SOLID STATE DRIVE (SSD) MARKET ANALYSIS

Solid State Drive (SSD) MarketSize and Trends

The global solid state drive (SSD) market size is valued at US$ 47.6 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 16% from 2022 to 2030. The market is mainly driven by the rising demand for faster & reliable data storage solutions, advancements in data center infrastructure, and increasing investment in R&D. The rising need for file back-up & archiving in various industries and the introduction of high-end cloud computing interfaces are also contributing to its growth. Furthermore, the growing prevalence of cyber-attacks & other data breaches are driving the demand for SSDs across various organizations.

Global Solid State Drive (SSD) Market Trends:

Emerging new device categories and architectures is a major trend

The emergence of novel device categories as well as architectures such as computational storage in Ethernet SSDs is growing rapidly. This in turn is likely to overcome tailbacks in the system. For instance, computational storage in future will be able to offload post-processing and cut down data movement for enabling improvements in performance of application and efficiency of infrastructure. Thus, this trend is likely to grow in the global solid state drive (SSD) market over the forecast period.

Vertical stacking of storage cells is a recent trend

Several companies are adopting vertical stacking of storage cells, such as Samsung. The company has adopted this module in its 850 series, as it leveraged the ground-breaking advancement for expanding the offerings of high-capacity SSD of the company. This has established 3D V-NAND, as the standard for consumer SSDs of Samsung. Thus, this trend is likely to boost demand for solid state drive (SSD) market in the forecast future.