Major factors driving growth of the global solid state drive market is increasing e-commerce activities across the globe and growing digitalization. In addition, growing number of users of smart devices demand for high storage and data transfer capacity is expected to support growth of the global solid state drive market.
The global solid state drive market is segmented on the basis of type, storage, technology, end user, and region.
On the basis of storage, the global solid state drive market is segmented into under 120 GB, 120GB-320GB, 320GB-500GB, 500GB-1TB, 1TB-2TB, and above 2TB.
On the basis of end user, the global solid state drive market is segmented into enterprise, client, industrial, and automotive. The enterprise segment is estimated to dominate the global market. This can be attributed to increasing demand form large, medium, and small enterprise for various enterprise applications that require high reliability, constant uptime, high-performance storage devices, power efficiency, and high throughput. The client segment is projected to register highest CAGR over the forecast period.
On the basis of region, the global solid state drive market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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The market in North America is expected to account for largest share in the global market in terms of revenue, owing to growing digitalization and increasing e-commerce activities in developed and developing countries. The market in Europe is expected to account for second-largest revenue share in the global market. The market in Asia Pacific is projected to register highest CAGR in terms of revenue over the forecast period, owing to rising need for high-capacity storage devices, and increasing number of data centers in emerging economies in this region.
Key players operating in the global solid state drive market include Intel Corporation, Micron Technology, Inc., Samsung Electronics Co., Ltd., Seagate Technology PLC, Western Digital Corporation, and Toshiba Corporation.