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Solid state drives (SSDs) are gradually emerging as preferred digital storage devices over hard disk drives (HDDs). SSDs come with numerous advantages due to which they are gaining significant traction in the market. Due to the increasing implementation across various handheld devices, Transparency Market Research (TMR) projects the global solid state drive market to rise at a CAGR of 40.7% between 2015 and 2022. 

Despite lucrative growth prospects, the high price of SSD is expected to limit their sales to an extent. Nevertheless, technological breakthroughs are expected to reduce the cost of SSDs in the near future. This will further help augment growth witnessed by the global solid state drive market. According to TMR, the global solid state drive market stood at US$15.4 bn in 2014. The market is expected to reach US$229.4 bn by the end of 2022.

Presence of Several Leading Players Makes Asia Pacific a Key SSD Market

Currently, Asia Pacific leads the global solid state drive market. China, Taiwan, and Japan have been identified as the most lucrative markets for solid state drives in Asia Pacific. The region features the presence of several leading SSD vendors such as Micron Technology, SanDisk Corporation, Samsung Electronics Co., Ltd., Toshiba Corporation and others, which explains the strong potential of the region. Furthermore, demand for laptops and advanced mobile devices is surging rapidly in countries such as Japan, China, and South Korea.

Besides demonstrating a large consumer base, Asia Pacific is also emerging as a lucrative manufacturing base for electronics. For instance, India and China in particular have become manufacturing centers for companies such as Dell, Acer, and HP. Spurred by these factors, TMR expects the Asia Pacific SSD market to expand at a robust 42.5% CAGR in terms of revenue from 2015 to 2022.

The Middle East and Africa market is also likely to exhibit attractive opportunities for SSD vendors. The rising penetration of smartphones in the region is expected to boost demand for devices based on the flash memory technology. Since SSDs provide ideal storage solution for these devices, their demand for the Middle East and Africa is expected to rise considerably. Besides this, the SSD manufacturers will witness strong demand in Europe and North America.

Demand for Enterprise SSDs to Rise at Higher Pace as Enterprises Look towards Performance Improvement

By end user, the global solid state drive market is bifurcated into client SSD and enterprise SSD. Of these, the client SSD segment dominated the global SSD market in 2014. The term client SSD is used to differentiate between SSDs produced for enterprise use and those produced for consumers. This segment includes SSDs used in notebooks, consumer tablets, and desktops PC. The compact form factor of client SSDs renders them perfectly suitably for notebooks, which demand a thinner and lightweight body, high performance, and longer battery life.

However, in the near future, TMR expects demand from the enterprise SSD segment to grow at a higher pace. Enterprise SSDs are designed to perform under continuous workloads in mission critical storage area networks. An increasing number of enterprises requiring high data throughput across severs are witnessing performance bottlenecks. The majority of them were dependent on HDDs. To mitigate these growing concerns, many of them are considering SSDs as a more viable storage option to improve performance, efficiency, and data center reliability. According to TMR, the enterprise SSD segment will exhibit a CAGR of 76.3% between 2015 and 2022.

Some of the leading companies operating in the market are Lite-on Technology Corporation, Kingston Technology Corporation, OCZ Storage Solutions, Intel Corporation, and Western Digital Corporation, Inc.

Solid State Drive Market to Gain Significant Momentum Owing to Increasing Demand from Mobile Industry

The rising adoption of data interpretation by a number of enterprises is a prime factor promoting the growth of the global solid state drive market. Solid state drives are used mostly in mobile phones for reducing the launch time for applications used in the phone and therefore have a high demand from this industry. The overall performance of mobile phones is also dependent on solid state drives and this also serves as a prime factor boosting the global solid state drive market in the coming years. The implementation of solid state drives by top mobile phone companies such as Apple Inc., and others is considered a strong driver.

Additionally, hand-held gadgets like ultraportable PCs and scratch pad where SSDs assumes a vital part in essential stockpiling has expanded enormous development opportunity for the solid state drive market. High performing highlights like trash remedy, mistake rectification, and encryption and less force utilization are a portion of the other observable elements driving the solid state drive market.

Some factors may pose to challenge the growth of the market. Significant expense of solid state drive is one of the key factor hampering the development of this market. Significant expense of crude materials, costly assembling measure, and moderately low market is affecting contrarily available development. Notwithstanding that, irregularity in low rate inactivity has likewise included expanding the limitations looked in this market. Nonetheless, significant expense is normal just for brief span similarly as with time solid state gadgets will at last beat HDD costs in the approaching years. This may restrict the chance of reception of worthwhile freedom in the ease portable area. Then again, mechanical progressions are probably going to profit the market's development and increment the capacity of solid state drive overwhelming the administrations offered by HDD.

Solid State Drives (SSDs) are data storage devices that contain no moving parts/components and instead use an assembly of integrated circuits (ICs) to store data. Most SSDs use NAND-flash memory chips, which retain data without power. SSDs are used as alternatives to hard disk drives (HDDs). SSDs are used in numerous products, including mobile devices, iPads, laptops, desktop PCs, and notebook PCs, and are faster than HDDs, providing zero latency and reduced application load and boot times.

This research report provides a detailed analysis of trends in the solid state drive market. It also comprises an extensive analysis of the industry dynamics: drivers, restraints, and opportunities. The market study provides a comprehensive assessment of vendor strategies for excellence in the business. The report segregates the market based on end user, interface, and capacity across North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Countries analyzed in this report include Japan, China, South Asia, Australasia, the U.S., EU7 (the U.K., Spain, France, Germany, Italy, Belgium, and Netherlands), CIS, Brazil, and GCC members. The market research study analyzes the solid state drive market on global, regional, and country levels.

The research report estimates the solid state drive market in terms of revenue (US$ Mn) and volume (Mn units) for the years 2012, 2013, and 2014, along with the market forecast for the period from 2015 to 2022. The market estimates have been evaluated keeping in mind different political, environmental, social, technological, economic, and legal (PESTEL) factors. The market share of the leading players for the global SSD market is estimated for the year 2014. 

Competitive profiles of key players in the market elucidates on the following details—company overview, target market/customer, segmentation, business strategies, recent developments, and financial overview in the solid state drive market. Market participants profiled in this report are Samsung Electronics Co. Ltd., Toshiba Corporation, Micron Technology Inc., Intel Corporation, SanDisk Corporation, OCZ Storage Solutions, Western Digital Corporation, Seagate Technology PLC, Transcend Information Inc., and Lite-on Technology Corporation. The research also provides the competitive positioning matrix for the key players, which are appropriately assigned to the following quadrants-market leaders, emerging players, promising players, and niche players.

The segments considered within the scope of the report are the following. (1) Based on end user: enterprise SSD and client SSD; (2) based on interface: SATA, SAS, and PCI-E; (3) based on capacity: 80 GB and below, 81 GB to 320 GB, 321 GB to 500 GB, 501 GB to 1 TB, and 1 TB and above. Of these different segments, currently, SATA SSD with capacity 80 GB and below is the most attractive configuration. Enterprise PCI-E SSD is expected to be the fastest-growing SSD configuration. Globally, the solid state drive market growth is mainly driven by the high performance needs of various devices and benefits offered by SSDs over HDDs. The comparatively higher prices of SSDs as against HDDs is a challenge to the growth of the market, the impact of which is expected to abate in the coming years with falling prices.

Market Segmentation of Global Solid State Drive Market:

Global Solid State Drive Market, by End-user 

  • Enterprise SSDs
  • Client SSDs

Global Solid State Drive Market, By Interface

  • SAS SSDs
  • PCI-E SSDs

Global Solid State Drive Market, By Capacity

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

Global Solid State Drive Market, By Geography

  • North America
  • Europe
  • Asia Pacific 
  • Middle East and Africa
  • Latin America

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Solid State Drive Market

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