solid state drive market is estimated to cross the $60,000 million Solid State Drives Market

solid state drive market is estimated to
cross the $60,000 million mark by 2023
The future of global SDD market is prophesied to be attractive with increasing digitization and growth
of media content, across the globe. As per the study, global solid state drive market is estimated to
cross the $60,000 million mark by 2023. On the account of significant advancement in technologies,
high enterprise application demand for greater performance, storage, power efficiency, more
dependability requirement from content generation industry, and swelling large data centers, the
global SDD market has been gaining more traction in recent times.
A solid state drive (SDD) is a type of non-volatile storage media that stores persistent data on solid-
state flash memory. The architectural configuration of a typical SDD controller is optimized to deliver
high performance of read and write functions. Unlike hard disk drive (HDD), SDD has no moving part
to break down and stop functioning. Apart from this, SDD is also a very much viable option for large
data center as it offers speed, mass volume, and hierarchical storage mechanism.
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Lucrative opportunities in the design and development of SDDs along with massively growing adoption
of cloud technology, is firming a positive future of the global solid state drive industry. The study
provides a thorough scenario of the present and conjecture solid state drive business around the
globe. The prevalent trends, driver, opportunities, and restraints have been covered and incorporated
in this industry analysis.
As per findings of the research, sales of SATA has been recorded the largest in the global market in
2018 and is expected to continue rising ahead in forecast years on the back of its excellent storage
capabilities, hot swapping features, and data transfer speed. Additionally, the growth of high mass
storage or even above 2TB is expected to witness fastest growth in the global market during the
forecast period.
Emerging trends which promises a continuous growth of the global SDD market include rapid
emergence of the wireless storage devices, relaxing regulation in regions, and growing digital content
due to emergence of e-commerce and social media. Some factors which are driving the global market
includes increasing utilization of the technology in personal computers, higher demand by consumer
electronics segment, and reduction in application launch time. The global marketplace also fears
challenges to growth from factors such as high cost of SSD, expensive manufacturing process, and low
market awareness.
By region, North America has been the largest market for the sales of solid state drive due to mass
adoption of personal computing systems by the citizens, and an early adoption of SSD by the regional
organizations. However, the market in Asia-Pacific is expected to witness the fastest growth among all
regions, during the forecast period. The anticipated growth in the Asia-Pacific market is expected due
to increasing digitalization, advancement in new technologies, growth in media industry, and
increasing adoption of cloud technologies by the enterprises. In addition to this, Asia-Pacific is
developing as a service provider base for the globe, which is in turn attracting huge investment from
the public and private players in the manufacturing of SSD as comparatively lower capital than
developed regions.