Qualitative Report on South America Solid State Drives (SSD) Market is Going to Boom | Seagate Technology LLC, Silicon Power Computer & Communications Inc., Western Digital Corporation

The SAM solid state drives (SSD) market is expected to grow from US$ 2,438.63 million in 2022 to US$ 4,450.27 million by 2029; it is estimated to grow at a CAGR of 9.0% from 2022 to 2029. 

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Cloud computing is rapidly becoming one of the most popular methods for businesses and individuals to back up and preserve their data. With the growing variety of cloud platforms-from classic corporate private and new public clouds to personal clouds in homes-the need for SSDs has been constantly expanding. SSDs featuring new interfaces such as PCIe, NVMe, and others have emerged as a result of technological improvements in solid state storage. PCIe SSDs for cloud computing is becoming more popular due to improved capabilities such as high speed and quick data access. New PCIe SSDs provide excellent performance with low latency and high frequency. A solid-state drive with these capabilities is necessary for a variety of sophisticated activities in data-sensitive businesses like financial services, medical sciences, and energy management, where each microsecond of latency results in a significant revenue loss. Solid-state drives, or SSDs as they are more frequently known, are storage devices that rely on memory. Traditional hard disc drives differ from SSDs in that they lack magnetic storage and, more significantly, moving parts. Hard drives are constantly in use in environments like cloud storage, where data is read at a fast pace, making them more susceptible to failure. Several big firms manage their cloud platforms and respond to the increased demand for SSDs among their clients. For example, Google employs permanent SSD storage for compute engine users in open beta, delivering high-input/output operations per second (IOPS) and allowing Google cloud platform customers to use SSDs faster on workloads. In comparison to standard magnetic media, these activities allow faster input/output (I/O) delivery and are less redundant. Facebook Inc. employs PCIe flash cards instead of hard drives for its MySQL databases to take advantage of FusionIO's logging system, which preserves data in the event of a power outage. When compared to HDD storage, this has resulted in a 50 percent reduction in latency and a 33 percent increase in throughput. SSDs aid in the reduction of infrastructure costs and the improvement of response times. So, increasing penetration of high-end cloud computing is expected to fuel the SAM market growth.

Top Key Players within the South America Solid State Drives (SSD) Market:

G.SKILL International Enterprise Co. Ltd., Hangzhou Hikstorage Technology Co. Limited, Kingston Technology Europe Co LLP, Micron Technology Inc., Microsemi Corporation, Samsung Group , Seagate Technology LLC, Silicon Power Computer & Communications Inc., Western Digital Corporation

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