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.
“Universal flash storage market for mass storage application to grow at the highest rate between 2017 and 2023”
Mass storage needs to store a huge amount of data in a
machine-readable format. The universal flash storage standard follows
the SCSI architecture model, but with a subset of SCSI commands. Due to
this, the universal flash storage standard supports multiple commands
enabling command queuing and multi-threaded programming. This results in
efficient data transfer between the host processor and mass storage.
Owing to this, mass storage application is expected to grow at the
highest rate between 2017 and 2023.
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“256 GB is likely to outpace during the forecast period”
256 GB universal flash storage solutions play a
significant role in the embedded applications wherein processing speed
and high bandwidth is of utmost importance. For instance, due to the
rising consumer awareness for safety, increasing environmental concerns,
growing demand for connectivity, and improved fuel efficiency, the
adoption of electronic components in the automobiles is increasing. On
account of increasing consumer needs, the automotive manufacturers are
steadily improving the overall automobile quality.
“The embedded configuration leads the universal flash storage market in 2017”
The important function of an embedded universal flash
storage solution is to provide long-term product support, along with
foreseeable performance. This is due to the devices utilizing the
embedded universal flash storage configuration such as automotive
electronics, gaming consoles, high-resolution displays, and laptops. The
adoption of embedded universal flash storage configuration is limited
in the initial stages. However, as the technology matures from the
nascent stage of its adoption, this configuration is more likely to be
gaining momentum in the coming years.
“Automotive electronics is projected to exhibit the fastest growth in the universal flash storage market between 2017 and 2023”
The automotive electronics segment is estimated to
witness the fastest growth between 2017 and 2023 in the universal flash
storage market. This is primarily attributed to the growing demand for a
huge amount of data processing and storage in the automobiles. In
addition, with the advent of connected cars and technological
advancements, the automakers are focused on adopting advanced memory
solutions. Universal flash storage is anticipated to be a game changer
in the automotive electronics arena. For instance, on September 14,
2017, Samsung announced to establish the Samsung Automotive Innovation
Fund to exclusively focus on the automotive market. This fund is worth
USD 300 million and will utilize this fund for securing connected car
technologies and autonomous driving, such as connectivity solutions,
security, artificial intelligence, smart sensors, high-performance
computing, and machine vision.
“North America is anticipated to lead the universal flash storage market between 2017 and 2023”
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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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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