Report : South 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)
External Segment is Expected to be Fastest Growing During Forecast Period for SAM Region
According to a new market research study on “SAM 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$ 4,450.27 million by 2029 from US$ 2,438.63 million in 2022. The market is estimated to grow at a CAGR of 9.0% from 2022 to 2029 The report provides trends prevailing in the SAM solid state drives (SSD) market along with the drivers and restraints pertaining to the market growth. Increasing penetration of high-end cloud computing and innovations in critical SSD components are the major factor driving the growth of the SAM solid state drives (SSD) market. However, high cost & small life span of SSDs hinder the growth of SAM solid state drives (SSD) market.
The COVID-19 pandemic has led to the shutdown of all economic activities across South America. With the discontinuation of industrial activities across major countries in the region, such as Brazil and Argentina, amongst is thereby affecting has positively created the demand for SSDs. The rise in demand for gaming and PC applications has also been contributing to the growth of the SAM solid state drives (SSD) market. Moreover, work from home and remote monitoring strategies also helped boost the sale of electronics products such as laptops. Further, with the rise in demand for the communicational purpose, the importance of the IT and telecommunications sector has also increased in the last two years. Thus, the widespread adoption of work from home practices has further nurtured the growth of data centers among enterprises, thereby propelling the adoption of SSDs.
The SAM 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 Brazil, Argentina, Chile, and rest of SAM.
G.SKILL International Enterprise Co., Ltd.; Hangzhou Hikstorage Technology Co., Limited; Kingston Technology Europe Co LLP; Micron Technology, Inc.; Microsemi Corporation; Samsung Group; Seagate Technology LLC; Silicon Power Computer & Communications Inc.; and Western Digital Corporation are among the leading companies in the SAM 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 2020, Seagate’s IronWolf 510 is an M.2 NVMe SSD featuring caching speeds of up to 3 GBps for NVMe-compatible systems and is most recommended for business NAS, which requires 24×7 multi-user storage that is cache enabled.
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