Europe Solid State Drives Market - Industry Analysis, Growth, Demand, Share, & Forecast To 2027

A solid-state drive is a type of non-volatile storage device widely used in computers. Solid-state drive stores data on flash memory grids. Each grid/block can store 256 KB to 4 MB. Solid-state drives are expected to replace traditional hard drive disks by performing the primary function more efficiently. Increasing internet penetration, including rising storage needs, is projected to trigger the solid-state drive market in the European region. More than 90% of the Europe population has adopted the internet coupled with various consumer electronics. The requirement for high speed, along with the large data storage capacity in consumer electronics, has boosted the growth of the Europe solid-state drive market. In addition, cloud computing and data centers are key end users for the Europe solid-state drive market. Industries are aiming to accelerate infrastructures for data centers and cloud computing due to the high demand for digital transformation in Europe. Various government agencies across the region have invested in cloud computing initiatives, augmenting the adoption of solid-state drives storage systems in the area.

According to the research report "Europe Solid-State Drive Market Outlook, 2027," published by Actual Market Research, the solid-state drive market is anticipated to have significant market growth with a 16.97% CAGR by 2027. Increasing internet availability, growing online commerce industry, digitalization of everyday activities and increasing volume of media data transfer are expected to drive the Europe solid-state market during the forecast period. Europe solid-state drive market is segmented into six major countries, which include Germany, the United Kingdom, France, Italy, Spain, and Russia. Among these countries, the United Kingdom is forecasted to have maximum market share by the forecast period. More than 93% of the population in the United Kingdom is directed towards the technology revolution through adopting consumer electronics. This factor implies higher demands for secured data storage which is expected to boost the solid-state drive market. Solid-state drives are available in various storage sizes in Europe, including those under 500 GB, 500 GB- 1 TB, 1 TB- 2 TB and more than 2 TB. Among these storage sizes, the under 500 GB storage size is anticipated to acquire more than 50% of the market share. This segment is most efficient for high-scale data storage as well as it is cost-efficient. Due to these qualities, the under 500 GB storage size solid-state drive is widely adopted in the Europe region.

Regulatory frameworks such as the European Union's Waste Electrical and Electronic Equipment (WEEE), Restriction of Hazardous Substances (RoHS), and international standards such as ISO/IEC 27001:2013 and ISO/IEC 27002:2013 are working towards monitoring and controlling data security. Environmental regulations that correlate to recycling are also something that SSD manufacturers consider. With the new features and technologies, manufacturers can attract new customers and expand their footmarks in emerging markets. This factor will likely drive the Europe solid state drives (SSD) market.

According to the report, the Europe solid-state drive market is segmented into two major end users: client solid-state drive and enterprise solid-state drives. Both segments are anticipated to accelerate the Europe solid-state drive market growth actively. Increasing penetration of consumer electronics directs toward the rising demands for client solid-state drive storage devices. With that, many enterprise data centers that require high data throughput and low latency concentrate on solid-state drives. Further, based on the interface, Europe solid-state drive market is segmented into three types which are SATA (serial advanced technology attachment) interface, SAS (serial attached SCSI) interface, and PCIe (peripheral component interconnect express) interface. Among these interfaces, the SATA interface is expected to occupy more than 60% of the market share during the forecast period. For Europe, SATA is a next-generation of mass storage device communication interface. Due to high-speed data transactions over traditional hard-disk drives, Europe is expected to hold the second highest market share for the solid-state drive market, following North America.

Impact of Covid-19 on Europe Solid-State Drive Market:
Europe suffered an economic hit due to the lack of revenues from various industries due to the Covid-19 outbreak. The emergence of new variants of Covid-19 in the United Kingdom and other prominent European countries has hampered the supply chain of solid-state drives across the region. Europe is home to a well-established automotive industry that accelerated the region's solid-state demands. During a pandemic, the need and adoption of the solid-state disk in automotive reduced in Europe; however, the production and adoption of solid-state drives also began. During the covid-19 pandemic, consumer electronics storage devices accelerated the demands for solid-state drives due to the increased preference for online learning and remote working. 

Major Companies present in the market:
Samsung Electronics Co. Limited, Kingston Technology Corporation, Western Digital Corporation, Seagate Technology Holdings Public Limited, Intel Corporation, Adata Technology Co. Ltd, Kioxia Holdings Corporation, Micron Technology, Inc., SK Hynix Inc., Transcend Information Inc., LITE-ON, ASUS, Dell Technologies, Viking, TDK Corporation, NetApp, Micro center, GIGABYTE, Bell Microproducts (Avnet, Inc.), Corsair, G.SKILL International Enterprise Co., Limited, Microsemi Corporation, Hangzhou Hikstorage Technology Co., Limited, Silicon Power Computer and Communications Inc.

Considered in this report
• Geography: Europe
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Europe Solid-State Drive market with its value and forecast along with its segments
• Country wise market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report
• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia

By End User of Solid-State Drive in the report:
• Client SSD
• Enterprise SSD
• Others

By Interface in the report:
• SATA
• SAS
• PCIE

By Storage Size in the report:
• Under 500 GB
• 500 GB–1 TB
• 1 TB – 2 TB
• Above 2 TB

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning. Post this we have started doing primary calls to industry people by equally segmenting in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry manufactures, consultants, Key vendors related to Digital Storage industry. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.