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 research methodology used to estimate and forecast the universal
flash storage market begins by capturing data on key vendor revenues
through secondary research. The secondary sources include IEEE journals,
automation world magazines, manufacturing automation magazines, and
leading players’ newsletters. Vendor offerings are also considered to
determine the market segmentation. The bottom-up approach is employed to
arrive at the overall size of the global universal flash storage market
from the key players’ revenues. After arriving at the overall market
size, the total market is split into several segments and subsegments.
Thereafter, these are verified through primary research by conducting
extensive interviews with people holding key positions in the industry,
such as CEOs, VPs, directors, and executives. Market breakdown and data
triangulation procedures are also employed to complete the overall
market engineering process and arrive at the exact statistics for all
the segments and subsegments.
North America holds the dominant position in the
universal flash storage market owing to the rapid adoption of advanced
technology products by the consumers, such as e-readers, drones,
smartphones, tablets, wearable electronics, and AR-VR products.
Major 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).
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