The memory card market growth is attributed to the requirement for storage devices in cameras and camcorders. However, the rise in the use of cloud storage might hinder market growth. On the other hand, the growth of social media will present new opportunities in the coming years.
The popularity of photography is gaining momentum worldwide. The higher the pixels in cameras, the higher the quality of pictures. The higher the quality of pictures, the larger the space required to store them. The use of memory cards gives the photographer a chance to shoot more freely. The rise in popularity of photography has propelled the demand for cameras and camcorders, which increases the demand for memory cards. Memory cards, such as multimedia and SD cards, use metal connector contacts and not traditional pins and plugs. The increase in the demand for such storage devices is one of the major drivers for the global memory card market.
"The proliferation of UHD content and the high demand for compact storage devices will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Key suggestions from the report:
- By type, the SD card segment accounted for the largest share of the overall revenue in 2020.
- APAC dominated the market in 2020 and is expected to maintain its lead over the forecast period.
- 81% of the market's growth will originate from APAC during the forecast period.
- China is one of the key markets for memory cards in APAC. Market growth in this region will be slower than the growth of the market in South America.
Major Three Memory Cards Companies:
ADATA Technology Co. Ltd.
ADATA Technology Co. Ltd. offers memory cards under the brands, ADATA and XPG.
Cactus Technologies Ltd.
Cactus Technologies Ltd. offers commercial grade SD cards based on MLC NAND which have life cycles in the 18 to 24-month range.
Delkin Devices Inc.
Delkin Devices Inc. offers industrial SD cards and industrial SLC micro sd cards.
Read the 120-page report with TOC on "Memory Cards Market analysis report by type (SD card, compact flash, memory stick, and multimedia card) and geography (APAC, Europe, North America, South America, and MEA), and the segment forecasts during 2021-2025". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats.
More Details: https://www.technavio.com/report/memory-cards-market-industry-analysis
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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