Lucintel anticipates that North America will be the fastest growing region in the universal flash storage market

   October 21, 2019
According to a new market report by Lucintel, the future of the universal flash storage market looks promising with opportunities in automotive electronics, digital cameras, gaming consoles, high-resolution displays, laptops, and smartphones markets. The universal flash storage market is expected to grow with a CAGR of 18% from 2019 to 2024. The major drivers for this market growing demand for electronic devices with faster performance and improved responsiveness, rising adoption of high-speed data transfer technologies, and increasing demand for wearable electronics.

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In this market, 32 GB, 64 GB, 128 GB, 256 GB, and 512 GB storage capacities are used in various storage applications, such as boot storage, external card, mass storage, and XiP flash storage. Lucintel forecasts that external cards will remain the largest application segment, as such cards enhance the performance and provide power-efficient data transport. Based on capacity, the 512 GB storage segment is expected to witness the highest growth over the forecast period.

Within the universal flash storage market, smartphones will remain the largest end use industry during the forecast period due to increasing demand for premium phones and increasing demand for faster performance and high data storage features in smartphones.

North America will remain the largest market over the forecast period due to the increasing demand for smartphones, wearable electronics, and AR-VR products. Samsung, Toshiba, SK Hynix,  Micron, Phison, Silicon Motion, Synopsys, Cadence, and Arasan are among the major manufacturers of universal flash storages.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the universal flash storage market by capacity, configuration, application, end use industry, and region. Lucintel has prepared a comprehensive research report titled “Universal Flash Storage Market 2019-2024: Trends, Forecast, and Opportunity Analysis”. This Lucintel report serves as a catalyst for growth strategies, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the universal flash storage market by capacity, application, configuration, end use industry, and region as follows:

By Capacity [$M shipment analysis for 2013 – 2024]:

·         32 GB

·         64 GB

·         128 GB

·         256 GB

·         512 GB

By Application [$M shipment analysis for 2013 – 2024]:

·         Boot Storage

·         External Card

·         Mass Storage

·         XiP Flash

By Configuration [$M shipment analysis for 2013 – 2024]:

·         Embedded

·         Removable

By End Use Industry [$M shipment analysis for 2013 – 2024]:

·         Automotive Electronics

·         Digital Cameras

·         Gaming Consoles

·         High-Resolution Displays

·         Laptops

·         Smartphones

·         Others

By Region [$M shipment analysis for 2013 – 2024]:

  • North America

    • United States

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • Italy

  • Asia Pacific

    • China

    • Japan

    • India

  • Rest of the World

This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit

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