Selbyville, Delaware, United States, November 5 2020 (Wiredrelease) Global Market Insights, Inc –:The solid state drives market is estimated to register lucrative revenue growth given to the product’s high performance features compared to conventional HDDs. Solid state drives have come up as an effective alternative to conventional mechanical hard disks. The product has fast throughput rates and low read-access times, enabling it to drastically speed up overall computers performance.
Driven by better efficiency and high performance characteristics, the demand for SSDs has skyrocketed over the years, especially to drive applications like big data analytics, smart devices, high graphic games and cloud computing. With growing significance, Global Market Insights, Inc., suggests that the solid state drives market could surpass USD 125 billion by the year 2026.
SSDs are observing a huge spike in adoption across data center facilities on account of numerous storage expansion activities. They help provide superior performance, efficiency, and reliability, enhancing data center operations. The introduction of 5G technology across countries like the US could fuel the demand for efficient data storage equipment.
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Numerous SMEs and large organizations are gradually inclining towards SSDs owing to its remarkable benefits like reduction in sprawl, small environmental footprint, and low power consumption. SSDs are witnessing heavy demand from client applications as these devices help improve user experience with enhanced boot time, application load, and copying files.
In terms of storage, the Solid state drives market is categorized into above 2 TB, 1T B – 2 TB, 500 GB – 1 TB, and under 500 GB. The above 2 TB SSD storage devices market is projected to record a CAGR of almost 25%, registering over 30 million unit shipments within 2026. Increasing development of connected and smart appliances along with rapid expansion of smart city infrastructure could boost the adoption of high-quality SSDs to process and store Big Data. Moreover, surging adoption of the Internet of Things (IoT) across practically every sector might further support industry growth.
Meanwhile, rapid development across the gaming sector coupled with increasing adoption of high encrypted graphics to create realistic games could play a crucial role in expanding the storage capacities of gaming laptops and consoles. Electronic manufacturers have begun developing SSDs that offer high and improved storage options especially for gaming. For example, in June 2019, Western Digital released SN750 NVMe SSD based on the M.2 form factor for PC games.
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Prominent industry players, on the other hand, have started to target their efforts on signing new strategic acquisition & collaboration deals and product innovation to enhance consumer base and market share. They are also developing new software solutions to enhance SSD performance. Taking September 2019 for instance, Samsung Electronics, launched its latest software innovations for its cutting-edge PCIe Gen4 SSD series. These new devices are clocked at almost 8,000MB/s, which is twice as fast as Gen3 SSDs.
Table Of Content:
Chapter 5. Solid state drives market, By Interface (Revenue, Shipments)
5.1. Key trends, by interface
5.2.1. Market estimates and forecast, 2016 – 2026
5.3.1. Market estimates and forecast, 2016 – 2026
5.4.1. Market estimates and forecast, 2016 – 2026
Chapter 6. Solid state drives market, By Technology (Revenue, Shipments)
6.1. Key trends, by technology
6.2.1. Market estimates and forecast, 2016 – 2026
6.3.1. Market estimates and forecast, 2016 – 2026
6.4.1. Market estimates and forecast, 2016 – 2026
Chapter 7. Solid state drives market, By Storage (Revenue, Shipments)
7.1. Key trends, by storage
7.2. Under 500 GB
7.2.1. Market estimates and forecast, 2016 – 2026
7.3. 500 GB-1TB
7.3.1. Market estimates and forecast, 2016 – 2026
7.4.1. Market estimates and forecast, 2016 – 2026
7.5. Above 2TB
7.5.1. Market estimates and forecast, 2016 – 2026
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