Latin America Solid State Drives Market - Industry Size, Opportunity, Growth, Demand, & Forecast To 2027

A solid-state drive performs the same primary function as a hard-disk drive, but the data is stored on interconnected flash-memory chips that retain the data even when no power flows through them. These flash chips are faster and more reliable compared to traditional hard-disk drives. Solid-state drives are often much smaller than hard-disk drives, which offers manufacturers more flexibility in designing technology. The growing IT sector in Latin America has increased demand for solid-state drive due to its high-speed and efficient features. Many developers and manufacturers are investing in deploying solid-state drives to cut costs and improve overall efficiency. Large enterprises are setting up their data centres in various regional countries, which would further boost the Latin America solid-state drive market. Increasing digitalization in Latin America has increased cloud adoption, deployment of 5G and the presence of an active gaming industry. In addition, Latin America has witnessed significant investments into data centres which are expected to boost the solid-state drive market. Growing penetration of the internet (nearly 60% of the total population) and consumer electronics are also significant factors that propel the market growth in Latin America. 

According to the research report "Latin America Solid-State Drive Market Outlook, 2027", published by Actual Market Research, the solid-state drive market is forecasted to grow with a 20.52% CAGR. Rising demands for IoT (internet of things) coupled with data storage needs in the enterprises are anticipated to drive the Latin America solid-state drive market growth. Latin America's solid-state drive market is segmented into three countries: Brazil, Argentina and Columbia. Among these countries, Brazil is projected to have a higher market share during the forecast period. The rising popularity of smartphones, tablets, and artificial intelligence in Brazil, is expected to propel the market growth. The increasing acceptance of cloud storage services is further expected to witness tremendous growth in the Latin America solid-state drive market. 

According to the report, the Latin American solid-state drive market is segmented into three interfaces 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 anticipated to have the highest market share during the forecast period. SATA interface provides more flexibility to developers to design the system and offers more drive connections. Due to that, the Latin America population has adopted the SATA interface rapidly. The SAS interface and PCIe interface are expected to witness prominent market growth during the forecast period. Based on the storage size, the under 500 GB segment is anticipated to lead the Latin America solid-state market with more than 50% market share by 2027. The under 500 GB storage size is an efficient option for laptops, PCs, and larger-scale data centres. In addition to that, the under 500 GB solid-state drive is cost-effective. Due to that, this segment is anticipated to dominate the market by the forecast period. Based on the end users, the Latin America solid-state drive market is segmented into two major end users: client solid-state drive and enterprise solid-state drive. Among these end users, client end user is projected to lead the market with more than 50% market share due to high penetration of consumer electronics in Latin America which will direct towards the higher demands for efficient data storage system. 

Impact of Covid-19 on Latin America Solid-State Drive Market:
The Covid-19 outbreak has led to the shutdown of all economic activities across Latin America. With the discontinuation of industrial activities across major regional countries, pandemic affected solid-state drive demands. However, this lockdown situation has also positively affected this region. The rise in gaming and PC applications contributed to the growth. Moreover, work from home and remote monitoring strategies also helped boost the demand for solid-state drives. Thus these factors are expected to propel the adoption of solid-state drives in Latin America.

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: Latin America
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Latin America 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
• Brazil
• Argentina
• Columbia

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.