Global NAND Flash Market Likely to Grow at High Double-digit CAGR through 2022
October 24, 2017
The global NAND flash market is expected to register an impressive CAGR, and will represent a value of over US$ 88,000 Mn by the end of 2022. The future growth of global NAND flash market looks...
A new report offering analysis and forecast on the global NAND flash market has been added to the rich repository of Market Research Reports Search Engine (MRRSE). The report titled “NAND Flash Market: Global Industry Analysis (2012 – 2016) & Forecast (2017 – 2022)” is a comprehensive source of information for stakeholders looking to gain credible insights into the NAND flash market over the period of next five years.
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According to the report, growing need for expansive electronic storage, combined with demand for areal density is propelling the growth of the global NAND flash market. The future growth of global NAND flash market looks promising, with a CAGR of 18% projected for the market. The report projects that the global NAND flash market will be positively impacted by the broader trends in the IT industry. The adoption of IoT and Big Data are two key, yet important macro-economic events that can have an impact on the growth of the global NAND flash market during the forecast period. According to the report, the consumer electronics industry will also create sustained demand for NAND flash market during the forecast period. Demand for advanced NAND flash systems is also expected to remain steady on account of demand from the agricultural industry.
North America is one of the most important markets for NAND flash globally. There are several reasons for the prominence of North America as a major market for NAND globally. The U.S. remains the hub for innovation in NAND flash technology, and a number of leading players are headquartered in the U.S. Also, smartphone penetration and use of technology in agriculture activities is also high in the U.S., which further promotes the growth of the market in this region. Overall, the North America NAND flash market is likely to grow at a brisk pace during the forecast period.
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Mobile phones and SSD remain among the chief applications of NAND flash. According to the report, mobile segment will continue to grow at a steady pace, and offer sustained growth opportunities to manufacturers during the forecast period. Demand for NAND flash systems from the SSD industry is also likely to grow during the forecast period.
By density, demand for “256 GB and above” and 128 GB is high, and the trend is likely to continue during the forecast period. These memory density type segments will continue to offer opportunities to manufacturers over the forecast period.
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