Solid-state drives (SSDs) are only becoming more popular, according to market research firm Technavio. The enterprise market is driving the increasing demand, while laptop users are increasingly turning to SSDs instead of hard drives. Despite Samsung scaling back production of memory chips, Technavio predicts that the SSD market will continue to find customers. Between 2022 and 2027, the market is expected to grow at an average rate of 23.87% per year, equating to an increase in turnover of 74.5 billion dollars (68.3 billion euros).
Demand from the enterprise sector is likely to double between 2022 and 2027, due to the increasing reliance on online data. Banks, hospitals and production companies need rapid access to data, which is provided faster with SSDs than hard drives. This faster storage leads to increased productivity.
There are still challenges for the SSD market, such as hard disks being able to withstand more read and write cycles. However, the market looks positive for TLC SSDs, the cheapest and most popular form of solid-state technology. The high degree of error correction, which is important for financial services and healthcare, is also an attractive feature of TLC SSDs.
High-end users have been using SSDs in gaming desktops and laptops for some time, and now thin-and-light laptop users are also turning to SSDs. Many manufacturers are now soldering SSD storage directly to the motherboard of these devices, which Technavio predicts will lead to strong growth in this area.
