The Global Solid State Drive (SSD) Market size is expected to reach $18.4 billion by 2023, rising at a market growth of 14.1% CAGR during the forecast period. A solid-state drive (SSD) is a nonvolatile storage device which is used to store persistent data on solid-state flash memory. Solid-state drives are typically not hard drives in the actual sense, as moving parts are involved in the process. The SSD has an array of semiconductor memory which is organized as a disk drive, using integrated circuits (ICs) instead of magnetic or optical storage media. The SSD has an array of semiconductor memory which is organized as a disk drive, using integrated circuits (ICs) instead of magnetic or optical storage media. An SSD can also be referred to as a solid-state disk.
Technological advancements and rapid adoption of SSDs due to rapidly growing need for higher input/output (I/O) performance have contributed to the growth of the market during the forecast period. Advantages of solid state drives (SSDs) over hard disk drives (HDDs), reliability and performance of the SDDs, and increasing usage of SSDs in data centers are the factors that would drive the market during the forecast period. Based on Type, the market report segments the market into External and Internal. Based on Storage, the Solid State Drive (SSD) market segments the market into 120 GB - 320 GB, 320 GB - 500 GB, 500 GB - 1 TB, 1 TB - 2 TB, More Than 2 TB, and Less Than 120 GB. Based on Regions, the Solid State Drive (SSD) market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The market research report covers the competition analysis of key stake holders of the Global Solid State Drive (SSD) Market. Key companies profiled in the report include BiTMICRO Networks, Inc., Intel Corporation, Kingston Technology Corporation, Micron Technology, Inc., Microsemi Corporation, Samsung Electronics Co., Ltd., Seagate Technology Plc., SK Group (SK Hynix, Inc.), Western Digital Corporation, and Toshiba Corporation.