Global Solid State Drive Market set to increase significantly by 2024

Zion Market Research, the market research group announced the analysis report titled ‘Solid State Drive Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024’

Global Solid State Drive Market: Overview

Solid state drive is the storage device assembled by many integrated circuits to store data. It is also known as the solid-state disk or electronic disk. It uses electronic interfaces best suited for conventional input or output hard disk drives; accordingly, they also allow simple replacements in normal applications. Solid state drive does not include any moving components and that differentiates them from conventional disks. These conventional disks include floppy disks and hard disk drives. They normally have lower access time, more resistance to physical shock and has less latency compared to electromechanical disks. Solid state drive also offers steady performance. The solid state drive spinning platters is replaced by integrated circuits hence it does not face any data fragmentation.

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Global Solid State Drive Market: Growth Factors

Growing penetration of smartphones coupled with flash memory technology is expected to boost the global solid state drive market growth in future. Solid state drive provides ideal storage solution thus driving the global market growth. Telecommunication, video editing and streaming media firms and equity trading companies are the major industries that are benefited by the high data speed offered by solid state drive. Several advantages of the solid state drive include the low rate of latency, consistent performance, and reliable operation; hence, solid state drives is extensively preferred by the customer. Increasing implementation of the solid state drive in various handheld devices drives the global solid state drive market growth. The compact size of the solid state drive renders them perfectly suitable for notebooks making it thinner & lightweight body, ensures longer battery life and high performance. However, high cost associated with research & development and sales & promotion activities are hindering the global market growth.

Global Solid State Drive Market: Segmentation

The global solid state drive market is categorized based on type as multi-level cell and single-level cell. Based on end-user industries the global market is fragmented as government, banking, data centers/IT, finance and defense. Region-wise, the solid state drive is diversified into Asia Pacific, North America, Europe and Rest of the World.

Global Solid State Drive Market: Regional Analysis

Asia Pacific held the largest market share owing to the presence of several leading market players. Most lucrative markets for solid-state drives include China and Taiwan. Increasing demand for advanced mobile phones and laptops in countries such as South Korea and Japan triggered the global solid state drive market. Asia Pacific emerged as a lucrative manufacturing base for electronics and the large consumer base in this region anticipates contributing to the growth of the global market. The Middle East and Africa exhibit attractive growth opportunities in the next few years.

Global Solid State Drive Market: Competitive Players

Some of the key players dominating the global solid state drive market are Pure Storage, Inc., Samsung Group, Skyera Inc., LSI Corporation, Whiptail, OCZ Storage Solutions, Violin Memory Inc., IBM, SanDisk Corporation and HGST Inc. Other players influencing the global market include Intel Corporation, Maxta Inc., Micron Technology, Inc., Nimbus Data Systems, Inc. and A3CUBE Inc.

Solid State Drive Market by Geographical Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa

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