Jul 27, 2021 (Market Insight Reports) -- North America solid state drive market outlook will remain buoyant with unprecedented growth of data centers across IT, telecom and retail sectors. With the demand for data centers to provide enhanced data access and high performance soaring, industry participants are likely to up their investments.
Considering performance and high boot speed along with low-power consumption, SSD has fueled the demand to streamline in-vehicle infotainment (IVI) applications, such as 3D mapping, navigation and entertainment. In terms of revenue, North America solid state drive market is forecast to surpass USD 50 billion by 2026.
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Stakeholders are slated to witness increased traction for triple level cell technology following the deployment of 3D NAND technology in the consumer electronics sector. It is worth noting that the TLC technology and 3D NAND architecture will gain prominence owing to high storage requirements and low cost SSD. Illustratively, Western Digital Corp. rolled out its fifth Gen 3D NAND technology based TLC technology in January 2020.
The trend for the peripheral component interconnect expresses (PCIe) will surge across the region in the light of adoption of the interface in consumer electronics applications. The interface provides high speed in write and read operation to underpin 32* lane to keep up with the high-speed processing storage in gaming devices.
Prominently, PC and laptop manufacturers have shown inclination towards PCIe for low power consumption and fast processing of devices. Key industry players are integrating new products to gain a competitive edge in the landscape. For instance, Kingston Technology rolled out new PCIe SSD range with 3,500MB/s and 2,900MB/s read & write speed for HPC, workstations and desktop applications. The PCIe segment captured more than 9% market share in 2019 and will expand at a healthy CAGR of more than 14% through 2026.
Relentless technological innovations in smart devices, smart homes and AI products have fueled the demand from the clinical application portfolio. Besides, computing capabilities in laptops and PCs need compatible memory storage solutions, expediting the demand for SSD products. The client application segment will expand at a strong CAGR of 17% through 2026. Based on unit shipments, it held more than 90% market share in 2019.
Enterprises are slated to exhibit traction for SSDs in the U.S. and Canada following the transition towards cloud based business operation. Prominent companies are introducing power efficient and robust SSD products. Illustratively, Micron Technology rolled out the new enterprise based on Quad Level Cell technology. The solid state drive market in North America from the enterprises application segment was more than 30% in 2019 and will expand at a bullish CAGR of 17% through 2026.
Canada is poised to provide revenue-generating opportunities in the wake of strong demand for data centers and the rising presence of IT companies and telecom operators. The expanding footprint of online education and digitalization in business will propel the adoption of SSDs. Canada solid state drive market share was more than 5% of the regional sector in 2019 and will expand at a robust rate.
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Stakeholders are expected to inject funds in the U.S. on the heels of potential deployment of 5G in the region. The trend for SSD in 5G-enabled edge devices, including smartphones, PCs and laptops will bolster the product adoption. According to global5G.org, total 5G connection is forecast to be pegged at 60% by 2025 in the U.S.
Leading companies are offering the productions in the region Intel Corporation, Adata Technology Co., Ltd, Kingston Technology Company, Inc., and Bitmicro Networks Inc., among others.
Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 List of data sources
Chapter 2 Executive Summary