According to the latest research report by The Solid State Drives market was valued at US$ 53,829.6 million in 2021 and is projected to reach US$ 143,557.0 million by 2029; it is expected to grow at a CAGR of 15.0% from 2022 to 2029.
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Era of Smart SSDs to Provide Growth Opportunities for Solid State Drives Market During 2021–2029
The main areas of relational analytics’ attention are data processing and programming methods. For handling relational analytic queries, smart SSDs are flash storage devices with memory and computing power. By making use of SSDs’ processing power, relational analytics for data that is dispersed extensively will become more effective. This increases the computational capacity of servers or appliances while decreasing the amount of computing power needed by the host PC. Instead of relying on standard CPUs, smart SSDs feature their own CPU, which has a very favourable price-to-performance ($/MHz) ratio.
As a result, implementing data processing into smart SSDs can reduce the overall energy consumption of the database server. This will eventually result in a decrease in the overall cost of maintaining the database system. Metadata from relational databases can also be cached on SSDs. This will considerably speed up databases in terms of searches, sorting, and computations.
Impact of COVID-19 Pandemic on Solid State Drives Market
Globally, the COVID-19 pandemic has had a negative impact on a number of industries. The virus’s rapid expansion has compelled governments all over the world to enact stringent regulations governing both human and vehicular movement. The epidemic has impacted economies and numerous businesses in numerous nations because to travel restrictions, widespread lockdowns, and business closures. Less products, goods, and services have been produced as a result of the lockdown. Due to the temporary suspension of operations, businesses in the manufacturing, automotive, electronics and semiconductor, oil and gas, mining, and aviation sectors have seen a decrease in their operations.
The market for Solid State Drives is concentrated with some very well-established players. Some of the key players in the Solid-State Drives Market include
- Kingston Technology Europe Co LLP
- SK Hynix Inc.
- Micron Technology, Inc.
- Microsemi Corporation
- Samsung Group
- KIOXIA Corporation
- G.SKILL International Enterprise Co., Ltd.
- Silicon Power Computer & Communications Inc.
- Hangzhou Hikstorage Technology Co., Limited
- Western Digital Corporation
- Seagate Technology LLC
Solid State Drives Market is Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
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