Indian SSD Market on Rise: What to Expect Next

Over the past few years, the storage market has recorded tremendous growth in India. SSD segment is a fast-growing market in India and contains enormous poten al for all leading brands in this segment as they all are be ng big on innova ons while product development. According to CMR’s India Hard Drive Market Review for Q3 CY2022, the India Consumer Internal SSD market (SATA & NVMe) market shipments increased by 45% QoQ. The overall market also registered remarkable 76% growth YoY. While as per 6Wresearch, India Solid State Drive Market Size is projected to reach nearly $156 million by 2023. Presently,

India’s data storage device market is dominated by Hard Disk Drive (HDD) segment. On the contrary, the SSD segment is a niche market in India. However, the SSD market in India is poised to grow threefold over the next six years. The rapid rise in next-genera on connected devices, growing premium & high-end PC market, need for higher performance & capacity storage devices, increasing IT spending, and a growing number of data centers would proliferate the SSD market in India. It has been seen that the rise of next-gen connected devices, growth of gaming, increasing high-performance compu ng and growing high-end PC market has played a significant role in the rapid growth of SSD market. The ever-growing use of high performance devices has proliferated the demand for SSDs across India. However, due to high prices, consumers primarily preferring low cost SSDs with 120GB and 256GB capacity. SSDs are going to witness mainstream adop on across all sectors which will fuel the overall storage market growth in India. To understand the SSDs market growth, DT spoke to the storage market leaders. Take a look.