Solid State Drive (SSD) Market Size By Interface (Serial ATA (SATA), Serial Attached SCSI (SAS), Peripheral Component Interconnect Express (PCIe)), By Technology (Single Level Cell (SLC), Multi-Level Cell (MLC), Triple Level Cell (TLC)), By Storage (Under 500 GB, 500 GB - 1 TB, 1T B - 2 TB, Above 2 TB), By Application (Enterprise, Client), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026
Solid-state drive (SSD) market is slated to witness considerable growth over the coming time period owing to the rapidly increasing use of SSDs in data centers coupled with the exponentially rising level of internet penetration across the globe. A solid-state drive (SSD) is a novel generation of digital storage device which is used in computers. Essentially, soli-state drives are memory chips that are fitted onto a circuit board. They have an In/Out interface, generally in the form of PCle or SATA, feeding power and transferring data.
These innovative devices essentially replace the conventional mechanical hard disks in computers and rely on flash-based memory to store data, which is in general significantly faster. Hence, SSD accelerates the performance of computers substantially owing to their quick throughputs and low read-access times.
In SSD there are no moving parts, instead the SSDs use NAND flash memory, which is comparatively stable and can last for a longer time. Solid-state drives have certain benefits in the areas such as gaming, mobility, servers, and business. Gaming computers have consistently expanded beyond the limits of the existing computing technology, justifying moderately costly equipment for the benefit of gaming performance.
In the case of mobility, these drives have low power needs, thereby contributing to enhanced battery life in tablets and laptops. They are also shock resistant, thus reducing the chances of data loss when cell phones are dropped. Enterprise servers require solid-state drives in order to get rapid reads as well as writes so as to appropriately serve their client computers.
Business organizations that are working with vast amounts of data, like data analysis or programming environments, typically rely upon SSDs, since access times as well as file-transfer speeds are highly critical in such enterprises.
All in all, solid state drives are meant for delivering faster load times for applications, movies, and games. Owing to the technology they use; they are lighter and are able to endure movement as well as damage from drops. As solid state drives utilize less amount of energy, they subsequently also allow computers to run cooler, saving costs on a sophisticated cooling system.
The solid state drive (SSD) market is segmented in terms of interface, technology, storage, application, and regional landscape.
Based on storage, the SSD market is classified into above 2TB, 1TB-2TB, 500GB-1TB, and under 500 GB. The under 500 GB segment represented a market share of over 70% in 2019 with the growing product adoption in PCs and laptops to deliver high speed and security.
From a regional frame of reference, Middle East & Africa SSD market represented a market share of nearly 7% in 2019 due to rising initiatives for 5G deployment in the region.
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