Enterprise SSD Market to Reach $46.89 Billion, Globally, By 2030 at 10.2% CAGR: Allied Market Research

Increase in investments in the high-end cloud segment and growing adoption of data center applications drive the growth of the global enterprise SSD market.

PORTLAND, Ore., Aug. 31, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Enterprise SSD Market By Technology (Single-Level Cell, Multi-Level Cell [Planar and 3D], and Triple-Level Cell [Planar and 3D]), Storage (Under 500 GB, 500GB-1TB, 1TB-3TB, 3TB-5TB, 5TB-8TB, and Over 8TB), Interface (SATA, SAS, and PCIe), Enterprise Size (Small & Medium Enterprises, and Large Enterprises), and Application (High-Performance Computing and Data Center Servers): Global Opportunity Analysis and Industry Forecast, 2021-2030". As per the report, the global enterprise SSD industry generated $17.85 billion in 2020, and is expected to reach $46.89 billion by 2030, growing at a CAGR of 10.2% from 2021 to 2030.

Major Determinants of the Market Growth

Increase in investments in the high-end cloud segment, reduction in ASP of NAND flash memory, and rise in adoption of data center applications drive the growth of the global enterprise SSD market. However, increase in concerns regarding the cost associated with SSDs and lifespan hinders the market growth. On the contrary, unstructured data with real-time analysis is expected to open lucrative opportunities for market players of the market.

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COVID-19 Scenario:

• The Covid-19 pandemic hampered the electronics and semiconductor industry due to restrictions on international import & export and disrupted supply chain. The majority of the electronics components are developed in China. However, restrictions on import-export from China hampered the supply of enterprise SSDs.
• The industry presented several challenges such as lack of health & security resources, deliverables, and contractual obligations. Moreover, several companies postponed their projects or canceled altogether to deal with the losses.
• On the other hand, due to the global adoption of work from home culture, the demand for cloud computing solutions increased significantly. This is expected to boost the demand for enterprise SSDs.

The 500GB-3TB Segment to Manifest the Highest CAGR through 2030

By storage, the 500GB-3TB segment is expected to showcase the highest CAGR of 12.6% during the forecast period, due to surge in demand for large capacity SSDs. However, the under 500GB segment held the largest share in 2020, contributing to nearly three-fourths of the global enterprise SSD market, owing to availability of extensive range of applications specific to SSD storage products in this range.

The Data Center Servers Segment Held the Lion's Share

By application, the data center servers dominated the market in terms of revenue, accounting for more than half of the global enterprise SSD market in 2020. Moreover, the segment would portray the highest CAGR of 10.8% during the forecast period, due to increase in need for SSDs and high bandwidth speed in data center facilities across the globe. The report analyzes the high-performance computing segment as well.

North America Held the Largest Share

By region, the market across North America held the lion's share in 2020, contributing to more than two-fifths of the market, due to rise in investments by major market players in the data center market. However, the global enterprise SSD market across Asia-Pacific is projected to manifest the highest CAGR of 12.2% during the forecast period, owing to rise in awareness regarding high-end cloud computing technology to improve resource utilization and benefits of scalable cloud architecture.

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Key Market Players

• Intel Corporation
• Micron Technology Inc.
• Kingston Technology Corp.
• Samsung Electronics Co. Ltd.
• Microsemi
• SK Hynix Inc.
• Seagate Technology PLC
• Viking Technology
• Toshiba Corp
• Western Digital Corp.

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