A solid-state drive performs the same basic function as a hard-disk drives but the data is stored on interconnected flash-memory chips that retain the data even when there is no power flowing through them. These flash chips are faster and more reliable compared to traditional hard-disk drives. Solid-state drives are often much smaller than hard-disk drives, that offers manufacturers more flexibility in designing technology. Growing IT sector in Latin America has resulted in the increase in demands for solid-state drive due to high-speed and efficiency features. Many developers and manufactures are investing in the deployment of solid-state drive in order to cut costs and improve overall efficiency. Large enterprises are setting up their data centers into various countries in the region which would further boost the Latin America solid-state drive market. Increasing digitalization in Latin America has increased cloud adoption, deployment of 5G and presence of active gaming industry. In addition to that, Latin America has witnessed significant investments into data centers which are expected to boost the solid-state drive market. Growing penetration of internet (nearly 60% of total population) and consumer electronics are also accounted to be significant factors to propel the market growth in Latin America. According to the research report “Latin America Solid-State Drive Market Outlook, 2027" published by Bonafide Research, solid-state drive market is forecasted to grow with 20.52% CAGR. Rising demands for IoT (internet of things) coupled with data storage needs in the enterprises are anticipated to drive the Latin America solid-state drive market growth. Latin America solid-state drive market is segmented into three countries that include Brazil, Argentina and Columbia. Among these countries, Brazil is projected to have higher market share during the forecast period. With rising popularity of smart phones, tablets, artificial intelligence in Brazil, it is expected to propel the market growth. The increasing acceptance of cloud storage services is further expected to witness tremendous growth for Latin America solid-state drive market. According to the report, Latin America solid-state drive market is segmented into three interfaces which are SATA (serial advanced technology attachment) interface, SAS (serial attached SCSI) interface and PCIe (peripheral component interconnect express) interface. Among these interfaces, SATA interface is anticipated to have the highest market share during the forecast period. SATA interface provides more flexibility to developers to design the system and it also offers more connections for drives. Due to that, Latin America population has adopted SATA interface rapidly. For the SAS interface and PCIe interface, they are expected to witness prominent amount of market growth during the forecast period. Based on the storage size, the under 500 GB segment is anticipated to lead the Latin America solid-state market with more than 50% of market share by 2027. The under 500 GB storage size is efficient option for laptops, PCs as well as larger scale data centers. In addition to that, the under 500 GB solid-state drive is cost effective. Due to that, this segment is anticipated to dominate the market by the forecast period. Based on the end users, Latin America solid-state drive market is segmented into two major end users which includes client solid-state drive and enterprise solid-state drive. Among these end users, client end user is projected to lead the market with more than 50% market share due to high penetration of consumer electronics in Latin America which will direct towards the higher demands for efficient data storage system. Impact of Covid-19 on Latin America Solid-State Drive Market: The Covid-19 outbreak has led to the shutdown of all economic activities across Latin America. With the discontinuation of industrial activities across major countries in the region, pandemic affected to solid-state drive demands. However, this lockdown situation has showed some positive affect also on this region. The rise in the demand for gaming and PC applications contributed to the growth. Moreover, work from home and remote monitoring strategies also helped boost the demands for solid-state drives. Thus these factors are expected to propel the adoption of solid-state drives in Latin America. Major Companies present in the market: Samsung Electronics Co. Limited, Kingston Technology Corporation, Western Digital Corporation, Seagate Technology Holdings Public Limited, Intel Corporation, Adata Technology Co. Ltd, Kioxia Holdings Corporation, Micron Technology, Inc., SK Hynix Inc., Transcend Information Inc., LITE-ON, ASUS, Dell Technologies, Viking, TDK Corporation, NetApp, Micro center, GIGABYTE, Bell Microproducts (Avnet, Inc.), Corsair, G.SKILL International Enterprise Co., Limited, Microsemi Corporation, Hangzhou Hikstorage Technology Co., Limited, Silicon Power Computer and Communications Inc. Considered in this report • Geography: Latin America • Historic Year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Latin America Solid-State Drive market with its value and forecast along with its segments • Country wise market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • Brazil • Argentina • Columbia By End User of Solid-State Drive in the report: • Client SSD • Enterprise SSD • Others By Interface in the report: • SATA • SAS • PCIE By Storage Size in the report: • Under 500 GB • 500 GB–1 TB • 1 TB – 2 TB • Above 2 TB The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning. Post this we have started doing primary calls to industry people by equally segmenting in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry manufactures, consultants, Key vendors related to Digital Storage industry. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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