The India Consumer Internal SSD Market Records 69% YoY growth in Q3 2023

Prabhu Ram, Head - Industry Intelligence Group

Prabhu Ram, Head - Industry Intelligence Group

  • SATA SSD remained the top contributor with 66% YoY growth in its shipments.
  • The NVMe SSD market share increased to 22%, its shipments recorded 80% YoY growth.
  • The External SSD shipments recorded 74% YoY growth.

Gurugram/New Delhi, Dec 04, 2023: According to CMR’s India Hard Drive Market Review for Q3 CY2023, The India consumer internal SSD market (SATA and NVMe) witnessed a remarkable YoY growth of 69% in market shipments. Additionally, the overall market demonstrated a 38% QoQ growth.

According to Shipra Sinha, Senior Analyst – Industry Intelligence Group, Cyber Media Research, “The internal SSD shipments surpassed the total shipments from the previous year in the initial three quarters of 2023.The surge in shipments was propelled by enticing offers and promotions provided by brands during the festive season. Additionally, substantial growth in lesser-known brands shipments contributed significantly to the market expansion. The external SSD market also experienced notable growth, driven by a combination of affordability and a diverse range of brands. The category achieved a remarkable 74% YoY growth.”

Q3 2023 Highlights

Market Leadership   

In the overall India Consumer Internal SSD market, WD maintained its leadership capturing 12% market share, closely trailed by Crucial at 7% and Adata securing the third position with a 2% market share. The lesser-known brands collectively captured 47% share.

Within the External SSD market, WD remained the leader with 62% market share and notable 159% YoY increase in its shipments. Samsung secured the second position with 25% market share. Crucial stood at the third position with 4% market share with significant 662% YoY increase in its shipments on a small base.

Future Trends

The overall SSD market is anticipated to witness a YoY growth exceeding 40% by the end of 2023. This robust growth is primarily attributable to the escalating demand for ample and efficient storage, driven by the surge in social media content creation and the continual expansion of e-commerce activities.

“The SSD market will slow down in Q4 2023 after the festive season. Looking ahead, the increasing demand for high-speed data transfer and widespread adoption of cloud computing will fuel growth. SSDs are also gaining traction in the automotive industry and multimedia passenger vehicles. The expanding gaming sector will be another catalyst for market growth. ATA SSDs will continue to reign, but NVMe adoption is on the rise. With new brands entering the fray, the external SSD market is primed for a major boom,” added Shipra.

Notes for Editors

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.

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.