The flash memory market is growing rapidly. Market growth is majorly attributed to the augmenting demand for highly scalable memory devices from smartphones, laptops, and computer industries.
Besides, the rising uses of connected wearable devices create substantial market demand. Embedded systems rely on SPI NOR flash for boot code and parallel NAND flash for data storage.
On the other hand, several markets are migrating to SPI NAND flash memory products. Not only does this reduce BOM costs, but the devices offer superior performance, but also increased reliability, faster boot-up, and higher write and erase speeds in a smaller form factor. Resultantly, deployments of flash memory for industrial applications are growing continually, escalating the growth of the market.
According to Market Research Future (MRFR), the global flash memory market valuation is estimated to grow at a significant CAGR throughout the review period (2016-2027). Technological advances in storage technologies accelerate the growth of the market. Besides, the rising usages of the internet and smart connected devices foster the flash memory industry, generating the data.
Additionally, the increasing demand for non-volatile RAM to provide conditional access security keys and hack-resistance storage with the excellent content and network access protection influences the market growth. Increasing usages of high capacity OTP NOR flash memory in next-generation set-top box chips influence the market growth.
Moreover, the increasing demand for flash memory positively impacts the flash memory market growth, offering effective inventory control, and tracking systems that can efficiently accommodate changing business conditions. Rising adoption of flash memory devices in increasing numbers of businesses worldwide pushes the development of the market. Conversely, high costs associated with the purchase and deployments of flash memory are a significant factor projected to obstruct the market growth.
Flash Memory Market- Segments
The report is segmented into four dynamics:
By Type : NOR and NAND.
By Storage Technology : Magnetic Storage, Optical Storage, Electronic Memories, and others.
By Application : Smartphone, Tablet PC, Solid State Drives (SSD), Handheld Media Player Devices, and others (DSC- Digital still Camera).
By Regions : Asia Pacific, Americas, Europe, and Rest-of-the-World.
Global Flash Memory Market - Regional Analysis
The Asia Pacific region dominates the global flash memory market. The significant market share attributes to rising technological advances and adoption of NOR and NAND memory devices in various applications. Besides, the presence of notable industry players and rapid economic growth spurted industrialization in the region drive the flash memory market share.
Moreover, increasing numbers of start-ups in the region foster the flash memory market growth, demanding backup facilities for increasing data accumulation. Japan, China, India, and South Korea are major markets for the Flash memory in the region. The APAC flash memory market is projected to retain its dominance throughout the estimated period.
North America stands second in the flash memory market. The growth is driven by the strong presence of many notable players and well-established development centers, allowing the early adoption of advanced storage technologies. Additionally, broad uptake and advances in storage technologies boost the growth of the regional market. Furthermore, increasing investments transpired in technology developments propel regional market growth.
Also, the demand for reliable backup and recovery systems support market growth in the region. The North American flash memory market is expected to witness rapid growth during the assessment period.
Europe's flash memory market is growing rapidly. Factors such as increasing numbers of businesses and technological upgrades propel the flash memory market. Countries like France, Germany, Italy, and the UK are expected to contribute to regional market growth continually. Besides, the increasing economic growth in the region acts as a significant tailwind for the market growth. The European flash memory market is estimated to create a substantial revenue pocket in the next six years.
Global Flash Memory Market - Competitive Analysis
Highly competitive, the flash memory market appears fragmented due to the presence of many key players. Strategic partnerships, mergers acquisitions, collaboration, expansion, and product/ technology remain flash memory market trends to gain a larger competitive share.
Players leading the global flash memory market include Toshiba (Japan), Samsung (South Korea), Intel (US), IM Flash (US), SanDisk (US), Micron Technology, Inc., (US), SK Hynix (South Korea), Cypress Semiconductor Corporation (US), STMicroelectronics (Switzerland), and Qimonda (Germany), among others.
More Related Report@
silicon wafer manufacturer- https://www.marketresearchfuture.com/reports/silicon-wafers-market-2052
surface mount technology machines- https://www.marketresearchfuture.com/reports/surface-mount-technology-equipment-market-2248
what is a flash memory- https://www.marketresearchfuture.com/reports/flash-memory-market-986
reiker inclinometer- https://www.marketresearchfuture.com/reports/inclinometers-market-5141
2017 fitness trackers- https://www.marketresearchfuture.com/reports/fitness-tracker-market-4336