The overall solid state drive 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. The key opportunities for this market are growing adoption of SSDs in tablets and notebooks, and relational analytics in smart SSDs. Some of the key factors driving this market are the increasing penetration of high-end cloud computing, growing adoption of SSDs in data centers, and advantages of SSDs over HDDs
Key players in the solid state drive market include Samsung (South Korea), Intel (US), Western Digital (US), Micron (US), and Toshiba (Japan). Most of the leading companies have followed organic growth strategies of product launches. This market is evolving worldwide with the increasing competition to offer disruptive products with increasing functionality. These leading strategies in this market such as technological investments and product launches help companies to grow and remain technically competitive in the market.
Leading players in the solid state drive market:
Samsung Electronics Co., Ltd. (South Korea) has been at the top position because of its wide contribution to the parent market share and high financial power. The company accounted for a share of around 38.87% of the solid state drive market in 2016. The company has a strong technical expertise and a broad product portfolio in the solid state drive market. The company is one of the leading global brands in the storage industry and has a wide geographic reach through various distribution networks. The company’s innovative offering, V-NAND, improves the latency in its SSD products. 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. For instance, in August 2016, the company collaborated with VMware (US) to develop a fully operational prototype of a VMware Cloud Foundation-based software-defined data center (SDDC) rack using NVMe SSDs.
Western Digital Corporation (US) is at the second position; it accounted for about 16% of the total share of the solid state drive market in 2016. The company has a strong financial power and shows a significant increase in investments dedicated toward the development of SSD. The company offers a wide range of products in the solid state drive market comprising internal SSD storage and portable SSD storage. Along with the inbuilt basic features and functionalities, the company focuses on product and technology innovation. For instance, in May 2017, the company was the first to introduce SSD 64-layer 3D NAND technology for clients. This technology comprises features such as SATA interface with industry-leading 1.75M hours MTTF, accelerated performance for gaming and graphics, low power consumption and high performance, endurance and capacities, and others. In December 2016, Western Digital unveiled the advanced storage platform technology for optimizing storage performance, efficiency, and cost in disaggregated cloud-scale data center infrastructure.
Solid State Drive (SSD) Market by Form Factor (2.5”, 3.5”, M.2, U.2/SFF 8639, FHHL/HHHL), Interface (SATA, SAS, PCIe), Technology (SLC, MLC, TLC), End-user (Enterprise, Client, Industrial, Automotive), and Geography - Global Forecast to 2023
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