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The solid-state drive (SSD) market was valued at USD 34.86 billion in 2020, and it is expected to witness a CAGR of 14.94% during the forecast period (2021 - 2026)

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to reach USD 80. 34 billion by 2026. The data storage demand is on a massive rise over the past few years, which is expected to witness an increasing trend over the forecast period as well. In order to fulfill this enormous demand for data storage, solid-state drives (SSDs) and hard disk drives (HDD) have emerged as the two leading storage solutions, each having their benefits.

New York, June 01, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Solid State Drive (SSD) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" -

- SSDs are similar to HDD, in terms of being non-volatile storage mediums. However, instead of spinning disks, the data is stored in a series of interconnected microchips. This makes access to memory much faster and causes the boot times to reduce drastically in SSDs. These factors are increasing the adoption of SSD in the computing process.?
- Additionally, SSDs are drawing users’ attention worldwide due to its numerous advantages, such as fast read-write speed, no noise, lower consumption, portability, etc. It can offer faster, more energy-efficient, and more secure data storage experience. Moreover, the game loading speed is faster, and the response-ability and seamless multi-task processing capacity are stronger.?
- Furthermore, higher SSD capacities at sensitive price points are expected to result in higher attach rates over time, in a new notebook and desktop PCs, and detachable tablets. Many enterprise applications need high reliability, constant uptime, high-performance storage devices, power efficiency, and high throughput. SSDs address all these requirements in an enterprise.?
- The demand for SSD has been rapidly increasing, along with the growing number of cloud platforms, from the traditional corporate private and new public clouds to personal clouds in homes. The commonly used SSD interfaces include Serial ATA (SATA), PCI Express (PCIe), and Serial Attached SCSI (SAS). Enhanced features, such as high speed and quick data access, boost the adoption of PCIe SSDs for cloud computing. ?
- However, the outbreak of COVID-19 has a significant effect on the market. The raw materials supply is affected, hence the value chain is disrupted, causing an inflationary risk on products.

Key Market Trends
Rising Demand from Enterprise Segment to Augment the Market Growth

- SSDs in enterprises store data persistently or cache data in non-volatile semiconductor memory temporarily. It is intended for use in servers, storage systems, and direct-attached storage (DAS) devices. These SSDs generally use NAND flash memory, deliver higher performance, and consume less power than spinning HDDs. However, they usually come at a premium price.?
- Enterprise SSDs merits over a client SSD include protection of DRAM-stored data in the event of a power loss, higher performance, stronger error correction code (ECC), consistent and persistent quality of service, and a lengthier warranty.?
- The earliest SSDs for enterprises used SLC (single-level cell) NAND flash, which stores one bit per cell and offers the highest level of endurance and performance, with a typical lifecycle of 100,000 writes per cell. ?
- The improvements to NAND flash technology have enabled the enterprise SSD manufacturers to use lower-endurance NAND flash options, such as a multi-level cell (MLC), triple-level cell (TLC), and 3D NAND. The advantages of the lower-endurance forms of NAND flash include lower cost and higher capacity, which have increased market growth.?
- Small and medium enterprises usually use MLC SSD, which contains not only a longer life span and better performance than TLC SSD, but it also has a relatively lower price than SLC SSD. Users of TLC SSD, owing to its higher capacity and lower cost, are general customers in the market. However, when compared with SLC and MLC SSD, TLC SSD has more extended access latencies (i.e., lower performance) and a relatively smaller number of write erase cycles in a specific block (i.e., shorter life span).

North America Region Expected to Hold Significant Share

- Due to the growing adoption of advanced technologies, North America is expected to be a prominent market, such as Cloud, IoT, Big Data, and High-end cloud computing. The growing need for storage, owing to the high adoption of such technologies, drives the market’s growth in the region.?
- The region has a strong foothold of vendors, which contributes to the growth of the market. Some of them include Intel Corporation, Micron Technology Inc., and Western Digital Corporation, among others. Additionally, the manufacturers in the region are focusing on innovation and product differentiation to increase the penetration of their products, increase the revenues, and quickening the demand for the product in the region. ?
- For instance, in April 2019, Micron Technology Inc. announced its new series of SSDs featuring the NVM Express (NVMe) protocol, bringing storage performance at higher capacities to the cloud and enterprise computing markets. The Micron 9300 series of NVMe SSDs help the companies, with data-intensive applications, to access and process data faster, thus, helping to reduce the response time.?
- The presence of a well-established infrastructure that supports the faster implementation of advanced technologies has made this region a key market for the growth of the market studied. Enterprises in the region are increasing their spending on IT infrastructure to gain a competitive edge and grow their business productivity. Therefore, there has been a need to use SSDs in IT infrastructure devices to save time, speed up data transfer, and achieve a high-performance.
- Enterprises deploying an advanced cloud infrastructure in the region need systems that can store, retrieve, process, and quickly analyze massive amounts of business-critical data. Driven by this need, many companies in the United States are transitioning primary storage from SATA-based SSDs to NVMe.?
- According to Seagate Technology PLC, an American data storage company, the cloud storage is anticipated to grow at a steady rate in the United States, due to the desire of reducing latency by locating data closer to the consumer and using the regulatory and corporate mandates by demanding data to be housed locally, within the different regions. Thus, the country is expected to witness significant demand for SSD storage devices.?

Competitive Landscape
The solid-state drive (SSD) market is competitive owing to the major vendors, such as Intel, Micron Technology, Samsung Electronics, and Western Digital Corporation. As the entry barriers in the market are high, the entry of new players is difficult. The existing vendors in the market are investing heavily in the R&D of new and innovative products. Some of the recent developments in the market are:
- In February 2020 - Kioxia Corporation, a vendor in the memory solutions, announced that its lineup of PCIe 4.0 NVMe enterprise and data center SSDs are now being shipped to the customers. ?
- In December 2019 - Intel Corporation launched its midrange all-flash storage AS5000G5-F series with dual-port Optane SSD, by partnering with Inspur. The AS5000G5-F series provides up to 8 million IOPS and 0.1ms latency, making it one of the industry’s highest performance midrange storage platforms.?

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