According to the report title “GlobalSolid-State Drive (SSD) Market Outlook, 2027”, published by Bonafide Research,
the Solid-State Drive is expected to reach more than $40 Billion in the year
2021. It is expected to expand at a compound annual growth rate (CAGR) of 17%
from 2022 to 2027. The data storage industry is expected to witness an increase
in its consumption over the next couple of years. In order to fulfill this
massive need, the two leading storage solutions, namely hard disk drives and
solid-state drives, have emerged as the ones to use.
Unlike traditional storage
mediums, a Solid-state drive (SSD) is a new generation of storage device used
in computers. SSDs simply use flash-based memory, which is far faster than a
mechanical hard disk. Traditionally, data was stored primarily on mechanical
hard drives and these hard disk drives (HDDs) are mostly based on moving parts,
like a read/write head that goes back and forth to gather data. The new SSD
work completely differently. They use a memory chip called NAND flash, which
has no moving parts and near-instant access times. Rather than a magnetic
platter, files are saved on a grid of NAND flash cells and each grid which is
also called a block can store between 256 KB and 4MB. In SSD data is stored in
integrated circuits. Which is different from HDDs and it also has a lot of
implications, especially in size and performance. Without the need for a
spinning disk, SSDs can reduce to the shape and size of a stick of gum (known
as the M.2 form factor) or even as small as a postage stamp. It has a capacity
that how much data they can hold and makes them flexible for smaller devices, such
as slim laptops, convertibles, or 2 in 1s. SSDs dramatically reduce access time
since users don’t have to wait for magnetic platter rotation to start.
Initially, In terms of cost, SSDs are more expensive than HDDs per amount of
storage (in gigabytes and terabytes), but the gap is closing as SSD prices
decline at a faster pace than HDD prices year over year.
Region-wise, Asia Pacific contributed the highest market share approx. 40%
shares of the global market. The Increasing popularity of cryptocurrencies such
as Bitcoin has resulted in shortages of graphics cards as crypto miners buy
them in bulk. The new cryptocurrency is called Chia, which is developing on
peer-to-peer Bit Torrent protocol and uses a proof of space-time model rather
than a proof of work model. It means Chia relies on storage instated of
processing performance to mine, and it means a lot less wasted electricity in
the process and required more storage capacity. Increasing online storage
services and providing fast and cheaper solution for storage require less need
for high-capacity local storage. Therefore models with less storage capacity
with SSD gaining popularity in the market. In the global market, By Storage
size, under the 500 GB dominating in 2021 and contributing more than 50%.
Impact of Covid-19 on Solid-State Drive Market:
In 2020, a sudden outbreak of the COVID-19 pandemic has disrupted the supply
chain globally. In the same year, the growth of the market reported was
decreasing due to the imposition of lockdown in almost all the major countries
and halted manufacturing activities resulting in delayed production.
?
Major Companies present in the market:
Samsung Electronics Co. Limited, Kingston Technology Corporation, Western
Digital Corporation, Seagate Technology Holdings Public Limited, Intel
Corporation, Adata Technology Co. Ltd, Kioxia Holdings Corporation, Micron
Technology, Inc., SK Hynix Inc., Transcend Information Inc.