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IMARC Group, a leading market research company, has recently releases report titled “Solid State Drive (SSD) Market Report by Type (External, Internal), Interface (SATA, SAS, PCIe), Form Factor (1.8”/2.5”, 3.5”, M.2, U.2 (SFF 8639), FHHL and HHHL), Storage (Under 500 GB, 500 GB–1 TB, 1 TB–2 TB, Above 2 TB), Application (Enterprise, Client, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the solid state drive market share.
How big is the solid state drive market?
The global solid state drive (SSD) market size reached US$ 52.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 156.3 Billion by 2032, exhibiting a growth rate (CAGR) of 12.6% during 2024-2032.
Industry Overview of solid state drive
Solid state drive (SSD), also known as a solid-state disk, refers to a storage device that relies on integrated circuit assemblies as memory to store data in computers, laptops, digital cameras, smartphones, tablets, and digital music players. It comprises a spinning disk and a read or writes head on a mechanical arm called an actuator. It is widely available as a peripheral component interconnect express (PCIe) and nonvolatile memory express (NVMe), and mSATA III, serial advanced technology attachment (SATA) III, and traditional SSDs. It is lightweight and compact and consumes less power, produces less audible noise, and provides faster boot times with better performance. It is more shock-resistant and can handle heat compared to HDDs as it does not have any moving parts. It is used as an alternative to traditional hard disk drives (HDDs) in computers and performs the same functions as a hard drive. It downloads files quickly that can be saved faster and offer low latency that can efficiently handle heavy read and random workloads. It allows fast data storage and retrieval and offers computer manufacturers more design flexibility. Besides this, as it is safe from the magnetic effect and produces no vibration due to the flash technology, SSD is widely employed in small and medium-sized enterprises (SMEs) and large enterprises across the globe.
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What are the growth prospects and trends in the solid state drive industry?
At present, the rising adoption of SSDs in data centers due to increased productivity and efficient read and write processes represents one of the key factors supporting the growth of the market. Besides this, the growing demand for SSDs over HDDs on account of enhanced efficiency and faster workflow is offering a positive market outlook. Additionally, there is a rise in the need for higher input or output (I/O) in various business organizations around the world.
This, coupled with the increasing utilization of SSDs among enterprises for eliminating mechanical failures and improving operational performance, is propelling the growth of the market. Apart from this, the rising number of high-end cloud computing platforms across the globe is offering lucrative growth opportunities to industry investors. Moreover, the increasing adoption of SSDs in mobile devices due to their lightweight, reduced latency, and low failure rates is positively influencing the market.
In addition, the rapid digitalization and the rising adoption of various consumer electronic products among the masses around the world are contributing to the growth of the market. Furthermore, key players are introducing ultra-low-power SSDs with high-capacity storage for gamers and content creators, which is strengthening the market growth.
Leading Companies Operating in the Global Solid State Drive Industry:
- ADATA Technology Co. Ltd.
- Corsair Gaming Inc.
- Kingston Technology Corporation
- KIOXIA Holdings Corporation
- Micron Technology Inc.
- Samsung Electronics Co. Ltd.
- Seagate Technology LLC
- SK hynix Inc.
- Toshiba Corporation
- Transcend Information Inc.
- Western Digital Corporation
Solid State Drive Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- External
- Internal
Breakup by Interface:
- SATA
- SAS
- PCIe
Breakup by Form Factor:
- 8”/2.5”
- 5”
- 2
- 2 (SFF 8639)
- FHHL and HHHL
Breakup by Storage:
- Under 500 GB
- 500 GB–1 TB
- 1 TB–2 TB
- Above 2 TB
Breakup by Application:
- Enterprise
- Client
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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