The solid-state drive (SSD) market was valued at USD 34.86 billion in 2019, and it is expected to witness a CAGR of 14.94% during the forecast period (2020 – 2025), to reach USD 80.34 billion by 2025. The data storage demand is on a massive rise over the past few years, which is expected to witness an increasing trend over the forecast period as well. In order to fulfill this enormous demand for data storage, solid-state drives (SSDs) and hard disk drives (HDD) have emerged as the two leading storage solutions, each having their benefits.
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– SSDs are similar to HDD, in terms of being non-volatile storage mediums. However, instead of spinning disks, the data is stored in a series of interconnected microchips. This makes access to memory much faster and causes the boot times to reduce drastically in SSDs. These factors are increasing the adoption of SSD in the computing process.
– Additionally, SSDs are drawing users’ attention worldwide due to its numerous advantages, such as fast read-write speed, no noise, lower consumption, portability, etc. It can offer faster, more energy-efficient, and more secure data storage experience. Moreover, the game loading speed is faster, and the response-ability and seamless multi-task processing capacity are stronger.
Key Market Trends
Rising Demand from Enterprise Segment to Augment the Market Growth
– SSDs in enterprises store data persistently or cache data in non-volatile semiconductor memory temporarily. It is intended for use in servers, storage systems, and direct-attached storage (DAS) devices. These SSDs generally use NAND flash memory, deliver higher performance, and consume less power than spinning HDDs. However, they usually come at a premium price.
– Enterprise SSDs merits over a client SSD include protection of DRAM-stored data in the event of a power loss, higher performance, stronger error correction code (ECC), consistent and persistent quality of service, and a lengthier warranty.
– The earliest SSDs for enterprises used SLC (single-level cell) NAND flash, which stores one bit per cell and offers the highest level of endurance and performance, with a typical lifecycle of 100,000 writes per cell.
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