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

A solid-state drive is a new generation of storage devices. Traditionally, data was stored on hard disk drives with moving parts like the read/write head. At the same time, new solid-state drives use a memory chip called NAND flash memory with near instance access time. Solid-state drives have various benefits over traditional hard drives, such as higher durability, reliability, power & energy efficiency, less weight, and less noise. Rising penetration of high-end cloud computing and adoption in data center applications are the major factor driving the growth of Solid-state drives in North America. Due to increased demand for storage capacity and fast and convenient data storage options, the North American solid-state market has registered tremendous growth over the last few years. Growing demands for Consumer electronics in North America have propelled the solid-state drive market. In 2020, nearly 200 Billion consumer electronics were sold, and the ratio is expected to rise by the forecast period. The rising adoption of consumer electronic devices such as smartphones, laptops, PCs, AR/VR, etc has created the need for efficient data storage systems. The solid-state drive has become the optimal option to meet consumer demands in North America. Various end users such as client solid-state drive, enterprise solid-state drive, automotive and industry, etc., are actively boosting the market growth of solid-state drives across the region.

According to the research report “North America Solid-State Drive Market Outlook, 2027" published by Bonafide Research, the solid-state drive market is projected to grow with a 14.48% CAGR during the forecast period. The region plays an important role in the growth of the global solid state drive market. The increasing storage requirements from various sectors such as IT, telecom and retail have accelerated the adoption of solid-state drives in North America. The North America solid-state drive market is segmented into three major countries: the United States of America, Canada, and Mexico. Among these countries, the United States of America has a higher market share during the forecast period. Higher market growth is attributed to the presence of leading players in the country and the rising investments for solid-state drive development. These market players aim to have strategic partnerships and collaborations to innovate technically advanced products in the industry.

According to the report, the North America 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 forecasted to lead the North America solid-state drive market with more than 60% market share. SATA interface is primarily used in business laptops and mid-priced desk computers. Due to the high-speed data transfer rate and reliable performance of the SATA interface, it is widely adopted in North America. The SAS interface and PCIe interface are expected to have significant market growth during the forecast period. Solid-state drives have various options based on the storage size of the drive. The solid-state drive market is segmented into four storage sizes: under 500 GB, 500 GB-1 TB, 1 TB- 2 TB and above 2 TB. Among these sizes, the under 500 GB storage size for solid-state drive is anticipated to have a higher market share during the forecast period. The under 500 GB storage size is considered the most efficient for large storage capacity with high-speed operations per second. In North America, they are also used in data centers for huge storage capacity.

Impact of Covid-19 on North America Solid-State Drive Market:

Due to the Covid-19 outbreak, North America has been highly affected, especially the United States of America. Covid-19 has impacted manufacturing businesses in the region, specifically in four major areas: supply chain/operations, product offering, 2020 investments, and workforce. Data centers that are prominent end users for solid-state drives were heavily impacted due to lockdown situations. However, the demand for solid-state drive storage devices increased during the first half of 2021. Changes in consumer choices and preference for efficient technologies with data storage systems have positively accelerated the solid-state adoption during the Covid-19 pandemic in North 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: North America
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• North 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
• United States
• Canada
• Mexico

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.