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Global NAND Flash Market to Reach $89B by 2022
September 8, 2017 | Persistence Market ResearchEstimated reading time: 2 minutes
The growing need for additional electronic storage in various electronics and surge in the need for areal density in the electronic products is projected to impact growth of the global market of NAND flash market positively, according to Persistence Market Research. The market analyst projects the global NAND flash market to reflect a CAGR of over 18% through 2022.
Factors Fueling Growth of the Global Market
Surge in need for a larger storage capacity in various industries is projected to rev up demand for the NAND flash drives globally. Growing agricultural activities have revved up demand for computing systems that have high-end features. Introduction of enhanced technologies and IoT in the agricultural activities has revved up demand for non-volatile and extensive storage system. These factors are projected to boost demand for the NAND flash devices in the agricultural sector.
In addition to the agricultural industry, rising need for a larger storage system in the electronics industry is projected to stimulate demand for the NAND technology. Growing demand for technically enhanced smartphones has led manufacturers to integrate various features that incorporate access to gaming, video, music and camera. However, in order to incorporate these features there is a growing need for a larger storage system in these electronic gadgets.
Mobile Phones to Reflect a Significant Growth
By type, the MLC segment is projected to represent more than US$ 6,000 Mn in the global market of NAND flash by 2017-end. North America is projected to represent a major market for NAND flash in the global market.
By application, mobile phone is projected to reflect a relatively high CAGR in the NAND flash market globally. SSD, among other applications, is projected to represent a relatively high growth in terms of revenue in the global market. The SSD segment is predicted to represent more than $13 billion in the NAND flash market globally by 2022-end. The mobile phone segment is projected to represent a significant growth in terms of revenue in the global market, after the SSD segment by 2022-end.
By density, the ‘256 GB and above’, among other densities, is projected to reflect a relatively high CAGR growth in the NAND flash market globally during the projected period. 128 GB among other densities is projected to represent a relatively high growth in terms of revenue in the global market by year-end. The 128 GB segment is projected to represent more than $3 billion in the NAND flash market globally by the end of the year. The ‘256 GB and Above’, among other densities, is projected to represent a significant growth in terms of revenue in the global market, after the 128 GB segment by 2017-end.
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