Global Flash Memory Card Market to Reach US$ 11.0 Billion by 2028, Spurred by Widespread Adoption of Smartphones

According to the latest report by IMARC Group, titled “Flash Memory Card Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global flash memory card market reached a value of US$ 8.4 Billion in 2022. A flash memory card is a storage device used to store data, including pictures, texts, audio, videos, and documents. Also known as a storage card, it utilizes nonvolatile semiconductor memory and offers storage capacity, maximum portability and increased durability and transfer speed. It is compatible with numerous devices, such as laptops, netbooks, and desktops. As they are lightweight and compact in size, the demand for flash memory cards is escalating across the world.

Global Flash Memory Card Market Trends:

Flash memory cards require less power and are convenient to use and less prone to mechanical damage. They are widely utilized in cameras as they do not require external programming and assist in storing images and videos. Consequently, the increasing sales of cameras, along with a considerable rise in the demand for high-resolution images with near-perfect color reproduction, is also propelling the growth of the flash memory card market. Furthermore, the rising penetration of the internet and the increasing reliance on smartphones have escalated the need for data storage, which, in turn, is strengthening the market growth. The leading players are launching product variants with higher storage capabilities, which is anticipated to drive the market further. Looking forward, the market value is projected to reach US$ 11.0 Billion by 2028, expanding at a CAGR of 4.9% during the forecast period (2023-2028).

Market Summary:

• Based on the product type, the market has been segregated into secure digital (SD), memory sticks, multi-media card (MMC), compact flash, picture card and smart media.
• On the basis of the distribution channel, the market has been bifurcated into offline and online segments.
• Based on the application, the market has been segmented into smart devices, cameras and camcorders, and others. At present, smart devices account for the majority of total market share.
• Region-wise, the market has been divided into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Amongst these, Asia Pacific enjoys the leading position in the market.
• The competitive landscape of the market has been examined, with some of the key players being SanDisk LLC, IMEC VZW, Corsair Gaming, Inc., G.SKILL International Enterprise Co., Ltd., Mushkin Inc., Kingston Technology Corporation, Samsung, SK Hynix Inc., Toshiba Corporation, and Transcend Information, Inc.

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