Solid State Drive (SSD) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The solid-state drive (SSD) market was valued at USD 34.86 billion in 2020, and it is expected to witness a CAGR of 14.94% during the forecast period (2021 - 2026), to reach USD 80.34 billion by 2026. The data storage demand is on a massive rise over the past few years, which is expected to witness an increasing trend over the forecast period as well. In order to fulfill this enormous demand for data storage, solid-state drives (SSDs) and hard disk drives (HDD) have emerged as the two leading storage solutions, each having their benefits.​

• SSDs are similar to HDD, in terms of being non-volatile storage mediums. However, instead of spinning disks, the data is stored in a series of interconnected microchips. This makes access to memory much faster and causes the boot times to reduce drastically in SSDs. These factors are increasing the adoption of SSD in the computing process.​
• Additionally, SSDs are drawing users’ attention worldwide due to its numerous advantages, such as fast read-write speed, no noise, lower consumption, portability, etc. It can offer faster, more energy-efficient, and more secure data storage experience. Moreover, the game loading speed is faster, and the response-ability and seamless multi-task processing capacity are stronger.​
• Furthermore, higher SSD capacities at sensitive price points are expected to result in higher attach rates over time, in a new notebook and desktop PCs, and detachable tablets. Many enterprise applications need high reliability, constant uptime, high-performance storage devices, power efficiency, and high throughput. SSDs address all these requirements in an enterprise.​
• The demand for SSD has been rapidly increasing, along with the growing number of cloud platforms, from the traditional corporate private and new public clouds to personal clouds in homes. The commonly used SSD interfaces include Serial ATA (SATA), PCI Express (PCIe), and Serial Attached SCSI (SAS). Enhanced features, such as high speed and quick data access, boost the adoption of PCIe SSDs for cloud computing. ​
• However, 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.

Scope of the Report

A solid state drive (SSD) is a type of nonvolatile storage media that stores persistent data on solid-state flash memory. SSD is faster, quieter, and generally preferable when available, as compared to the hard disk drives (HDD). With a larger capacity, faster speed, and friendlier price, SSD is expected to comprehensively replace HDD in the near future.
 

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Key Market Trends

Rising Demand from Enterprise Segment to Augment the Market Growth

• SSDs in enterprises store data persistently or cache data in non-volatile semiconductor memory temporarily. It is intended for use in servers, storage systems, and direct-attached storage (DAS) devices. These SSDs generally use NAND flash memory, deliver higher performance, and consume less power than spinning HDDs. However, they usually come at a premium price.​
• Enterprise SSDs merits over a client SSD include protection of DRAM-stored data in the event of a power loss, higher performance, stronger error correction code (ECC), consistent and persistent quality of service, and a lengthier warranty.​
• The earliest SSDs for enterprises used SLC (single-level cell) NAND flash, which stores one bit per cell and offers the highest level of endurance and performance, with a typical lifecycle of 100,000 writes per cell. ​
• The improvements to NAND flash technology have enabled the enterprise SSD manufacturers to use lower-endurance NAND flash options, such as a multi-level cell (MLC), triple-level cell (TLC), and 3D NAND. The advantages of the lower-endurance forms of NAND flash include lower cost and higher capacity, which have increased market growth.​
• Small and medium enterprises usually use MLC SSD, which contains not only a longer life span and better performance than TLC SSD, but it also has a relatively lower price than SLC SSD. Users of TLC SSD, owing to its higher capacity and lower cost, are general customers in the market. However, when compared with SLC and MLC SSD, TLC SSD has more extended access latencies (i.e., lower performance) and a relatively smaller number of write erase cycles in a specific block (i.e., shorter life span).

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