Key Takeaways
- In 2023, the global SSD market revenue reached $41.5 billion, marking a 3.5% year-over-year growth despite a PC market slowdown
- The SSD market is projected to grow at a CAGR of 15.2% from 2024 to 2030, reaching $128.8 billion by 2030, driven by AI and data center demand
- Enterprise SSD revenue hit $15.2 billion in Q4 2023, up 20% QoQ, fueled by hyperscaler purchases
- TLC NAND dominated 90% of SSD capacity shipments in 2023
- PCIe 4.0 SSDs held 55% market share in client segment in 2023, up from 35% in 2022
- QLC NAND capacity shipments surged 150% YoY in 2023 to 25% of total
- Samsung held 35.2% client SSD market share by revenue in Q4 2023
- SK Hynix captured 22.1% enterprise SSD revenue share in Q4 2023, up from 15% prior
- Western Digital led NAND revenue at 16.5% overall in 2023
- Average 1TB SATA SSD price dropped to $55 in Q4 2023, down 20% YoY
- Enterprise 15TB QLC SSD ASP rose to $0.025/GB in 2023 from $0.02/GB
- PCIe 4.0 2TB NVMe SSD street price averaged $120 in late 2023
- 96% of new PCs shipped with SSDs in 2023, up from 85% in 2020
- Enterprise data centers adopted 60% all-flash arrays by 2023
- SSDs replaced 70% of HDDs in client PCs by end-2023
Despite a PC market slowdown, the SSD industry grew in 2023 and is poised for strong future expansion driven by AI and data centers.
Consumer and Enterprise Adoption
- 96% of new PCs shipped with SSDs in 2023, up from 85% in 2020
- Enterprise data centers adopted 60% all-flash arrays by 2023
- SSDs replaced 70% of HDDs in client PCs by end-2023
- Hyperscalers like AWS increased SSD capacity 50% YoY to 40 EB in 2023
- Gaming laptops saw 95% SSD adoption in 2023
- Consumer SSD attach rate in notebooks hit 92% in Q4 2023
- AI training clusters used 80% SSDs over HDDs for hot data in 2023
- SMBs adopted external SSDs growing 30% YoY to 25 million units 2023
- Chromebooks shifted to 100% SSD standard by 2023
- Enterprise SSD capacity per server quadrupled to 100TB average in 2023
- PS5 SSD upgrade kits sold 5 million units in 2023
- Data center SSD replacement cycle shortened to 2.5 years in 2023
- Consumer prosumer NAS used 85% SSD caching in 2023 setups
- Global PC SSD upgrade market grew 18% to $12 billion in 2023
- Edge computing devices integrated SSDs in 75% of deployments 2023
Consumer and Enterprise Adoption Interpretation
Manufacturer Market Shares
- Samsung held 35.2% client SSD market share by revenue in Q4 2023
- SK Hynix captured 22.1% enterprise SSD revenue share in Q4 2023, up from 15% prior
- Western Digital led NAND revenue at 16.5% overall in 2023
- Micron's enterprise SSD share reached 18% in Q4 2023, driven by 7450 Pro
- Kioxia held 14.8% client SSD share in 2023
- Phison controlled 45% of client SSD controller market in 2023
- Solidigm (SK hynix spin-off) grabbed 12% enterprise share in 2023 debut
- Seagate's 24TB Mozaic SSDs positioned it at 8% enterprise share Q4 2023
- Intel exited SSD market but held residual 5% share via partnerships in 2023
- YMTC/SanDisk rose to 10% NAND share in 2023 despite US sanctions
- Samsung led overall SSD shipments with 28% unit share in 2023
- SK Hynix enterprise bit share hit 25% in Q4 2023
- WD's BiWIN acquisition boosted China market share to 20% in 2023
- Micron dominated QLC SSDs with 40% share in enterprise 2023
- Kioxia client revenue share fell to 13% amid competition in 2023
- Marvell held 30% enterprise controller market in 2023
- Samsung V-NAND supplied 36% of total NAND bits in 2023
Manufacturer Market Shares Interpretation
Market Size and Growth
- In 2023, the global SSD market revenue reached $41.5 billion, marking a 3.5% year-over-year growth despite a PC market slowdown
- The SSD market is projected to grow at a CAGR of 15.2% from 2024 to 2030, reaching $128.8 billion by 2030, driven by AI and data center demand
- Enterprise SSD revenue hit $15.2 billion in Q4 2023, up 20% QoQ, fueled by hyperscaler purchases
- Client SSD market share of total NAND revenue was 42% in 2023, down from 48% in 2022 due to inventory corrections
- SSD shipments worldwide exceeded 1.15 billion units in 2023, a 25% increase YoY
- The NAND flash market, dominated by SSDs, grew 7.8% YoY to $38.5 billion in Q4 2023
- Consumer SSD market revenue declined 15% YoY in 2023 to $24 billion amid weak PC sales
- By 2028, SSD market is expected to surpass $80 billion with enterprise segment leading at 55% share
- Asia-Pacific held 45% of global SSD market revenue in 2023, driven by China data centers
- Q1 2024 SSD revenue forecasted at $10.5 billion, up 5% QoQ
- SSD bit shipments grew 32% YoY in Q4 2023 to 1,162 Eb, led by enterprise demand
- DRAM-less SSDs captured 65% of client SSD market in 2023, boosting affordability
- PCIe 5.0 SSDs accounted for less than 1% of shipments in 2023 but grew 300% YoY
- Global SSD market CAGR from 2023-2032 projected at 14.5%, reaching $150 billion
- Enterprise SSDs saw 45% YoY revenue growth in 2023 Q4 due to QLC adoption
- Global SSD market revenue reached $41.5 billion in 2023 with 3.5% YoY growth
- SSD market projected CAGR 15.2% 2024-2030 to $128.8 billion
- Enterprise SSD Q4 2023 revenue $15.2 billion, +20% QoQ
- Client SSDs 42% of NAND revenue 2023, down from 48% 2022
- 1.15 billion SSD units shipped globally 2023, +25% YoY
- NAND market $38.5 billion Q4 2023, +7.8% YoY
- Consumer SSD revenue $24 billion 2023, -15% YoY
- SSD market to $80 billion by 2028, enterprise 55% share
- Asia-Pacific 45% SSD revenue share 2023
- Q1 2024 SSD revenue forecast $10.5 billion, +5% QoQ
Market Size and Growth Interpretation
Pricing Trends
- Average 1TB SATA SSD price dropped to $55 in Q4 2023, down 20% YoY
- Enterprise 15TB QLC SSD ASP rose to $0.025/GB in 2023 from $0.02/GB
- PCIe 4.0 2TB NVMe SSD street price averaged $120 in late 2023
- NAND contract prices fell 5-10% per month in H2 2023, stabilizing Q4
- 4TB consumer SSDs priced under $200 by Black Friday 2023, 40% discount YoY
- DRAM-equipped SSD premium shrank to 15% over DRAM-less in 2023
- Enterprise read-intensive SSDs at $0.015/GB ASP in Q4 2023
- PCIe 5.0 2TB SSDs launched at $400+ but dropped to $300 by year-end 2023
- QLC NAND spot prices halved to $0.04/GB in 2023 correction
- 512GB entry-level SSDs hit $30 retail in Q1 2024 forecast
- Mixed-use enterprise SSD pricing stabilized at $0.045/GB mid-2023
- TLC wafer prices declined 25% YoY to $150 per wafer in 2023
- 8TB consumer SSDs averaged $500, or $0.0625/GB in 2023
- OEM SSD bulk pricing for 1TB PCIe 4.0 at $80/unit Q4 2023
Pricing Trends Interpretation
Technology Advancements
- TLC NAND dominated 90% of SSD capacity shipments in 2023
- PCIe 4.0 SSDs held 55% market share in client segment in 2023, up from 35% in 2022
- QLC NAND capacity shipments surged 150% YoY in 2023 to 25% of total
- Average NAND layer count reached 192 layers in 2023 mass production, with 238-layer coming in 2024
- PCIe 5.0 SSD sequential read speeds hit 14,000 MB/s in 2023 with Phison E26 controller
- 3D NAND yields improved to 85% for 200+ layer dies in late 2023
- NVMe protocol captured 95% of enterprise SSDs in 2023, phasing out SAS/SATA
- E1.L form factor SSDs grew to 15% of enterprise shipments in 2023 for rack-scale efficiency
- ZNS (Zoned Namespaces) SSDs entered production with 10% adoption in hyperscalers by 2023 end
- Average SSD endurance improved 40% YoY to 600 TBW per TB for consumer TLC in 2023
- Compute Express Link (CXL) SSDs prototyped with 2TB capacities at 64 GT/s in 2023 labs
- BiCS8 218-layer NAND from Kioxia entered volume production Q4 2023 with 30% density gain
- Samsung's V-NAND V9 at 236 layers achieved 1.4 Gb/mm² density in 2023
- YMTC's 232-layer Xtacking 3.0 NAND hit 90% yields in 2023
- PCIe 6.0 SSD concepts demonstrated 32 GB/s speeds at FMS 2023
Technology Advancements Interpretation
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