Solid State Drive Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The Solid State Drive Market size is valued at USD 56.98 billion in 2024 and is projected to grow at a CAGR of around 14.9% during the forecast period, i.e., 2024-30. The burgeoning usage of Solid-State Drives (SSDs) in consumer electronic devices, including tablets, laptops, desktops, & smartphones, is driving the market. Besides, the rising application of SSDs in data centers & cloud computing applications is another crucial factor augmenting the global market growth.
Markntel Advisor’s Solid State Drive Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Solid State Drive Market drivers, barriers, Solid State Drive Market Trends, and Key Players in Solid State Drive Market.
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Solid State Drive Market Dynamics: 2024-2030
Solid State Drive Market Driver:
The spread of the pandemic led to the government imposing and businesses implementing numerous measures to try to contain the virus. These measures include the stay-at-home policy & social distancing norms, shutdowns, travel bans, etc. These factors have impacted the operations of several industries and respective suppliers & vendors.
Due to the imposition of lockdown, several companies started working remotely to maintain social distancing and contain the spread of the virus. Data centers, the central points for accessing the data and essential business applications, became one of the primary aspects that contributed to the surging demand for SSDs in 2020.
People staying at home increased the usage of the internet, which led to the generation of large data volumes. This massive data is processed & managed by data centers, i.e., fueling the overall market growth.
However, on the other side, the delay in construction of new data centers and supply chain disruptions led to a slowdown in the adoption of SSDs amidst the pandemic.
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Solid State Drive Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
- By Type
- External
- Internal
- By Interface
- Serial Advanced Technology Attachment (SATA)
- Serial-Attached SCSI (SAS)
- Peripheral Component Interconnect Express (PCI-E)
- By Application
- Database
- SQL
- No-SQL
- Virtualization
- Desktops
- Servers
- High Performance Capacity
- Up SSD
- Out SSD
- Cloud
- Fixed
- Varied
- By Storage Capacity
- Under 120 GB
- 121GB-320GB
- 321GB-500GB
- 501GB-1TB
- 1TB-2TB
- Above 2TB
- By Technology
- Triple-Level Cell Flash (TLC) 3D
- Triple-Level Cell Flash (TLC) Planar
- Multi-Level Cell (MLC) 3D
- Multi-Level Cell (MLC) Planar
- Single-Level Cell (SLC)
- By Form Factor
- 8”/2.5”
- 5”
- 2
- 2 (SFF 8639)
- FHHL and HHHL
- By End User
- Enterprise
- Server Attached
- Storage Attached
- Client
- Desktop PC
- Notebook
- Tablet
- Others
- Industrial
- Automotive
- Enterprise
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
- Database
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Top Companies Operating in the Solid State Drive Market:
- Samsung Electronics Co., Ltd.
- Intel Corporation
- Western Digital Corporation
- Micron Technology, Inc.
- Toshiba Corporation
- Seagate Technology PLC
- Microsemi Corporation
- SK Hynix
- Kingston Technology Corporation
- BiTMICRO Networks, Inc.
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