Solid state drive (SSD) is described as the storage device consisting of nonvolatile methods of storing media and information with the help of circuit assemblies integrated in the device infrastructure itself. These devices consist of two major components for its functioning, namely flash controller as well as NAND flash memory chips which are optimized and integrated to provide high levels of functionality in performance. The device infrastructure is defined as fixed components that unlike HDD do not require any consistent movements to ensure that the information is being written on or stored on the storage device.
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The main factors boosting the Solid State Drive Market are:
- Rapid increase in the demand for SSD from data centers: One of the most widely requested areas of SSDs are data centers. This is due to the requirement of these data centers to reduce their operating costs, while also optimizing other factors such as its performance in comparison to other storage media. These drives offer better storage functionalities, efficiency and integration of information in sensitive storage applications.
- Various benefits and performing advantages: Another significant factor impacting the market growth of SSDs is the enhanced performance characteristics of these storage devices in comparison to other conventional storage forms. Few of the benefits associated with these drives is the low noise generation, better storage operations, low weight of storage device and significantly low amount of energy consumption as compared to other forms. The combination of these benefits is resulting in a steady rise of market growth for the forecast period of 2019-2026.
The market is segmented on the basis of form factor as 1.8”/2.5”, 3.5”, M.2/mSATA, U.2 and FHHL & HHHL. Interface segment has been sub-segmented into SATA, SAS and PCIe. Storage capacity segment has been categorized into less than 250GB, 251-500GB, 501GB-1TB and more than 1TB. Technology has been categorized as TLC 3D, TLC planar, MLC 3D, MLC planar and SLC. End-User has been segmented into enterprise, client, industrial and automotive.
Some of the Solid State Drive Market developments are as follows:
- In October 2019, Micron Technology, Inc. announced the availability of the company’s latest enterprise and consumer based solid state drives (SSDs). The SSDs have been introduced as “Micron 7300 Series of NVME SSDs” designed for various data center applications such as virtualized, I/O-sensitive workloads and high throughput environments and “Micron 5300 Series of SATA SSDs” developed for enterprise applications, it is an extension of high performing SATA portfolio of the company already present with the company.
- In August 2019, SK HYNIX INC. announced the launch of “Gold S31” solid state drive, company’s latest range of consumer SSDs based on their core technology and is a part of “SuperCore” product range. The drive has been designed for implementing significantly high reliability, performance quality and is also equipped with a five year warranty on its functioning. The drive will initially only be available through Amazon U.S. although expanded regions will be targeted in the forthcoming period
According to Data Bridge Market Research, Global Solid State Drive Market is expected to reach USD 78.77 billion by 2026, expanding at a healthy growth rate during the forecast period of 2019 to 2026
Some of the major players operating in the market are SAMSUNG; Intel Corporation; Western Digital Corporation; Micron Technology, Inc.; Toshiba Memory Corporation; Seagate Technology LLC; LITE-ON Technology Corporation; SK hynix INC.; Kingston Technology Europe Co LLP und Kingston Digital Europe Co LLP; Best IT World (India) Pvt. Ltd.; Viking Technology; ADATA Technology Co., Ltd.; BiTMICRO Networks, Inc.; Foremay, Inc.; Crossbar; Broadcom; Nimbus Data and Transcend Information, Inc. among others.
Utilization of SSDs has recently witnessed its utilization from a number of consumer electronics applications such as laptops, notebooks, personal computers and various others systems. The usage of SSDs over conventional storage devices such as HDDs has been caused by an enhancement of performance and various other benefits such as less noise, weight and energy efficiency in its functioning. All of these factors are significantly improving the demand rates for SSDs in the forthcoming period and this demand is also resulting in the manufacturers developing these storage devices in a specific form factor to induce better levels of integration and compatibility with the different devices.
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