Solid State Drive Market Outlook, Growth by Top Company, Region, Application, Driver, Trends & Forecasts by 2022

The global solid state drive (SSD) market is currently witnessing a progressive increase in competition. As per a new report by Transparency Market Research (TMR), the rivalry prevailing among key players has played a role in the creation of a consolidated vendor landscape in the SSD market. Companies such as Intel Corporation, Micron Technology, and Samsung Electronics Co., Ltd have been identified as the leading players in the market. These companies together held a share of around 51% in the global SSD market in 2014.

Targeting lucrative segments, acquisitions and partnerships, and providing high-capacity solutions to clients and enterprises are among the most widely seen strategies adopted by the companies operating in the market. They are also focusing on product innovation and differentiation to strengthen both revenues and geographical reach. This will further help accelerate the demand for SSDs.

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Rising Incorporation of SSDs in Mobile Devices Emerges as Significant Market Driver

“The rising use of SSDs for manufacturing the latest models in mobile devices will emerge as a crucial driver for the global solid state drive market,” said a lead TMR analyst. The mobile phone industry is incorporating SSDs to improve the performance of mobile devices and reduce the application launch time, thus boosting the speed of the devices. The intrinsic benefits of SSDs are encouraging leading players such as Apple, Inc. to incorporate SSDs in mobile devices manufactured by them. The use of SSDs as primary storage in hand-held devices such as notebooks and ultraportable computers and gadgets has therefore increased considerably.

“Currently hard disk drive (HDD) manufacturers enjoy a greater share of the demand; however, performance benefits offered by SSDs will soon influence the HDD market’s trajectory,” added the TMR analyst. Unlike SSDs, which store information in a microchip, HDDs have mechanically designed moving parts that make them vulnerable to damage. Moreover, SSDs consume lesser power and provide high-performing features such as error correction, garbage correction, read-write caching, and encryption. The compact form factor has worked well for SSDs enabling them to be fitted into smaller spaces. The growing knowledge regarding benefits offered by SSDs over HDDs will thus bolster demand for the former in the forthcoming years.

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Besides this, TMR expects the use of SSDs to considerably increase among cloud providers aiming to scale up their operations and performance. TMR finds these factors extremely beneficial, creating positive growth opportunities for the global solid state drive market.

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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This release was published on openPR.