The global SLC NAND flash memory market accounted for US$ 1.15 Bn in 2018 and is expected to grow at a CAGR of 5.6% over the forecast period 2019–2027, to account for US$ 1.98 Bn by 2027. By volume, the global SLC NAND flash memory market accounted for 142.0 Mn units in 2018 and is expected to grow at a CAGR of 6.4% over the forecast period 2019–2027, to account for US$ 260.5 Mn units by 2027. Currently, the SLC NAND flash memory market is gaining high momentum across the globe. The SLC NAND flash memory market is rising owing to the shift of electronics and automotive production in this region. The rapidly increasing consumer electronics and wireless communication market in developing nations offer a worthy growth opportunity to the SLC NAND flash memory market during the forecast period.
Globally, SLC NAND flash memory market is experiencing an intense growth with regards to new product developments, and deployment for future in the current scenario although it is anticipated to rise at a sluggish pace in the coming years. The market for SLC NAND comprises of several tier1, tier2 and tier3 companies across the globe which capitalize substantial amounts with an objective to develop advanced electronic and semiconductor storage products. There are a few stakeholders in the SLC NAND flash memory ecosystem that are involved in the end-to-end.
Some of the key manufacturers in the SLC NAND flash memory market across the globe include Samsung Electronics Co Ltd., Toshiba Corporation, Western Digital Corporation, Micron Technology Inc., and SK Hynix Semiconductor Inc. among others. Asia Pacific holds the largest market share in terms of revenue and is also anticipated to be the fastest-growing region in the SLC NAND flash memory market during the forecast period. The Asian countries are surrounded by a large number of industrial and economic growth, which foresee the huge application of IoT. China and India are the biggest catalysts of growth in the Asia-Pacific region. Further, countries such as Japan, South Korea, Taiwan, and others are pacing up in offering advanced consumer electronics. On the contrary, countries such as Japan and China have adopted IoT in various application sectors, whereas, technology is still in the nascent phase in other developing countries of APAC such as India, Malaysia, Philippines, and others.
The overall SLC NAND flash memory market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the SLC NAND flash memory market. It also provides the overview and forecast for the global SLC NAND flash memory market based on all the segmentation provided concerning five primary reasons such as North America, Europe, Asia-Pacific, and Rest of the World. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the SLC NAND flash memory market.