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Solid State Drives Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023 | BlueWeave Consulting & Research Pvt Ltd.

A solid state drive (SDD) is a type of non-volatile storage media that stores persistent data on solid-state flash memory. The architectural configuration of a typical SDD controller is optimized to deliver high performance of read and write functions. Unlike hard disk drive (HDD), SDD has no moving part to break down and stop functioning. Apart from this, SDD is also a very much viable option for large data center as it offers speed, mass volume, and hierarchical storage mechanism.

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The future of global Solid State Drives SDD market is prophesied to be attractive with increasing digitization and growth of media content, across the globe. As per the study, global solid state drive market is estimated to cross the $60,000 million mark by 2023. On the account of significant advancement in technologies, high enterprise application demand for greater performance, storage, power efficiency, more dependability requirement from content generation industry, and swelling large data centers, the global SDD market has been gaining more traction in recent times.

Lucrative opportunities in the design and development of SDDs along with massively growing adoption of cloud technology, is firming a positive future of the global solid state drive industry. The study provides a thorough scenario of the present and conjecture solid state drive business around the globe. The prevalent trends, driver, opportunities, and restraints have been covered and incorporated in this industry analysis.

As per findings of the research, sales of SATA has been recorded the largest in the global market in 2018 and is expected to continue rising ahead in forecast years on the back of its excellent storage capabilities, hot swapping features, and data transfer speed. Additionally, the growth of high mass storage or even above 2TB is expected to witness fastest growth in the global market during the forecast period.

Emerging trends which promises a continuous growth of the global SDD market include rapid emergence of the wireless storage devices, relaxing regulation in regions, and growing digital content due to emergence of e-commerce and social media. Some factors which are driving the global market includes increasing utilization of the technology in personal computers, higher demand by consumer electronics segment, and reduction in application launch time. The global marketplace also fears challenges to growth from factors such as high cost of SSD, expensive manufacturing process, and low market awareness.

By region, North America has been the largest market for the sales of solid state drive due to mass adoption of personal computing systems by the citizens, and an early adoption of SSD by the regional organizations. However, the market in Asia-Pacific is expected to witness the fastest growth among all regions, during the forecast period. The anticipated growth in the Asia-Pacific market is expected due to increasing digitalization, advancement in new technologies, growth in media industry, and increasing adoption of cloud technologies by the enterprises. In addition to this, Asia-Pacific is developing as a service provider base for the globe, which is in turn attracting huge investment from the public and private players in the manufacturing of SSD as comparatively lower capital than developed regions.

The research states that the global SDD market is very slightly competitive, and moving towards a consolidating structure Players such as Samsung Electronics Co. Ltd., Intel Corporation, SanDisk Corporation Inc., and Toshiba Corporation are dominating the global market with string hold on consumer base and brand power. However, mid-level players are upgrading their design and development capabilities to compete in this marketplace.

Development in the SSD market:

The companies are strengthening their presence in SSD market with the acquisition. For instance, Western Digital had acquired SiliconSystems Inc. in a $65 million cash deal. The acquisition allows Western digital to enter in SSD market effectively and immediately

In April 2016, SanDisk Corp has reported an increase in quarterly revenue, due to strong demand for its chips used in solid-state drives and data centers.

In March 2017, Toshiba America Electronic Components, Inc. (TAEC) has generated revenue of US$17 billion in solid state drive (SSD) segment in 2016. The SSD business of Toshiba also realized strong growth. The SSD segment revenue has increased by 114% year over year in 2016. In 2016, Toshiba has occupied the fourth share position in the SSD market. In SSD market, the major customers for Toshiba are data centers. In 2003, Samsung had hold 60% market share in SSD market.

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