Technavio has been monitoring the solid-state drive (SSD) market, and it is expected to grow by USD 74,553.83 million from 2022 to 2027. The market will progress at a CAGR of 23.87% during the forecast period. This report aids business leaders with an up-to-date analysis that includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. The increasing emergence of 3D NAND is an emerging trend in the SSD market. The architecture of NAND flash devices is one-dimensional. Increasing the density allows more data to be stored, thus expanding the capacity of SSD.

Moreover, 3D NAND drives are gaining significant traction in IoT devices and autonomous vehicles. Hence, the development of storage devices has increased significantly. For instance, in July 2018, Toshiba Memory developed a prototype sample of the 96-layer BiCS FLASH, its proprietary 3D flash memory. Additionally, due to the high growth potential of the 3D NAND market, leading vendors are increasingly investing in the development of 3D NAND fab facilities. Download the Latest Sample Report here.Solid State Drive (SSD) Market 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our solid-state drive (SSD) market report covers the following areas:

• Solid State Drive (SSD) Market size
• Solid State Drive (SSD) Market trends
• Solid State Drive (SSD) Market industry analysis
• Solid State Drive (SSD) Market five forces analysis
• Solid State Drive (SSD) Market competitive landscape
• Solid State Drive (SSD) Market 2023-2027: Major Driver

The growing enterprise data storage requirements will drive the growth of the SSD market during the forecast period. Growing Internet penetration worldwide for both professional and personal uses has led to the growth of digital data, which has increased the demand for efficient storage infrastructure for storing and processing data. Various vendors have created storage infrastructure products that meet the growing demands of different types of businesses across multiple verticals, including banking, financial services and insurance (BFSI), healthcare, and manufacturing. Due to the growing data generation among small and medium-sized enterprises (SMEs), the adoption of SSDs is increasing. Hence, the enterprise storage market will gain high revenue through the adoption of arrays that aid in achieving business continuity. Such factors are expected to drive market growth for solid-state drivers.

Solid State Drive (SSD) Market 2023-2027: Segmentation

Type

• TLC
• MLC
• SLC

End-user

• Laptops
• PCs

Geography

• APAC
• North America
• Europe
• South America
• Middle East And Africa

The market share growth by the TLC segment will be significant during the forecast period. TLC is the most affordable form of NAND flash and only 3 bits can be stored per cell, It is ideal for consumer use, including accessories such as memory cards. TLC has better error correction requirements and is the cheapest NAND flash memory available in the market. Additionally, its read/write life cycles are considerably shorter than those of SLCs and MLCs, which makes it ideal for applications that do not require several write cycles. Hence, the TLC segment is expected to grow during the forecast period due to features such as better error correction requirements and low costs.

Key Challenges
This study identifies poor latency and endurance as one of the prime reasons challenging the solid-state drive (SSD) market growth. Write latency can be masked with write-back caching, but read latency cannot be hidden. SSDs typically have hundreds of microseconds of latency. In some cases, the delay can exceed tens of milliseconds or even seconds when access is interrupted by an internal task of the device. The situation is further complicated due to the lack of coordination between different devices, which results in unpredictable IO performance due to uncoordinated internal tasks. Another major roadblock is endurance due to its limited write cycles when compared with hard disks. Therefore, factors such as endurance are expected to hinder the growth of the market during the forecast period.

What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!
• Solid State Drive (SSD) Market 2023-2027: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. We provide a detailed analysis of around 25 vendors operating in the solid state drive (SSD) market, including ADATA Technology Co. Ltd., Corsair Gaming Inc., DataDirect Networks Inc., Intel Corp., International Business Machines Corp., Kingston Technology Co. Inc., Kioxia Corp., LITE ON Technology Corp., Maxta Inc., Micron Technology Inc., NetApp Inc., Pure Storage Inc., Samsung Electronics Co. Ltd., Seagate Technology Holdings Public Ltd. Co, Simms International plc, SK HYNIX Inc., Sony Group Corp., Toshiba Corp., Transcend Information Inc., and Western Digital Corp. Backed with competitive intelligence and benchmarking, our research reports on the solid state drive (SSD) market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Vendor Offerings

• NetApp Inc. - The company offers a wide range of solid-state drives such as EF600, EF300, and EF570, among others.
• Kingston Technology Co. Inc. - The company offers a wide range of solid-state drives such as A2000 NVMe Pcle SSD and A400 SATA SSD, among others.
• Micron Technology Inc. - The company offers a wide range of SSDs such as 3400 SSD with NVMe, 5210 SATA SSD, and 9300 SSD With NVMe, among others.
• For more insights on vendors and their offerings - Request a sample report!

Solid State Drive (SSD) Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027

• Detailed information on factors that will assist solid-state drive (SSD) market growth during the next five years
• Estimation of the solid-state drive (SSD) market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the solid-state drive (SSD) market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of solid-state drive (SSD) market vendors