GVR Report cover Solid State Drive Market Size, Share & Trends Report

Solid State Drive Market Size, Share & Trends Analysis Report By Type (External, Internal), By Storage, By End Use (Enterprise, Client), By Region, Competitive Landscape, And Segment Forecasts, 2018 - 2025

  • Report ID: GVR-2-68038-328-7
  • Number of Pages: 100
  • Format: Electronic (PDF)

Report Overview

The global solid state drive market size was valued at USD 7.51 billion in 2016 and is expected to grow at a compound annual growth rate (CAGR) of 14.7% from 2018 to 2025. The market is projected to gain traction over the forecast period, due to factors such as advantages of solid state drives (SSDs) over hard disk drives (HDDs), high reliability and performance efficiency, and increasing usage of SSDs in data centers. Regional regulations such as the European Union’s Waste Electrical and Electronic Equipment (WEEE) and Restriction of Hazardous Substances (RoHS) and international standards such as ISO/IEC 27001:2013 and ISO/IEC 27002:2013 monitor and control data security. SSD manufacturers also focus on environmental regulations related to recycling. In the U.K., the Data Protection Act ensures that personal data is accessible solely to concerned individuals or organizations.

SSD Market size, by storage

Rising penetration of the Internet, growing online commerce industry, digitalization of day-to-day activities, and increasing volume of media data transfer are expected to drive the market. The average household’s storage capacity is expected to increase over the coming years due to the popularity of smartphones and tablets, which has allowed consumers to generate large volumes of digital data and content. Increasing the resolution of images and movies has also led to the creation of large volumes of digital data and content. This has led to the growing demand for sufficient capacity to store content.  

Solid State Drive Market Trends

Cloud computing has become the most popular method to back up and preserve data for businesses and individuals. The need for solid-state drives (SSDs) is constantly expanding from public clouds to personal clouds at home due to the benefits associated with it such as faster functioning, ease to carry, faster data read and write, more durability, less power consumption, more efficient, easy to install, and provides video-on-demand service. Owing to these benefits cloud computing is driving the market.

Furthermore, the growing demand for high-resolution photographs and videos is contributing to the huge production of digital data. As a result, demand for SSDs with large capacity has increased, propelling the market growth. Aside from that, the demand for more storage space grows with each passing day, owing to the growing use of smartphones and tablets, which enable customers to create large amounts of digital data and content.

The increasing demand for solid-state drives is increasing the expectations for a wide range of features and functions. Therefore, manufacturers of these businesses are facing challenges to match the expectations, this factor is expected to hinder the market growth.

Instead of typical processors, smart SSDs use their CPU, which is highly efficient in terms of overall price and performance. As a result, adding data management in smart SSDs can minimize the usage of the database server. This eventually lower the overall cost of running the database system. This aids in the acceleration of large databases in terms of queries, sorting, and calculations which are anticipated to create opportunities for the SSD market.

Due to the closure of many major production units throughout the world as a result of the COVID-19 pandemic, the automobile industry's R&D initiative has been hampered. The post-pandemic impact is expected to drive more interest in autonomous technologies, driving the SSD market forward. Furthermore, the increased data flow owing to the work-from-home scenario has fueled the demand for SSD in data centers. These drives enable data center firms in delivering mega clouds and servers with high performance and strong input-output operations.

Storage Insights

Based on storage type, the market can be segmented into under 120 GB, 120GB–320GB, 320GB–500GB, 500GB–1TB, 1TB–2TB, and above 2TB. SSD storage is gaining popularity due to its unique performance and mechanical characteristics. An SSD is expensive; however, most applications run efficiently on SSDs. Users and enterprises prefer SSDs owing to the constantly rising demand for data storage.

The primary components of a solid state drive include a controller and a memory module. Currently, most SSD manufacturers use NAND flash-based memory, owing to benefits such as low cost and non-volatility, as compared to dynamic random-access memory.

End-use Insights

Based on end use, the market is segmented into enterprise and client. Based on the size, the enterprise segment is further categorized into small, medium, and large. A large number of enterprise applications require high reliability, constant uptime, high-performance storage devices, power efficiency, and high throughput. SSDs address all these requirements in an enterprise.

Massive amounts of digital data and content generation and transfer and need for reliable and fast data storage options have elevated the demand for SSDs, for personal (client) as well as professional (enterprise) use. Demand for usage in the client segment is high as users prefer fast and large data storage options. The growing use of SSDs in laptops, personal computers, tablets, and smartphones is further driving the client segment.

Increasing adoption of solid state drives in data centers is a result of various factors such as greater efficiency compared to traditional HDD storage, increased demand for storage infrastructure, and advancements in enterprise-level SSD in terms of reliability and performance. Enterprises prefer SSDs because they consume less energy, allow for reduction in sprawl, and result in a smaller environmental footprint.

Type Insights

Based on type, the solid state drive market is segmented into external and internal SSD. Solid state drives can be either installed inside computers, laptops, and tablets or can be used as external devices for data storage. Internal SSDs have better and faster performance in a USB enclosure, as compared to an external one. The use of external SSDs is increasing owing to better portability.

SSD Market revenue, by type

Global storage capacity per household is increasing due to the intense use of social media, soaring data transfer, and high amounts of media content generated. As a result, smartphone manufactures are installing SSDs inside mobile devices. An internal SSD is faster and cheaper; however, users are required to use an interface for conversion and a power source for using the drive portably. An external SSD is relatively slower and more expensive but can be attached/connected to systems/devices via USB or FireWire. It is portable; however, it may hamper the performance of a system due to its slow speed.

Regional Insights

Based on the region, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa (MEA). The North American region led the market in terms of revenue in 2016. The rate of replacing hard disk drives (HDDs) with solid state drives is higher in North America than in other regions. In addition, manufacturers of SSDs in the region are focusing on product differentiation and innovation to increase their geographical reach and revenue. This will further help accelerate demand for SSD devices in North America.

The increasing popularity of social media, rise in next-generation connected devices, expanding Information Technology (IT) budgets, growing need for high-capacity storage devices, and soaring number of data centers are expected to drive the SSD market across the Asia Pacific. An increasing number of laptop and smartphone users, growing demand for advanced computing systems, rising demand for on-site storage systems, and thriving cloud computing and big data markets also drive the regional market.

SSD Market Trends by Region

South America and MEA markets are also being driven by the increasing use of laptops and smartphones embedded with SSDs. The growing popularity of the advantages of solid state drives over HDDs is expected to boost demand for the former over the forecast period, particularly in the South American regional market. In contrast, high prices of SSDs are expected to negatively influence demand in the MEA market.

Key Companies & Market Share Insights

Key industry participants in the market include Intel Corporation; Micron Technology, Inc.; Samsung Electronics Co., Ltd.; Seagate Technology PLC; and Western Digital Corporation. Technological proliferation and increasing investments in R&D by manufacturers and associations are expected to drive industry growth.

Recent Developments

  • In June 2023, Seagate Technology Holdings plc introduced FireCuda® 540, the next generation of SSD technology. It delivers sequential read and write speeds of up to 10,000 MB/s. It unlocks pro-level gaming and accelerates content creation, and is over 50% faster compared to Gen4 M.2 NVMe drives.

  • In May 2023, Micron Technology, Inc. launched two SSDs, the Micron 6500 ION NVMe SSD and the Micron XTR NVMe SSD. The former is a high-capacity SSD that provides best-in-class performance. The Micron XTR SSD paired with Micron 6500 ION delivers extreme endurance and enhances system performance.

  • In January 2023, Micron Technology, Inc. announced the production of Micron 9400 NVMe™ SSD. It is designed to manage the most demanding data center workloads, particularly in AI training, machine learning (ML) and high-performance computing (HPC) applications.

  • In July 2022, Western Digital Corp. collaborated with Sony Interactive Entertainment LLC to launch the industry's first official PlayStation®-licensed M.2 SSD for PlayStation® 5 (PS5™) to gamers across the globe. It expands the high-speed storage capacity of the PS5 console to enhance the overall gaming experience.

  • In May 2022,  Western Digital Corp. introduced the Western Digital® PC SN740 NVMe SSD to help address the unique needs of the hybrid workforce and elevate the overall computing experience.

  • In January 2022, SK Hynix Inc. one of the leading semiconductor suppliers in the world announced the closing of the first phase of the transaction to acquire Intel’s SSD and NAND business.

  • In April 2022, Samsung, a leading consumer electronics brand, announced the launch of a storage device, the T7 Shield Portable Solid-State Drive, a drive that provides incredibly fast speeds.

  • In Feb 2022, Seagate Technology LLC, one of the world leaders in data storage infrastructure solutions, expanded its LyveTM Cloud, a premiere cloud storage-as-a-service in Singapore. This expansion was aimed at enabling opportunities to expand services in the Asia Pacific region.

Solid State Drive Market Report Scope 

Report Attribute


Market size value in 2020

USD 12.60 billion

Revenue forecast in 2025

USD 12.60 billion

Growth Rate

CAGR of 14.7% from 2017 to 2025

Base year for estimation


Historical data

2014 - 2015

Forecast period

2017 - 2025

Quantitative units

Revenue in USD billion and CAGR from 2017 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Component, application, electric vehicle, vehicle, and region.

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa.

Country scope

U.S.; Canada; U.K.; Germany; Taiwan; China; India; and Brazil.

Key companies profiled

Intel Corporation; Micron Technology, Inc.; Samsung Electronics Co., Ltd.; Seagate Technology PLC; and Western Digital Corporation.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Solid State Drive Market Segments

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global solid state drive market report based on type, storage, end use, and region:

Global SSD Market Segmentation

  • Type Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)

    • External

    • Internal

  • Storage Outlook(Volume, Million Units; Revenue, USD Million, 2014 - 2025)

    • Under 120 GB

    • 120GB-320GB

    • 320GB-500GB

    • 500GB-1TB

    • 1TB-2TB

    • Above 2TB

  • End-Use Outlook(Volume, Million Units; Revenue, USD Million, 2014 - 2025)

    • Enterprise

      • Small

      • Medium

      • Large

    • Client

  • Regional Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • The U.K.

    • Asia Pacific

      • China

      • Taiwan

      • India

    • South America

      • Brazil

    • The Middle East and Africa 

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