies must provide their goods at reasonable costs.
Local production to cut operating costs is one of the main business methods manufacturers utilize in the global solid-state drive (SSD) industry to help clients and grow the market sector. Some of the most significant medical advancements have been facilitated by the solid-state drive (SSD) industry. The solid-state drive (SSD) market major players such as Kingston Technology (US), Western Digital (US), Micron Technology Inc. (US), Samsung (South Korea), and others are assisting R&D initiatives to increase market demand.
Micron Technology, Inc. is an American manufacturer of computer memory and data storage products such as dynamic random-access memory (DRAM), flash memory, and USB flash drives. Its headquarters are located in Boise, Idaho. The Crucial brand is used to sell its consumer products, notably the Ballistix series of memory modules. In June 2022, Micron released the 5400 SATA solid-state drive (SSD) Advanced Memory System for Critical Infrastructure. Using the 5400 SSD, the company provides 176-layer NAND innovation to its data center SATA SSD. The 5400 SSD from Micron is the 11th generation4 data center SATA solid-state drive (SSD).
Also, SK Hynix Inc. manufactures dynamic random-access memory (DRAM) and flash memory chips in South Korea. Hynix is the world's second-largest memory chip manufacturer (after Samsung Electronics) and the third-largest semiconductor firm. In February 2021, South Korean storage semiconductor manufacturer SK Hynix and its US NAND flash memory solutions subsidiary Solidigm introduced solid-state drives (SSD) for data centers. The P5530 will incorporate SK Hynix's 128-layer NAND flash innovation and Solidigm's SSD controllers and software capabilities.
Key Companies in the solid-state drive (SSD) market include
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Samsung (South Korea)
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Intel (US)
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SanDisk (US)
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Micron Technology Inc. (US)
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Toshiba (Japan)
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Lite-On (Taiwan)
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Western Digital (US)
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Fusion-io (US)
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Google (US)
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Kingston Technology (US)
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NetApp (US)
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OCZ (US) and IBM (US)
Solid-State Drive (SSD) Industry Developments
To solidify its place in the NAND flash memory market and sustain its lead in the solid-state drive (SSD) industry, Samsung Electronics Co. has released its new consumer SSD product — the ‘990 EVO’ in January 2024. The cutting-edge SSD brings enhanced performance, flexibility, and technological superiority over its predecessor, the 970 EVO Plus. It represents a significant milestone for Samsung in a NAND market that was recovering from the travails of 2023. “Samsung is expanding its product lineup as part of efforts to revitalise the NAND market and defend its leadership in the SSD segment,” said sources close to the matter. Alone this year sales amounting $87 billion will be made with regards to NAND Flash Memory Chips according to Omdia which is such an exponential growth from $36.99 billion three years ago when we last checked.
March 2023: VisionTek Products LLC announced their latest lineup of M.2 solid-state drives (SSDs), boasting exceptional speed, thermal management, and durability, among other features. These next-gen form factor M.2 drives are designed for heavy workloads, thereby offering unprecedented read/write speeds of up to 7,500 megabytes per second. Additionally, DLX4 PCIe 4.0 SSDs provide low latency access times through their high bandwidth interfaces while being able to fit into systems with different sizes, such as those requiring either 2230 or even larger storage spaces like what would come with a 2280 size option ranging between capacities starting at half a petabyte up until four terabytes which makes them great performers when dealing with tasks such as gaming or video editing.
SK Hynix is planning on releasing SK Hynix Beetle X31 worldwide after launching it first in South Korea in May this year, where they received rave reviews because not only does this portable device offer faster data transfer speeds, but it also comes fitted out with better heat management system and an eye-catching look especially when considering its color scheme alone which features bright orange accents against black body making for quite the fashionable accessory among tech enthusiasts. Expected to hit shelves across America in June, the X31 will be compatible with both PC and Mac operating systems – allowing users of either platform access to their files conveniently without any hassle whatsoever.
July 2022: Kioxia Introduces New Speed Levels for its Enterprise NVMe SSD Family Built on PCIe 5.0 Technology. The PCIe 5.0 technology in E3.S and 2.5-inch Enterprise and Datacenter Standard Form Factors is used in the KIOXIA CM7 line series (EDSFF). The EDSFF E3 series enables the next generation of SSDs using PCIe 5.0 and above to meet future data center architectures while supporting a wide range of new applications and devices.
July 2022: Innodisk, a global leader in industrial-grade memory and integrated devices, introduced the 2.5" SATA 3TS6-P, 3TS9-P, and M.2 (P80) 4TS2-P SSDs as part of its unique computing power solid-state drive (SSD) product range. Innodisk's latest edge AI SSDs provide low latency, rapid DWPD (drive writes per day), and large capacity.
Solid-State Drive (SSD) Market Segmentation:
Solid-State Drive (SSD) Interface Outlook
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SATA
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SAS
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PCIe
Solid-State Drive (SSD) Form Factor Outlook
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8”/2
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5”
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5”
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2
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2 (SFF 8639)
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FHHL
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HHHL
Solid-State Drive (SSD) Technology Outlook
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SLC
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MLC Planar
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MLC 3D
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TLC Planar
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TLC 3D
Solid-State Drive (SSD) Storage Outlook
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Under 500 GB
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500 GB–1 TB
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1 TB – 2 TB
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Above 2 TB
Solid-State Drive (SSD) End-User Outlook
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Enterprise
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Client
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Industrial
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Automotive
Solid-State Drive (SSD) Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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