Global Solid-State Drive (SSD) Market to expand at a CAGR of 17.6% by 2030

Introduction

A solid-state drive (SSD) is a nonvolatile storage device that uses solid-state flash memory to store data files. Solid-state drives store data indefinitely on an integrated circuit (SSDs). A collection of electronic circuits integrated within a silicon semiconductor cell constitutes an integrated circuit. Solid-state drives (SSD) are faster, quieter, and generally preferred over hard disk drives (HDD) when available (HDD). Solid-state drives (SSDs) have primarily replaced hard disk drives (HDDs) in modern computers because they can perform the same primary functions. When a device is equipped with a solid-state drive (SSD), its operating system boots up faster, programs load faster, and files can be stored more quickly.

The expansion of the global SSD market is driven by the enhanced performance, high throughput, and enhanced power efficiency of enterprise SSDs. Moreover, the rapid evolution of high-end cloud applications significantly affects the adoption of SSD for data center applications. Due to the rising enterprise adoption of high-end cloud computing, the market for solid-state drives is projected to ascend significantly over the forecast period. In addition, businesses' rapid adoption of data center applications is driving market expansion. Additionally, the market is expected to be caused by the rapid adoption of SSDs over HDDs in key industry verticals. However, the high implementation cost of SSD solutions is a significant market restraint.

Market Dynamics

The Advancing Adoption in Data Center Applications to Drive the Global Solid-State Drive (SSD) Market

While consuming less energy, a single SSD outperforms multiple rotating disks. Therefore, you can integrate servers and reduce the storage rack's overall physical footprint. SSDs in data centers utilize a different set of metrics than SSDs in personal computers. Major data center players increasingly focus on establishing colocations and hyper-scale data centers in numerous developed regions for massive storage capacities and maintenance of enormous business data, thereby driving demand for SSDs. Hundreds of solid-state drives (SSDs) may be deployed in a typical data center. In a power outage, drives can become corrupted, resulting in massive downtime as drives must be reformatted and operating systems reinstalled; lost data can negatively affect business operations and customer relations; and damaged drives must be replaced, resulting in increased operating costs. Therefore, power loss protection (PLP) mechanisms are essential. One of the first to develop and release smaller form factor SSDs such as the M.2 2242 with an onboard PLP array, ATP Electronics utilizes a microcontroller unit (MCU) that provides unparalleled protection for its next-generation SSDs.

Serial ATA and NVMe (Nonvolatile Memory Express) SSDs will provide enhanced PLP protection in the market. As OEMs and end-user IT organizations continue to move away from legacy SATA and SAS interfaces, it is anticipated that NVMe-based SSDs will find more use in data centers. This is primarily due to swiftness, efficiency, capacity, and cost-effective scalability. Samsung has also begun mass production of a data center SSD with enhanced security features, including anti-rollback to prevent the downloading of firmware with a lower security version and a secure boot to verify the digital signature. Consequently, these trends illuminate the data center applications driving the demand for SSDs.

Cost-Effectiveness and New Architecture Developments to Create Global Solid-State Drive (SSD) Market Opportunities

Enterprise solid-state storage is anticipated to become less expensive in the coming years. Even though SSDs are a dollar per gigabyte more costly than HDDs, businesses typically switch to SSDs when profits increase rapidly. The evolution of technology from SLC (single-level cell) to MLC (multi-level cell) to TLC (three bits per cell) corresponds to scaling improvements and the transition from the 2D to the 3D era. Continual investments in fabrication facilities by memory companies ensure economies of scale for the entire industry and gradual price declines soon. SSDs have entered the mainstream as their niche applications have expanded into the mainstream. Zone storage and Zoned Namespaces now make this possible. The host collaborates on data placement so that the data can be aligned with the physical media of the SSD, thereby enhancing the host's overall performance, cost structure, and available capacity. It is anticipated that the emergence of new device types and architectures, particularly computational storage in Ethernet SSDs, will eliminate SSD market bottlenecks and generate growth opportunities.

Regional Insights

Asia Pacific is envisioned to hold the most significant market proportion during the forecast period while growing at a CAGR of 18.9%. China is primarily responsible for the dominance of the region. China is among the nations with the most rapidly expanding data production. Both the rapid adoption of advanced technologies and the high number of internet users in the country contribute to the rise in data volume in the country. The China Internet Network Information Center (CYNIC) predicted that mobile internet penetration in China would increase from 98.6% in 2018 to 99.7% in 2020. 

The increase in data volume in the country due to the high number of internet users is driving the development of data centers. CloudScene ranks China fourth in the world for data center density, behind the United States, the United Kingdom, and Germany. The country contains 416 data centers, 94 service providers, and three network fabrics. New policies designed to empower the digital economy, the development of new infrastructure, and a significant increase in data center demand can be observed on the ground. These factors contribute to solid-state drive systems' national growth and regional expansion.

North America will hold the second-largest share of USD 53 billion while growing at a CAGR of 16.1% during the forecast period. The US makes a substantial contribution to the region's shareholding. The United States is one of North America's largest markets for tablets, laptops, and desktop computers and is expected to be the market leader for SSDs. As the price per gigabyte of solid-state drives (SSDs) falls, SSDs are becoming increasingly popular in notebooks. As a result of the prevalence of inexpensive online storage services, the demand for high-capacity local storage has decreased, which is another factor promoting the adoption of SSDs. 

Consequently, notebook manufacturers can offer SSDs with less storage capacity and at a lower price. Developing connected and autonomous vehicles is disrupting the automotive and transportation industries in the United States. Connected and autonomous vehicles generate enormous amounts of data, necessitating a complex data storage and processing infrastructure. The demand for solid-state drives (SSDs) in the US automotive industry will increase as the number of connected and autonomous vehicles rises. Data centers require a massive storage infrastructure with new digital data from sectors such as media and entertainment and social media online. There is an increasing demand for solid-state drives (SSDs) and other rapidly accessible storage solutions for faster data processing and access.

Key Highlights

• The global solid-state drive (SSD) market had a revenue share of USD 40.71 billion in 2021, projected to reach USD 149.95 billion at a CAGR of 17.7% during the forecast period.
• Based on the SSD interface, the PCle segment is expected to hold the largest share during the forecast period and grow at a CAGR of 20.6%.
• Based on the application, the client segment will likely hold the most significant market proportion during the forecast period and grow at a CAGR of 19.5%.
• Based on regional analysis, Asia Pacific is envisioned to hold the most significant market proportion during the forecast period and grow at a CAGR of 18.9%.

Competitive Players

1. Intel Corporation
2. Samsung Group
3. Micron Technology Inc.
4. Western Digital Corporation
5. Seagate Technology LLC
6. Transcend Information Inc.
7. ADATA Technology Co. Ltd
8. Kingston Technology Corporation
9. SK Hynix Inc.
10. Teclast Electronics Co. Limited.

Recent Developments

• January 2024 - The largest consumer electronics brand in India, Samsung, unveiled the SSD 990 EVO today, the newest model in the company's solid-state drive collection. The SSD 990 EVO offers strong speed with improved energy efficiency, making it ideal for regular computer tasks, including gaming, work, and photo/video editing. Since NVMe SSDs can read and write sequential data at up to 5,000 MB/s and 4,200 MB/s, respectively, a wide variety of customers should find them to be the perfect choice.
• May 2024 - Huawei revealed a new high-capacity solid-state drive (SSD), an AI-specific upgrade to the company's data management engine (DME), and the OceanStor A800. This AI-specific storage device is a component of the OceanStor family of data storage solutions. Both solutions were unveiled at the company's yearly Innovative Data Infrastructure forum, which is now taking place in Berlin.

Segmentation

1. By Type:
   1. External
   2. Internal
2. By SSD Interface
   1. SATA
   2. SAS
   3. PCIe
3. By Technology
   1. SLC
   2. MLC
   3. TLC
   4. Others
4. By Form Factor
   1. 1.8”/2.5”
   2. 3.5”
   3. M.2
   4. U.2
   5. FHHL/ HHHL
5. By Storage Capacity
   1. Under 500 GB
   2. 500 GB - 1 TB
   3. 1T B - 2 TB
   4. Above 2 TB
6. By Application
   1. Enterprise
   2. Client
   3. Automotive and Industrial