Tips & Tricks

Analyzing the State of Solid State Drives (SSD) Market

For the last several years, solid-state drives have been heralded as the future of corporate storage. There is an overwhelming attraction for people who are aware of the limitations of the traditional hard drive to the promise of something simpler, quicker, and more durable.

While hard disc drives (HDDs) aren’t going away without a fight, the SSD phenomenon seems to be on the increase.

Market Forecast

According to recent research, global flash-based storage revenue is expected to reach $63 billion in 2024. Over the next eight years, it will grow at an astounding 18% compound annual growth rate (CAGR). North America is the most important area, primarily because organisations in Canada and the United States are becoming more interested. Big business, it seems, is driving the market forwards.

Application Diversity

The report cites better performance in high workload conditions and reduced prices as driving worldwide SSD expansion. Solid-state SSDs excel in a variety of applications. They outperform HDDs in terms of IOPS (input-output operations per second). Fast read and write rates make them ideal for large data applications that need high-speed access. Newer models easily handle terabytes. SSD technology is now more equipped than ever to meet corporate capacity needs.

The IT services sector has significantly boosted the SSD market. Many cloud service providers use this storage technology to offer greater flexibility. In database administration, analytics, and other cloud applications, SSD provides quicker I/O than HDD-based infrastructures.

Some manufacturers let you switch workloads between SSD arrays and conventional storage depending on your requirements to get the best of both worlds. Some experts believe SSDs will be the future of cloud computing due to their speed and cost-effectiveness.

Price Factor

Hard drives presently have a cost advantage, which they will most certainly keep for the foreseeable future. Despite the fact that the cost of flash arrays is decreasing, they are still considerably more costly than comparable technologies.

SSDs may cost anything from 20 cents per gigabyte to 50 cents per gigabyte, according to this ExtremeTech article. HDDs cost about 4 cents per gigabyte. There are a number of factors that affect the price of any kind of storage device. These include the capacity, form size, and flash technology for SSDs. NAND-based drives, for example, are less expensive and offer a higher storage density than NOR-based drives.

Many industry experts believe that SSD will be the eventual market winner because of its radical advances in terms of performance, durability, and dependability. Its bell-to-bell domination may be sealed if it can close the pricing difference. According to one industry insider, it may happen as soon as the end of the year.

Adoption Considerations

Solid-state SSDs have many obvious advantages. In addition, although the future seems promising, it may not be necessary to get on the bandwagon just now. Despite significant advancements, increased prices and lower capacity per drive are harsh realities that may restrict their usefulness in some applications. So, what do we do now, exactly? Anything except passively watching from the sidelines.

With the help of your IT staff, determine which drive platform is best suited for your organisation by evaluating the capacity, performance, and cost trade-offs between SSD and HDD storage options. The majority of storage infrastructure companies will enable you to choose your own discs, allowing you to obtain the greatest pricing and performance for your money.

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