The increasing competition in the global solid state drive market
is expected to create a consolidated market structure, as observed by
Transparency Market Research. In 2014, Micron Technology, Intel
Corporation, and Samsung Electronics Co., Ltd held 51% of share in the
global solid state drive market. In addition, the key manufacturers are
investing in research and development activities that could drive the
demand in this market. To improve the geographical reach companies are
investing in merger and acquisitions and targeting key segments that
could help in providing strategic solution to clients and enterprises.
Tapping new market to strengthen their geographical reach is also a
business strategy used by these companies.
According to the statistics provided by
Transparency Market Research, the global solid state drive market is
projected to rise at 40.7% CAGR during the forecast period from 2015 to
2022. Rising at this rate the market is expected to touch US$29.4 bn by
the end of 2022 progressing from US$ 15.4 bn as estimated in 2014.
Based on end user, in 2014, the client
SSD segment led the global solid state drive market. As client SSDs are
used in consumer tablets, notebooks, and desktops PC, they provide high
performance, longer battery, and are light in weight their demand in
increasing at a rapid pace. Based on geography, Asia Pacific is
considered one of the key region due to the presence of leading players
in the region. moreover, growing demand for mobile devices and laptops
especially in countries like China, Japan, and South Korea has led to
rise of this region.
Growing Use of Solid State Drive in Mobile Phones to Drive Market Growth
As solid state drive are widely used in
mobile phones, thus, with bolstering demand in the mobile phone industry
is likely to boost the demand for solid state drive. To reduce the
application launch time and enhance the performance of mobile phones
solid state drives are used. Leading mobile companies such as Apple has
incorporated SSDs in mobile devices, which has further augmented the
demand in this market.
Request a PDF Brochure With Future Analysis@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2978
Moreover, hand-held devices such as
ultraportable computers and notebooks where SSDs plays a crucial role in
primary storage has increased large growth opportunity for the solid
state drive market. High performing features such as garbage correction,
error correction, and encryption and less power consumption are some of
the other noticeable factors driving the solid state drive market.
High Cost to Restrain Demand for Solid State Drive
On the other hand, few challenges are
hampering the growth in the solid state drive market. High cost of solid
state drive is one of the key challenge hampering the growth of this
market. High cost of raw materials, expensive manufacturing process, and
relatively low market is impacting negatively on the market growth. In
addition to that, inconsistency in low rate latency have also added in
increasing the restraints faced in this market. However, high cost is
expected only for short duration as with time solid state devices will
eventually beat HDD prices in the forthcoming years. This may limit the
possibility of adoption of lucrative opportunity in the low-cost mobile
sector. On the other hand, technological advancements are likely to
benefit the market’s growth and increase the capability of solid state
drive overpowering the services offered by HDD.
0 comments:
Post a Comment