Solid State Drives (SSD) Market Forecast to 2029 - COVID-19 Impact and Global Analysis By Type (External, Internal); Technology (Single-Level Cell (SLC), Multi-Level Cell (MLC), Triple-Layer Cell (TLC)); Storage (Under 500 GB, 500 GB-1 TB, 1 TB - 2 TB, Ab

Solid State Drives (SSD) Market Forecast to 2029 - COVID-19 Impact and Global Analysis By Type (External, Internal); Technology (Single-Level Cell (SLC), Multi-Level Cell (MLC), Triple-Layer Cell (TLC)); Storage (Under 500 GB, 500 GB-1 TB, 1 TB - 2 TB, Above 2 TB); End-User (Industrial, Automotive, Enterprise, Client, Others) and Geography

Solid State Drives (SSD) Market Forecast to 2029 - COVID-19 Impact and Global Analysis By Type (External, Internal); Technology (Single-Level Cell (SLC), Multi-Level Cell (MLC), Triple-Layer Cell (TLC)); Storage (Under 500 GB, 500 GB-1 TB, 1 TB - 2 TB, Above 2 TB); End-User (Industrial, Automotive, Enterprise, Client, Others) and Geography

The SSD market is expected to reach US$ 143,557.0 million by 2029 from US$ 53,829.6 million in 2021; it is estimated to grow at a CAGR of 15.0% from 2022 to 2029.

The SSD market is broadly segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America held the largest share of the global SSD market. However, Europe is the fastest-growing region. G.SKILL International Enterprise Co., Ltd.; Silicon Power Computer & Communications Inc.; Hangzhou Hikstorage Technology Co., Limited; Western Digital Corporation; and Kingston Technology Europe Co LLP are among the key players operating in the SSD market.

The rise in the utility of SSD worldwide and advancement in integration of next-generation technologies such as artificial intelligence in the industrial sector further drive the market. Single packaged SSDs decrease the size of IoT (Internet of Things) devices. Owing to distinct rules, norms, regulations, and policies of different countries, trade barriers in this market may act as a restraining factor to a certain extent. Among all the regions, the North American region is a quick adopter of all the latest technological advancements in the electronics & semiconductor industry.

Major countries in the North American region like the US, Canada, and Mexico find wide use of SSD across numerous domains such as networking, telecommunication, industrial, automotive, aerospace, defense, and consumer electronics. Most of the countries in Asia Pacific are still in developing states and are not as developed as the countries in the west. However, with growing disposable income, demand for vehicles and consumer electronics products is expected to rise substantially in various countries such as Bangladesh, India, Malaysia, China, and the Philippines. This drives the requirement for respective SSD needed in vehicles, personal computers, laptops, tablets, notebooks, smart wearables, etc.

The rapidly growing media & entertainment industry in Asia Pacific is significantly contributing toward the market growth. The COVID-19 pandemic impacted the production operations; however, the demand for SSD for connective medical devices remained intact. From the last quarter of 2020, the supply chain has started reviving. The SSD market is anticipated to grow notably worldwide in the coming years.

The SSD market is segmented based on type, state, material, range, and application. Based on type, the SSD market is segmented into internal and external. In terms of technology, the SSD market is segmented into single level cell, multi-Level cell, and triple level cell. Based on storage, the SSD market is segmented into under 500 GB, 500 GB-1 TB, 1 TB-2 TB, and above 2 TB. In terms of end-user, the SSD market is segmented into industrial, enterprise, and consumer.

Innovations in Critical SSD Components

For decades, hard disc drives (HDDs) have been the standard storage technology on both personal computers and servers. Solid state drives have been increasingly popular in recent years. SSDs have several advantages over traditional storage media that have propelled them to the forefront of the storage business. Moreover, the pace of innovation shows no signs of slowing down.

When SSDs originally came out, they were limited by the SATA protocol, which prohibited them from reaching their full potential. The PCIe interface followed, which was created specifically for connecting high-speed components such as graphics cards and SSDs. The usage of non-volatile memory host controller interface specification is the most recent trend in PCIe SSDs Non-volatile Memory Express (NVMe). NVMe is a high-speed storage communications standard that runs on top of PCIe. It allows SSDs to be fully utilized by hardware and new generations of compute-intensive applications. The ball grid array (BGA) SSD, which is nearly 100 times smaller than a 2.5 SSD, is one of the most important developments in the SSD form factor. The BGA devices, which are the size of a stamp, are soldered directly to the motherboard. BGA devices leverage their small size to compensate for the fact that they cannot be removed, which means they cannot be upgraded in the future. Because of their compact size, they are perfect for ultra-portable devices where space is limited. They are also seen in the category of gadgets when upgradeability is not as important as the device's physical characteristics. In addition, BGA SSDs are lightning-fast. For example, Samsung's PM971 BGA SSD, which comes in capacities ranging from 32 GB to 512 GB, can read data at 1,500 MB/s and write at 900 MB/s. NVMe will continue to increase its reach and soon become the dominant storage interface in the near future. Simultaneously, BGA NVMe SSDs are expected to break out on two levels - they will offer greater storage space while expanding their reach to include additional consumer gadgets, portables, and wearables.

G.SKILL International Enterprise Co., Ltd.; Silicon Power Computer & Communications Inc.; Hangzhou Hikstorage Technology Co., Limited; Western Digital Corporation; and Kingston Technology Europe Co LLP. are among the key players operating in the global SSD market.Reason to buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global solid state drives market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the global solid state drives market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distributionReason to buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global solid state drives market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the global solid state drives market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

The List of Companies - Solid State Drives (SSD) Market

1. Kingston Technology Europe Co LLP2. SK Hynix Inc.3. Micron Technology, Inc.4. Microsemi Corporation5. Samsung Group6. KIOXIA Corporation7. G.SKILL International Enterprise Co., Ltd.8. Silicon Power Computer & Communications Inc.9. Hangzhou Hikstorage Technology Co., Limited10. Western Digital Corporation11. Seagate Technology LLC