Solid State Drive Market Analysis, Growth, Trends, and Forecasts 2018–2023

The overall Solid State Drive Market (SSD Market) is expected to increase from USD 26.47 Billion in 2017 to USD 60.22 Billion by 2023, at a CAGR of 14.68% between 2017 and 2023. Some of the key factors driving this market are increasing penetration of high-end cloud computing, growing adoption of SSDs in data centers, and advantages of SSDs over HDDs.

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The market for SATA interface–based solid state drive accounted for the largest market in 2016. The large market of SATA interface solid state drive is mainly attributed to low-cost interface design. SATA interface also offers lower cable size and cost, faster data transfer through higher signaling rates, and more efficient transfer through an I/O queuing protocol, lower cable size and cost, faster data transfer through higher signaling rates, and more efficient transfer through an I/O queuing protocol.

The market for half height, half length (HHHL); or; even bigger form factor; full height, half length (FHHL) is expected to grow at the highest rate during the forecast period. These form factors offer  high performance as PCIe bus (with direct contact) offers a very low latency.

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The solid state drive market for TLC Planar held the largest market in 2016. With the shift in the usage of technology from SLC to MLC and from MLC to TLC, the price per GB of SSDs becomes cheaper. Therefore, TLC offers the cheapest solutions among all other technologies, along with high storage density. This leads to the increasing adoption of TLC SSDs in consumer applications such as notebooks, tablets, and others.

The solid state drive market in automotive is expected to grow at the highest rate during the forecast period. The increasing demand for automotive infotainment systems and next-generation connected cars is expected to boost the growth of the solid state drive market, as connected car applications require high-performance graphics, communications, and data storage, and SSDs meet all of these requirements. SSD is a flash storage solution that enables reliable, high-performance storage in a wide range of in-vehicle applications such as 3D mapping and advanced augmented reality in navigation systems, entertainment systems, intuitive driver-assist technology, and data event recorders.

In terms of geographies, North America acquired the largest market for solid state drive in 2016. Leading companies in North America are providing most developed SSDs as advanced storage solutions to various industries. Enterprises in America are increasing their spending on IT infrastructure to gain a competitive edge and increase their business productivity. Therefore, there has been a strong push for using SSDs in IT infrastructure devices to save time, speed up data transfer, and achieve high-performance level. In addition, the replacement rate of traditional hard disk drives with SSDs is high in North America.

The inconsistency in low-rate latency offered by SSDs and the high cost of SSDs are the restraining factors for the growth of the solid state drive market.

Samsung (South Korea) is one of the leading companies in the solid state drive market, followed by Western Digital (US), Intel (US), Toshiba (US), and Micron (US) with a large contribution to the parent market share and high financial power, providing a broad product portfolio in the solid state drive market with a strong technical expertise. Samsung (South Korea), for instance, offers an innovative technology V-NAND that improves the latency in its SSD products. Also, the Charge Trap Flash (CTF) technology prevents data corruption caused by cell-to-cell interference and also leads to improved speed, power efficiency, and endurance. Western Digital (US) offers a wide range of products in the solid state drive market comprising internal SSD storage and portable SSD storage.

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