Solid State Drive market to see steady growth

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The Solid State Drive Market is set to grow from its current market value of more than $55 billion to over $125 billion by 2026, according to new market research from Global Market Insights.

The reports suggests that the solid-state drive (SSD) market will see considerable growth in the 2020-26 time period, owing to the rapidly increasing use of SSDs in data centres coupled with the exponentially rising level of internet penetration across the globe.

A solid-state drive (SSD) is a novel generation of digital storage device which is used in computers and are memory chips that are fitted onto a circuit board. They have an In/Out interface, generally in the form of PCle or SATA, feeding power and transferring data.

These devices essentially replace the conventional mechanical hard disks in computers and rely on flash-based memory to store data, which is in general significantly faster. Hence, SSD accelerates the performance of computers substantially owing to their quick throughputs and low read-access times.

In SSD there are no moving parts, instead the SSDs use NAND flash memory, which is comparatively stable and can last for a longer time. Solid-state drives have certain benefits in the areas such as gaming, mobility, servers, and business. Gaming computers have consistently expanded beyond the limits of the existing computing technology, justifying moderately costly equipment for the benefit of gaming performance.

Businesses that are working with vast amounts of data, like data analysis or programming environments, typically rely upon SSDs, since access times as well as file-transfer speeds are highly critical in such enterprises.

Owing to the technology they use; they are lighter and are able to endure movement as well as damage from drops. As solid state drives utilise less energy, they subsequently also allow computers to run cooler, saving costs on a sophisticated cooling system.

The solid state drive (SSD) market is segmented in terms of interface, technology, storage, application, and regional landscape.

Based on storage, the SSD market is classified into above 2TB, 1TB-2TB, 500GB-1TB, and under 500 GB. The under 500 GB segment represented a market share of over 70% in 2019 with the growing product adoption in PCs and laptops to deliver high speed and security.