Global Solid State Drive Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Global Solid State Drive Market Overview:

“The global Solid State Drive Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global solid state drive market report has been segmented on the basis of type, storage, technology, end user, and region.

Solid state drive is a nonvolatile storage device that stores data on solid state flash memory. In SSD digital data is stored directly in silicon NAND flash memory devices. It has no mechanical moving parts as HHD, which improves durability in resisting physical shock or mechanical failure and increases performance. SSDs are smaller and lighter than previous drives and it can write or read data at faster speed as compared to HDDs.

Increasing e-commerce activities across the globe, growing digitalization, and technological advancements in devices that have high transfer and storage capacity as compared to conventional HHD drives are major factors driving growth of the global solid state drive (SSD) market. In addition, solid state drives are reliable and durable and have wide applicability in network storage and embedded systems also increasing its demand in various sectors such as telecommunication, healthcare, automotive, etc. which are other factors expected to boost growth of the global solid state drive (SSD) market.

However, high cost of solid state drive is a major factor restraining growth of the global solid state drive market.

Technological advancements such as development of cost effective SSD and increasing R&D activities by major players is expected to present new opportunities in terms of revenue to players operating in the global solid state drive market over the forecast period.

North America market is expected to dominate in the global solid state drive market with higher revenue share as compared to other regional markets, and is expected to continue its dominance during the forecast period. This can be attributed to increasing adoption of solid state drives in data centers, growing digitalization, and presence of prominent players operating in this region. Europe market accounts for second-largest revenue share in the global solid state drive market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to register fastest growth in terms of revenue, owing increasing e-commerce activities and increasing demand from telecommunication sector in emerging economies in this region.

Global Solid State Drive Market Segmentation:

By Type:

• External
• Internal

By Storage:

• Under 120 GB
• 120GB-320GB
• 320GB-500GB
• 500GB-1TB
• 1TB-2TB
• Above 2TB

By Technology:

• SLC
• MLC Planar
• MLC 3D
• TLC Planar
• TLC 3D

By End User:

• Enterprise
• Client
  • Desktop PC
  • Notebook
  • Tablet
  • Others
• Industrial
• Automotive

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa