Report : North America Solid State Drives (SSD) Market Forecast to 2029 - COVID-19 Impact and Regional Analysis By Type (Internal and External), Technology (Single Level Cell, Multi-Level Cell, and Triple Level Cell), Storage (Under 500 GB, 500 GB - 1TB, 1TB - 2 TB, and Above 2 TB), and End-User (Industrial, Enterprise, and Consumer)
Internal Segment to Dominate North America Solid State Drives (SSD) Market during 2022–2029
According to a new market research study on “North America Solid State Drives (SSD) Market to 2029– COVID-19 Impact and Regional Analysis and Forecast by Type, Technology, Storage, and End-User,” is expected to reach US$ 44,502.66 million by 2029 from US$ 18,311.83 million in 2022. The market is estimated to grow at a CAGR of 13.5% from 2022 to 2029 The report provides trends prevailing in the North America solid state drives (SSD) market along with the drivers and restraints pertaining to the market growth. Rising penetration of high-end cloud computing and adoption in data center applications are the major factor driving the growth of the North America solid state drives (SSD) market. However, overpriced & small life span of SSDs hinder the growth of North America solid state drives (SSD) market.
In case of COVID-19, North America is highly affected specially the US. COVID-19 has impacted manufacturing businesses in the region in four critical areas, such as supply chain/operations, workforce, 2020 investments, and product offering. QTS Metro Data Center; Lakeside Technology Center; Utah Data Center; DFT Data Center; Switch SuperNAP; and The Citadel (US) are few largest data centers of the country. As data centers are the prominent end users of SSDs owing to growing cloud services, the demand for SSD storage devices witnessed increasing trend in 2020 and during first half of 2021. The above-mentioned factors had positively accelerated the SSDs adoption during COVID-19 pandemic in 2020.
The North America solid state drives (SSD) market has been segmented based on type, technology, storage, end-user, and country. Based on type, the market is bifurcated into internal and external. The internal segment dominated the market in 2021 and external segment is expected to be fastest growing during forecast period. Based on technology, the market is segmented into single level cell, multi-level cell, and triple level cell. The single level cell segment dominated the market in 2021 and triple level cell segment is expected to be fastest growing during forecast period. Based on storage, the market is segmented into under 500 GB, 500 GB – 1TB, 1TB – 2 TB, and above 2 TB. The under 500 GB segment dominated the market in 2021 and 1TB – 2 TB segment is expected to be fastest growing during forecast period. Based on end-user, the market is segmented into industrial, enterprise, and consumer. The consumer segment dominated the market in 2021 and enterprise segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the US, Canada, and Mexico.
G.SKILL International Enterprise Co., Ltd.; Hangzhou Hikstorage Technology Co., Limited; Kingston Technology Europe Co LLP; KIOXIA Corporation; Micron Technology, Inc.; Microsemi Corporation; Samsung Group; Seagate Technology LLC; Silicon Power Computer & Communications Inc.; SK Hynix Inc.; and Western Digital Corporation are among the leading companies in the North America solid state drives (SSD) market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Kingston announced the launch of KC3000, a next-generation PCIe 4.0 NVMe M.2 SSD designed for desktops and laptops. KC3000 SSD provides next-level performance with the use of the latest Gen 4x4 NVMe controller.
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