According to a recent study from market research firm Global Market Insights, The solid state drive (SSD) market is set to witness commendable traction on account of growing demand for high-performance gaming computers and laptops. SSDs have managed to replace conventional mechanical hard disks as it utilizes flash-based memory, which is considered to be significantly faster than traditional hard disks. Benefits like fast throughput rates and low read-access times have made SSDs an ideal component in latest computers.
Rapid development of high graphic games has paved the demand for high performance hardware. Integration of SSDs enables game developers and players to run highly realistic video games that usually require large storage capacity. With an exponential increase in gaming audience, consumer electronics manufacturers have started to shift their efforts on developing high and improved storage options dedicated for running games.
SSDs come as a cost-effective option that delivers relatively better performance and efficiency. This has accelerated its adoption across computing applications such as big data analytics, smart devices, and cloud computing. Additionally, these storage devices are experiencing heavy demands from users as it aids in improving overall digital experience, offering enhanced boot time, application loading, and copying files. Considering these growth aspects, Global Market Insights, Inc., predicts that the solid state drive (SSD) market may cross USD 125 billion by the year 2026.
Meanwhile, increasing usage of 5G technology across the United States might fuel the demand for high speed, large storage devices. Over the past few years, SSDs are observing a huge rise in adoption acoss data centers as they help in expanding the facilities storage infrastructures whilst providing superior performance, efficiency, and reliability to enhance client experience.
Several SMEs and large organizations have begun to steadily shift towards SSDs owing to its remarkable benefits like reduction in sprawl, small environmental footprint, and low power consumption. In addition to this, SSDs are experiencing heavy demands from client applications as it aids in improving user experience with enhanced boot time, application load, and copying files.
2 TB SSD storage devices have managed to make a prominent space in consumer electronics sector, with its solid state drive (SSD) market projected to record a CAGR of 25% while registering over 30 million unit shipments within the forecasted timeframe. Increasing presence of connected and smart appliances along with rapid expansion activities across smart cities could fuel the adoption of advanced 2 TB SSDs to process and store big data.
Mounting adoption of the Internet of Things (IoT) across almost all sectors might further benefit the industry growth. Apart from 2 TB storage devices, SSDs are available in the form of 1TB, 500 GB and below 500 GB variants.
Companies operating in the solid state drive (SSD) market have begun to devote their efforts on inking new strategic acquisition & collaboration deals and conducting product innovation activities to develop their consumer base and market share.
Taking May 2018 for instance, Intel released its latest addition of Optane 905P SSDs to its grade Optane series. The 905P range SSDs deliver twice the capacity compared to previous models and offers enhanced performance.
Key companies covered in are solid state drive (SSD) market ADATA Technology Co. Ltd, Bitmicro networks Inc, Intel Corporation, Kinston Technology, KIOXIA America, Inc (Toshiba Corporation), Micron, Microsemi, Mushkin Enhanced MFG, Netapp, Samsung, Seagate Technology LLC, SK Hynix Inc., Viking Technology, Western Digital.
Source: https://www.gminsights.com/pressrelease/solid-state-drive-ssd-market
