August 24, 2020
According to the recent research report titled ‘Solid State Drive (SSD) Market Size By Interface, By Technology By Storage, By Application (Enterprise, Client), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global solid state drive (SSD) market is projected to record substantial growth during 2020-2026.
Growing adoption of SSD in data centers, applications in the automotive sector, and rising penetration of high-end cloud computing are factors driving the growth of global solid state drive (SSD) market. In addition, decreasing cost of SSD, growing initiatives for deployment of 5G technology in developing economies, and surging demand from consumer electronics are adding momentum to industry expansion.
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For those uninitiated, SSD (solid state drive) are memory chips that the circuit board is equipped with. This device is an alternative for mechanical hard disks in the computers and depends on flash-based memory to store data. This stored data is significantly faster, which further accelerates computer performance credited to quick throughputs as well as less read-access times.
There are no moving parts in SSD, instead it uses NAND flash memory, that is more stable and lasts longer. Gaming computers have expanded their scope, justifying the costly equipment for better gaming performance.
Based on mobility, they have less power needs, further contributing to improved battery life in laptops and tablets. Moreover, they possess shock resistant properties, reducing the risk of data loss in case the cell phone falls.
Business organizations working with huge amount of data depend on SSDs because of its file transfer speed and access times.
Notably, SSDs offer faster load times for games, movies, and applications. The technology they use makes them lighter, allowing them to endure movement and damage from drops. They also save costs of sophisticated cooling system, as they enable computers to run cooler.
Speaking of storage, global SSD industry is divided into under 500 GB, 500 GB- 1 TB, 1 TB- 2 TB, and above 2 TB. The under 500 GB segment held 70% share of the market in 2019 on account of increasing product adoption in laptops and PCs to provide security and high speed.
Citing the regional landscape, Middle East & Africa held 7% share of solid state drive market in 2019 owing to increasing initiatives for 5G deployment.
Leading organizations in global solid state drive (SSD) market are Western Digital, Viking Technology, SK Hynix Inc., Seagate Technology LLC, Samsung Group, Netapp Inc., Mushkin Enhanced MFG, Microsemi Corporation, Micron Technology, KIOXIA America, Inc (Toshiba Corporation), Kinston Technology, Intel Corporation, Bitmicro networks Inc., and ADATA Technology Co. Ltd.