SSDs will only continue to grow in popularity, according to market researcher Technavio. The enterprise market in particular is driving the increased demand. Laptop users are also saying goodbye to hard drives in larger numbers.
As companies such as Samsung are scaling back production of memory chips, it seems that SSDs will still continue to find customers, according to Technavio. Between 2022 and 2027, the market will grow at an average annual rate of 23.87 percent. That represents an increase in revenue of $74.5 billion (€68.3 billion).
Rapid access
Technavio says demand from enterprise is likely to double between 2022 and 2027. Not a surprise, as the increasing reliance on online data makes it imperative for companies to provide fast access to employees. Banks, hospitals and manufacturing companies naturally hold a lot of data. That data simply gets to the user faster by using SSDs rather than hard drives, and solid state has become comparatively cost-effective per gigabyte. In short, faster storage means more productivity.
Still, there are challenges ahead for the SSD market. Hard drives do contain moving components, but for now they still survive more write and read cycles. Nevertheless, the market looks good for TLC SSDs, the cheapest and most popular form of solid-state technology. The high level of error correction, important for financial services and healthcare, is another attractive aspect of TLC SSDs.
High-end users have been using SSDs in gaming desktops and laptops for some time. Now also consumers of thin-and-light laptops are making the jump. In these devices, many manufacturers are now soldering SSD storage directly to the motherboard. Technavio predicts strong growth in that area as well.
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