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Global Solid State Drive Market to Exhibit 40.7% CAGR 2015-2022 Gaining from Demand for SSDs in Mobile Devices as Primary Storage

Posted on Jun 24, 2016

Transparency Market Research has published a new report on the global solid state drive market. The report, titled “Solid State Drive Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022,” projects the global solid state drive market to take a leap at a CAGR of 40.7% during the period between 2015 and 2022. The report anticipates this market to reach a valuation of US$229.5 bn by 2022. The overall market was worth US$15.1 bn in 2014. 

Browse the full Solid State Drive (Enterprise SSDs, Client SSDs) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022 report at: http://www.transparencymarketresearch.com/solid-state-drive-market.html

A solid state hard drive or SSD refers to a data storage device that relies on an assembly of integrated circuits to store data. Unlike hard disk drives (HDDs), there are no moving components in SSDs. To retain data without power, SSDs use NAND-flash memory chips. As SSDs are faster than HDDs, they are used across iPads, mobile devices, notebook PCs, and others.

The growing demand for SSDs in mobile and handheld devices such as notebooks as primary storage has boosted the growth of the global solid state drive market. The benefits offered by SSDs over HDDs have further supported the market’s growth. As SSD has no moving part and relies on flash memory to store data, it offers better performance compared to HDD. HDD has magnetic platters that are subjected to wear and tear with usage. The introduction of the cloud technology is expected to steer the growth of the SSD market during the forecast period.

However, the high cost of SSD compared to HDD might hamper the growth of the market. Hybrid systems with HDD are anticipated to present new opportunities for the market’s growth in the years to come. The global SSD market is witnessing consolidation within the storage industry with investments across enterprise SSD product development. The market players are focusing on the development of higher capacity SSDs. 

In terms of end user, the report segments the global solid state drive market into enterprise SSDs and client SSDs. The client SSD segment dominated the overall market in 2014 and accounted for 88.1% of the overall revenue.

The report studies the global solid state drive market across five key regions: Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. In 2014, Asia Pacific dominated the overall market and held 57.5% of the market. During the forecast horizon, the region is anticipated to register the fastest growth owing to the growing demand from countries such as China, Taiwan, and Japan.  

Describing the competitive hierarchy, the report profiles some of the key players in the global solid state drive market such as Toshiba Corporation, Micron Technology Inc., Samsung Electronics Co. Ltd., SanDisk Corporation, Intel Corporation, Transcend Information Inc., OCZ Storage Solutions, Seagate Technology PLC, Western Digital Corporation, and Lite-on Technology Corporation. Intel Corporation, Samsung Electronics Co. Ltd., and SanDisk Corporation dominated the market in 2015 and together generated 57.5% of the overall revenue. The market players are focusing on the niche profitable segments to increase their revenue.

Global solid state drive market has been segmented as:

Global Solid State Drive (SSD) Market, By End-user 

  • Enterprise SSDs
  • Client SSDs

Global Solid State Drive (SSD) Market, By Interface

  • SATA SSDs
  • SAS SSDs
  • PCI-E SSDs

Global Solid State Drive (SSD) Market, By Capacity

  • 80 GB and Below
  • 81 GB to 230 GB
  • 231 GB to 500 GB
  • 501 GB to 1 TB
  • TB and Above

Global Solid State Drive (SSD) Market, By Geography

  • North America
  • Europe
  • Asia Pacific 
  • Middle East and Africa ( MEA)
  • Latin America

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