Global SSD Market to Post Exponential CAGR of 40.7% Till 2022

Sep 22, 2015 1:23 AM CDT

According to a new market report published by Transparency Market Research "Solid State Drive Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022," the global Solid State Drive (SSD) market was valued at US$15.1 billion in 2014 and is expected to reach US$229.5 billion by 2022, expanding at a CAGR of 40.7% from 2015 to 2022.

Asia Pacific was the largest revenue contributor in 2014 and accounted for 57.0% of the global solid state drive market. The higher performance requirement in enterprise applications and consumer mobile devices is fueling the demand for solid state drives. Features such as lower power consumption, cooler computing, low form factor, and reduced latency are cementing the demand for solid state drives. The solid state drive market has witnessed rising demand for client SSDs, owing to their use in devices such as notebooks, tablets, and mobiles. Asia Pacific is expected to be the fastest-growing market for solid state drive in terms of revenue during the forecast period. Growth in this region is mainly attributed to an expanding customer base and high IT infrastructure spending in countries such as Japan, China, and Taiwan. Competition in the market is paving way for the development of novel technologies in the solid state drive market. Furthermore, benefits offered by SSDs over HDDs, and the resulting replacement demand, are expected to drive the growth of solid state drive market during the forecast period.

The expected rise in the adoption of SSDs across all regions would help increase the growth exponentially in the long term of the forecast period. Asia Pacific is estimated to dominate the SSD market in terms of revenue, volume, and growth rate throughout the forecast period. Consolidation within the storage industry is one of the key trends observed in the market. Likewise, vendors in the solid state drive market are partnering with competitors to develop technologically advanced products and gain competitive advantage. Development of higher-capacity SSDs is the key trend in the market.

In 2014, client SSD was the largest segment, contributing 88.1% of the revenue and 68.7% of the market volume. SSDs with capacities of 80 GB and below dominated the global solid state drive market in 2014, accounting for approximately 36.3% of the global SSD market revenue. Furthermore, in terms of interface type, SATA SSDs have been able to see swifter adoption than other interfaces due to the former's lower prices. However, with higher performance requirements in enterprises, the SAS and PCI-E SSD segments are expected to overtake the SATA SSD segment over the forecast period. PCI-E SSD is expected to be the fastest-growing segment, recording a CAGR of 61.2% over the forecast period from 2015 to 2022.

In 2014, Samsung Electronics Co., Ltd., Intel Corporation, and SanDisk Corporation were the market leaders and accounted approximately 57.5% of the global SSD revenue. In order to grab potential revenue opportunities, leading players are targeting the niche profitable segments of the solid state drives market. The report provides SSD market estimates in terms of revenue (US$ Mn) and volume (Mn Units) from 2012 to 2022 for different segments, categorized as follows:

Market Segmentation: Global Solid State Drive (SSD) Market

Global Solid State Drive (SSD) Market, By End-user