Europe solid state drive market accounted for 17% revenue share in 2019 and will expand at a CAGR of over 15% during the forecast period due to rapid increase in hyperscale data center establishments with rising requirements for huge enterprise SSD data storage in the region.
Selbyville, Delaware, June 11, 2020 (GLOBE NEWSWIRE) --
According to latest report “Solid State Drive Market by Interface (SATA, SAS, PCIe), Technology (SLC, MLC, TLC), Storage (Under 500 GB, 500 GB - 1 TB, 1T B - 2 TB, Above 2 TB), Application (Enterprise, Client), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of SSDs will reach $125 billion by 2026.
The solid state drive market growth is majorly attributed to the benefits related with SSD such as cost effectiveness, high performance, and better efficiency. These are increasing its adoption in the current computing landscape that is experiencing significant explosion of cloud computing, big data analytics, and smart devices.
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The SLC technology segment is set to observe a CAGR of around 20% through 2026. The single level cell SSD is designed to deliver enhanced performance, accuracy, and endurance for high-end industrial and automotive applications. The SLC memory can sustain more than 50,000 program/erase (P/E) cycles, making it suitable for critical enterprise applications. Through SLC technology, companies can improve their data storage performance and endurance, resulting in the growing adoption of SLC SSD in the market.
In terms of unit shipments, the PCIe interface segment held a solid state drive market share of around 10% in 2019 and is likely to witness around 15% growth till 2026. PCIe interface design is majorly characterized for its high-speed processing for storage, which increases its demand in a wide range of applications including consumer electronics devices such as desktop, notebooks, and laptops. Companies are focusing on product upgrades and improving the bandwidth of SSDs, driving the demand for PCIe interface.
The above 2 TB storage segment is anticipated to register around 25% gains with unit shipments reaching 30 million-mark by 2026. The growth can be credited to rising proliferation of smart and connected devices. The growing trend of smart cities and rise in industrial automation have resulted in the burgeoning demand for SSD to store and process Big Data. The rising adoption of the Internet of Things (IoT) in almost every sector and the growing demand for storage of data on a large scale are creating high growth opportunities for the market. The flourishing gaming market with high encrypted graphics is attributed to increase the storage capacities in gaming consoles and laptops. Companies are targeting this demand by bring high storage options for the consumer electronics sector.
Europe solid state drive market accounted for 17% revenue share in 2019 and will grow at a CAGR of 15% during the forecast period due to rapid increase in hyperscale data center establishments with rising requirements for huge enterprise SSD data storage in the region. In November 2019, AWS announced to launch its new cloud data center in Spain by the end of 2022. Major datacenter players are also focusing on establishing colocations and hyper-scale data centers in the region for large storage capacities and management of massive business data, driving the demand for SSDs.
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Some of the key players operating in the solid state drive (SSD) market are Micron Technology Inc., Samsung, Toshiba Corporation, Seagate Technology PLC, Intel Corporation, and Western Digital Corporation. Companies are focusing on new product innovations and investing in R&D activities to improve the performance of solid-state storage drives and gain a competitive edge in the market.
Table of Contents (ToC) of the report:
Chapter 3. Solid State Drive Market Insights
3.1. Industry segmentation
3.2. Impact analysis of corona virus (COVID-19) pandemic
3.2.1. Global outlook
3.2.2. Impact by region
220.127.116.11. North America
18.104.22.168. Asia Pacific
22.214.171.124. Latin America
3.2.3. Industry value chain
126.96.36.199. Research and development
3.2.4. Competitive landscape
188.8.131.52. Distribution network
184.108.40.206. Business growth
3.3. Industry ecosystem analysis
3.3.1. Raw material and component supplier
3.3.4. End users
3.3.5. Vendor matrix
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.2. Industry pitfalls and challenges
3.7. Growth potential analysis
3.8. Porter’s analysis
3.8.1. Industry rivalry
3.8.2. Threat of new entrants
3.8.3. Buyer power
3.8.4. Supplier power
3.8.5. Threat of substitutes
3.9. PESTEL analysis
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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