Solid State Drives (SSD) Market Analysis, Share, Trend, Industry Report Forecast till 2029

The Solid State Drives (SSD) Market is expected to reach US$ 143,557.0 million by 2029 from US$ 53,829.6 million in 2021; it is estimated to grow at a CAGR of 15.0% from 2022 to 2029.

The global Solid State Drives market is divided into five regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America was the leading revenue contributor in the Solid State Drives market. Europe, however, is experiencing significant growth. Key players in the market include G.SKILL International Enterprise Co., Ltd., Silicon Power Computer & Communications Inc., Hangzhou Hikstorage Technology Co., Limited, Western Digital Corporation, and Kingston Technology Europe Co LLP…

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Analysis of the Top Market Players:

1. Kingston Technology Europe Co LLP
2. SK Hynix Inc.
3. Micron Technology, Inc.
4. Microsemi Corporation
5. Samsung Group
6. KIOXIA Corporation
7. G.SKILL International Enterprise Co., Ltd.
8. Silicon Power Computer & Communications Inc.
9. Hangzhou Hikstorage Technology Co., Limited
10. Western Digital Corporation
11. Seagate Technology LLC

In this report, the market has been segmented on the basis of:

Type (External, Internal)
Technology (Single-Level Cell (SLC)
Multi-Level Cell (MLC), Triple-Layer Cell (TLC))
Storage (Under 500 GB, 500 GB-1 TB, 1 TB - 2 TB, Above 2 TB)
End-User (Industrial, Automotive, Enterprise, Client, Others) and Geography

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The increasing demand for SSDs worldwide and the integration of cutting-edge technologies like artificial intelligence in the industrial sector are driving market growth. The use of single packaged SSDs reduces the size of IoT devices. However, trade barriers resulting from varying regulations and policies across different countries may serve as a hindrance to market growth.

The North American region is particularly quick in adopting the latest technological advancements in the electronics and semiconductor industry. The widespread use of SSDs in various industries such as networking, telecommunications, automotive, aerospace, defense, and consumer electronics can be seen in the major North American countries like the US, Canada, and Mexico. On the other hand, the majority of countries in the Asia Pacific region are still developing or are not as advanced as the western countries. However, with the increasing disposable income, the demand for vehicles and consumer electronics products is expected to increase significantly in countries such as Bangladesh, India, Malaysia, China, and the Philippines. This, in turn, drives the demand for the required SSDs in vehicles, personal computers, laptops, tablets, notebooks, and smart wearables, among others.

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