Indian SSD Market Registered 317% Growth Y/Y in 2Q21

• WD leads the overall Internal SSD market in 2Q21.
• NVMe SSD shipments registered 54% Q/Q growth in 2Q21.
• External SSD market shipments up 5% Q/Q in 2Q21.

According to India HDD Market Review for 2Q21 from CyberMedia Research, a division of Cyber Media Research and Services Ltd. and member of the Market Research Society of India, the India consumer internal SSD market (SATA and PCIe/NVMe) shipments witnessed 15% decline when compared to 1Q21.

On an Y/Y basis, the overall market registered significant 317% growth.

“Regional lockdowns due to second Covid-19 wave led to this Q/Q decline. However, the market recorded highest shipments in 1H21 ever because of the significant contribution by the leading brands and notable rise in shipments of the lesser-known brands. Increased SSD popularity due to remote working and learning trends has encouraged new entrants in the segment trying to capitalize the opportunity. On the other hand, external SSD shipments were up due to their increased affordability,” observed Shipra Sinha, lead analyst.

2Q21 Highlights    
In the overall India consumer internal SSD market, WD captured 14% market share followed by Crucial capturing 11% and Kingston at third position with 9% share.

In the external SSD market, Samsung stood at the top spot with 53% market share followed by WD at 40%. WD shipments increased by 4% Q/Q, while Samsung shipments growing 8% Q/Q. Seagate captured the third position with 6% market share, with its shipments growing 8% Q/Q.

Future Trends
CMR anticipates the internal SSD market to grow 30-35% Y/Y by the end of 2021 on the back of increased SSD awareness, superior features over traditional HDDs and cost effectiveness.

External SSDs are also expected to grow ~50% Y/Y on a small base.

According to Shipra, “With the arrival of the festive season, 3Q21 is expected to rebound. SSDs are becoming the mainstream drives clearly indicating a positive future. Gaming sector will further give a significant push. Supreme features of NVMe SSDs will ensure its noteworthy contribution along with robust demand for SATA SSDs. The need for better performance and extraordinary experience will drive the future growth of external SSDs.”