The global SSD retail market experienced significant changes in 2023. The leading five companies increased their market share from 59 percent in 2022 to an impressive 72 percent last year. Kingston maintained its position at the forefront, commanding a remarkable 34 percent of the market, as per the recent data from TrendForce.
Growth in Shipment Numbers
Overall, the sector saw a year-over-year growth of 3.7 percent, with a total of 180 million units shipped in 2023. A substantial portion of this growth was driven by consumers making strategic purchases, buying SSDs before anticipated price increases later in the year.
Competition Among Brands
In the race for market share, ADATA and Lexar closely competed for the second position, each securing 11 percent of the market. Meanwhile, Chinese brands Kimtigo and Biwin captured the fourth and fifth places with 9 percent and 7 percent, respectively, highlighting the rising impact of China in the SSD arena.
Technological Advances Despite Challenges
Notably, Chinese manufacturers have achieved remarkable technological progress, even in the face of U.S. sanctions, successfully transitioning from PCIe 4.0 to PCIe 5.0. Four Chinese firms now account for approximately 23 percent of the global market, further underscoring China's expanding role in the SSD sector.
Various factors contributed to the market's growth, including consumers upgrading their PCs from the pandemic period and gamers, as well as small office/home office (SOHO) creators, demanding drives with larger storage capacities.
