The new generation of the storage device in computers is a solid-state drive (SSD). It is expected that SSD will substitute conventional mechanical hard drives. SSDs greatly speed up computers due to their low read-access times and rapid performance.
What are the key factors driving the global market for solid-state drive (SSD)?
Solid-state drives market is expected to increase from US$ 25 billion in 2018 to US$ 50 billion by 2025.
Solid State Drives (SSD) are new data-storage technology and considered as an alternative to conventional hard drive device (HDD) storage device. The high reliability and efficiency benefits are driving the growth of the solid-state drive market over hard drives. In addition, the rapidly expanding data centres and the increasing innovative solutions such as big data increased the competitiveness of the SSD market due to its longer life and faster speed.
The large storage is also an important aspect, and there will be more developments in increasing the capacity size in the future. Leading players such as Samsung, Intel Corporation, Kingston Technologies and Micron Technology are focusing on the development of higher capacity SSDs.
The growing use of the Internet, the rising e-commerce industry, rapid progress due to digitalisation and increasing volume of media transition would drive the global SSD market. The demand for solid-state drives has been steadily increasing with the rising numbers of high-end cloud computing platforms. Cloud computing becomes one of the safe ways to backup and store information for businesses and consumers.
The technological developments in the solid-state storage have resulted in SSD with new forms such as Peripheral Component Interconnect Express (PCI-E), Serial Advanced Technology Attachment (SATA), and non-volatile memory express (NVMe). The enhanced features such as high speed and fast data access promote the adoption of cloud computing PCIe SSDs which deal high efficiency with decreased bandwidth and high frequency. The upgrade to a SATA-based SSD will continue for older PCs or laptops with a hard disk drive.
However, the high costs of SSD compared to HDD could impede the market growth, as SSDs are around 6 to 7 times more costly of HDDs.