The global solid state drive (SSD) market size is expected to reach USD 25.51 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 14.7% during the forecast period. The market is majorly driven by increasing penetration of high-end cloud computing, growing adoption of SSDs in data centers, and numerous advantages of SSDs over hard disk drives (HDDs).
Intensive
use of social media, booming online commerce, and surge in media content will
play a critical role in driving the SSD market over the forecast period. The
average household’s storage capacity is expected to increase over the coming
years due to the popularity of smartphones and tablets, which has allowed
consumers to generate large volumes of digital data and content. This has led
to the growing demand for sufficient capacity to store content.
Rising
adoption of SSDs in data centers is a result of various factors such as its
greater efficiency compared to traditional HDD storage, increased demand for
storage infrastructure, and advancements in enterprise-level SSD in terms of
reliability and performance. Enterprises prefer SSDs because they consume less
energy, allow for reduction in sprawl, and result in a smaller environmental
footprint.
The
North American region led the market in terms of revenue in 2016. The exchange rate
of hard disk drives (HDDs) with SSDs is higher in North America as compared to
other regions. Similarly, manufacturers are focusing on product differentiation
and innovation to increase geographical reach as well as revenue. This will
further help accelerate demand for SSDs.
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Solid State Drive
Market Report Highlights
- Intensive use of social
media, booming online commerce, and surge in media content will play a
critical role in driving the SSD market over the forecast period
- The average household’s
storage capacity is expected to increase over the coming years due to the
popularity of smartphones and tablets, which has allowed consumers to
generate large volumes of digital data and content. This has led to the
growing demand for sufficient capacity to store content
- South America and MEA
markets are majorly driven by increasing usage of laptops and smartphones
embedded with SSDs. Increasing knowledge about the advantages of SSDs over
HDDs is expected to boost demand for SSDs over the forecast period in
these regions. On the other hand, the high price of SSDs is expected to
negatively impact the demand
- Key players in the market
include Intel Corporation; Micron Technology, Inc.; Samsung Electronics
Co., Ltd.; Seagate Technology PLC; and Western Digital Corporation.
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Solid State Drive
Market Segmentation
Grand View Research has segmented
the global solid state drive market based on type, storage, end use, and
region:
Solid State Drive
Type Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
- External
- Internal
Solid State Drive
Storage Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
- Under 120 GB
- 120GB-320GB
- 320GB-500GB
- 500GB-1TB
- 1TB-2TB
- Above 2TB
Solid State Drive
End-Use Outlook(Volume, Million Units; Revenue, USD Million, 2014 - 2025)
- Enterprise
- Small
- Medium
- Large
- Client
Solid State Drive
Regional Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- Asia Pacific
- China
- India
- Taiwan
- South America
- Brazil
- The Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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