ID: MRFR/SEM/0480-CR | January 2021 | Region: Global | 162 pages
Global Flash Memory Market valued at USD 62.06 Billion in 2019 and is expected to reach USD 80.0 Billion by 2025 with a CAGR of 4.95% during the forecast period, 2020–2025.
Flash memory is a technology that is used to store information and data in the absence of a power supply. In the other form, it is a kind of non-volatile computer storage. The market of flash memory has been growing with the evolution of computers and media devices and now flash memory is not only used in computers, but various applications use flash memory. Flash Memory devices are expected to show significant growth during the forecast period. The demand for flash memory solutions is growing rapidly in the global market owing to various factors, including the growing need for high-speed and scalable memory devices.
Asia-Pacific accounted for the largest market share of 35.78% in 2019, with a market value of USD 22,205.4 million; the market is expected to register the highest CAGR of 6.25% during the forecast period. Europe was the second-largest market in 201; the market is projected to exhibit a CAGR of 4.18%.
Global Flash Memory Market, By Type (2019)
Source: MRFR Analysis
Based on type, the global flash memory market has been segmented into NAND Flash Memory, NOR Flash Memory. The NAND flash memory segment accounted for the larger market share of 73.68 % in 2019, with the highest market value; it is expected to register a CAGR of 5.20% during the forecast period. Flash memory, also known as flash storage, is a type of non-volatile memory that helps in erasing data in units known as blocks and rewrites the data. Flash memory is widely used for storing data and data transfer in consumer devices, enterprise systems, and other industrial applications. NAND flash memory is one of the types of flash storage that is used to accelerate the performance of I/O (Input-Output) intensive applications. NOR flash memory plays an integral part in embedded systems. It allows quick access to any location in the memory array. It is faster to read than NAND flash, but it is more expensive and takes longer to erase the data and rewrite revised data. Therefore, NAND flash memory can more cost-effectively support smaller erase blocks compared to NOR flash.
Global Flash Memory Market, by region, has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Central & South America. Asia-Pacific accounted for the largest market share of 35.78% in 2019, with a highest market value; the market is expected to register the CAGR of 6.25% during the forecast period. North America was the second-largest market in 2019, with the second-highest CAGR.
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
High data transfer rate of flash memory devices and low power consumption are major drivers of the global flash memory market.
High costs per gigabyte can restrain the global flash memory market growth.
APAC can lead in the global flash memory market.
IM Flash, SK Hynix, Micron Technology, Inc., Toshiba, Cypress Semiconductor Corporation, STMicroelectronics, Samsung, Intel, SanDisk, and Qimonda are manufacturers in the market.
Launch of new products and acquisitions are prime strategies used by players in the global flash memory market.