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..
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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.
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Market Challenges
- The Solid State Drive (SSD) market faces significant
challenges, primarily in the area of latency and endurance. SSDs
cannot completely mask write latency with write-back caching, but
read latency cannot be concealed. SSD read latencies typically
range from a few hundred microseconds, but can exceed tens of
milliseconds or even seconds when access is interrupted by internal
device tasks. Additionally, SSDs have a limited number of write
cycles compared to hard disks, with SLC flash drives offering
higher endurance at a premium price, and MLC flash being a more
affordable option, but its lifespan depends on user data and
internal drive activity. These factors, particularly endurance, may
hinder the growth of the global SSD market.
- The Solid State Drive (SSD) market is experiencing significant
growth, driven by the demand for faster and more reliable storage
solutions. One trend shaping the market is the development of
"Smart SSDs" with advanced features like hardware-based encryption
and IEEE 1667 interface for high-end cloud computing. However,
challenges remain, such as the need for compatibility with ATA and
SATA interfaces, and the design complexity of next-generation
interfaces like PCIe. Solid-state drive providers are also
addressing the needs of various industries, including automotive
for infotainment systems and next-generation connected cars, and
data centers for cloud computing and relational analytics. TLC SSDs
are gaining popularity for their cost-effectiveness in consumer
applications like notebooks and tablets. Enterprises are focusing
on file back-up, archiving information, and ensuring security for
sensitive data on cloud platforms. In April
2021, Samsung Electronics launched the PM9A1 SSD, offering
NVMe interface, NAND flash memory, and hardware-based encryption
for enhanced performance, reliability, and security. Overall, the
SSD market requires a balance of flexibility, temperature
management, and endurance to meet the diverse needs of businesses
and consumers.
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Segment Overview
This solid state drive (ssd) market report extensively covers
market segmentation by
- Type
- End-user
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
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.
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geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
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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
- Type
-
- End-user
-
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
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: media@technavio.com
Website: www.technavio.com/
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