NAND Flash Market to Reach USD 74,330 Million by 2027 at a CAGR of 22%

BANGALORE from India, September 20, 2021 / PRNewswire / – The World NAND Flash Market is segmented by type (MLC NAND, TLC NAND), by application Consumer Electronics, SSD (Solid State Disk)). The report covers the analysis of global opportunities and industry forecast from 2021 to 2027. It is published in Evaluate reports under Category Hard drives and computer storage.

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In 2020, the global NAND Flash market size was $ 18,480 million and it is planned to achieve $ 74,330 million by the end of 2027, with a CAGR of 22.0% in 2021-2027.

NAND flash memory is a nonlinear, macro-cell mode internal memory that provides a low cost, high performance solution for large capacity semiconductor memory applications. NAND flash memory has large capacity and fast overwrite speed, which makes it perfect for storing large amounts of data. As a result, integrated products such as digital cameras, MP3 players, and memory cards have become more popular.

The major factors driving the growth of the NAND Flash Market are:

An increase in the number of PCs, smartphones, and other electronic gadgets is expected to drive the growth of the NAND Flash market.

Other consumer products, including tablets and cameras, as well as industrial equipment and sensors, automotive systems and medical devices, rely on NAND flash memory, which is built into their processors and stores both data and code. The NAND flash market will continue to grow as the demand for huge data processing for artificial intelligence and machine learning applications increases.

One of the advantages of NAND flash memory is that it stores data in a non-volatile manner. Unlike DRAM, which requires constant power to preserve data, NAND memory retains data even when the power is off, making it suitable for portable storage. Such advantages are expected to increase the adoption of NAND flash memory in various applications, thereby boosting the growth of the NAND flash market.

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TRENDS AFFECTING THE GROWTH OF THE NAND FLASH MARKET

Rising demand for data storage in the consumer electronics and enterprise storage industries is fueling the growth of the NAND flash market. The growing desire for phones with more capabilities, such as video, camera, games, and music, has led to increased demand for large storage systems in the global electronics market. These reasons are expected to drive global demand for NAND flash memory. NAND technology is also used in portable devices, in addition to smartphones.

The increasing use of NAND flash memory for SSD applications is expected to further fuel the growth of the NAND flash memory market. Prices for NAND flash memory are low enough that new primary storage devices for client computers and servers, such as SSDs, are now feasible. SSDs outperform traditional hard drives in terms of performance and longevity. SSDs are all semiconductor devices with no moving parts. As a result, SSDs don’t have the mechanical latencies that hard drives do. SSDs can withstand much more shock and vibration than hard drives because they have no moving parts, making them perfect for a wide range of portable and mobile applications. SSDs were previously only suitable for demanding server applications, as they were developed with DRAM memory chips and were expensive. SSDs are now used in a wide variety of applications, from consumer computing to business and military computing, thanks to the drop in prices of NAND flash memory.

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NAND FLASH MARKET SHARE ANALYSIS

On the basis of applications, the consumer electronics segment is expected to be the most lucrative. Because NAND flash memory enables inexpensive storage in incredibly small amounts, it is intrinsically linked to the consumer electronics industry. Removable flash cards and USB flash drive applications have dominated NAND consumption since the digital revolution and the proliferation of digital cameras.

The Asia Pacific The region is expected to be the most lucrative market during the forecast period. This is due to the growing number of consumer electronics devices in the region and the presence of major NAND flash manufacturers.

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NAND FLASH MARKET SEGMENTATION

By type

By application

  • Consumer electronics

  • SSD (solid state disk).

Key companies

  • Samsung Electronics

  • Toshiba / SanDisk

  • SK Hynix Semiconductor

  • Micronic technology

  • Company intel.

By region

  • North America

  • Asia Pacific

  • Europe

  • Latin America

  • Middle East & Africa

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SIMILAR REPORTS

– In 2020, the NAND flash memory market the size was $ 50,830 million and it is expected to achieve $ 105,540 million by the end of 2027, with a CAGR of 11.0% in 2021-2027.

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