The solid state drive (SSD) market was valued at USD 34.86 billion in 2019, and it is expected to witness a CAGR of 14.94% during the forecast period (2020 - 2025), to reach USD 80.34 billion by 2025. Technological advancements by large companies in existing SSD, with facilities like 1 GB/s sequential read speed, high-speed continuous shooting at 960 frames per second, are boosting the market growth.
The solid-state drive (SSD) market is dominated by major vendors, such as Intel, Micron Technology, Samsung Electronics, Toshiba, and Western Digital Corporation. As the entry barriers in the market are high, the entry of new players is difficult. The existing vendors in the market are investing heavily in the R&D of new and innovative products.