Universal Flash Storage Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2278
Universal Flash Storage Market size is slated to witness a substantial boom during 2021-2027 with robust growth in areas including consumer electronics, smart wearables, and highspeed data transfer technologies with faster performances and improved responsiveness. The integration of advanced technologies such as AI and IoT into electronics devices and gadgets is expected to boost UFS adoption significantly in the future.
A universal flash storage (UFS) is a device which offers greater transfer speeds with increased reliability compared to flash memory storage and eliminates the need for different types of adapters for different storage cards. UFS cards are fast and can be used in applications requiring quick response and compilation. These flash storage devices are designed to deliver higher throughputs for large data transfers, improved performance, lower power consumption.
Automotive electronics applications are likely to capture a significant share of universal flash storage market by 2027. Rapid advances are being witnessed in the auto industry including the growing implementation electronics components and systems such as advanced driver assistance system (ADAS), navigation systems, infotainment systems, and many others. Growing consumer demand for new advanced in-vehicle features will certainly augment UFS acceptance in automotive electronics.
Geographically, Europe universal flash storage market is expected to be a highly profitable market for universal flash storage technology. The regional growth trends can be attributed the increased consumer spending on the latest tech gadgets and the demand for high-performance and energy-efficient electronics products. The regional usage of advanced smartphones, tablets, smart wearables, and AR/VR products could surge significantly in the forthcoming years. These factors, along with the presence of some of the world’s most esteemed automakers will bolster the regional industry outlook.
Samsung Electronics Co., Ltd., Silicon Motion Technology Corporation, Toshiba Corporation, Cadence Design Systems, Synopsis, Inc., GDA Technologies, Inc., Micron Technology, Arasan Chip Systems, Inc., SK Hynix, and Phison Electronics Corporation constitute the competitive dynamics of a fast-growing global universal flash storage market. Constant technological advances are among the key factors propelling the industry forward. These manufacturers are constantly investing in product innovation to bring advanced, more powerful solutions to customers.
Back in January 2019, Toshiba Memory America had unveiled the industry’s first universal flash storage version 3.0 embedded flash memory devices. These devices are designed to enable faster performance required to support the continuously advancing smartphones, smart devices, AR/VR gadgets, and more. Citing another instance, in June 2021, Samsung Electronics announced new additions to its Galaxy Book line of laptops, introducing the new Galaxy Book Go and Galaxy Book Go 5G, both featuring an embedded universal flash storage (eUFS) of up to 128 GB.
Amid growing environmental concerns, reducing the carbon footprint is a key priority among manufacturers. As a result, these companies are constantly making R&D efforts to enable smart and sustainable production. In November 2019, Samsung’s 512 GB eUFS 3.0 received Carbon Footprint and Water Footprint Certifications from Carbon Trust, a highly esteemed environmental organization based in the U.K.
Analyzing COVID-19 pandemic impact on UFS market trends
The COVID-19 pandemic has had a wide-ranging impact on the industry forecast. Logistics and supply chain slowdown along with the unavailability of workforce in many regions led to halt in electronics production. Additionally, ecommerce companies had discontinued the delivery of non-essential items across various areas, including most electronics devices.
Shifting consumer preferences amid the pandemic also hampered electronics demand significantly. Moreover, automotive production and sales witnessed a decline worldwide. However, certain categories such as computers and peripherals experienced increased sales with majority of consumes working from home. These parameters suggest a notable influence on universal flash storage during the COVID-19 crisis.
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