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Solid State Drive (SSD) Market Size

Report ID: GMI2549
Published Date: Jun 2020
Report Format: PDF

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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.

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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 (SSD) Market Report Attributes
Report Attribute	Details
Base Year:	2019
Solid State Drive (SSD) Market Size in 2019:	55 Billion (USD)
Forecast Period:	2020 to 2026
Forecast Period 2020 to 2026 CAGR:	15%
2026 Value Projection:	125 Billion (USD)
Historical Data for:	2016 to 2019
No. of Pages:	280
Tables, Charts & Figures:	416
Segments covered:	Interface, Technology, Storage, Application
Growth Drivers:	Rising adoption of SSD in data centers Emerging application of SSD in automotive sector Increasing penetration for high end cloud computing Declining cost of SSD will gain advantage over HDD Rising initiative for deployment of 5G technology in developing nations Increasing demand from consumer electronics products
Pitfalls & Challenges:	Design complexity and shorter life span

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Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

The market size of solid state drive exceeded USD 55 billion in 2019.

The industry share of solid state drive is poised to grow at around 15% CAGR between 2020 and 2026.

North America market will observe a growth rate of over 15% during the forecast timeline impelled by proliferation of 5G technology in the U.S.

According to the analysts at GMI, the SATA interface segment held a market share of over 85% and is anticipated to witness around 20% growth through 2026.

The leading market players include Samsung, Intel Corporation, Western Digital, Toshiba Corporation, Micron, Seagate Technology PLC.

The client application segment dominates the market revenue share due to rise in content and digital data generation, which increases the requirement for high speed and large data storage.