The latest report from research firm TrendForce has revealed who are top SSD vendors and their market share in 3Q24.
The enterprise SSD market experienced notable growth in 3Q24, with revenue surging by 28.6 percent QoQ, largely driven by the rising demand for high-capacity SSDs used in AI applications. Here’s a breakdown of the major vendors and their contributions to the market:
- Samsung
Revenue: $3.2 billion
Market Share: Largest vendor by revenue. Samsung has 43.4 percent share in the global SSD market.
Key Drivers:
Strong demand for high-capacity SSDs, especially sub-8TB models.
Continued growth despite production delays.
- SK Group (SK hynix & Solidigm)
Revenue: $2.058 billion
Market Share: Second-largest vendor. SK Group’s share in SSD market was 27.9 percent.
Key Drivers:
Record shipments for AI-focused SSDs.
Introduction of PCIe 5.0 SSDs with 176-layer TLC NAND and high-capacity QLC models.
- Micron
Revenue: $1.153 billion
Market Share: Third-largest. SSD share of Micron was 15.6 percent.
Key Drivers:
Steady growth in high-capacity enterprise SSD shipments.
Challenges in validating 60TB SSDs may impact Q4 revenue.
- Kioxia
Revenue: $636 million
Market Share: Fourth-largest. Kioxia’s SSD market share was 8.6 percent.
Key Drivers:
Shipment volume increased but lagged in high-capacity SSD sales.
Strengthened partnerships with North American clients.
- Western Digital/SanDisk
Revenue: $332 million
Market Share: Fifth-largest, showing significant QoQ growth. Western Digital achieved 4.5 percent share in the global SSD market.
Key Drivers:
Strategic restructuring into two companies (HDD and NAND/SSD).
Strong demand from North American customers, especially for enterprise SSDs.
SSD Market Trends
The demand for high-capacity models (e.g., used in AI servers) drove procurement volumes up by 15 percent QoQ.
Growth was uneven across vendors, with differences in product focus (e.g., sub-8TB SSDs vs. large-capacity models).
The market is expected to cool in Q4, with reduced procurement volumes and revenue declines anticipated.
Rajani Baburajan
