Solid-state Drive Market worth over $125bn by 2026
Published Date: June 8, 2020 Authors: Preeti Wadhwani, Shubhangi Yadav
Solid-state Drive (SSD) Market size is set to surpass USD 125 billion by 2026, according to a new research report by Global Market Insights, Inc.
The solid-state drive market growth is owing to increasing requirement for storage capacity in computers and improvements in older interface protocols for transferring data. Earlier the data transfer in Hard Disk Drives (HDD) were transferred over network protocols such as Parallel ATA (PATA), Integrated Drive Electronics (IDE), and Small Computer System Interface (SCSI). Today, hard disk drives are being replaced by solid-state drives in almost every market.
The rise in Big Data through enterprise and cloud applications with the growing demand for faster storage has resulted in the increasing development of large-storage SSD at a low cost. Increasing penetration of internet users worldwide, upsurge in e-commerce platform, and rising media volume data transfer are anticipated to drive the SSD market growth. The growing adoption of smartphones and laptops allows users to generate large amount of content and digital data. This will increase the requirement of high storage capacity devices, accelerating the market demand among consumer applications.
SAS interface is gaining market traction due to rising integration in cloud data centers
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The SAS segment held a market share of over 5% and will observe 20% growth till 2026. The SAS interface aids to deliver high data transfer speed up to 22.5 Gbit/s, support for multiple data paths, and require lesser hardware overheads, driving its demand in the solid-state drive market. In addition, companies in the industry are replacing dynamic RAM with NAND flash memory owing to benefits, such as low cost and non-volatility, adding an advantage for significant adoption of SAS interface.
The SAS interface offers efficient I/O queuing protocol, low cable size and cost, and high signaling rates, propelling its integration in large data center applications. Key players are focusing on advancing the integration of SAS interface in solid-state drives to gain high growth opportunities in cloud datacenters.
Surging demand for MLC in consumer electronics application is driving the market growth
MLC is rapidly growing segment in the market with a CAGR of over 15% through 2026. The growth is majorly attributed to high-performance and low cost of GB per SSD compared to the other technology segment. Adoption of MLC in solid state drives helps to deliver faster storage with low error rate, resulting in high growth opportunities for MLC in enterprise applications. Development in enterprise multi-level cell (eMLC) and burgeoning growth of enterprise data centers in developing nations will add a lucrative advantage to the market.
MLC technology is highly economic compared to TLC and finds applications in consumer electronics devices, such as gaming consoles, laptops, and smart devices, in the market. Companies are continuously engaged in the development of solid-state drive through technological advancement.
Browse key industry insights spread across 250 pages with 395 market data tables and 21 figures & charts from the report, “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” in detail along with the table of contents:
Increasing storage capacity requirement in enterprises is proliferating the demand for high storage SSD
The 500 GB - 1TB segment held around 30% SSD market share in 2019 due to growing requirement for quick and efficient performance of computers to enable multitasking and faster application launch time in enterprises. In office laptops and PCs, the adoption of 500 GB - 1 TB solid state drive is increasing rapidly to deliver optimum usage, faster sequential read speed, and robust performance to employees. Therefore, to cater to the high demand in the market, companies are innovating high storage capacity in solid state drives.
Rising demand from the IT sector will propel the solid-state drive market growth
In 2019, enterprise segment accounted for a market share of 5% in terms of revenue. Large number of enterprise applications require high reliability, power efficiency, constant uptime, and high throughput from storage devices. The SSD address all these requirements for an enterprise. Moreover, the IT sector is demanding technological solutions for increasing storage requirement from enterprises. Development in enterprise SSD to address the demand from the IT sector will positively impact the market growth.
The rising trend of work from home due to COVID-19 pandemic has resulted in the need for high-speed data storage and data transmission in large enterprises. Solid state drive will help enterprise data center companies to deliver high performance and powerful input output operation for mega clouds and servers. Companies are investing in new technology solutions to cater to the demands for high power efficiency and improved endurance, boosting the industry growth.
Rising penetration of data centers is laying significant impact on Asia Pacific
The Asia Pacific solid-state drive market is projected to witness substantial growth during the forecast period led by rising data center establishment. Several investments by foreign & global players to establish data centers in Indonesia and Singapore will add an opportunity for the market growth. Rising digitalization among the population is also adding to an upsurge in the demand for hyperscale data centers in the region. Furthermore, the rising demand from citizens for online services and development of e-governance projects will further accelerate the growth of data centers.
The key players in the SSD market include Western Digital Corporation, Samsung, Intel Corporation, Toshiba Corporation, Micron Technology Inc., and Seagate Technology PLC. Companies are involved in new product innovations and bringing upgraded versions of solid-state drive storages suitable for growing applications. For instance, in April 2019, Intel Corporation announced the launch of Intel Optane memory H10 with solid state drive storage with 3D NAND technology.
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