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North American Solid State Drive Market size to cross $50 Bn by 2026

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North American Solid State Drive (SSD) Market size is anticipated to cross $50 Bn by 2026, according to a latest forecast report by Graphical Research.

The North American solid state drive industry growth is owing to increasing demand for infotainment and safety systems in vehicles. SSD offers high boot speed and performance with low-power consumption, which drives its demand in Advanced Driver Assistance Systems (ADASs). SSD is also capable of delivering flash storage solutions for In-Vehicle Infotainment (IVI) applications including navigation, 3D mapping, and entertainment. To cater to the high demand in the industry, market players are adopting several strategic initiatives, adding an opportunity for the North America Solid State drive market. In January 2020, Micron Technology, Inc. collaborated with Valens Semiconductor to innovate a 1TB automotive-grade PCIe NVMe SSD. It addresses the data and connectivity requirements in next-generation autonomous cars and In-Vehicle Infotainment (IVI) systems.

The Triple Level Cell (TLC) segment held around 25% market share in 2019 and is projected to expand at over 18% CAGR from 2020 to 2026. The growth is credited to the increasing development of 3D NAND technology in the consumer electronics sector. The TLC technology stores three bits of data in each cell, which supports 3D NAND architecture in Solid State drives. The TLC technology along with 3D NAND aids to deliver low-cost SSD with high data storage requirements, accelerating market opportunities. In January 2020, Western Digital Corp. launched its fifth-generation 3D NAND technology (BiCS5) based TLC technology. The new technology will deliver high reliability, capacity, and improved performance at a compiling cost.

Browse detailed statistical insights from the report, “North America Solid State Drive (SSD) Market Size By Technology (Single Level Cell (SLC), Multi-Level Cell (MLC), Triple Level Cell (TLC)), By Interface (Serial ATA (SATA), Serial Attached SCSI (SAS), Peripheral Component Interconnect Express (PCIe)), By Storage (Under 500 GB, 500 GB - 1 TB, 1T B - 2 TB, Above 2 TB), By Application (Enterprise, Client), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1736/north-america-solid-state-drive-ssd-market

The client application segment dominated over 90% market share in 2019 in terms of unit shipments and is set to observe around 17% growth through 2026. Continuous technological innovation in the consumer electronics sector such as smart homes, smart devices, and AI products will drive SSD demand for memory storage requirements. Increasing computing capabilities in PCs and laptops require compatible memory storage solutions, accelerating the development of SSD products. In March 2021, Intel Corporation launched its new client SSD “670p” with a capacity of two terabytes in a single drive.

Canada solid state drive market accounted for over 5% revenue share in 2019 on account of increasing data center establishment in the region along with the growing adoption from IT companies and telecom operators, among others. The growing work from home scenario, online education, and digitalization in business are influencing the regional data center operators to enhance their server capacity with new memory racks. In June 2020, Equinix Inc. acquired 13 data centers from Bell Canada. Through this acquisition, the company will expand its presence over Canada by enhancing the infrastructure with hybrid multi-cloud architecture and data center SSDs.

Major players in the North America market are continuously focusing on new product innovation to deliver high competitiveness in the industry. In May 2020, ADATA Technology launched two new PCIe Gen3x4 M.2 2280 SSDs: ADATA FALCON and SWORDFISH. These new SSDs deliver a wide storage capacity from 256GB to 2TB with correction and data protection technology used in high-performance applications. Some of the major players in the North America SSD market are Adata Technology Co., Ltd., Bitmicro Networks Inc., Intel Corporation, and Kingston Technology Company, Inc., among others.

The North American solid state drive market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026 for the following segments:

North America Market, By Interface

  • SATA
  • SAS
  • PCIe

North America Market, By Technology

  • SLC
  • MLC
  • TLC

North America Market, By Storage

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

North America Market, By Application

  • Enterprise
  • Client

The above information has been provided for the following countries:

  • North America
    • U.S.
    • Canada