The overall solid state drive market (SSD Market) is expected to increase from USD 26.47 Billion in 2017 to USD 60.22 Billion by 2023, at a CAGR of 14.68% between 2017 and 2023. Some of the key factors driving this market are increasing penetration of high-end cloud computing, growing adoption of SSDs in data centers, and advantages of SSDs over HDDs.

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The market for SATA interface–based solid state drive accounted for the largest market in 2016. The large market of SATA interface solid state drive is mainly attributed to low-cost interface design. SATA interface also offers lower cable size and cost, faster data transfer through higher signaling rates, and more efficient transfer through an I/O queuing protocol, lower cable size and cost, faster data transfer through higher signaling rates, and more efficient transfer through an I/O queuing protocol.

The market for half height, half length (HHHL); or; even bigger form factor; full height, half length (FHHL) is expected to grow at the highest rate during the forecast period. These form factors offer  high performance as PCIe bus (with direct contact) offers a very low latency.

The solid state drive market for TLC Planar held the largest market in 2016. With the shift in the usage of technology from SLC to MLC and from MLC to TLC, the price per GB of SSDs becomes cheaper. Therefore, TLC offers the cheapest solutions among all other technologies, along with high storage density. This leads to the increasing adoption of TLC SSDs in consumer applications such as notebooks, tablets, and others.