Universal flash storage market for mass storage application to grow at the highest rate

The universal flash storage market is valued at USD 1.65 Billion in 2017 and is estimated to grow at a CAGR of 18.3% to reach USD 4.50 Billion by 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.

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The base year considered for the study is 2016, and the forecast period is between 2017 and 2023. The objective of the report is to provide a detailed analysis of the universal flash storage market by application, capacity, configuration, end use, and geography. The report provides detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the universal flash storage market. The report also gives a detailed overview of the value chain pertaining to the universal flash storage market and analyzes the market trends.

The value chain pertaining to the universal flash storage market starts with research and development, manufacturing, system integration, distribution, and post-sales services. The most important steps in the value chain of the universal flash storage market are research and development and system integration. The end product differentiation is limited to application and capacity. UFS is significantly expensive, and in the beginning, it will be suitable for high-end electronic devices only. UFS is presently being utilized in high-end smartphones, tablets, and ultrabooks. eMMC is expected to continue to be the best choice for mid-to-low-cost mobile applications.

Some major suppliers of universal flash storage are 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).

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