The market of solid-state drives is growing exponentially. In fact, total available market of SSDs hit $15.1 billion in 2014, if the numbers from Transparency Market Research are to be believed. Moreover, SSD sales are expected to grow by 40 per cent next year.
According to a new market report published by Transparency Market Research, the global solid state drive (SSD) market was valued at $15.1 billion in 2014 and is expected to reach $229.5 billion by 2022, expanding at a compound annual growth rate (CAGR) of 40.7 per cent from 2015 to 2022, reports TechPowerUp. TMR considers solid-state storage in general (such as NAND flash-based storage in Apple iPad tablets) as SSDs.
In 2014, client SSD was the largest segment, contributing 88.1 per cent of the revenue and 68.7 per cent of the market volume. In fact, SSDs with capacities of 80GB and below dominated the global solid state drive market in 2014, accounting for approximately 36.3 per cent of the global SSD market revenue. SSD with Serial ATA interface were the most popular because the technology is used inside all PCs today.
Due to higher performance requirements in enterprises, the SAS and PCI-E SSD segments are expected to overtake the SATA SSD segment over the forecast period from 2015 to 2022. PCIe SSD are expected to be the fastest-growing segment, recording a CAGR of 61.2 per cent over till 2022.
According to Transparency Market Research, Asia Pacific was the largest SSD market revenue contributor in 2014 and accounted for 57.0 per cent of the global SSD market, which is logical given the fact that virtually all PCs are made in the region.
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KitGuru Says: Without any doubts, the SSD market is growing. $15.1 billion total available market of SSDs is something to consider for manufacturers of hard disk drives.