Global Solid State Drive (Ssd) Market to Post Exponential Cagr of 40.7% Till 2022, Asia Pacific to Be Most Lucrative Region

According to a new market report published by Transparency Market Research “Solid State Drive Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022,” the global Solid State Drive (SSD) market was valued at US$15.1 bn in 2014 and is expected to reach US$229.5 bn by 2022, expanding at a CAGR of 40.7% from 2015 to 2022.

Browse the full Solid State Drive (Enterprise SSDs, Client SSDs) Market Report at:

Asia Pacific was the largest revenue contributor in 2014 and accounted for 57.0% of the global solid state drive market. The higher performance requirement in enterprise applications and consumer mobile devices is fueling the demand for solid state drives. Features such as lower power consumption, cooler computing, low form factor, and reduced latency are cementing the demand for solid state drives. The solid state drive market has witnessed rising demand for client SSDs, owing to their use in devices such as notebooks, tablets, and mobiles. Asia Pacific is expected to be the fastest-growing market for solid state drive in terms of revenue during the forecast period. Growth in this region is mainly attributed to an expanding customer base and high IT infrastructure spending in countries such as Japan, China, and Taiwan. Competition in the market is paving way for the development of novel technologies in the solid state drive market. Furthermore, benefits offered by SSDs over HDDs, and the resulting replacement demand, are expected to drive the growth of solid state drive market during the forecast period.

The expected rise in the adoption of SSDs across all regions would help increase the growth exponentially in the long term of the forecast period. Asia Pacific is estimated to dominate the SSD market in terms of revenue, volume, and growth rate throughout the forecast period. Consolidation within the storage industry is one of...