The market research industry anticipates the size of the universal flash storage market to reach USD 4.3 billion by 2023 and USD 17.8 billion by 2033, and grow at a CAGR of 15.3%. The UFS market is experiencing growth in IoT applications, such as security systems and high-resolution displays, automotive electronics, and gaming consoles.
Companies can contribute to the development of standards by joining the Universal Flash Storage Association. It is estimated that the UFS market will grow significantly in the next few years. In the future, there are expected to be more players entering the market and competition is expected to increase.
Non-volatile flash memory chips are used in universal flash storage as a method of storing and retrieving data. For example, Micron Technology offers SSDs and managed NAND flash memory based on UFS, taking advantage of the growing UFS market.
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With UFS, power consumption is reduced using advanced power management techniques. A JEDEC team that develops standards for both UFS and eMMC, implemented inline encryption in order to prevent eavesdropping and man-in-the-middle attacks. To ensure standardization across hosts and devices, robust encryption mechanisms have been proposed.
Increasing demand for smartphones and high-end tablets commonly use UFS as their storage medium mainly due to its speed and reliability. UFS can improve overall performance by speeding up app loading times, allowing quicker access to data, and boosting performance. The UFS format is often used for storing high-resolution photos and videos in digital cameras and camcorders.
Due to the high write speeds of UFS, large files can be saved more quickly, and files can be transferred to a computer more quickly thanks to the high read speeds as well. Due to the high write speeds of UFS, large files can be saved more quickly, and files can be transferred to a computer more quickly with their high read speeds.
Key Takeaways
- Universal flash storage for embedded systems is expected to hold a CAGR of 15.2% of the global market during the forecast period.
- China is expected to increase demand for universal flash storage by 16.4% CAGR, due to the rapid adoption of advanced technologies.
- Increasing use of electronic devices in the United States will increase the demand for flash storage.
- Japanese automotive production is fueling market growth, which is predicted to reach 14.7% CAGR by 2033.
- The universal flash storage market is expected to grow at a CAGR of 15.1% in the automotive electronics market.
“Universal flash storage demand is anticipated to increase in response to technological advancements and the growth of the automotive industry. As smartphone and laptop sales grow, the market is expected to see increased growth for universal flash storage demand in the coming years,” says an FMI analyst.
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Competitive Landscape
Worldwide, there is stiff competition among players offering universal flash storage. The company will maintain its leadership position in a highly competitive market if it focuses on offering a cost-effective and broader product line.
Key Players
- Toshiba
- Micron
- Samsung
- Silicon Motion
- Synopsys
- Phison
- SK Hynix
- Cadence
- Arasan
- Avery
- Tuxera
Market Developments Include:
- In June 2023, Micron Technology, Inc. delivered qualification samples of its advanced 232-layer 3D NAND-based Universal Flash Storage (UFS) 4.0 mobile solution. Select global smartphone manufacturers and chipset vendors are receiving UFS 4.0 storage solutions with high capacities of up to 1 terabyte (TB). Featuring the industry’s fastest bootup, app launches, and video downloads1, Micron’s new mobile flash storage outperforms the competition on several crucial NAND benchmarks.
- In July 2023, the Asus BR1102 laptop series will include two models that are perfect for children. In addition to reducing eye strain and damage, both displays are certified for low blue-light emissions by the Technical Monitoring Association (TÜV) Rheinland.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the universal flash storage market, the market is segmented on the basis of Configuration (Removable, Embedded), Applications (Mass Storage, Boot Storage, XiP Flash, External Card, Others), End User (Laptops, Automotive Electronics, Digital Cameras, Smartphones, High-resolution Displays, Gaming Consoles) and Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa).
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Key Segments in Universal Flash Storage Market
By Configuration:
- Removable
- Embedded
By Application:
- Mass Storage
- Boot Storage
- XiP Flash
- External Card
- Others
By End Use:
- Laptops
- Automotive Electronics
- Digital Cameras
- Smartphones
- High-resolution Displays
- Gaming Consoles
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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