North America Solid State Drives (SSD) Market

Historic Data: 2020-2021   |   Base Year: 2022   |   Forecast Period: 2023-2029

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)

No. of Pages: 130    |    Report Code: TIPRE00027119    |    Category: Electronics and Semiconductor

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North America Solid State Drives (SSD) Market
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The North America solid state drives (SSD) market is expected to grow from US$ 18,311.83 million in 2022 to US$ 44,502.66 million by 2029; it is estimated to grow at a CAGR of 13.5% from 2022 to 2029. 

Cloud computing is rapidly becoming one of the most popular methods for businesses and individuals to back up and preserve their data. With the growing variety of cloud platforms—from classic corporate private and new public clouds to personal clouds in homes—the need for SSDs has been constantly expanding. SSDs featuring new interfaces such as PCIe, NVMe, and others have emerged as a result of technological improvements in solid state storage. PCIe SSDs for cloud computing is becoming more popular due to improved capabilities such as high speed and quick data access. New PCIe SSDs provide excellent performance with low latency and high frequency. A solid-state drive with these capabilities is necessary for a variety of sophisticated activities in data-sensitive businesses like financial services, medical sciences, and energy management, where each microsecond of latency results in a significant revenue loss. Solid-state drives, or SSDs as they are more frequently known, are storage devices that rely on memory. Traditional hard disc drives differ from SSDs in that they lack magnetic storage and, more significantly, moving parts. Hard drives are constantly in use in environments like cloud storage, where data is read at a fast pace, making them more susceptible to failure. Several big firms manage their cloud platforms and respond to the increased demand for SSDs among their clients. For example, Google employs permanent SSD storage for compute engine users in open beta, delivering high-input/output operations per second (IOPS) and allowing Google cloud platform customers to use SSDs faster on workloads. In comparison to standard magnetic media, these activities allow faster input/output (I/O) delivery and are less redundant. Facebook Inc. employs PCIe flash cards instead of hard drives for its MySQL databases to take advantage of FusionIO's logging system, which preserves data in the event of a power outage. When compared to HDD storage, this has resulted in a 50 percent reduction in latency and a 33 percent increase in throughput. SSDs aid in the reduction of infrastructure costs and the improvement of response times. So, increasing penetration of high-end cloud computing is expected to fuel the North America market growth.


In case of COVID-19, North America is highly affected specially the US. COVID-19 has impacted manufacturing businesses in the region in four critical areas, such as supply chain/operations, workforce, 2020 investments, and product offering.  QTS Metro Data Center; Lakeside Technology Center; Utah Data Center; DFT Data Center; Switch SuperNAP; and The Citadel (US) are few largest data centers of the country. As data centers are the prominent end users of SSDs owing to growing cloud services, the demand for SSD storage devices witnessed increasing trend in 2020 and during first half of 2021. The above-mentioned factors had positively accelerated the SSDs adoption during COVID-19 pandemic in 2020.

 

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America solid state drives (SSD) market. The North America solid state drives (SSD) market is expected to grow at a good CAGR during the forecast period.  

 

North America Solid State Drives (SSD) Market Revenue and Forecast to 2029 (US$ Million)

 

North America Solid State Drives (SSD) Market Revenue and Forecast to 2029 (US$ Million)  
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North America Solid State Drives (SSD) Strategic Insights

Strategic insights for the North America Solid State Drives (SSD) provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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North America Solid State Drives (SSD) Report Scope

Report Attribute Details
Market size in 2022 US$ 18,311.83 Million
Market Size by 2029 US$ 44,502.66 Million
Global CAGR (2022 - 2029) 13.5%
Historical Data 2020-2021
Forecast period 2023-2029
Segments Covered By Type
  • Internal
  • External
By Technology
  • Single Level Cell
  • Multi-Level Cell
  • Triple Level Cell
By Storage
  • Under 500 GB
  • 500 GB-1TB
  • 1TB-2 TB
  • Above 2 TB
By End-User
  • Industrial
  • Enterprise
  • Consumer
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Market leaders and key company profiles
  • 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.
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    North America Solid State Drives (SSD) Regional Insights

    The geographic scope of the North America Solid State Drives (SSD) refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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    North America Solid State Drives (SSD) Market Segmentation 

    North America Solid State Drives (SSD) Market –

    By Type

    • Internal
    • External

    North America Solid State Drives (SSD) Market –

    By

    Technology

    • Single Level Cell
    • Multi-Level Cell
    • Triple Level Cell

    North America Solid State Drives (SSD) Market –

    By

    Storage

    • Under 500 GB
    • 500 GB – 1TB
    • 1TB – 2 TB
    • Above 2 TB

    North America Solid State Drives (SSD) Market –

    By

    End-User

    • Industrial
    • Enterprise
    • Consumer

    North America Solid State Drives (SSD) Market, by Country

    • US
    • Canada   
    • Mexico

    North America Solid State Drives (SSD) Market - Companies Mentioned

    • 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.
    • Western Digital Corporation
    Identical Market Reports with other Region/Countries

    The List of Companies - North America Solid State Drives (SSD) Market

    1. G.SKILL International Enterprise Co., Ltd.
    2. Hangzhou Hikstorage Technology Co., Limited
    3. Kingston Technology Europe Co LLP
    4. KIOXIA Corporation
    5. Micron Technology, Inc.
    6. Microsemi Corporation  
    7. Samsung Group
    8. Seagate Technology LLC
    9. Silicon Power Computer & Communications Inc.
    10. SK Hynix Inc.
    11. Western Digital Corporation  
    Frequently Asked Questions
    How big is the North America Solid State Drives (SSD) Market?

    The North America Solid State Drives (SSD) Market is valued at US$ 18,311.83 Million in 2022, it is projected to reach US$ 44,502.66 Million by 2029.

    What is the CAGR for North America Solid State Drives (SSD) Market by (2022 - 2029)?

    As per our report North America Solid State Drives (SSD) Market, the market size is valued at US$ 18,311.83 Million in 2022, projecting it to reach US$ 44,502.66 Million by 2029. This translates to a CAGR of approximately 13.5% during the forecast period.

    What segments are covered in this report?

    The North America Solid State Drives (SSD) Market report typically cover these key segments-

    • Type (Internal, External)
    • Technology (Single Level Cell, Multi-Level Cell, Triple Level Cell)
    • Storage (Under 500 GB, 500 GB-1TB, 1TB-2 TB, Above 2 TB)
    • End-User (Industrial, Enterprise, Consumer)

    What is the historic period, base year, and forecast period taken for North America Solid State Drives (SSD) Market?

    The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Solid State Drives (SSD) Market report:

  • Historic Period : 2020-2021
  • Base Year : 2022
  • Forecast Period : 2023-2029
    • Who are the major players in North America Solid State Drives (SSD) Market?

    The North America Solid State Drives (SSD) Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:

  • 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.
  • Western Digital Corporation
    • Who should buy this report?

    The North America Solid State Drives (SSD) Market report is valuable for diverse stakeholders, including:

    • Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
    • Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
    • Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
    • Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
    • Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

    Essentially, anyone involved in or considering involvement in the North America Solid State Drives (SSD) Market value chain can benefit from the information contained in a comprehensive market report.

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