Market Research Future (MRFR) anticipates that the Solid-State Drive market 2020 can reach USD 50.72 billion by 2023. MRFR also reveals that the market has the potential to achieve a growth rate of 15.13% from 2018 to 2023, considered to be the evaluation period. We will provide COVID-19 impact analysis with the report. The report discusses the COVID-19 impact on the market and the growth potential of the industry following the coronavirus disease outbreak.
Primary Boosters and Main Barriers
The high impetus gained by e-commerce worldwide, surge in digitalization, along with frequent technological innovations in the semiconductor industry can encourage massive growth of the solid state drive (SSD) market. Solid state drive vs. hard drive has been a notable point of discussion in the semiconductor industry, where the former boasts of higher storage and transfer capacity compared to the traditional HHD drives, leading to higher demand for SSD devices in the Solid-State Drive Market.
SSD (Solid-State Drives) are dependable and highly durable and are therefore, widely deployed in network storage & embedded systems for applications in healthcare, automotive, telecommunication, and more. The surge in the target product’s application scope across diverse industries can be a significant opportunity for the worldwide Solid-State Drive Market.
Technological innovations such as introduction of affordable Solid-State Drive and the surge in R&D activities and new product launches by top companies can also offer lucrative opportunities to the solid state drive market in the next few years. For instance, in June 2020, Silicon Power launched a SSD called US70 that makes use of PCIe 4.0. US70 featuring 3D NAND flash memory as well as NVMe 1.3 support is ideal for high-end businesses, competitive overclockers, combative gamers, professional editors/designers and more.
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Leading contenders that are actively pursuing new ways to seize a large share in the market include IBM (US), Samsung (South Korea), SanDisk (US), Google (US), Kingston Technology (US), Lite-On (Taiwan), Western Digital (US), Micron Technology, Inc. (US), NetApp (US), OCZ (US), Toshiba (Japan), Fusion-io (US), Intel (US), and more.
Some of the well-known innovators in the industry include Crossbar (US), Diablo Technologies (Canada), BiTMICRO Networks (US), Violin Memory (US), Viking (US), Adata (Taiwan), Foremay (US), to list a few.
Type, storage interface, application and end-users are the key segments considered in the MRFR study.
The types of SSD are MLL (Multi-Level Cell), TLL (Triple Level Cell) and SLL (Single Level Cell).
Depending on the storage interface, the categories include SAS, PCIe and SATA.
The storage capacity-wise sections include less than 250 GB, 251GB to 500GB, 501GB to 1 TB and more than 1 TB.
The applications areas covered in the research are data centers, laptops, PCs, and more. The solid state drive laptop segment can gain decent traction in the years to come, since SSDs helps make laptops start up quicker, and the programs become highly responsive. Since SSDs do not consist of any moving components, they are able to bear shocks that generally impair the hard drives when the laptop drops or bumps around.
The primary end-users in the global market include industrial, automotive and client and enterprise users.
The report geographically categorizes the solid-state drives industry as Europe, North America, Asia Pacific or APAC, and RoW or rest of the world.
North America shows high potential to clinch the leading position in the years ahead, as the demand for superior quality computing systems has escalated massively in recent years. Also, the increasing uptake of cloud computing, and the rising penetration of big data analytics can also stimulate major market expansion in the region. The surging number of data centers in the region also aids in market growth.
The APAC market for solid state drive can anticipate the fastest growth during the evaluation period, as a result of the emerging trend of product innovation across India, Taiwan, Japan and China. More and more vendors are adopting organic and inorganic strategies to enhance their market position in the region. Companies like Toshiba (Japan) and Lite-On (Taiwan) are collaborating to build advanced solid-state drives and flash storage. The mounting number of e-commerce activities and the rising application scope of SSD in the telecommunication industry are also positively shaping the industry outlook in the region.
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Strategic Points Covered in Table of Content of Solid-State Drive Market :
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