Solid state drive market has gained significant recognition over the years due to their use in data centers along with the growing penetration of internet across various sectors of the economy. A solid-state drive is an advanced digital storage device that is used in computers. These devices replace the traditional mechanical hard disks in computers and depend on flash-base memory to store data, which is faster. Moreover, these devices enhance the performance of computers due to their low read-access times.

None of the parts in SSDs are moveable, instead, they use NAND flash memory, which is comparatively stable and last for a longer period of time. These devices are favorable in areas like mobility, gaming, business, and servers. Gaming computers have constantly expanded beyond what conventional computing technology offers, justifying the use of expensive equipment for the benefit of gaming performance.

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Along with the aforementioned benefits, these devices also have low power needs, leading to increased battery life in laptops and tablets. They are also shock-resistant, which reduces the chances of data loss in case the cell phones dropped. Reports estimate that the global solid state drive market size could showcase considerable expansion through 2026.  

Mentioned below are some of the factors projected to influence the industry size in the near future.

Increasing establishment of enterprises

With respect to the application spectrum, the enterprise segment has dominated the solid state drive market over the years. A large number of enterprise applications need power efficiency, high reliability, constant uptime, and high throughput from storage devices. Advancements are imminent in enterprise SSD to meet the growing demand from the IT industry. Enterprise servers require SSD to receive rapid reads and writes in order to serve their client computers at required efficiency.

COVID-19 and the rise in demand for high-speed internet

The coronavirus pandemic has led to an increase in the number of people working from home due to the need to control the number of infections in offices, across the world.  This has led to the need for reliable and safe data storage and data transmission solutions in large enterprises. Solid-state drives help data centers to provide superior performance along with a powerful input-output operation for servers and mega clouds. Companies are heavily investing in advanced technologies to meet high-power efficiency needs.

High demand for storage solid-state drives below 500 GB

In terms of storage, the solid state drive market is classified into above 2TB, 1TB-2TB, 500GB- 1TB and below 500 GB. In 2019, the below 500 GB segment held 70% of the total market share. This segment has witnessed considerable adoption in laptops and PCs as they deliver high levels of security and speed.

Growing construction of data centers across Asia Pacific

Regionally speaking, Asia Pacific solid state drive market has witnessed considerable growth over the years due to the increase in the establishment of data centers. The region, primarily led by countries like India, China, Japan, South Korea, and Singapore has received heavy investments from foreign companies towards the establishment of data center facilities.

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Growing digitalization along with a large amount of data collected from various sectors in these countries is magnifying the demand for a SSDs. Additionally, the rise in demand from the people in the APAC region regarding online services as well as the development of e-governance projects will support the development of data centers.

All in all, the rise in big data and cloud applications along with the increasing demand for faster storage has led to the increasing development of large storage SSD at a comparatively lower cost. An evident increase in the number of internet users globally, a rise in e-commerce platforms and constantly increasing volume of data transfer will continue to boost the global solid state drive market trends.

Some of the notable market players providing SSD products and technology worldwide include Micron, ADATA Technology Co. Ltd., SK Hynix Inc., Seagate Technology LLC, KIOXIA America, Inc., and Netapp, among numerous others.

Table of Contents (ToC) of the report:

Chapter 1.    Methodology and Scope

1.1.    Scope

1.2.    Definitions

1.3.    Methodology

1.4.    Data Sources

1.4.1. Primary

1.4.2. Secondary

Chapter 2.    Executive Summary

2.1.    SSD market 360⁰ synopsis, 2016 - 2026

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Interface trends

2.1.4. Technology trends

2.1.5. Storage trends

2.1.6. Application trends

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