Solid State Drive Market is expected to grow at a CAGR of 15.1% during the forecast period (2018 - 2023), to reach USD 60.7 billion by 2023| Major Vendors - INTEL CORPORATION, KINGSTON TECHNOLOGY EUROPE CO LLP, SAMSUNG ELECTRONICS CO., LTD., SK HYNIX INC.

Market Analysis:

Asia-Pacific to Witness the Fastest Growth
The market in the region is driven by growing adoption of cloud computing in the enterprises and the growth in the data generated and data centre in the region. The region is poised to witness the fastest growth rate owing to developments in India and China.

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Enterprise applications demand high-performance storage, high throughput, power efficiency, and high dependability, and SSDs (solid state devices) meet all these requirements. Small scale SSD’s are being adopted in laptops, personal computers, and to some extent in tablets, mobile phones. SSDs are also a viable option for data centers as they offer high speed, hierarchical storage and mass volume owing to their non-volatile memory technology as they also provide high-speed bus interface enabling high data-transfer speed in enterprise systems. A growing adoption of high-end cloud computing and penetration of SSDs in data centers is expected to drive the solid state drive market. Also, increasing digitization globally is expected to contribute value to different end-user industries such as BFSI, IT services which is raising need for mega data centers worldwide. However, the cost of these drives compared to HDDs can act as a challenge for the market.

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Market Segments:
Solid State Drive Market is segmented by:
1. Interface: SATA, PCI, Others
2. End-User: Enterprise (Commercial Data Centers), Client (Notebook and PCs, Tablet and Smartphones, Others)
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments
• April 2018 - Kingston Technology Company, Inc. announced the shipping the UV500 family line of SSD products. It is available in multiple form factors and will be Kingston’s first 3D NAND-enabled SSD featuring full-disk encryption.
• February 2018 - Samsung Electronics announced the start of the mass production of industry’s largest capacity SSD, the PM1643 which has 30 TB capacities. It can be used in next-generation enterprise storage systems.

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