Solid state drives (SSDs) are gradually emerging as preferred digital storage devices over hard disk drives (HDDs). SSDs come with numerous advantages due to which they are gaining significant traction in the market. Due to the increasing implementation across various handheld devices, Transparency Market Research (TMR) projects the global solid state drive market to rise at a CAGR of 40.7% between 2015 and 2022.
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Currently, Asia Pacific leads the global solid state drive market. China, Taiwan, and Japan have been identified as the most lucrative markets for solid state drives in Asia Pacific. The region features the presence of several leading SSD vendors such as Micron Technology, SanDisk Corporation, Samsung Electronics Co., Ltd., Toshiba Corporation and others, which explains the strong potential of the region. Furthermore, demand for laptops and advanced mobile devices is surging rapidly in countries such as Japan, China, and South Korea.
Besides demonstrating a large consumer base, Asia Pacific is also emerging as a lucrative manufacturing base for electronics. For instance, India and China in particular have become manufacturing centers for companies such as Dell, Acer, and HP. Spurred by these factors, TMR expects the Asia Pacific SSD market to expand at a robust 42.5% CAGR in terms of revenue from 2015 to 2022.
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