“Universal flash storage market to exhibit robust growth between 2017 and 2023”
The universal flash storage market is estimated to grow from USD 3.59 billion in 2017 and is estimated to reach USD 9.97 billion by 2023, at a CAGR of 18.6% during 2017–2023. This growth can be attributed to the growing demand for electronic devices with faster performance and improved responsiveness, rising adoption of high-speed data transfer technologies, and increasing demand for wearable electronics.
“External card is expected to lead the universal flash storage market during the forecast period”
External cards are expected to lead the universal flash storage market in 2017. Universal flash storage external cards support achieving power-efficient data transport, enhanced performance, and doubling throughput via command queuing. Key players are focusing on developing innovative memory solutions to cater to their growing requirements of consumers such as high-resolution movie playback, high-resolution 3D gaming, and high-end DSLR camera for enhancing their multimedia experience. For instance, Samsung Electronics Co., Ltd., in July 2016, launched the removable memory card line-up, with a capacity up to 256 GB. These removable memory cards are based on the JEDEC universal flash storage 1.0 card extension standard. These cards are meant for high-resolution mobile shooting devices such as 3D VR cameras, DSLR cameras, drones, and action cams.
“Removable configuration is projected to witness the fastest growth in the near future”
The universal flash storage market for the removable configuration is estimated to witness the fastest growth in the coming years. Owing to the faster performance and improved responsiveness of the consumer electronic devices, universal flash storage cards are anticipated to gain popularity in the near future. Removable universal flash storage cards support multiple commands and enable simultaneous reading and writing, doubling throughput. Due to this, most power-efficient data transport and highest performance in the consumer electronic devices is achieved.
“Asia Pacific to be the fastest-growing universal flash storage market in the coming years”
Asia Pacific is expected to be the fastest-growing region in the universal flash storage market during the forecast period. The digital era has spurred various technological innovations in this region. In addition, this region is witnessing steady growth in the technology spending. Leading enterprises such as CIOs and CTOs are having a positive outlook of the market. Shifting consumer preferences for high-quality video recording, increasing proliferation of 4K technology, and rising preference for energy efficient devices are expected to boost the universal flash storage market growth.
Breakdown of the profiles of the primary participants in the report has been given below:
- By Company Type: Tier 1 – 37%, Tier 2 – 33%, and Tier 3 – 30%
- By Designation: C–Level Executives – 71% and Directors – 29%
- By Region: North America – 32%, Europe – 28%, APAC – 26%, and RoW – 14%
Key players operating in the universal flash storage market include Arasan Chip Systems Inc. (US), Cadence Design Systems, Inc. (US), GDA Technologies Inc. (US), Micron Technology, Inc. (US), Phison Electronics Corporation, Inc. (Taiwan), Samsung Electronics Co., Ltd. (South Korea), Silicon Motion Technology Corporation (US), SK Hynix, Inc. (South Korea), Synopsys, Inc. (US), and Toshiba Corporation (Japan).
The universal flash storage market research report covers different segments?application, capacity, configuration, end use, and geography. The report covers four major geographies ?North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
- Illustrative segmentation; analysis; and forecast of the market by application, capacity, configuration, end use, and geography give an overall view of the universal flash storage market
- Value chain analysis to provide in-depth insights into the universal flash storage market
- Major drivers, restraints, opportunities, and challenges for the universal flash storage market
- Detailed competitive landscape, along with the key players, in-depth analysis, and revenue of the key players