• NVMe SSD market grew 78% YoY in Q3 CY2022.
• External SSD market shipments declined by 18% YoY in Q3 CY2022.
Gurugram/New Delhi, Nov 28, 2022: 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.
According to Shipra Sinha, Senior Analyst – Industry Intelligence Group, Cyber Media Research, “The arrival of the festive season with attractive deals amped up the sales. This sharp rise is attributed to the notable growth in the lesser-known brand shipments that altogether captured 70% of the overall market. Most of the renowned brands also recorded increase in their shipments thus elevating the overall market size. All the brands geared up to fulfill the massive consumer demand. The external SSD market recorded significant 79% QoQ growth.”
Future Trends
CMR anticipates the Internal SSD market to grow >50% YoY by the end of CY2022 owing to rapid increase in awareness and SSD becoming the mainstream drive.
“Driven by the festive season sales, we anticipate an uptick in internal SSD shipments, followed by a plateau in the post-festive period. The future growth of SSDs will be driven largely by the rise in smart connected devices. SATA SSDs will continue to dominate and NVMe SSDs will have major contribution in the overall market growth. When it comes to external SSDs, increased affordability will catalyze the future market growth.” added Shipra.
Notes for Editors
1. Cyber Media Research (CMR) is a pioneering market intelligence and consulting firm that runs a comprehensive quarterly market update on the India Consumer Storage market. CMR’s India Quarterly Consumer SSD Market Review covers Internal SSD and External SSD sold via distributors and retail outlets. The report accounts for ‘legal’ shipments but does not include bundled or ‘grey’ market shipments or units brought from abroad by individuals as a part of personal baggage.
2. CMR uses the term “shipments” to describe the number of Internal SSD devices leaving the factory premises for OEM sales or stocking by distributors and retailers. For the convenience of media, the term ‘shipment’ is sometimes replaced by “sales” in the press release, but this reflects the market size in terms of units of hard drive devices and not their absolute value.
