Universal Flash Storage Market Size, Share, Trends, 2022 Industry Analysis, Key Drivers, Business Strategy, Opportunities and Forecast to 2031

Kenneth Research, in its repository of market research reports, has recently added a report on Universal Flash Storage Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Universal Flash Storage Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Universal Flash Storage Market products.

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The Global Universal Flash Storage Market was valued at USD 1.57 billion in 2016 and is projected to reach USD 7.3 billion by 2025, growing at a CAGR of 18.63% from 2017 to 2025.

Universal Flash Storage (UFS) is a common flash storage specification for digital cameras, mobile phones and consumer electronic devices. It aims to bring higher data transfer speed and increased reliability to flash memory storage, while reducing market confusion and removing the need for different adapters for different types of card.

Market Dynamics:
1. Market Drivers
1.1 Increasing adoption of IoT
1.2 Rising adoption of high-speed data transfer technologies
1.3 Increasing demand for wearable electronics
1.4 Growing demand for electronic devices with improved performance and responsiveness
2. Market Restraints
2.1 Issues related with the UFS architecture
2.2 Increasing cost associated with the adoption of UFS

Market Segmentation:
The Global Universal Flash Storage Market is segmented on the end user, application, configuration, capacity, and region.

1. End User:
1.1 Laptops
1.2 Automotive Electronics
1.3 Digital Cameras
1.4 Smartphones
1.5 High-Resolution Displays
1.6 Gaming Consoles

2. By Application:
2.1 Mass Storage
2.2 Boot Storage
2.3 XiP Flash
2.4 External Card
2.5 Others

3. By Configuration:
3.1 Removable
3.2 Embedded

4. By Capacity:
4.1 32 GB
4.2 64 GB
4.3 128 GB
4.4 256 GB
4.5 512 GB

5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. Toshiba
2. Micron
3. Samsung
4. Silicon Motion
5. Synopsys
6. Phison
7. SK Hynix
8. GDA IP Technologies
9. Cadence
10. Arasan
11. Avery
12. Tuxera

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Universal Flash Storage Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.

The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

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