The global flash memories market is expecting a growth during the forecast period (2016-2027) with a stellar CAGR propelled by an ever-widening horizon of digital devices as revealed in the report published by Market Research Future (MRFR).
Overview
Advancing technologies have made features such as high data transfer rate, less power consumption, portability, lessened heat generation and longevity, the most requisite components relying on which major associated markets can plan their expansion. The resultant product is flash memories that are infusing considerable influence in increasing use of computer and mobile phones and is creating a sustainable demand for itself. Aptly supported by semiconductor technology, these devices are now replacing traditional hard disks at a considerable pace. The global flash memories market is expecting a growth during the forecast period (2016-2027) with a stellar CAGR propelled by an ever-widening horizon of digital devices as revealed in the report published by Market Research Future (MRFR).
Increasing use of smartphones and tablets on the one hand, and on the other, dependency on online cloud services can be considered a solid foundation for the flash memory market. Furthermore, pictures, video archiving, games and video streaming are cementing its long-term plans. Solid state drives (SSDs) and other flash memory products are also gaining much traction in this sector and can provide consistent high-level performance in terms of inputs/outputs as compared to hard disk drives. Falling price is also a significant factor that is driving the market ahead.
Segmentation
The global flash memory market can be segmented by type, storage technology, and application.
Based on type, the market can be segmented into logical not or (NOR) and not and (NAND).
On the basis of storage technology, the market can be segmented into magnetic storage, optical storage, and electronic memories.
Application-wise segmentation of the market includes smartphone, tablet and PC, solid state drives (SSD), handheld media player devices and others (DSC- Digital Still Camera).
Regional Analysis
Geographical analysis of the market spans across regions namely Asia Pacific (APAC), Europe, North America, and the Middle East & Africa (MEA).
A booming market has ensured the APAC’s supremacy in the global market. China and India are two nations that are showing considerable involvement in the expanding market by generating significant demand for the component. China is the regional leader whereas, Japan is following the suit.
North America holds the second-best record followed by Europe. These two regions are experiencing a rising market for advanced smartphones and laptops that have given precedence to the flash memory market.
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