Solid State Drives Market Worth 25.30 Billion USD by 2022

Mar 03, 2016, 06:30 ET from MarketsandMarkets

PUNE, India, March 3, 2016 /PRNewswire/ --

According to the new market research report "Solid State Drives Market by Capacity, Interface (SATA, SAS, PCIe), End User (Enterprise, Client), Application (Data Centers, Desktop PCs, Notebooks/Tablets, Entertainment Devices, Video Storage), and Region - Global Trend and Forecast to 2022", published by MarketsandMarkets, the market is expected to reach USD 25.30 Billion by 2022, at a CAGR of 9.5% between 2016 and 2022.

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Factors such as proliferation of cloud computing, advantages of SSDs over HDDs, increase in the number of data centers, and rising big data applications are driving the growth of the solid state drives market.

"SATA interface is expected to lead the solid state drives market during the forecast period" 

SATA is expected to account for the highest share of the solid state drives market during the forecast period. The old desktop PCs support only the SATA interface for upgrading to SSDs from HDDs, which is expected to drive the growth of the market for Solid State Drives Market with SATA interface. Further, lower pricing of SATA than that of SAS and PCIe interfaces is also contributing to the growth of this market.

"The market for SSDs with PCIe interface is expected to grow at the highest CAGR between 2016 and 2022" 

The market for SSDs with PCIe interface is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the advantages of PCIe, which include high speed, enhanced performance scaling, and detailed error detection & reporting. Thus, the demand for SSDs with PCIe interface is expected to increase from the client as well as enterprise end users.

"APAC is expected to witness a rapid growth during the forecast period" 

The SSDs market in APAC is expected to grow at the highest CAGR between 2016 and 2022. This growth can be attributed to the high IT infrastructure expenditures in countries such as China, South Korea, India, and Taiwan. In addition, the expanding customer base of companies in APAC that provide SSDs and growth in the consumer electronics (such as notebooks/laptops, tablets, and desktop PCs) market are contributing to the growth of the SSDs market in this region.

The key players involved in the development of solid state drives include Intel Corp. (U.S.), Micron Technology, Inc. (U.S.), Samsung Electronics (South Korea), SanDisk Corp. (U.S.), Toshiba Corp. (Japan), Lite-On Technology Corp. (Taiwan), Microsemi Corp. (U.S.), Seagate Technology plc (Ireland.), Hitachi Global Storage Technology (HGST) Inc. (U.S.), and Kingston Technology Corp. (U.S.).

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This research report categorizes the global solid state drives market based on capacity, interface, end user, application, and region. It describes the drivers, restraints, opportunities, and challenges with respect to the solid state drives market. The Porter's five forces analysis has also been included in the report with a description of each of its forces and their respective impact on the solid state drives market.

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