Universal Flash Storage Market Size, Share, And Growth Report 2032

Universal Flash Storage Market: Size

The global Universal Flash Storage market size was worth around USD 4.91 billion in 2023 and is predicted to grow to around USD 21.55 billion by 2032 with a compound annual growth rate (CAGR) of roughly 15.9% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Universal Flash Storage market on a global and regional level.

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Universal Flash Storage Market: Overview

Universal flash storage is a kind of flash storage requirement for digital cameras, mobiles, and consumer electronics. It is designed to bring huge data transfer and enhanced dependence on flash memory storage. The universal flash storage standard includes removable UFS memory cards and eUFS.

Universal Flash Storage Market: Growth Drivers

The large-scale acceptance of wearable electronics along with the strict use of high speed data transfer techniques are predicted to embellish the expansion of the universal flash storage industry over the ensuing years. Apart from this, the surge in the acceptance of connected things will create lucrative growth avenues for the universal flash storage industry over the ensuing years. Nonetheless, huge costs of storage can restrict the expansion of the universal flash storage industry over the ensuing years.

Furthermore, constant improvisations in the technology domain and the use of new techniques in tablets & smartphones will culminate in huge industry growth over the assessment period. Apart from this, escalating demand for the storage & processing of data in the automotive electronics industry will prop up the business landscape in the foreseeable future.

Universal Flash Storage Market: Segmentation

By End Use, The Global Market Is Led By Smartphones And Will Remain The Same In The Years To Come

By end use, the global market is led by smartphones. The increasing in investment by the users for having an enhanced handset with faster performance, improved battery savings, and improved responsiveness, the requirement for high-end handsets is rising. This is expected to power the acceptance of universal flash storage in the smartphones in the years to come.

Universal Flash Storage Market: Report Scope

Universal Flash Storage Market: Regional Analysis

North America To Account For Huge Contributions Toward Overall Market Size By 2025

The expansion of the universal flash storage industry in North America over the forecast timeline can be attributed to the embedding of new features in tablets, iPhones, smartphones, virtual reality items, and smart wearable products. Escalating demand for high-performing equipment as well as energy-conserving devices along with massive allocation of funds on new technologies will proliferate the expansion of universal flash storage industry in North America over the forecast timeline. The presence of reputed manufacturers in the sub-continent will culminate into lucrative demand for universal flash storage in the region over the years to come.

Universal Flash Storage Market: Competitive Players

Key participants profiled in the study are:

• Micron Technology Inc.
• Arasan Chip Systems Inc.
• Synopsys Inc.
• Toshiba Corporation
• GDA Technologies Inc.
• Silicon Motion Technology Corporation
• Cadence Design Systems Inc.
• Samsung Electronics Co. Ltd.
• Phison Electronics Corporation Inc.
• SK Hynix Inc.

The global universal flash storage market is segmented as follows:

By Application:

• Boot Storage
• External Card
• Mass Storage
• XiP Flash

By Capacity

• 32 GB
• 64 GB
• 128 GB
• 256 GB
• 512 GB

By Configuration

• Embedded
• Removable

By End-use

• Automotive Electronics
• Digital Cameras
• Gaming Consoles
• High-Resolution Displays
• Laptops
• Smartphones
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa