SSD Market to Hit Sales of $104 Billion by 2028 with CAGR of 14.7% from 2022

According to a report ($4,000) from SkyQuest Technology Consulting Pvt. Ltd., a large number of individuals and businesses are looking to invest in SSD market as they become an increasingly popular way to store data. The demand for SSDs has increased exponentially in the last couple of years because they offer a number of advantages over traditional HDDs, such as faster boot times, less noise and longer battery life.

Moreover, this growth is likely to be driven by the increasing demand for mobile devices, enterprise applications and cloud storage. The high performance and reliability of SSDs make them a preferred choice for a variety of applications. For example, hospitals are increasingly opting for SSDs to store medical records because they offer faster startup times and lower energy consumption. Similarly, data centers in SSD market are placing greater emphasis on SSDs because they provide improved performance and reliability when compared with traditional HDDs. In addition to their widespread use in business and personal applications, SSDs are also becoming increasingly popular among consumers. This is likely due to the growing demand for mobile devices that require fast startup times and juicer file performances. In fact, nearly two-thirds of all consumer electronics currently include an SSD.

What does this exponential growth of SSD market means?
A growing demand for global SSD market is evident with prices of the storage devices declining in recent years. The trend is set to continue in the near future, as new applications and tools that require faster data access are being developed.

SSD market gaining momentum because it offers number of benefits that make them ideal for this kind of application. They are reliable and have a low failure rate, which makes them perfect for long-term data storage. They also consume less power, making them an attractive option for powering electronics and vehicles. In addition, their speed makes them ideal for accessing data quickly and reducing the time it takes to retrieve information.

Over 400 million units of SSDs sold in 2021
The popularity of SSDs is on the rise, as storage capacity and prices continue to plummet. In fact, according to SkyQuest, SSDs will account for 70% of all storage by 2025. As of 2021, the SSD accounts for around 60% of the total storage shipment. This is attributable to a number of factors, including the dropping prices of SSDs, growing demand from cloud service providers, and increased interest in thin client devices and data centers that use minimal amounts of storage.

As SSDs continue to gain popularity, the market for HDD space is shrinking. This has resulted in corporations and consumers migrating their data to SSDs in order to conserve space and increase system performance. This shift has also encouraged new development in hybrid drives that combine an SSD with a traditional hard drive.

SSDs are faster than traditional HDDs and offer a number of other advantages such as lower power consumption and longer battery life. Additionally, they are resistant to degradation due to bit errors, which can cause problems with file compatibility.

Despite these advantages, some users may still prefer using HDD for larger files or applications that require slower loading times. In those cases, it is possible to install the HDD separately and attach it via USB or SATA ports.

SSD market sales are on the rise, and we’re not just talking about laptops. SSDs can be found in a variety of devices, including PC servers, data center storage arrays, retail point-of-sale terminals, industrial PCs, automotive componentse. SSDs have been very successful in the past few years. Today, they have started replacing HDDs as the default storage device for computers.

In 2021, over 400 million SSDs were sold. Wherein, WD, Samsung, SK Hynix, Kioxia, Kignston, Micron were among top players in the SSD market. On the other hand, around 64.2 million units of HDD were sold in 1Q21. On contrary, SSD witnessed a sale of 99.4 million units in the same period.

The popularity of SSDs is due to their advantages over HDDs. HDDs are slow and they require a lot of space. SSDs are much faster and they require much less space. SSDs also offer excellent reliability. HDDs can fail relatively easily, and data stored on them can become corrupt. However, SSDs are very reliable and they can survive crashes and other accidents. In fact, this study shows that SSD to HDD ratio was recorded at 3:2.

Samsung, WD and Kioxia generate over 55% revenue of SSD market
As the SSD market is rapidly growing, so are the players in this industry. The market is currently divided into 3 major categories: traditional enterprise storage devices, consumer storage devices, and SSDs for servers.

Based on their revenue share, the following 3 players generate the highest individual revenue in the global SSD industry: Samsung (25.3%), WD (18.2%) and Kioxia (13.3%). These3 companies account for over half of all SSD revenue in the world.

Looking at customer segmentation of the SSD market, it’s interesting to see that enterprise users constitute the largest market for traditional enterprise storage devices. They also dominate the consumer storage device market. In contrast, server vendors are the primary market for SSDs. This suggests that server vendors are increasingly utilizing SSDs as secondary or tertiary storage systems.

First and foremost, it’s worth mentioning that WD has announced that it has shipped over 72 million units of its SSDs. This marks the first time that the manufacturer has shipped over 70 million units of SSD series in a single year.

On the other hand, Samsung shipped more than 100 million units of SSD in 2021. It has long been the dominant player in the field of HDDs, but it seems that SSDs have finally caught their attention. In fact, it is now the largest producer of SSDs in the world. This sudden shift can largely be attributed to 2 reasons: Samsung’s decision to enter the market late and its aggressive pricing strategy.

Samsung has also been aggressive in expanding their product lineup. For example, it released the 850 EVO NVMe PCIe Gen3x4, which is the first consumer SSD with 3D NAND. This product line offers improved performance and durability over traditional 2D NAND drives. Samsung’s dominance in the SSD market is likely to continue for a while. They have a lot of competition but they are still able to provide high quality products at an affordable price.

Top players in SSD market:
• Samsung (South Korea)
• Intel (US)
• Western Digital (US)
• Micron (US)
• Toshiba (Japan)
• Kingston (US)
• Lite-On (Taiwan)
• Seagate (Ireland)
• SK hynix (South Korea)
• Microsemi (US)
• Viking (US)
• Adata (Taiwan)
• Bitmicro Networks (US)
• Mushkin (US)
• NetApp (US)
• Lexar Media (US)
• Crossbar (US)
• G.Skill (Taiwan)
• Violin Memory (US)
• Corsair Components (US)