Authored By: Sarah
15 Jul 2024

 Solid State Drive (Ssd) Market Size to grow by USD 167419.9 million between 2024-2028

According to a research report “ Solid State Drive (Ssd) Market” by Type (TLC, MLC, SLC) End-user (Laptops, PCs) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 167419.9 million, at a CAGR of  35.02% during the forecast period. In today's business landscape, Solid State Drives (SSDs) have emerged as a superior storage solution compared to traditional Hard Disk Drives (HDDs). SSDs boast no moving parts, ensuring data stability even in turbulent operating environments. Conversely, HDDs rely on physical scanning for reads and writes, which can hinder performance in high-traffic conditions. The fastest HDD may necessitate additional RAM to function optimally. In contrast, SSDs feature no physical tracks or sectors, enabling instant access to memory addresses and significantly reducing Input/Output (I/O) latency. This makes SSDs the preferred choice for Tier 0 and Tier 1 databases and caching technologies, where rapid I/O performance is essential. The absence of mechanical movement in SSDs accelerates I/O requests, resulting in increased productivity and efficiency for businesses.

Browse market data tables, figures, and in-depth TOC on “Solid State Drive (Ssd) Market” by Type (TLC, MLC, SLC) End-user (Laptops, PCs) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample


By Type, the TLC segment is projected to dominate the market size in 2024

The increasing consumer preference for sleeker, more advanced laptop systems is driving the adoption of Solid State Drives (SSDs) in the laptop market. Vendors are responding to this trend by integrating SSDs and 4 GB DRAM into their notebook offerings, such as 256 GB SSD models. This shift not only enhances laptop performance but also allows manufacturers to differentiate themselves in a competitive landscape. By offering SSD-equipped laptops with similar Bill of Materials (BOMs, but superior technical specifications, manufacturers can gain a competitive edge and cater to the growing demand for thinner, faster devices at an additional cost of approximately USD40-USD50.

By End-user, Laptops  segment is expected to hold the largest market size for the year 2024

In the dynamic landscape of the Solid State Drive (SSD) market, Triple-Level Cell (TLC) NAND flash emerges as a cost-effective solution, offering a storage density that is ideal for consumer applications, including memory cards. TLCs are characterized by their ability to store three bits per cell, resulting in a lower cost per bit. However, this comes with increased error correction requirements. Despite these considerations, TLCs represent a burgeoning segment with significant growth potential, driven by their affordability and suitability for applications with moderate write cycles. However, it is essential to note that TLCs are not recommended for industrial applications due to their shorter read/write life cycles, lower performance, and reduced reliability compared to Single-Level Cell (SLC) and Multi-Level Cell (MLC) alternatives.

APAC is forecasted to hold the largest market size by region in 2024

The Solid State Drive (SSD) market is experiencing significant growth due to the increasing demand for faster data access and storage solutions. Businesses are investing in SSDs to enhance their operational efficiency and productivity. These drives offer superior performance, reliability, and energy savings compared to traditional Hard Disk Drives (HDDs). The market is expected to continue its upward trajectory, driven by advancements in technology and the expanding digital economy.

The Solid State Drive (Ssd) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • ADATA Technology Co. Ltd.
  • Corsair Gaming Inc.
  • DataDirect Networks Inc.
  • Intel Corp.
  • International Business Machines Corp.
  • Kingston Technology Co. Inc.
  • Kioxia Corp.
  • LITE ON Technology Corp.
  • Maxta Inc.
  • Micron Technology Inc.
  • NetApp Inc.
  • Pure Storage Inc.
  • Samsung Electronics Co. Ltd.
  • Seagate Technology Holdings Plc
  • Simms International plc
  • SK hynix Co. Ltd.
  • Sony Group Corp.
  • Toshiba Corp.
  • Transcend Information Inc.
  • Western Digital Corp.

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Research Analysis Overview

The Solid State Drive (SSD) market has experienced significant growth in recent years, driven by advancements in NAND flash memory technology and increasing demand for high-performance storage solutions. Relational analytics and cloud computing are key industries fueling this growth, as SSDs offer faster read and write speeds compared to traditional Hard Disk Drives (HDDs). NAND flash memory, the technology behind SSDs, has evolved with the introduction of NVMe (Non-Volatile Memory Express) interface, which offers even faster data transfer rates. The automotive industry and high-end cloud computing are major consumers of these high-performance drives, leading solid-state drive providers to offer various form factors such as HHHL (Half-Height, Half-Length), FHHL (Full-Height, Half-Length), and 2.5" (SFF 8639) for different applications. SSDs come in various interface options, including SATA (Serial Advanced Technology Attachment) and PCI Express (Peripheral Component Interconnect Express). Low-cost interface designs like MnM (Multi-Nand Memory) have also emerged to cater to the growing demand for affordable SSDs. SLC (Single-Level Cell) and TLC (Triple-Level Cell) Planar are common types of NAND flash memory used in SSDs, offering different balance of performance and cost. Overall, the SSD market continues to grow, offering faster, more reliable, and more cost-effective storage solutions than HDDs.

Market Research Overview

The Solid State Drive (SSD) market continues to expand in various consumer and industrial sectors, including homes, small workplaces, laptop systems, ultrabooks, netbooks, and even industrial applications. NAND flash-based memory dominates the market, with offerings ranging from under 500 GB to above 2 TB. Consumer applications such as PCs, smartphones, and tablets often use TLC NAND Memory, while enterprise-grade SSDs may employ MLC NAND Memory for enhanced security requirements and reliability. Key players in the market include Samsung Electronics, which released the PM9A1 SSD in April 2021. The enterprise sector heavily utilizes SSDs for compute engines, cloud platforms, archiving information, and file back-up. Security is a significant concern, with software-based encryption and hardware-based encryption options available. SSDs come in various form factors, including HHHL, FHHL, 2.5” (SFF 8639), SATA, PCI Express, M.2, and NVMe. Industrial applications may require specific temperature ranges and design complexities. The automotive sector is also adopting SSDs for next-generation connected cars and automotive infotainment systems. SSDs offer flexibility, security, endurance, reliability, and performance, making them an essential component in various industries. IEEE 1667 and ATA standards ensure compatibility with HDDs and SSDs, while Smart SSDs and 3D NAND technology continue to drive innovation. The market is expected to grow as the demand for high-end cloud computing, data centers, and consumer applications increases.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

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