USD 30.12 Billion
Solid State Drive (SSD) Market Size, Share, Growth Analysis, By Form Factor(2.5”, 3.5”, M.2, U.2/SFF 8639), By Interface(SATA, SAS, PCIe), By Technology(SLC, MLC, TLC), By End User(Enterprise, Client, Industrial, Automotive), By Storage(Under 500 GB SSD, 599 GB – 1 TB SSD, 1 TB – 2 TB SSD, Above 2 TB SSD), By Region - Industry Forecast 2024-2031
Report ID:
SQSG45J2024 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
148
|Figures:
78
Solid State Drive (SSD) Market Insights
Solid State Drive (SSD) Market was valued at USD 30.12 Billion in 2019, and USD 34.63 in 2019 and it is expected to reach a value of USD 86.12 Billion by 2031, at a CAGR of 14.9% over the forecast period (2024-2031).
Data storage demand has increased significantly in recent years and is anticipated to continue rising in the coming years. To meet this massive demand for data storage, solid-state drives (SSDs) and hard disc drives (HDDs) have emerged as the two primary storage alternatives, each with their own set of advantages. SSDs are non-volatile storage mediums that are similar to HDDs. Instead of spinning discs, however, data is stored in a network of interconnected microchips. This results in much faster memory access and significantly shorter startup times in SSDs. These considerations are driving up the use of SSD in the computing process.
Furthermore, SSDs are attracting customers' attention globally due to their multiple benefits, such as rapid read-write speed, no noise, lower consumption, mobility, and so on. It can provide faster, more energy-efficient, and more secure data storage. Furthermore, the game loading speed has increased, as has the responsiveness and seamless multi-task processing capacity. Furthermore, bigger SSD capacities at sensitive price ranges are projected to result in higher attach rates over time, in the form of new notebook and desktop PCs, as well as detachable tablets. Many enterprise applications require high dependability, uptime, high-performance storage devices, low power consumption, and fast throughput. SSDs meet all of these criteria in the enterprise.
US Solid State Drive (SSD) Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Enterprise
Fastest Growth
Enterprise
Growth Rate
14.9% CAGR
Global Solid State Drive (SSD) Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
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Solid State Drive (SSD) Market Segmental Analysis
The global solid state drive (SSD) market is segmented based on form factor, interface, technology, end user, storage, and region. Based on the form factor, the market is segmented into 2.5”, 3.5”, M.2, U.2/SFF 8639, FHHL/HHHL. Based on the interface, the market is segmented into SATA, SAS, PCIe. Based on the technology, the market is segmented into SLC, MLC, TLC. By storage, the market is segmented into Under 500 GB SSD, 599 GB – 1 TB SSD, 1 TB – 2 TB SSD, Above 2 TB SSD. Based on the end user, the market is segmented into enterprise, client, industrial, automotive. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Solid State Drive (SSD) Market Analysis by End User
Based on the end user, the market is segmented into enterprise, client, industrial, automotive. Among these, the automotive segment of the market is projected to hold the most substantial share in the market. The growing need for automotive infotainment systems and next-generation connected automobiles is predicted to fuel the expansion of the solid state drive industry, as connected car applications necessitate high-performance graphics, communications, and data storage, which SSDs meet. SSD is a flash storage solution that provides dependable, high-performance storage in a variety of in-vehicle applications, including 3D mapping and enhanced augmented reality in navigation systems, entertainment systems, intelligent driver-assist technologies, and data event recorders.
Global Solid State Drive (SSD) Market By End User, 2021 (%)
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Solid State Drive (SSD) Market Regional Insights
In 2021, North America is expected to hold a significant share of solid state drive (SSD) market share. The region comprises the two most developed economies of the globe that are the US and Canada. Leading North American firms offer the most modern SSDs as advanced storage solutions to a variety of industries. Enterprises in the United States are expanding their investments in IT infrastructure in order to obtain a competitive advantage and boost corporate productivity. As a result, there has been a strong push for the use of SSDs in IT infrastructure devices to save time, speed up data transfer, and reach high levels of performance. Furthermore, traditional hard disc drives are being replaced with SSDs at a rapid pace in North America. Further, the Asia-Pacific region is projected to register the fastest growth in the market in the upcoming years.
Global Solid State Drive (SSD) Market By Geography, 2021 - 2028
- Largest
- Fastest
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Solid State Drive (SSD) Market Dynamics
Solid State Drive (SSD) Market Driver
- Cloud computing is becoming one of the most popular methods for businesses and people to backup and store their data. The growing number of cloud platforms, from classic corporate private and new public clouds to personal clouds in homes, has driven up demand for SSDs. Solid-state storage technology improvements have resulted in SSDs with new interfaces such as PCIe, NVMe, and others. Improved features such as fast data access and high speed stimulate the use of PCIe SSDs for cloud computing. New PCIe SSDs provide great performance, high frequency, and low latency. A solid state drive with these characteristics is necessary for a variety of complicated activities in data-sensitive industries such as finance, medical sciences, and energy management, where each microsecond of latency causes a huge loss in revenues.
Solid State Drive (SSD) Market Restraint
- The cost of 1 GB of SSD is larger than that of an HDD. For example, a 1 TB internal HDD costs approximately USD 0.07 per GB, whereas an SSD of the same size costs approximately USD 0.30 per GB. Even though the price of NAND flash memory has recently dropped dramatically, SSDs still cost more than HDDs. However, with the emergence of 3D NAND storage options, this trend may not continue in the future. Because of growing SSD capacities and falling SSD prices, 3D NAND has become a major changer for the storage sector. 3D NAND would enable SSDs to outperform hard drives in terms of capacity. Furthermore, SSD has a shorter lifespan than HDD; SSD has a limited write cycle since the flash memory in SSDs can only be used for a certain number of writes. This is also one of the parameters connected with the cost of SSD-based storage infrastructure.
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Solid State Drive (SSD) Market Competitive Landscape
The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global Solid State Drive (SSD) Market
- Samsung (South Korea)
- Intel (US)
- Western Digital (US)
- Micron (US)
- Toshiba (Japan)
- Kingston (US)
- Lite-On (Taiwan)
- Seagate (Ireland)
- SK hynix (South Korea)
- Microsemi (US)
- Viking (US)
- Adata (Taiwan)
- Bitmicro Networks (US)
- Mushkin (US)
- NetApp (US)
- Lexar Media (US)
- Crossbar (US)
- G.Skill (Taiwan)
- Violin Memory (US)
- Corsair Components (US)
Solid State Drive (SSD) Market Recent Developments
- In February 2021, Seagate has introduced the FireCuda 120 SATA SSDs. It has a sequential read/write speed of 560/540 MB/s. It has capacities ranging from 500GB to 4TB. It is intended for gamers and offers speed, durability, and a large storage capacity. Novel launches by the companies are expected to contribute to the company’s growth and its share in global solid state drive (SSD) market.
Solid State Drive (SSD) Key Market Trends
- Relational analytics is concerned with data processing and code execution methods. Smart SSDs are flash storage devices that include memory and computer capacity for handling relational analytic queries. The compute functionality of SSDs will be used to increase the performance of relational analytics for globally distributed data. This minimizes the amount of processing power required by the host machine while increasing the effective computing capability of servers or appliances. Instead of typical processors, smart SSDs employ their own CPU, which is highly efficient in terms of overall price/performance ($/MHz ratio). As a result, incorporating data processing in smart SSDs can minimize the overall energy consumption of the database server/appliance. This will eventually lower the overall cost of running the database system. In relational databases, metadata can also be cached on SSDs. This will aid in the acceleration of large databases in terms of queries, sorting, and calculations. As a result, smart SSDs will eventually offer the opportunity to commoditize a new type of data processing. Simultaneously, hardware and software providers must work together to investigate this prospect.
Solid State Drive (SSD) Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global solid state drive (SSD) market is segmented based on form factor, interface, technology, end user, and region. Based on end user, the automotive segment is projected to hold the most substantial share in the market. Whereas, based on the region, the North America region is projected to hold the most substantial share in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 30.12 Billion |
| Market size value in 2031 | USD 86.12 Billion |
| Growth Rate | 14.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Solid State Drive (SSD) Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Solid State Drive (SSD) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Solid State Drive (SSD) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Solid State Drive (SSD) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Solid State Drive (SSD) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Solid State Drive (SSD) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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