NA SSD Caching Market Size

North America SSD Caching Market Analysis

The North America SSD Caching Market is expected to grow at a CAGR of 8.5% over the forecast period 2021-2026.

• SSD Caching, first introduced by Intel as Smart Response Technology provides improved performance for computers that use traditional hard drives. The technology reduces cost and reduces time to run an application as SSDs are faster. These benefits are now being realized by IT professionals and they are looking for various ways to take advantage of SSD Caching techniques.
• SSD Caching requires a combination of SSD drive and supporting software to perform the required functioning. SSD drives are costly, hence a combination of it is used with traditional hard drives to enhance performance efficiency. The market is still growing, with enterprises deploying these solutions to cut down costs and improve efficiency. These enterprises are required to analyze huge data sets coming through various data sources. Using SSD solution makes the task easier without investing too much in high powered drives and solutions.
• North America is a big market for notebooks, tablets, and ultrabooks. With the launch of tablets, the laptop market has also changed. With more emphasis on saving time of the consumers to speed up transfer of data, the dynamics of computing has changed for the developers like Apple, HP, Dell, Lenovo etc. There has been a strong push for using SSD to save time.
• The region holds a significant smart retail market share, which generates a huge amount of data, in turn creating the demand for storage solutions. According to the Census Bureau of the Department of Commerce, retail e-commerce sales in the United States were estimated to be USD 214.6 billion in the third quarter of 2021. The new push in laptop market for Ultrabooks to counter the tablet phenomenon is also growing with big companies like Samsung, Acer, Dell etc. releasing their own line of products. All these new technologies will help the SSD market because of their continued use in this.
• The outbreak of COVID-19 has a significant effect on the market. The raw materials supply is affected, hence the value chain is disrupted, causing an inflationary risk on products. The supply chain gap is projected to narrow as the electronics supply chains in China and South Korea begin to recover, notwithstanding a drop in COVID-19 cases. The coronavirus outbreak had an impact on SSD suppliers with factories, third-party assemblers, or source materials in Wuhan. Due to the tardy return of labourers amidst the virus-based limitations, the industries were running at low utilisation.