DUBLIN--(BUSINESS WIRE)--The "Solid State Drive Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Solid State Drive (SSD) Market is projected to grow at a CAGR of 14.98% over the forecast period to reach US$47.821 billion in 2025 from US$20.701 billion in 2019.
Demand for the SSD market is high by data centers owing to the need for faster, cheaper and denser storage. A solid-state drive is required for various complex operations in data-sensitive industries such as financial services, life sciences, and energy management.
Key factors for the market growth are declining prices, performance improvement due to the formation of NVMe, and surge in cloud customers. Solid State Drives also offer various advantages, such as reduced latency and boot time, less power and space consumption, more resistance to physical shocks among others. Increasing the development of high capacity SSDs is a lucrative growth potential of this market throughout the forecast period.
By Interface Type
The solid state drive (SSD) market is segmented by interface type as SATA, SAS, and fibre channel, and ATA/IDE. SATA interface based solid-state drive offers lower cable size and cost, faster data transfer through higher signaling rates, and more efficient transfer through an I/O queuing protocol. SATA will account for the largest market share of the global SSD market during the forecast period. The old desktop PCs support only the SATA interface for upgrading from HDDs to SSDs, thereby driving the growth of this market segment. Moreover, the lower price of SATA than other interfaces will also bolster the growth of this segment over the forecast period. SAS drives come in a variety of endurance options, depending on the manufacturer, to match a particular workload and write requirements.
By End-User Industry
By end-user industry, the solid state drive (SSD) market is segmented into automotive, aerospace and defense, medical, consumer electronics, and others. Automotive segment holds significant market share on account of growing integration of technologies into vehicles. Consumer electronics also hold significant market share owing to the miniaturization of electronics and electrical parts along with the increasing focus of industry players towards more reliable and efficient data storage solutions.
Geographically, the Solid State Drive (SSD) market is classified into North America, South America, Europe, Middle East, and Africa, and the Asia Pacific. The report also analyses major countries across these regions with complete analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers. North America has a significant amount of market share in of Solid-state drive due to advanced storage solutions and an increase in spending by enterprises on Information Technology infrastructure to gain a competitive edge and increase their business productivity. APAC will witness the fastest regional market growth owing to booming IT infrastructure in emerging economies such as China and India. Growing consumer electronics industry along with the presence of global players such as Toshiba Corporation, Micron Technology, and Samsung Electronics in the region will also contribute to the market growth.
Key market players in the solid-state drive market include Intel Corporation, SAMSUNG, Kingston Technology Europe Co LLP, LITE-ON Technology Corporation, and Western Digital Corporation among others. These market players compete on price, innovation, quality, and support services. Major players are engaged in M&A or acquiring smaller regional market players to expand their market footprint. For example, in January 2019, Intel introduced its Optane SSD DC P4801X Series that offers advanced technologies and features, such as enhanced power-loss data protection, high-endurance technology, and end-to-end data protection.
Key Topics Covered
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Solid State Drive Market Analysis, by Interface Type
5.4. Fibre Channel
6. Solid State Drive Market Analysis, by End-User Industry
6.2. Aerospace and Defense
6.4. Consumer Electronics
7. Solid State Drive Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East & Africa
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Intel Corporation
9.3. Kingston Technology Europe Co LLP
9.4. LITE-ON Technology Corporation
9.5. Western Digital Corporation
9.6. Micron Technology, Inc.
9.7. SK Hynix Inc.
9.8. Microsemi Corporation
9.9. Seagate Technology LLC
9.10. KIOXIA Corporation
For more information about this report visit https://www.researchandmarkets.com/r/enk35h