Solid State Drive (SSD) Market size to grow by CAGR 23.87% from 2022 to 2027, Increasing emergence of 3D NAND to be a major market trend - Technavio

NEW YORK, April 10, 2023 /PRNewswire/ -- Technavio has been monitoring the solid-state drive (SSD) market, and it is expected to grow by USD 74,553.83 million from 2022 to 2027. The market will progress at a CAGR of 23.87% during the forecast period. This report aids business leaders with an up-to-date analysis that includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. The increasing emergence of 3D NAND is an emerging trend in the SSD market. The architecture of NAND flash devices is one-dimensional. Increasing the density allows more data to be stored, thus expanding the capacity of SSD. Moreover, 3D NAND drives are gaining significant traction in IoT devices and autonomous vehicles. Hence, the development of storage devices has increased significantly. For instance, in July 2018, Toshiba Memory developed a prototype sample of the 96-layer BiCS FLASH, its proprietary 3D flash memory. Additionally, due to the high growth potential of the 3D NAND market, leading vendors are increasingly investing in the development of 3D NAND fab facilities. Download the Latest Sample Report!

Solid State Drive (SSD) Market 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our solid-state drive (SSD) market report covers the following areas:

• Solid State Drive (SSD) Market size
• Solid State Drive (SSD) Market trends
• Solid State Drive (SSD) Market industry analysis
• Solid State Drive (SSD) Market five forces analysis
• Solid State Drive (SSD) Market competitive landscape

Solid State Drive (SSD) Market 2023-2027: Major Driver

The growing enterprise data storage requirements will drive the growth of the SSD market during the forecast period. Growing Internet penetration worldwide for both professional and personal uses has led to the growth of digital data, which has increased the demand for efficient storage infrastructure for storing and processing data. Various vendors have created storage infrastructure products that meet the growing demands of different types of businesses across multiple verticals, including banking, financial services and insurance (BFSI), healthcare, and manufacturing. Due to the growing data generation among small and medium-sized enterprises (SMEs), the adoption of SSDs is increasing. Hence, the enterprise storage market will gain high revenue through the adoption of arrays that aid in achieving business continuity. Such factors are expected to drive market growth for solid-state drivers.

Solid State Drive (SSD) Market 2023-2027: Segmentation

• Type 
• TLC
• MLC
• SLC
• End-user 
• Laptops
• PCs
• Geography 
• APAC
• North America
• Europe
• South America
• Middle East And Africa

The market share growth by the TLC segment will be significant during the forecast period. TLC is the most affordable form of NAND flash and only 3 bits can be stored per cell, It is ideal for consumer use, including accessories such as memory cards. TLC has better error correction requirements and is the cheapest NAND flash memory available in the market. Additionally, its read/write life cycles are considerably shorter than those of SLCs and MLCs, which makes it ideal for applications that do not require several write cycles. Hence, the TLC segment is expected to grow during the forecast period due to features such as better error correction requirements and low costs. 

Key Challenges

This study identifies poor latency and endurance as one of the prime reasons challenging the solid-state drive (SSD) market growth. Write latency can be masked with write-back caching, but read latency cannot be hidden. SSDs typically have hundreds of microseconds of latency. In some cases, the delay can exceed tens of milliseconds or even seconds when access is interrupted by an internal task of the device. The situation is further complicated due to the lack of coordination between different devices, which results in unpredictable IO performance due to uncoordinated internal tasks. Another major roadblock is endurance due to its limited write cycles when compared with hard disks. Therefore, factors such as endurance are expected to hinder the growth of the market during the forecast period.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Solid State Drive (SSD) Market 2023-2027: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. We provide a detailed analysis of around 25 vendors operating in the solid state drive (SSD) market, including ADATA Technology Co. Ltd., Corsair Gaming Inc., DataDirect Networks Inc., Intel Corp., International Business Machines Corp., Kingston Technology Co. Inc., Kioxia Corp., LITE ON Technology Corp., Maxta Inc., Micron Technology Inc., NetApp Inc., Pure Storage Inc., Samsung Electronics Co. Ltd., Seagate Technology Holdings Public Ltd. Co, Simms International plc, SK HYNIX Inc., Sony Group Corp., Toshiba Corp., Transcend Information Inc., and Western Digital Corp. Backed with competitive intelligence and benchmarking, our research reports on the solid state drive (SSD) market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Vendor Offerings

• NetApp Inc. - The company offers a wide range of solid-state drives such as EF600, EF300, and EF570, among others.
• Kingston Technology Co. Inc. - The company offers a wide range of solid-state drives such as A2000 NVMe Pcle SSD and A400 SATA SSD, among others.
• Micron Technology Inc. - The company offers a wide range of SSDs such as 3400 SSD with NVMe, 5210 SATA SSD, and 9300 SSD With NVMe, among others.
• For more insights on vendors and their offerings - Request a sample report!

Solid State Drive (SSD) Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist solid-state drive (SSD) market growth during the next five years
• Estimation of the solid-state drive (SSD) market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the solid-state drive (SSD) market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of solid-state drive (SSD) market vendors

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Table Of Contents :

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global solid state drive (SSD) market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global solid state drive (SSD) market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 TLC - Market size and forecast 2022-2027
• Exhibit 34: Chart on TLC - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on TLC - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on TLC - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on TLC - Year-over-year growth 2022-2027 (%)

• 6.4 MLC - Market size and forecast 2022-2027
• Exhibit 38: Chart on MLC - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on MLC - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on MLC - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on MLC - Year-over-year growth 2022-2027 (%)

• 6.5 SLC - Market size and forecast 2022-2027
• Exhibit 42: Chart on SLC - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on SLC - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on SLC - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on SLC - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Type 
• Exhibit 46: Market opportunity by Type ($ million)
• Exhibit 47: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 48: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 49: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 50: Chart on Comparison by End-user
• Exhibit 51: Data Table on Comparison by End-user

• 7.3 Laptops - Market size and forecast 2022-2027
• Exhibit 52: Chart on Laptops - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Laptops - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Laptops - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Laptops - Year-over-year growth 2022-2027 (%)

• 7.4 PCs - Market size and forecast 2022-2027
• Exhibit 56: Chart on PCs - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on PCs - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on PCs - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on PCs - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by End-user 
• Exhibit 60: Market opportunity by End-user ($ million)
• Exhibit 61: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 67: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 95: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 South Korea - Market size and forecast 2022-2027
• Exhibit 99: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.12 Taiwan - Market size and forecast 2022-2027
• Exhibit 103: Chart on Taiwan - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Taiwan - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Taiwan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Taiwan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 ADATA Technology Co. Ltd. 
• Exhibit 115: ADATA Technology Co. Ltd. - Overview
• Exhibit 116: ADATA Technology Co. Ltd. - Product / Service
• Exhibit 117: ADATA Technology Co. Ltd. - Key offerings

• 12.4 DataDirect Networks Inc. 
• Exhibit 118: DataDirect Networks Inc. - Overview
• Exhibit 119: DataDirect Networks Inc. - Product / Service
• Exhibit 120: DataDirect Networks Inc. - Key offerings

• 12.5 Intel Corp. 
• Exhibit 121: Intel Corp. - Overview
• Exhibit 122: Intel Corp. - Business segments
• Exhibit 123: Intel Corp. - Key news
• Exhibit 124: Intel Corp. - Key offerings
• Exhibit 125: Intel Corp. - Segment focus

• 12.6 International Business Machines Corp.
• Exhibit 126: International Business Machines Corp. - Overview
• Exhibit 127: International Business Machines Corp. - Business segments
• Exhibit 128: International Business Machines Corp. - Key offerings
• Exhibit 129: International Business Machines Corp. - Segment focus

• 12.7 Kingston Technology Co. Inc. 
• Exhibit 130: Kingston Technology Co. Inc. - Overview
• Exhibit 131: Kingston Technology Co. Inc. - Product / Service
• Exhibit 132: Kingston Technology Co. Inc. - Key offerings

• 12.8 LITE ON Technology Corp. 
• Exhibit 133: LITE ON Technology Corp. - Overview
• Exhibit 134: LITE ON Technology Corp. - Business segments
• Exhibit 135: LITE ON Technology Corp. - Key offerings
• Exhibit 136: LITE ON Technology Corp. - Segment focus

• 12.9 Micron Technology Inc. 
• Exhibit 137: Micron Technology Inc. - Overview
• Exhibit 138: Micron Technology Inc. - Business segments
• Exhibit 139: Micron Technology Inc. - Key offerings
• Exhibit 140: Micron Technology Inc. - Segment focus

• 12.10 NetApp Inc. 
• Exhibit 141: NetApp Inc. - Overview
• Exhibit 142: NetApp Inc. - Business segments
• Exhibit 143: NetApp Inc. - Key news
• Exhibit 144: NetApp Inc. - Key offerings
• Exhibit 145: NetApp Inc. - Segment focus

• 12.11 Samsung Electronics Co. Ltd. 
• Exhibit 146: Samsung Electronics Co. Ltd. - Overview
• Exhibit 147: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 148: Samsung Electronics Co. Ltd. - Key news
• Exhibit 149: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 150: Samsung Electronics Co. Ltd. - Segment focus

• 12.12 Seagate Technology Holdings Public Ltd. Co
• Exhibit 151: Seagate Technology Holdings Public Ltd. Co - Overview
• Exhibit 152: Seagate Technology Holdings Public Ltd. Co - Product / Service
• Exhibit 153: Seagate Technology Holdings Public Ltd. Co - Key news
• Exhibit 154: Seagate Technology Holdings Public Ltd. Co - Key offerings

• 12.13 SK HYNIX Inc. 
• Exhibit 155: SK HYNIX Inc. - Overview
• Exhibit 156: SK HYNIX Inc. - Product / Service
• Exhibit 157: SK HYNIX Inc. - Key offerings

• 12.14 Sony Group Corp. 
• Exhibit 158: Sony Group Corp. - Overview
• Exhibit 159: Sony Group Corp. - Business segments
• Exhibit 160: Sony Group Corp. - Key news
• Exhibit 161: Sony Group Corp. - Key offerings
• Exhibit 162: Sony Group Corp. - Segment focus

• 12.15 Toshiba Corp. 
• Exhibit 163: Toshiba Corp. - Overview
• Exhibit 164: Toshiba Corp. - Business segments
• Exhibit 165: Toshiba Corp. - Key offerings
• Exhibit 166: Toshiba Corp. - Segment focus

• 12.16 Transcend Information Inc. 
• Exhibit 167: Transcend Information Inc. - Overview
• Exhibit 168: Transcend Information Inc. - Product / Service
• Exhibit 169: Transcend Information Inc. - Key news
• Exhibit 170: Transcend Information Inc. - Key offerings

• 12.17 Western Digital Corp. 
• Exhibit 171: Western Digital Corp. - Overview
• Exhibit 172: Western Digital Corp. - Business segments
• Exhibit 173: Western Digital Corp. - Key offerings
• Exhibit 174: Western Digital Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 175: Inclusions checklist
• Exhibit 176: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 177: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 178: Research methodology
• Exhibit 179: Validation techniques employed for market sizing
• Exhibit 180: Information sources

• 13.5 List of abbreviations 
• Exhibit 181: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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