Albany, NY, April 04, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new report on the global solid state drive market. As per the report, the global solid state drive market stood at US$15.1 bn in 2014 and is predicted to reach US$229.5 bn by 2022. The report, states that the global solid state drive market is expected to expand at a 40.70% CAGR during the period from 2015 to 2022.
Solid state drives (SSD) are data storage devices that use an assembly of integrated circuits to store data. Most solid state drives use NAND flash memory chips to retain data without using power. Solid state drives are used as one of the perfect alternatives to hard disk drives. SSDs are commonly used in mobile devices, iPads, notebook PCs, and desktop PCs. Solid state drives provide zero latency, reduced boot time, and reduced application load.
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The global solid state drive market is segmented on the basis of end use, interface, geography, and capacity. Based on geography, the global solid state drive market is divided into Latin America, the Middle East and Africa, North America, Asia Pacific, and Europe. In 2014, Asia Pacific was the leading region in terms of revenue. Asia Pacific accounted for 57.0% of the total market in 2014. The growing need to manufacture high-performance mobile devices and enterprise applications is expected to fuel the demand from the Asia Pacific solid state drive market in the years to come. Growing use of SSDs in notebooks, mobile devices, and tablets is further expected to propel the Asia Pacific solid state drive market till 2022. Samsung Electronics Co. Ltd., Intel Corporation, Toshiba Corporation, Transcend Information, Inc., Seagate Technology PLC, Lite-On Technology Corporation, SanDisk Corporation, Micron Technology, Inc., OCZ Storage Solutions, Inc., and Western Digital Corporation, Inc. are some of the leading companies in the global solid state drive market.
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By end use, the global solid state drive market is classified into client SSDs and enterprise SSDs. In 2014, in terms of revenue, the global solid state drive market was dominated by the client SSDs segment. Increasing demand from data center applications is expected to propel the client SSDs segment in the years to come. Based on capacity, the global solid state drive market is classified into 80 GB and below, 81 GB-320 GB, 321 GB-500 GB, 501 GB-1 TB, and 1 TB and above. In 2014, in terms of revenue, the global solid state drive market was led by the 80 GB and below segment. The high prevalence of solid state drives in ultra-thin mobiles with capacities below 80 GB is expected to boost the 80 GB and below segment till 2022.
Based on interface, the global solid state drive market is classified into SAS, PCI-E, and SATA. In terms of revenue, in 2014, the global solid state drive market was dominated by the SATA solid state drive segment, which held 72.4% of the total revenue. In terms of volume, the SATA solid state drive segment accounted for 80.0% of the total volume.
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
- Asia Pacific
- Middle East and Africa
- Latin America
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Source:Transparency Market Research