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Universal Flash Storage Market: By Configuration (Removable, Embedded), By Capacity (32 GB, 64 GB, 128 GB, 256 GB, 512 GB), By Application (Mass Storage, Boot Storage, XiP Flash, External Card,), By End User (Laptops, Automotive Electronics, Digital Cameras, Smartphones, High-Resolution Displays, Gaming Consoles), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Universal Flash Storage is specific flash storage for mobile phones, digital cameras, and other consumer electronic devices. It was specially designed to improve flash memory storage's data transmission speed and reliability while minimizing market confusion and getting rid of the need for various adapters for various card kinds. Both firmly fixed packages (embedded) inside a device (eUFS) and removable universal flash storage memory cards are covered by the standard. One of Flash memory's main benefits over traditional hard drives in the world of computing, in general, is its speed of writing and reading. The write speed determines how quickly we can transfer a file into memory, and the read speed determines how quickly the data is read from storage.
Universal Flash Storage to surpass USD 23.1 billion by 2032 from USD 3.36 billion in 2021 at a CAGR of 19.2% in the coming years, i.e., 2022-32. The use of mobile phones and multifunctional smartphones as well as the rise in storage requirements are the main factors influencing the growth of the Universal Flash Storage Market. The growth of the market is also driven by the rising demand for consumer electronics.
Universal Flash Storage Market is categorized on the basis of Capacity into 32 GB, 64 GB, 128 GB, 256 GB, and 512 GB. In 2021, the 32 GB market category had the larger market share. This is due to the rising popularity of smartphones and computers. 32 GB versions have been released by a number of manufacturers, including Samsung, Micron, and others, and are currently installed in many devices. By the end of 2032, the 64 GB is anticipated to hold a considerably larger market share.
Universal Flash Storage Market is categorized on the basis of Application into Mass Storage, Boot Storage, XiP Flash, External Card, and Others. The mass storage application is expected to expand more speedily over the forecast period. Massive amounts of data must be kept in a machine-readable format in mass storage. The UFS standard uses a subset of SCSI instructions and adheres to the SCSI architecture concept. As a result, the UFS standard enables multiple commands, enabling programming with multiple threads and command queuing. Hence, data flow between the host CPU and mass storage is effective. Owing to this, the mass storage application is probably going to grow the fastest during the prediction period.
The embedded multimedia card (eMMc), which is used in several electronics devices worldwide, is well-known in the consumer electronics sector. Although embedded multimedia cards are the most popular mobile storage interface today, they are inefficient when reading and writing data simultaneously since they are parallel interfaces that can only send data in one direction. On the other hand, UFS enables simultaneous reading and writing of data when used with a serial interface, improving performance and responsiveness. Therefore, the demand for Universal Flash Storage in the market will be driven by the necessity for it in consumer electronics.
In the upcoming years, it is anticipated that the growth of the Universal Flash Storage Market would be aided by the adoption of high-speed data technologies and the Internet of Things. When combined with the Universal Flash Storage, the high speed and loT technologies offer some more benefits to Universal Flash Storage, such as the ability to administer applications easily using wireless IoT. This will simplify in monitoring and managing the storage levels across a large surface area. Therefore, a rise in demand for loT technology and fast data transmission will result in a rise in demand for Universal Flash Storage, which will fuel the Universal Flash Storage Market in future.
Flash storage memory hardware manufacture calls for meticulous handling and strict process adherence. The requirement for ongoing training of the labor force is due to the rapid advancement of technology. The absence of training facilities and stringent labor laws, which include prohibitions on overtime work, employee headcount, and work hours for female employees, are anticipated to be problematic. These factors ultimately hinder the growth of the Universal Flash Storage Market.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Universal Flash Storage Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the market in terms of value and is predicted to continue in the near future. Consumers' quick adoption of high-tech devices like drones, e-readers, tablets, smartphones, wearable gadgets, and AR-VR products is credited with this increase.
With a phenomenal CAGR, Asia-Pacific also contributes significantly to the global Universal Flash Storage Market. The increased demand for electronic gadgets and the quick uptake of high-speed data transport technologies are credited with this growth.
The COVID-19 pandemic has resulted in rising expenses, manufacturing setbacks, and decreased sales. Global regulatory organizations enforce lockdown and restrictions and have advocated tight standards such social isolation and social distancing, which have a negative impact on the Universal Flash Storage Market.
REPORT ATTRIBUTE |
DETAILS |
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Market Size Value in 2021 |
USD 3.36 billion |
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Revenue Forecast in 2032 |
USD 23.1 billion |
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Growth Rate |
CAGR of 19.2% from 2022 to 2032 |
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Base Year for Estimation |
2021 |
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Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
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Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments Covered |
Configuration, Capacity, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key Companies Profiled |
Samsung, Toshiba Corporation, Sony Corporation, ST Microelectronics, Micron Technology, Avery Dennison, Texas Instruments, SK Hynix, Synopsys, Cadence, Silicon Motion, Phison Electronics Corp., GDA IP Technologies, Arasan Chip Systems Inc., Tuxera, and Other Prominent Players. |
The Universal Flash Storage Market size was estimated at USD 3.36 billion in 2021 and is expected to reach USD 23.1 billion in 2032.
Universal Flash Storage is specific flash storage for mobile phones, digital cameras, and other consumer electronic devices. It was specially designed to improve flash memory storage's data transmission speed and reliability while minimizing market confusion and getting rid of with the need for various adapters for various card kinds.
The 64 GB and Mass Storage segments accounted for the larger share of the Universal Flash Storage Market.
Key players in the Universal Flash Storage Market are Samsung, Toshiba Corporation, Sony Corporation, ST Microelectronics, Micron Technology, Avery Dennison, Texas Instruments, SK Hynix, Synopsys, Cadence, Silicon Motion, Phison Electronics Corp., GDA IP Technologies, Arasan Chip Systems Inc., Tuxera, and Other Prominent Players.
The use of mobile phones and multifunctional smartphones as well as the rise in storage requirements are the main factors influencing the growth of the Universal Flash Storage Market.
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