Solid state drives (SSDs) are expected to become more affordable in 2023. With their high read/write speeds and increasing storage capacities, SSDs are challenging traditional hard disk drives (HDDs) that have larger form factors and mechanical parts prone to failure. According to a report from market research firm Trendforce (via Tom’s Hardware), enterprise-spec SSD prices are projected to drop by 13 to 18 percent in Q2 2023, with an additional 5 to 10 percent drop in Q3.
Tom’s Hardware notes that these price drops are expected to counterbalance the increasing demand in the market. This is good news for businesses that need to plan for data storage or for those who need to replace hardware urgently due to a disaster recovery.
Why are SSD prices crashing?
The decrease in SSD prices is not due to the generosity of manufacturers. Many SSD producers are intentionally reducing the production of NAND flash chips, a key component of SSDs, in order to raise prices. NAND flash chips are crucial for storing data on solid state devices, as they offer non-volatile memory, allowing data to be stored, read, and written without power.
Currently, there is an abundance of NAND flash chips in the market, and manufacturers are reducing production to create artificial scarcity. However, it may take some time before these actions begin to impact the market, as NAND flash chips are readily available at the moment.
What does this mean for you?
As an owner, IT administrator, or employee, investing in SSDs as the primary means of storing data is a wise decision. TechRadar Pro believes that this is especially true now, while SSD prices are dropping. While hard disk drive prices are also decreasing, it is becoming harder to justify investing in HDDs over SSDs. SSDs are catching up in terms of storage capacity and are no longer significantly more expensive than mechanical drives.
Where should you start?
If you are new to solid state technology, it is recommended to familiarize yourself with the benefits of SSDs through TechRadar’s informative primer. After that, you can explore curated lists of the best affordable SSDs or portable options that connect to devices via USB.
As SSD technology continues to improve, the advantages of relying on solid state drives over mechanical drives become more apparent. It is clear that the revolution in data storage has taken hold.
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Deepak Sen is a tech enthusiast who covers the latest technological innovations, from AI to consumer gadgets. His articles provide readers with a glimpse into the ever-evolving world of technology.
