Industry Outlook & Trend Analysis.
The Solid State Drive (SSD) market was worth USD 17.69 billion in 2014 and is expected to reach approximately USD 60.39 billion by 2023 at a CAGR of 14.61%. SSD can be thought of as an over-sized and more sophisticated version of USB memory stick. In comparison with HDD, SSD is a fast, convenient, more energy efficient and less noisy. It consists of microchips to store data unlike the age old HDD which has moving mechanical arm to read and write data from the disk. Need for improvised speed, faster computing and data security are the major drivers for the Solid State Drive Market.
Form Factor Outlook & Trend Analysis
According to form Factor the SSD is divided into five categories namely 2.5”, 3.5”, M.2, U.2/SFF 8639 and FHHL/HHHL. As 2.5” can connect to all interfaces it is currently dominating the market share. Half Height Half Length or Full height Half Length or drives with even bigger form factor are estimated to grow at fastest rate and are also estimated to dominate the market in the forecast period.
Interface Outlook & Trend Analysis
Based on interface, the SSD market is fragmented as SATA, SAS, and PCIe. The market share for SATA was the biggest in the year 2016 owing mainly to its low-cost interface design. Besides this SATA also offers highly efficient transfer through I/O queuing protocol, faster data transferring through high signaling rates, small cable size and low cable cost. SAS interface is foreseen to have a lucrative growth during forecast period due to its reliability, cost reduction, scalability, security, and need of organizations to store data on a cloud based data center.
End-user Outlook & Trend Analysis
The End-User market is divided into Industrial, Client, Automobile and Enterprises. The Automobile sector holds the largest share of market and is expected to grow during the forecast period due to high demand of faster data processing, efficient and high performance graphics, data storage which are all fulfilled by a SSD. The SSD has wide range application in various in vehicle applications such as navigation, entertainment systems, 3D mapping, etc.
Regional Outlook & Trend Analysis
North America currently holds the largest share in regional SSD market due to leading companies providing highly developed SSDs as advanced storage solutions. To gain a competitive edge over competitors, enterprises in North America are spending on their IT infrastructure. These factors have overall given North America a strong hold on market. The Asia-Pacific market is predicted to grow at fastest rate during forecast period due to rising popularity of social media, increasing IT budgets, increase in next generation connected devices, demand for high storage capacity devices, and escalating numbers of data centers. Besides this increasing use of mobile phones, laptops and other smart devices would boost the APAC market for SSD.
The leading players in market are Samsung, Western Digital, Intel, Toshiba, Seagate, Microsemi, SK Hynix, Kingston, Lite-On and Micron. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Solid State Drive (SSD) Market is segmented as follows-
By Form Factor:
By End Use:
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?