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August 08, 2017 12:23 PM Eastern Daylight Time

LONDON–(BUSINESS WIRE)–According to the latest market study released by Technavio, the global flash memory market is expected to grow at a CAGR of more than 11% during the forecast period.

Global flash memory market is expected to grow at a CAGR of over 11% until 2021. @Technavio

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This research report titled ‘Global Flash Memory Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The growth in the global flash memory market is expected to be driven by the increased demand for mobile devices, PCs, smart wearables, and others. The end-users are increasingly shifting from traditional PCs to relatively more efficient laptops, tablets, and other smart devices, which are equipped with SSD memory at the manufacturing stage. This trend is expected to continue during the forecast period resulting in driving the global flash memory market during the forecast period.

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Technavio’s analysts categorize the global flash memory market into eight major segments by application. They are:

  • Mobile devices
  • PCs
  • Cameras and camcorders
  • Wearable devices
  • Infotainment systems
  • Audio players
  • Instrument clusters
  • Others

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The top three segments based on application for the global flash memory market are discussed below:

Global flash memory market by mobile devices

The global flash memory market by mobile devices is growing at a tremendous rate. There has been a vast surge in the total volume of information being stored, sent, and analyzed through the mobile devices. The devices require an efficient and effective storage system to store the SMS, call records, multimedia files, and others. The mobile devices employ flash memory as a non-volatile form of memory to store all the essential information in the device.

According to Chetan Mohan, a lead computing devices research analyst from Technavio, “Smartphones are portable, inexpensive, and have all improved features, leading to their increased adoption. High-end smartphones in the market offer high image quality with greater resolution, which requires higher memory space. In most of the mobile devices, NOR memory is mostly used to store the OS and default applications, while NAND memory is mostly used to store user data.”

Global flash memory market by PCs

The PCs segment includes all forms of laptops and desktops. Growing demand for SSDs, which is a form of flash memory, and an emerging secondary storage device propel the growth of this segment. The hard disk drive (HDD) is a form of non-volatile storage in a PC, laptop, or gaming consoles.

“The hard drives are basically the metal platters with a magnetic coating. HDD can store various forms of data like reports or movies and even games. An SSD is also similar in terms of performance when compared to a HDD such as saving data while the system is off or while booting the system,” says Chetan.

Global flash memory market by cameras and camcorders

The growing passion for photography among end-users, tourism and adventure activities, wildlife adventure activities, home events, and concerts are the primary factors driving the photography worldwide. With the growing popularity of various social platforms such as Facebook, Instagram, and others, digital cameras are increasingly used to share the videos and images online.

Camcorders used currently are pocket sized and are very portable. They can be carried anywhere without any inconvenience. These pocket-sized camcorders offer varied experiences to the users when compared to traditional camcorders that are mainly used for stable shooting. Camcorders also have a high-definition multimedia interface (HDMI), which helps connect the camcorder to an HD television.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Samsung
  • Toshiba
  • Western Digital
  • SK Hynix

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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