Product Innovation and Differentiation will Enable Solid State Drive Manufacturers to Cut Through the Competition

The global solid state drive (SSD) market is currently witnessing a progressive increase in competition. As per a new report by Transparency Market Research (TMR), the rivalry prevailing among key players has played a role in the creation of a consolidated vendor landscape in the SSD market. Companies such as Intel Corporation, Micron Technology, and Samsung Electronics Co., Ltd have been identified as the leading players in the market. These companies together held a share of around 51% in the global SSD market in 2014.

Targeting lucrative segments, acquisitions and partnerships, and providing high-capacity solutions to clients and enterprises are among the most widely seen strategies adopted by the companies operating in the market. They are also focusing on product innovation and differentiation to strengthen both revenues and geographical reach. This will further help accelerate the demand for SSDs.

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“The rising use of SSDs for manufacturing the latest models in mobile devices will emerge as a crucial driver for the global solid state drive market,” said a lead TMR analyst. The mobile phone industry is incorporating SSDs to improve the performance of mobile devices and reduce the application launch time, thus boosting the speed of the devices. The intrinsic benefits of SSDs are encouraging leading players such as Apple, Inc. to incorporate SSDs in mobile devices manufactured by them. The use of SSDs as primary storage in hand-held devices such as notebooks and ultraportable computers and gadgets has therefore increased considerably.

“Currently hard disk drive (HDD) manufacturers enjoy a greater share of the demand; however, performance benefits offered by SSDs will soon influence the HDD market’s trajectory,” added the TMR analyst. Unlike SSDs, which store information in a microchip, HDDs have mechanically designed moving parts that make them vulnerable to damage. Moreover, SSDs consume lesser power and provide high-performing features such as error correction, garbage correction, read-write caching, and encryption. The compact form factor has worked well for SSDs enabling them to be fitted into smaller spaces. The growing knowledge regarding benefits offered by SSDs over HDDs will thus bolster demand for the former in the forthcoming years.

This 133 page report gives readers a comprehensive overview of the Solid State Drive Market. Browse through Table. Browse through 76 figures and 42 data tables to unlock the hidden opportunities in this market.

SSDs come with a high price tag. This is a key factor threatening the market’s growth to an extent. A combination of expensive manufacturing process, costly raw materials, and relatively low market negative is impacting the demand for SSDs. However, in the long term, the adverse impact of high price of SSDs is expected to reduce as SSDs will eventually beat HDD prices. This limits the possibility of their increased adoption in the highly lucrative low-cost mobile sector, states TMR.

Spurred by the aforementioned factors, TMR projects the global SSD market to rise at an exponential 40.7% CAGR between 2015 and 2022. The market stood at US$15.1 bn in 2014 and is expected to reach US$229.4 bn by the end of 2022. By end user, enterprise SSD is likely to exhibit the highest CAGR of 76.3% between 2015 and 2022, in terms of revenue. Currently, Asia Pacific dominates the global solid state drive market. The presence of several key manufacturers will enable the APAC market rise at a CAGR of 42.5% in terms of revenue, from 2015 to 2022.

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Key Takeaways:

• Decline in SSD prices in long term will enable the market to log a 40.7% CAGR from 2015 to 2022.

• Market to gain impetus from narrowing price difference between HDDs and SSDs.

• Exhibiting a CAGR of 42.5% between 2015 and 2022, Asia Pacific is expected to remain the largest regional market for SSDs.

Key Segments of Global Solid State Drive Market

Global Solid State Drive Market, by End-user

• Enterprise SSDs

• Client SSDs

Global Solid State Drive Market, By Interface

• SATA SSDs

• SAS SSDs

• PCI-E SSDs

Global Solid State Drive Market, By Capacity

• 80 GB and Below

• 81 GB to 230 GB

• 231 GB to 500 GB

• 501 GB to 1 TB

• 1 TB and Above

Global Solid State Drive Market, By Geography

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• Latin America