Transparency Market Research delivers key insights on the global solid state drive market. In terms of revenue, the global solid-state drive market is estimated to expand at a CAGR of 9.5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global solid-state drive market.
The global solid-state drive market is broadly affected by several factors, including extensive usage of solid-state drives in consumer electronics, data storage devices, data centers, and the automobile industry.
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Solid State Drive Market: Dynamics
A solid-state drive (SSD) in a new-generation storage element for the data, unlike a Hard disk drive (HDD), it does not have moving parts, such as a read/write head that goes back and forth to gather data. The new SSDs use a simple memory chip called NAND flash memory, which has no moving parts and offers faster access time.
SSDs are utilized primarily in high-performance technology devices, where faster access to the storage and higher throughput is required. The decline in prices for the SSDs in the last decade it is also been used in mainstream laptops, PCs, and mobile devices. Still, the cost of the SSDs is higher than that of HDDs, considering the advantages and performance requirements, demand for SSDs in various applications like businesses with a huge amount of data, gaming, mobility, servers, etc. is increasing at a faster rate. The application of solid-state drives has become significant in achieving high storage I/O performance.
The growing number of enterprises deploying SSD-based storage technologies is bolstering the expansion of the solid-state drive market. The growing trend of adoption of the cloud data center has fuelled the demand for SSD products.
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Solid State Drive Market: Prominent Regions
In terms of region, the global solid-state drive market has been segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa. The Asia Pacific accounted for a major share of the global solid-state drive market. The Asia Pacific is estimated to account for a major share of the market, in terms of revenue, during the forecast period, owing to the huge consumer base and presence of major manufacturing hubs in the region.
The rise in demand for mobile devices and advancements of mobile computing technologies are key drivers of the global solid-state drive market. Thus, these factors are driving the preference for NAND flash memory-based solid-state drives (SSDs) over HDDs.
Solid State Drive Market: Key Players
Key players operating in the global solid-state drive market are ADATA Technology Co. Ltd, Bitmicro networks Inc., Kinston Technologym, KIOXIA America, Inc. (Toshiba Corporation), Micron, Microsemi, Mushkin Enhanced MFG, Netapp, Samsung, Seagate Technology LLC, SK Hynix Inc., Viking Technology, Western Digital, and Transcend Information Inc.
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Global Solid State Drive Market: Segmentation
Solid State Drive Market, by Type of Interface
- Serial Attached SCSI (SAS)
- SATA
- PCI-Express
- SLC
- MLC
- TLC
- Others
- Under 500 GB
- 500 GB - 1 TB
- 1T B - 2 TB
- Above 2 TB
- Client
- Enterprise
- Automotive and Industrial
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