Under 500 GB Segment to Dominate APAC Solid State Drives (SSD) Market during 2022–2029    

According to a new market research study on “APAC 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$ 50,388.50 million by 2029 from US$ 18,248.86 million in 2022. The market is estimated to grow at a CAGR of 15.6% from 2022 to 2029 The report provides trends prevailing in the APAC solid state drives (SSD) market along with the drivers and restraints pertaining to the market growth. Relational analytics using smart SSDs and burgeoning innovations in critical SSD components are the major factor driving the growth of the APAC solid state drives (SSD) market. However, overpriced & small life span of SSDs hinder the growth of APAC solid state drives (SSD) market.   

China and India are the most prominent manufacturing hubs in APAC and have an enhanced focus on industrialization. The growth of the manufacturing industry has been hampered due to lockdown; however, the countries are recovering from their losses as with the recommencement of businesses. China, India, Japan, and South Korea are among the countries with vast populations, which is a key factor contributing to the elevated demand for SSDs in gaming and PC applications; moreover, well-established IT companies drive their demand in data centers. China has 47,000 data centers that operate with 1400 megawatts of capacity. In addition, blockchain storage is emerging as a new source of demand for SSDs in the country. Also, the demand for consumer electronics such as laptops has been high in Asian countries. Therefore, the pandemic caused a neutral to positive impact on the solid-state drives market in major countries of the APAC region.

The APAC 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 Australia, China, India, Japan, South Korea, Singapore, Indonesia, and rest of APAC.   

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 APAC 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, Western Digital Corporation has launched a new WD Elements SE SSD, which can be used across laptops, desktops, and other devices. Such SSDs are meant for those clients who need fast file transfers.        

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