SSD prices set to surge in 2024 amid supply constraints

The days of big, cheap SSDs could already be over, according to industry experts, as supply for high-capacity NAND chips becomes constrained.

Over the past holiday season, and the tail end of 2023, we’ve enjoyed seeing heaps of high-capacity SSDs go on sale for seemingly impossibly low prices. But, according to industry insiders, the supply of high-capacity NAND chips is constrained, and consumers will have to pay out of pocket for bigger SSDs in 2024.

In a report published by Tom’s Hardware, the source claimed that SSD prices will “skyrocket”, specifically for high-capacity drives that use multiple 3D NAND chips. Trendforce backs up this claim by stating that 3D NAND prices are set to rise by 15-20%. Consumer PCIe4 SSDs are not only commonplace compared to their market debut several years ago, but they’re incredibly affordable.

Multiple factors involved

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However, a reason why SSDs could be getting more expensive is also because manufacturers have cut production of 3D NAND, allegedly due to lower demand. This could be bad news for prospective PC builders, brands, and companies as it’s getting more expensive straight from the factory, meaning that no brand has the power to magically lower the bill-of-materials cost for the entire product.

This projected increase in prices is alleged to begin in the next two to three months, so you might see prices begin to rise for several drives around March. Our advice? Go shopping for an SSD before you get caught up in an industry-wide price hike that will be sure to affect a huge number of devices.