DUBLIN--(BUSINESS WIRE)--The "Global Solid States Drives Market Outlook, 2027" report has been added to ResearchAndMarkets.com's offering.
According to this the Solid-State Drive market is expected to reach more than $40 Billion in the year 2021. It is expected to expand at a compound annual growth rate (CAGR) of 17% from 2022 to 2027. The data storage industry is expected to witness an increase in its consumption over the next couple of years. In order to fulfill this massive need, the two leading storage solutions, namely hard disk drives and solid-state drives, have emerged as the ones to use.
Unlike traditional storage mediums, a Solid-state drive (SSD) is a new generation of storage device used in computers. SSDs simply use flash-based memory, which is far faster than a mechanical hard disk. Traditionally, data was stored primarily on mechanical hard drives and these hard disk drives (HDDs) are mostly based on moving parts, like a read/write head that goes back and forth to gather data. The new SSD work completely differently. They use a memory chip called NAND flash, which has no moving parts and near-instant access times.
Rather than a magnetic platter, files are saved on a grid of NAND flash cells and each grid, which is also called a block, can store between 256 KB and 4MB. In SSD, data is stored in integrated circuits, which is different from HDDs and it also has a lot of implications, especially in size and performance. Without the need for a spinning disk, SSDs can be reduced to the shape and size of a stick of gum (known as the M.2 form factor) or even as small as a postage stamp. It has a capacity of how much data they can hold and makes them flexible for smaller devices, such as slim laptops, convertibles, or 2 in 1s. SSDs dramatically reduce access time since users don't have to wait for magnetic platter rotation to start. Initially, in terms of cost, SSDs are more expensive than HDDs per amount of storage (in gigabytes and terabytes), but the gap is closing as SSD prices decline at a faster pace than HDD prices year over year.
Region-wise, Asia Pacific contributed the highest market share, approximately 40% shares of the global market. The Increasing popularity of cryptocurrencies such as Bitcoin has resulted in shortages of graphics cards as crypto miners buy them in bulk. The new cryptocurrency is called Chia, which is developing on peer-to-peer Bit Torrent protocol and uses a proof of space-time model rather than a proof of work model. It means Chia relies on storage instated of processing performance to mine, and it means a lot less wasted electricity in the process and required more storage capacity. Increasing online storage services and providing fast and cheaper solution for storage require less need for high-capacity local storage. Therefore models with less storage capacity with SSD gaining popularity in the market. In the global market, By Storage size, under the 500 GB dominating in 2021 and contributing more than 50%.
Impact of Covid-19 on Solid-State Drive Market:
In 2020, a sudden outbreak of the COVID-19 pandemic has disrupted the supply chain globally. In the same year, the growth of the market reported was decreasing due to the imposition of lockdown in almost all the major countries and halted manufacturing activities resulting in delayed production.
Major Companies present in the market:
Samsung Electronics Co. Limited, Kingston Technology Corporation, Western Digital Corporation, Seagate Technology Holdings Public Limited, Intel Corporation, Adata Technology Co. Ltd, Kioxia Holdings Corporation, Micron Technology, Inc., SK Hynix Inc., Transcend Information Inc.
Considered in this report
- Geography: Global
- Historic Year: 2016
- Base year: 2021
- Estimated year: 2022
- Forecast year: 2027
Aspects covered in this report
- Global Solid-State Drive market with its value and forecast along with its segments
- Region & country wise market analysis
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
Regions & Countries covered in the report
- North America - United States, Canada, Mexico
- Europe - Germany, United Kingdom, France, Italy, Spain, Russia
- Asia-Pacific - China, Japan, South Korea, India, Australia
- Latin America - Brazil, Argentina, Columbia
- Middle-East & Africa - UAE, Saudi Arabia, South Africa
By End User of Solid-State Drive in the report:
- Client SSD
- Enterprise SSD
- Others
By Interface in the report:
- SATA
- SAS
- PCIE
By Storage Size in the report:
- Under 500 GB
- 500 GB-1 TB
- 1 TB - 2 TB
- Above 2 TB
This report would help you answer the following questions:
1. What is the growth rate of Global Solid State Drive Market?
2. Which type of interface dominating SSD market?
3. Which region has largest share in Global Solid State Drive Market?
4. Which Country has fastest growth rate in Global Solid State Drive Market?
5. Who are the key players in Global Solid State Drive Market?
For more information about this report visit https://www.researchandmarkets.com/r/n554xi
