Press Release

Solid State Drive Market Registers around 14.9% CAGR through 2030: Increasing Number of Data Centers Worldwide to Promote Growth

c A Solid-State Drive (SSD) is used basically for data storage. It utilizes integrated circuits as a memory for storing the data & keeping it safe. SSDs use technologically advanced NAND-flash memory chips that enable them to retain more data without power consumption. 

Besides, SSDs pose many excellent features, including huge multi-tasking capacity, better random access speed, & excellent reliability. Their high speeds & advanced hierarchical storage make them the most appropriate option for major global data centers. Moreover, they can also provide a high-speed advanced bus interface that allows high-speed information transfer in enterprise systems.

The mounting penetration of the internet, rapid digitalization, and the expanding e-commerce industry are the most prominent factors positively influencing the demand for SSDs worldwide. Furthermore, the surging adoption of cloud computing among different enterprises, coupled with advanced data volumes due to the increasing number of data centers, are other crucial factors projected to drive the global market through 2026, further states the research report, “Global Solid State Drive Market Analysis, 2024.” 

Triple-Level Cell Flash (TLC) 3D & Triple-Level Cell Flash (TLC) Planer dominated the Global Solid State Drive market

Since TLC provides the cheapest solution among all other technologies, its demand is significantly booming worldwide for everyday consumers using web/email machines, netbooks, & tablets. However, owing to the longer life span of MLC, it is used widely by small & medium-sized businesses. Similarly, Single-Level Cell (SLC) is mainly used for industrial purposes, coupled with workloads that require heavy read/write cycles, owing to the high performance & accuracy of SLCs.

With a well-established IT infrastructure, North America Acquired the Largest Share in the Solid State Drive Market

Globally, North America captures the largest share of the Global Solid State Drive Market owing to The increasing usage of advanced technologies like Big Data, IoT, Cloud Computing, etc., in North America is the prime aspect driving the regional market. Moreover, the surging adoption of advanced technologies and mounting internet usage is fueling the amount of data produced for processing, which, in turn, is augmenting the demand for SSDs across North America.

Further, the presence of well-established IT infrastructure that aids the adoption of advanced storage solutions is also driving the Solid State Drive Market in North America. Additionally, the burgeoning demand for innovative & different products is likely to provide a lucrative growth opportunity for SSD manufacturers in the coming years. Moreover, massive investments in IT infrastructure to obtain a competitive edge & improve business productivity are other crucial factors projected to propel the regional market growth over the forecast years, reveals MarkNtel Advisors in their research report, “Global Solid State Drive Market Analysis, 2024.”

According to MarkNtel Advisors, the leading players in the Global Solid State Drive Market include Samsung Electronics Co., Ltd., Intel Corporation, Western Digital Corporation, Micron Technology, Inc., Toshiba Corporation, Seagate Technology PLC, Microsemi Corporation, SK Hynix, Kingston Technology Corporation, & BiTMICRO Networks, Inc.

Key Questions Answered in the Study

1. What are the current & future trends in the Global Solid State Drive Market?
2. How has the industry been evolving in terms of geography & service adoption?
3. How has the competition been shaping across the globe, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Solid State Drive Market?
5. What are the customer orientation, purchase behavior, and expectations from the Solid State Drive manufacturers across the globe?

Market Segmentation:

1. By Type (External, Internal)
2. By Interface (Serial Advanced Technology Attachment (SATA), Serial-Attached SCSI (SAS), Peripheral Component Interconnect Express (PCI-E))
3. By Application (Database {SQL, No-SQL}, Virtualization {Desktops, Servers}, High Performance Capacity {Up SSD, Out SSD}, Cloud {Fixed, Varied})
4. By Storage Capacity (Under 120 GB, 120GB-320GB, 320GB-500GB, 500GB-1TB, 1TB-2TB, Above 2TB
5. By Technology (Triple-Level Cell Flash (TLC) 3D, Triple-Level Cell Flash (TLC) Planar, Multi-Level Cell (MLC) 3D, Multi-Level Cell (MLC) Planar, Single-Level Cell (SLC))
6. By Form Factor (1.8"/ 2.5," 3.5," M.2, U.2 (SFF 8639), FHHL and HHHL)
7. By End User (Enterprise {Server Attached, Storage Attached}, Client {Desktop PC, Notebook, Tablet, Others}, Industrial, Automotive)
8. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa)
9. By Country (U.S, Canada, Brazil, Mexico, Germany, France, The U.K, China, India, Taiwan, South Korea, Saudi Arabia, South Africa)
10. By Competitors (Samsung Electronics Co., Ltd., Intel Corporation, Western Digital Corporation, Micron Technology, Inc., Toshiba Corporation, Seagate Technology PLC, Microsemi Corporation, SK Hynix, Kingston Technology Corporation, BiTMICRO Networks, Inc)