Universal Flash Storage Market in Embedded Segment is Projected to Grow Exponentially by 2024

Global Universal Flash Storage Market report 2024 focuses on the major Types and Applications for the key players. The study report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The market research report is a professional and in-depth study on the current state of global industry.

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By configuration, the universal flash storage market is classified into embedded and externally removable cards. The embedded segment is set to grow in a considerable manner owing to the increasing demand from various industrial sectors. The incorporation of such solutions in laptops, high-resolution displays, and gaming consoles is on the rise considering its capability of delivering high performance. The externally removable cards help in achieving high performance & efficient data transfer. The rising utilization of the technology in drones, VR, and DSLR cameras is providing impetus to the universal flash storage market.

In universal flash storage market, the automotive electronics segment is expected to witness a high growth over the forecast timeline. It can be attributed to the rising demand for processing and storage of a large volume of data. For instance, Samsung introduced eUFS solutions for applications such as automotive. These solutions are aimed at advanced driver assistance systems, dashboards and infotainment systems. In addition, the technology is anticipated to significantly contribute to enhance the performance and manage the audio content & infotainment systems in a better way.

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Continuous improvements & innovations in the technology coupled with its incorporation in high-end tablets and smartphones will drive the universal flash storage market growth. The standard UFS 2.0 provides an enhanced link bandwidth for performance upgrades, improvised security, and power-saving features as compared to the previous versions. It is considered as the most technologically-advanced specification for flash memory-based storage in mobile devices such as smartphones and tablets. The technology has made significant advancements and is a replacement for the eMMC or embedded multimedia card, which is considerably slower.

North America is anticipated to dominate the universal flash storage market due to the growing adoption of the technology in smartphones, tablets, VR products, and smart wearables. The emerging trend of digitization across several industry verticals is expected to contribute to the Asia Pacific universal flash storage market. The growing preference for high-performance and energy-efficient devices along with the increased spending in new technologies further contributes to the regional growth.

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Companies in the universal flash storage market include Samsung Electronics Co., Ltd., Toshiba Corporation, Silicon Motion Technology Corporation, Synopsis, Inc., Phison Electronics Corporation, Micron Technology, Arasan Chip Systems, Inc., Cadence Design Systems, and SK Hynix and GDA Technologies, Inc.