IMARC Group latest research study “Solid State Drive (SSD) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global solid state drive (SSD) market size reached US$ 46.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 110.2 Billion by 2028, exhibiting a growth rate (CAGR) of 14.23% during 2023-2028.
What Are Solid State Drives?
Solid state drive (SSD), also known as a solid-state disk, refers to a storage device that relies on integrated circuit assemblies as memory to store data in computers, laptops, digital cameras, smartphones, tablets, and digital music players. It comprises a spinning disk and a read or writes head on a mechanical arm called an actuator. It is widely available as a peripheral component interconnect express (PCIe) and nonvolatile memory express (NVMe), and mSATA III, serial advanced technology attachment (SATA) III, and traditional SSDs. It is lightweight and compact and consumes less power, produces less audible noise, and provides faster boot times with better performance. It is more shock-resistant and can handle heat compared to HDDs as it does not have any moving parts. It is used as an alternative to traditional hard disk drives (HDDs) in computers and performs the same functions as a hard drive. It downloads files quickly that can be saved faster and offer low latency that can efficiently handle heavy read and random workloads. It allows fast data storage and retrieval and offers computer manufacturers more design flexibility. Besides this, as it is safe from the magnetic effect and produces no vibration due to the flash technology, SSD is widely employed in small and medium-sized enterprises (SMEs) and large enterprises across the globe.
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Solid State Drive (SSD) Market Trends and Drivers:
At present, the rising adoption of SSDs in data centers due to increased productivity and efficient read and write processes represents one of the key factors supporting the growth of the market. Besides this, the growing demand for SSDs over HDDs on account of enhanced efficiency and faster workflow is offering a positive market outlook. Additionally, there is a rise in the need for higher input or output (I/O) in various business organizations around the world.
This, coupled with the increasing utilization of SSDs among enterprises for eliminating mechanical failures and improving operational performance, is propelling the growth of the market. Apart from this, the rising number of high-end cloud computing platforms across the globe is offering lucrative growth opportunities to industry investors. Moreover, the increasing adoption of SSDs in mobile devices due to their lightweight, reduced latency, and low failure rates is positively influencing the market.
In addition, the rapid digitalization and the rising adoption of various consumer electronic products among the masses around the world are contributing to the growth of the market. Furthermore, key players are introducing ultra-low-power SSDs with high-capacity storage for gamers and content creators, which is strengthening the market growth.
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Solid State Drive (SSD) Market Report Scope |
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Report Coverage |
Details |
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Market size value in 2022 |
US$ 46.2 Billion |
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Market forecast in 2028 |
US$ 110.2 Billion |
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Growth Rate |
CAGR of 14.23% from 2023 to 2028 |
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Base year for estimation |
2022 |
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Historical data |
2017-2022 |
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Forecast period |
2023-2028 |
Global Solid State Drive (SSD) Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Solid State Drive (SSD) Companies:
ADATA Technology Co. Ltd.
Corsair Gaming Inc. (NASDAQ: CRSR)
Kingston Technology Corporation
KIOXIA Holdings Corporation
Micron Technology Inc. (NASDAQ: MU)
Samsung Electronics Co. Ltd.
Seagate Technology LLC
SK hynix Inc.
Toshiba Corporation
Transcend Information Inc.
Western Digital Corporation
The report has segmented the market on the basis of region, type, interface, form factor, storage and application.
Breakup by Type:
- External
- Internal
Breakup by Interface:
- SATA
- SAS
- PCIe
Breakup by Form Factor:
- 1.8”/2.5”
- 3.5”
- M.2
- U.2 (SFF 8639)
- FHHL and HHHL
Breakup by Storage:
- Under 500 GB
- 500 GB–1 TB
- 1 TB–2 TB
- Above 2 TB
Breakup by Application:
- Enterprise
- Client
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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