Solid State Drive Market
Growth Factors of Solid State Drive Market
The Solid State Drive market size was valued at USD 14.85 billion in 2023, and the market is now projected to grow from USD 17.79 billion in 2024 to USD 82.22 billion by 2032, showing a CAGR of 21.1% during the forecast period of 2024-2032.
Increased demand for solid state drives during the COVID-19 pandemic was caused by the influx of remote work as well home users opting to buy more of these devices for personal use. However, there were disruptions in the supply chain and manufacturing process in Solid State Drive Market growth which led to decrease in production as well as availability, making them prone to shortages and price fluctuations.
The Solid State Drive Market share will develop because of the constant requirement for improved storage efficiency as well as storage dependability over various computing applications. With the evolution and multiplication of computing tasks from gaming to content creation, data analytics and cloud computing growing need arises for data warehousing devices providing rapid access to information while also minimizing delays alongside increasing their longevity.
Due to their improved speed and efficiency compared to customary SATA SSDs, the use of PCIe NVMe SSDs is on the rise. They are made possible through advance PCIe interface and NVMe protocol; consequently, they transfer data faster and take a lesser time to respond, which makes them suitable for modern computing tasks like gaming, content creation or data analysis.
Comprehensive Solid State Drive Market
The Solid State Drive market is developing at a rampant rate due to its market segmentation. These segmentations are methodically segregated by End-user Analysis, by Storage Analysis, by Interface Type Analysis. The End-user Analysis include enterprises, individuals, and others. The Storage Analysis such as 500GB – 1TB, under 500 GB, 1TB – 2TB, and above 2TB. The Interface Type Analysis includes Serial Attached SCSI (SAS), Serial ATA (SATA), and others.
The North America area lead the Solid State Drive market with the resource of estimate a market size of USD 5.73 billion in 2023 due to the robust tech industry, innovation leadership, and strong consumer demand.
The top players in the market play a crucial role in the Information & Communication Technology industry assuring development and setting market standards. These players such as, Western Digital Corporation (U.S.), Intel Corporation (U.S.), Samsung (South Korea), SK Hynix Inc. (South Korea), Micron Technology, Inc. (U.S.), Kingston Technology (U.S.), Seagate Technology LLC (U.S.) these market players contribute a competitive landscape.
In April 2024, The Micron 4150AT SSD is the first quad-port SSD for software-defined intelligent vehicles in the world, brought into existence by Micron Technology, Inc. It utilizes SR-IOV (Single Root Input/Output Virtualization), PCIe Gen 4 and rugged automotive design to maintain data center-level flexibility and power support.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 21.1% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Interface Type
- Serial ATA (SATA)
- Serial Attached SCSI (SAS)
- Others (Non-volatile Memory Express (NVMEs))
By Storage
- Under 500GB
- 500GB – 1TB
- 1TB – 2TB
- Above 2TB
By End-user
- Individuals
- Enterprises
- Others (Healthcare)
By Region
- North America (By Interface Type, Storage, End-user, and Country)
- U.S.
- Canada
- Mexico
- Brazil
- Argentina
- Rest of South America
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
- Turkey
- Israel
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
- China
- Japan
- India
- South Korea
- ASEAN
- Oceania
- Rest of Asia Pacific
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of Generative AI
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Solid State Drive Key Players Market Share/Ranking, 2023
- 5. Global Solid State Drive Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Interface Type (USD)
- 5.2.1. Serial ATA (SATA)
- 5.2.2. Serial Attached SCSI (SAS)
- 5.2.3. Others (Non-volatile Memory Express (NVMEs), etc.)
- 5.3. By Storage (USD)
- 5.3.1. Under 500 GB
- 5.3.2. 500GB to 1TB
- 5.3.3. 1TB – 2TB
- 5.3.4. Above 2TB
- 5.4. By End-user (USD)
- 5.4.1. Individuals
- 5.4.2. Enterprises
- 5.4.3. Others (Healthcare, etc.)
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. South America
- 5.5.3. Europe
- 5.5.4. Middle East and Africa
- 5.5.5. Asia Pacific
- 6. North America Solid State Drive Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Interface Type (USD)
- 6.2.1. Serial ATA (SATA)
- 6.2.2. Serial Attached SCSI (SAS)
- 6.2.3. Others (Non-volatile Memory Express (NVMEs), etc.)
- 6.3. By Storage (USD)
- 6.3.1. Under 500 GB
- 6.3.2. 500GB to 1TB
- 6.3.3. 1TB – 2TB
- 6.3.4. Above 2TB
- 6.4. By End-user (USD)
- 6.4.1. Individuals
- 6.4.2. Enterprises
- 6.4.3. Others (Healthcare, etc.)
- 6.5. By Country (USD)
- 6.5.1. United States
- 6.5.2. Canada
- 6.5.3. Mexico
- 7. South America Solid State Drive Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Interface Type (USD)
- 7.2.1. Serial ATA (SATA)
- 7.2.2. Serial Attached SCSI (SAS)
- 7.2.3. Others (Non-volatile Memory Express (NVMEs), etc.)
- 7.3. By Storage (USD)
- 7.3.1. Under 500 GB
- 7.3.2. 500GB to 1TB
- 7.3.3. 1TB – 2TB
- 7.3.4. Above 2TB
- 7.4. By End-user (USD)
- 7.4.1. Individuals
- 7.4.2. Enterprises
- 7.4.3. Others (Healthcare, etc.)
- 7.5. By Country (USD)
- 7.5.1. Brazil
- 7.5.2. Argentina
- 7.5.3. Rest of South America
- 8. Europe Solid State Drive Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Interface Type (USD)
- 8.2.1. Serial ATA (SATA)
- 8.2.2. Serial Attached SCSI (SAS)
- 8.2.3. Others (Non-volatile Memory Express (NVMEs), etc.)
- 8.3. By Storage (USD)
- 8.3.1. Under 500 GB
- 8.3.2. 500GB to 1TB
- 8.3.3. 1TB – 2TB
- 8.3.4. Above 2TB
- 8.4. By End-user (USD)
- 8.4.1. Individuals
- 8.4.2. Enterprises
- 8.4.3. Others (Healthcare, etc.)
- 8.5. By Country (USD)
- 8.5.1. United Kingdom
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Russia
- 8.5.7. Benelux
- 8.5.8. Nordics
- 8.5.9. Rest of Europe
- 9. Middle East and Africa Solid State Drive Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. By Interface Type (USD)
- 9.1.1. Serial ATA (SATA)
- 9.1.2. Serial Attached SCSI (SAS)
- 9.1.3. Others (Non-volatile Memory Express (NVMEs), etc.)
- 9.2. By Storage (USD)
- 9.2.1. Under 500 GB
- 9.2.2. 500GB to 1TB
- 9.2.3. 1TB – 2TB
- 9.2.4. Above 2TB
- 9.3. By End-user (USD)
- 9.3.1. Individuals
- 9.3.2. Enterprises
- 9.3.3. Others (Healthcare, etc.)
- 9.4. By Country (USD)
- 9.4.1. Turkey
- 9.4.2. Israel
- 9.4.3. GCC
- 9.4.4. North Africa
- 9.4.5. South Africa
- 9.4.6. Rest of Middle East and Africa
- 10. Asia Pacific Solid State Drive Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Interface Type (USD)
- 10.2.1. Serial ATA (SATA)
- 10.2.2. Serial Attached SCSI (SAS)
- 10.2.3. Others (Non-volatile Memory Express (NVMEs), etc.)
- 10.3. By Storage (USD)
- 10.3.1. Under 500 GB
- 10.3.2. 500GB to 1TB
- 10.3.3. 1TB – 2TB
- 10.3.4. Above 2TB
- 10.4. By End-user (USD)
- 10.4.1. Individuals
- 10.4.2. Enterprises
- 10.4.3. Others (Healthcare, etc.)
- 10.5. By Country (USD)
- 10.5.1. China
- 10.5.2. India
- 10.5.3. Japan
- 10.5.4. South Korea
- 10.5.5. ASEAN
- 10.5.6. Oceania
- 10.5.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Samsung
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Western Digital Corporation
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Intel Corporation
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Micron Technology, Inc.
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. SK Hynix Inc.
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Seagate Technology LLC
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Kingston Technology
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. NetApp, Inc.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. ADATA Technology Co., Ltd.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. KIOXIA Corporation
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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