Solid State Drive (SSD) Market Size, By Interface (Serial ATA (SATA), Serial Attached SCSI (SAS), Peripheral Component Interconnect Express (PCIe)), By Technology (Single Level Cell (SLC), Multi Level Cell (MLC), Triple Level Cell (TLC)), By Storage (Under 500 GB, 500 GB - 1 TB, 1T B - 2 TB, Above 2 TB), By Application (Enterprise, Client), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Solid State Drive Market Size

Solid State Drive Market size exceeded USD 55 billion in 2019 and is anticipated to grow at over 15% CAGR between 2020 and 2026. The proliferation of cloud computing platforms among several enterprises and consumers for personal usage to back up their data will increase the demand for SSDs in the coming years. Major market players in cloud computing are increasing the adoption of theses drives for quick data access and high speed in work process.
 

Solid state drives are also experiencing significant acceptance in the automotive sector for next generation connected cars and infotainment passenger vehicles, fostering the SSD market growth. In connected car applications, solid state drives are used to meet the requirements for high-performance graphics, data storage, and communications. Also, SSD offers flash storage solution that aids to deliver high-performance storage and reliability in several in-vehicle applications including driver assist technology, entertainment system, navigation system, and 3D mapping.
 

However, COVID-19 pandemic has restrained the research & development initiative in the automotive sector due to the shutdown of several major manufacturing plants worldwide. The post COVID impact will increase the initiative toward autonomous technology, fueling the solid state drive market progression. Adding to this, the rising data traffic credited to the work from home scenario has propelled the industry demand for solid state drives in data centers. These drives will help data center companies to deliver high performance and powerful input output operation for mega clouds and servers.
 

Solid State Drive Market Analysis

The SATA segment dominated more than 85% of the market share in 2019 and is poised to witness 20% growth rate through 2026. SATA majorly includes low-cost interface designing, which increases its demand in a wide range of applications including laptops, PCs, and data centers. The adoption of SATA interface solid state drives in data centers aid to deliver faster data transfer with high signaling rates, low cable size, and efficient transfer with I/O queuing protocol.
 

In the U.S., SATA segment is expected to reach USD 15 billion with shipments of more than 80 million by 2026. Data center companies particularly in the U.S. are seeking to enhance the performance and reliability of their existing storage systems without changing to a new infrastructure. They are thus focusing to advance the integration of SATA interface in solid state drives and gain huge market opportunities in data center applications.
 

The TLC segment in the solid state drive market held 25% of revenue share in 2019 led by the decline in cost of GB per SSD, which shifted the usage of technology from SLC to TLC. Acceptance of TLC in solid state drives helps to deliver cost-effective solution with high storage density. This will result in high market opportunities for TLC in consumer electronics products such as tablets and notebooks.
 

Furthermore, the increase in speed for read and write performance in solid state drives will stimulate the demand for TLC. The integration of 3D NAND technology with TLC helps customers with data storage requirements, supporting the industry expansion. The companies are continuously engaged in the development of 3D technology in solid state drives to cater to the high demand in the industry.
 

The 1 TB - 2 TB segment is estimated to attain a CAGR of 20% till 2026 owing to the rising demand for high storage drives to deliver mechanical characteristics and high performance in various applications including gaming, data centers, and other consumer electronic devices. In gaming applications, the demand for high storage SSD is increasing to deliver sequential read speed and ensure stable performance to consumers in UK, France, and other EU regions. The UK market is expected to cross USD 2.5 billion and is predicted to expand at more than 12% CAGR during the forecast timeline. To cater to the high demand in the market, companies are increasing their storage capacity in solid state drives.
 

The client segment accounted for 65% of the solid state drive market share in 2019 impelled by the rise in content and digital data generation, which increases the requirement for high speed and large data storage. Proliferation of consumer preference toward advanced computing devices, such as smartphones, tablets, laptops, and PC, will boost the usage of solid state drives.
 

Increasing adoption of digital platforms for money transfer, online shopping, gaming, and other applications is rising the requirement for mobile devices with long battery life and high performance. Market leaders are innovating new technology solutions to cater to the demands for high power efficiency and improved endurance.
 

North America solid state drive market is projected to register growth of over 15% during 2020 to 2026 on account of the proliferation of 5G technology in the U.S. According to global5G.org, it is slated that all 5G mobile connections in the U.S. will reach 40% in 2023 and up to 60% in 2025. This will increase the requirement for cloud storage, thereby creating growth opportunities for solid state drives. Several small & large enterprises and cloud storage providers are planning to transform their businesses by replacing Hard Disk Drive (HDD) with SSD. This will help the companies to achieve high performance in lesser time and speed up the data transfer.
 

Solid State Drive Market Share

The leading players operating in the SSD market are

• Samsung
• Intel Corporation
• Western Digital
• Toshiba Corporation
• Micron
• Seagate Technology PLC

Companies offering solid state drives are continuously innovating new products with high storage capacity to compete in the industry.
 

The solid state drive (SSD) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2026 for the following segments:

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Market, By Interface  

• SATA
• SAS
• PCIe

Market, By Technology

• SLC
• MLC
• TLC

Market, By Storage

• Under 500 GB
• 500 GB - 1 TB
• 1 TB - 2 TB
• Above 2 TB

Market, By Application

• Enterprise
• Client

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • France
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA
  • GCC
  • South Africa