SSD Market To Reach $67 Billion In 2028
StorageNewsletter.com, April, 5th 2023
SSD revenues dropped by ~14% in 2022, according to analyst firm Yole Group. The outlook for 2023 is worrisome, but long-term perspectives to 2028 are attractive.
The NAND flash memory market dynamic was positive in 2021 and the first months of 2022. However, several simultaneous macroeconomic trends, including global inflation, geopolitical tensions, and electronics manufacturer inventory digestion, have led to demand slowing dramatically. Consequently, 2022 was a bad year for SSDs with an approximately ~14% Y/Y decline compared to 2021, to $29 billion from $34 billion.
The outlook for 2023 is worrisome as slow inventory digestion and weak economy will persist, leading to significant near-term oversupply and therefore, a lower pricing outlook. For the long-term, the total SSD market size will increase from $29 billion in 2022 to $67 billion in 2028, with a CAGR for 2022-2028 of approximately 15%.