(MENAFN – America News Hour)In a recent published report, Kenneth Research has updated the market report for Solid State Drive (SSD) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Solid State Drive (SSD) Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on Solid State Drive (SSD) Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Solid State Drive (SSD) Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
The Global Solid State Drive (SSD) Market was valued at USD 17.63 billion in 2016 and is projected to reach USD 61.01 billion by 2025, growing at a CAGR of 14.79% from 2017 to 2025.
A solid-state drive (SSD) is a nonvolatile storage device that stores persistent data on solid-state flash memory. A SSD has an array of semiconductor memory organized as a disk drive, using integrated circuits rather than magnetic or optical storage media. Benefits of SSD includes ?♂a” faster functioning, more durable, easier to carry, more efficient, easy to install, faster data reads and writes, reliable, less power consumption, and provides video-on-demand service.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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1. Market Drivers
1.1 Relational analytics using smart SSDs
1.2 Increasing adoption of SSDs in tablets and notebooks
1.3 Advantages of SSDs over HDDs
1.4 Rising adoption of SSDs in data center
1.5 Growing usage of high-end cloud computing
2. Market Restraints
2.1 Design complexities
2.2 Smaller lifespan of SSDs and high cost
2.3 High inconsistency related to low rate latency offered by SSDs
The is segmented on the end user, technology, form factor, interface, capacity, and region.
1. End User:
1.1 Client SSDs
1.2 Enterprise SSDs
2. By Technology:
2.1 TLC Planar
2.2 TLC 3D
2.4 MLC 3D
2.5 MLC Planar
3. By Form Factor:
3.4 U.2 (SFF 8639)
3.5 FHHL and HHHL
4. By Interface:
5. By Capacity:
5.1 80 GB and Below
5.2 81 GB to 230 GB
5.3 231 GB to 500 GB
5.4 501 GB to 1 TB
5.5 1 TB and Above
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
7. SK Hynix
8. Western Digital
10. Bitmicro Networks
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Solid State Drive (SSD) Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.