A detailed study on Solid -State Drive (SSD) Market has been conducted to understand its landscape in 2023.
Survey period: March 5-11, 2023
Survey company: SDKI Inc.
Survey Base: We surveyed 531 market players of all sizes.
Number of valid answers: 531
Survey method: 320 field surveys, 211 Internet surveys
Survey Respondents: The survey was conducted among companies based on revenue. Question: What is a Solid State Drive (SSD)? What is the size of the Solid State Drive (SSD) market and what is the growth forecast to 2035?
An SSD is a semiconductor-based storage device that uses NAND flash memory, which consists of an array of blocks called a grid, which allows it to operate faster than a traditional hard disk drive (HDD). SSD has better physical shock resistance, faster random access speed, enhanced data reading and writing, and compact size, making it the preferred choice compared to HDD. The global market for solid state drives is expected to garner USD 46.2 billion in 2022, growing at a CAGR of 23% during the forecast period. Furthermore, the global solid state drive market is expected to reach US$142 billion by 2035. Question: What are the factors driving the growth of the solid state drive (SSD) market?
Following are some of the key factors driving the growth of the solid state drive (SSD) market:
Compared to HDDs, solid-state drives offer advantages such as improved reliability and reduced power consumption.In addition, with the progress of global digitalization, the adoption of solid-state drives is increasing, which is driving the growth of this market. an important driving factor. For example, 399 million new Internet connections were made worldwide. As the number of Internet users around the world increases, the demand for efficient storage infrastructure to store and process data is increasing. As more people around the world access the Internet, the demand for efficient data storage and processing infrastructure increases.
Increase in cloud computing platforms
Increase investment in R&D activities
Growing Demand for Enhanced Storage Devices in the MSME (Small and Medium Enterprise) Sector
Adoption of SSD in data centers
[Image 1: https://prtimes.jp/i/72515/2498/resize/d72515-2498-662d365b971b26310f82-0.jpg&s3=72515-2498-2c0c3aa7afa140986dc8e149e726fe01-1280×720.jpg] Question: What are the major classifications of the Solid State Drive (SSD) market?
The solid state drive (SSD) market can be segmented by technology, type, interface and end use. These categories are further divided into:-
TLC (Triple-Level Cell)
MLC (Multi-Level Cell)
SLC (Single-Level Cell)
Based on technology, SLC dominates the market with a 43% share in 2022. This is because SLC stores data in a single cell, which makes data retrieval easier and has a longer lifetime compared to MLC and TLC. SLC is commonly used in industrial fields that require high speed, such as servers and data centers.
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By end user
Based on type, the internal type segment holds a significant position in the market, accounting for 73% share of the global SSD market. Built-in solid-state drivers are known for instant load performance, faster boot times, and overall system responsiveness. For example, according to CMR’s India Hard Drive Market Review for Q1 CY2022, shipments in the Indian consumer embedded SSD market declined by 3% quarter-on-quarter. However, the market as a whole recorded a significant growth of 119% year-on-year.
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Question: What are the market constraints for the solid state drive (SSD) market?
A major obstacle to the growth of the SSD market is high write latency. This delay can exceed several seconds if interrupted by internal tasks in the drive, resulting in interrupted IO performance for the following reasons: Lack of internal tasks In addition to the fewer write/erase cycles that SSDs offer. HHDs can endure an average of 1-5 million write cycles compared to solid state drives which average 100,000 cycles. This write cycle limit will create additional problems. For example, traditional hard disk drives allow data to be deleted and rewritten continuously. This write cycle limit causes more trouble. On the other hand, data can be erased and rewritten an unlimited number of times with conventional hard disk drives. Following are some of the factors constraining the growth of the solid state drive (SSD) market-
Compared to traditional HDDs, data storage costs are higher. Write latency is high.
Question: Who are leading the Solid State Drive (SSD) market? What are some of the recent developments in the Solid State Drive (SSD) market? Following are the companies that lead the Solid State Drive (SSD) market- Intel Corporation
Kingston Technologies Co. Inc.
Samsung Electronics Ltd.
Micron Technologies Inc.
SK Hynix Inc.
Western Digital Corporation
Below are some of the recent developments in the Solid State Drive (SSD) market:-
In 2023, Western Digital Corporation, in collaboration with Kioxia Corp., unveiled the latest 3D flash memory technology that delivers superior capacity, performance and reliability.
In January 2023, Micron Technologies Inc. made the New Micron 9400 SSDs for servers requiring the highest levels of storage performance available for purchase from channel partners and global OEM customers.
Q: Which region is expected to offer the most lucrative opportunity in the global market for solid state drives?
The North America region is expected to dominate the market with a market size of 18.3 billion by 2022. This is due to the increasing adoption of advanced technologies such as IoT, cloud storage and the establishment of new data centers. The solid state drive market in the region is expected to reach a market of US$57 billion by the end of 2035, registering a CAGR of 24% during the forecast period.
Question: Which other region is expected to hold a significant market share or show significant growth in the solid state drive (SSD) market by 2035?
Asia Pacific is expected to offer lucrative opportunities in the solid state drive market. The APAC market is expected to garner USD 17.5 billion in 2022, registering a CAGR of 21% during the forecast period. This is primarily due to a growing consumer electronics sector, growing adoption of cloud computing, a growing internet user base, and government initiatives in the region.
The solid state drive sales market in Japan is a very lucrative market. With the proliferation of portable smart devices, the demand for advanced storage devices is increasing and the revenue prospects for the Japanese solid state drive market are improving.
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