Solid State Drive (SSD) Market Predicted to Accelerate the Growth by 2023

The modern PC storage is rapidly transforming from traditional HDD technology to Solid State Drives (SSDs). The evolution in ‘Bit growth’ has facilitated the 3-bit MLC NAND technology in the PC storage industry. The solid state drives are gaining considerable attention due to their performance benefits, such as higher random access speeds, multi-tasking ability, and higher reliability and durability, compared to its traditional counterparts.

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Based on the application, the global solid state drives market can be segmented as Database (further segmented as, SQL, and No-SQL), Virtualization (further segmented as desktops, and servers), high-performance computing (further segmented as, Up SSD, and Out SSD), Cloud (further segmented as fixed, and varied), and others.

Asia-Pacific accounted for the largest market of solid state drives (SSDs) in 2014. The growth of consumer electronics market, along with rapid development in the information and technology (IT) service sectors in the developing countries, including China, India, South Korea, and Taiwan is fueling the growth of the solid state drive (SSD) market in Asia-Pacific. The Client solid state device (SSD) segment has witnessed comparatively higher growth in Asia-Pacific, owing to their escalating demand from consumer mobile devices, such as notebooks, smartphone and tablets.

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Moreover, Asia-Pacific is expected to be the fastest growing solid state drives (SSDs) market during the forecast period, owing to large consumer base and growing service sector in the developing countries.

North America is expected to be the second fastest growing region for solid state devices market during the forecast period, owing to the higher replacement rate of traditional HDDs to SSDs. County wise, the U.S., Japan, China, Canada, India, South Korea, Japan, Germany, the U.K., France, and Brazil are expected to be major markets of solid state drives, during the forecast period.

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Some of the competitors in the solid state drives (SSDs) market are Samsung Electronics Co. Ltd., Toshiba Corporation, Intel Corporation, Micron Technology Inc., SanDisk Corporation Inc., OCZ Storage Solutions, Lite-On Technology Corporation, Western Digital Corporation Inc., and Seagate Technology PLC.

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