Single Level Cell Segment to Dominate Europe Solid State Drives (SSD) Market during 2022–2029   

According to a new market research study on “Europe 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$ 38,760.38 million by 2029 from US$ 12,351.50 million in 2022. The market is estimated to grow at a CAGR of 17.7% from 2022 to 2029 The report provides trends prevailing in the Europe solid state drives (SSD) market along with the drivers and restraints pertaining to the market growth. Accelerating adoption in data center applications and growing penetration of high-end cloud computing are the major factor driving the growth of the Europe solid state drives (SSD) market. However, overpriced & small life span of SSDs hinder the growth of Europe solid state drives (SSD) market.   

Europe suffered an economic hit due to the lack of revenues from various industries during the COVID-19 pandemic. The outbreak of new variants of SARS-CoV-2 in the UK and other major European countries further hampered the supply chain of solid-state drives in the region. As Europe is home to a well-established automotive industry, the demand SSDs is at peak in the region. The high storage capacities of SSDs make them a preferred choice among autonomous cars/self-driving vehicles. During lockdown, the adoption of SSDs in autonomous cars reduced; however, with the resuming of the automotive business, the adoption of SSDs began gaining traction again in 2021. The Europe solid state drives (SSD) market was also driven by the high demand generated for consumer electronics storage devices in Europe during the COVID-19 pandemic period due to the increased preference for online learning and remote working.

The Europe 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 UK, Germany, France, Italy, Russia, Poland, Sweden, Norway, Netherlands, and rest of Europe.  

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 Europe 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 'WD Blue SN570’ NVMe SSD in India. Capacities of these SSDs range from 250 GB to 1 TB.  

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