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.
External cards are expected to lead the universal
flash storage market based on application in 2017. Universal flash
storage external cards aid in 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 the growing requirements of consumers, such as high-resolution movie
playback, high-resolution 3D gaming, and high-end DSLR camera for
enhanced 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.
Based on capacity, the 512 GB segment is anticipated
to register the highest CAGR between 2017 and 2023. Implementation of
high-capacity universal flash storage solutions, such as 512 GB, is
likely to transform the memory arena in the near future. Universal flash
storage solutions with higher capacity, such as 512 GBI and greater
than 256 GB, are anticipated to be implemented in the embedded
applications. This is due to their extremely phenomenal performance,
along with ultra-high data transfer rates. The ultra-high random
read/write performance of up to 50,000/40,000 IOPS can be achieved with
512 GB universal flash storage solutions.
The market for removable universal flash storage
cards 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.
Based on end use, the universal flash storage market
is dominated by smartphones. The rise in spending by the buyers for
having a better phone with enhanced battery savings, faster performance
and improved responsiveness, the demand for high-end smartphones is
increasing. This is likely to boost the universal flash storage adoption
in the smartphones during the forecast period.
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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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