Global Memory Cards Market 2017-2021
About Memory Cards
A memory card is a device that stores digital information. It is used in mobile phones, cameras, camcorders, tablets, and phablets. Memory cards are non-volatile and can be reprogrammed multiple times. Memory cards are highly adopted because of their compact size and high storage capacity of up to 1TB. However, these storage devices are more susceptible to data loss and corruption. Hence, they must be handled with care.Technavio’s analysts forecast the global memory cards market to decline at a CAGR of (0.44%) during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global memory cards market for 2017-2021. To calculate the market size, the report considers the revenue generated from new shipments/sales of memory cards.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Memory Cards Market 2017-2021
Technavio recognizes the following companies as the key players in the global memory cards market: SanDisk, Kingston Technology, Lexar, ADATA Technology, Transcend Information, Samsung Group, Sony, and Toshiba.
Other Prominent Vendors in the market are: Cactus Technologies, Delkin Devices, Eye-Fi, KINGMAX Technology, PNY Technologies, Starline International Group, and Team Group.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing need of high capacity solution. With the increased penetration of Internet worldwide, it is expected that the number of connected things will be tripled by 2020. This will increase the amount of data transactions, ultimately fueling the need for storage devices with high capacity. As per SD Association, it is expected that 44 trillion GB of data will be created and copied, by 2020. To accommodate this huge growth in data, SD Association has laid down higher bandwidth specifications, which will provide end-users an option to choose from various memory cards.”
According to the report, one of the major drivers for this market is Requirement for storage devices in cameras and camcorders. The popularity of photography is gaining momentum worldwide. With the rise in the number of social platforms like Snapchat, Instagram, Facebook, and Twitter, people are learning tips and tricks to enhance their photography skills to gain appreciation. This increasing familiarity of various features of photography among people is pushing the demand for high-pixel digital cameras and camcorders. The number of pixel in a camera determines the quality of a picture. Therefore, higher the pixel in cameras, higher the quality of pictures and higher the quality of pictures, larger the space required to store them.
Further, the report states that one of the major factors hindering the growth of this market is Rise in use of cloud storage. Cloud storage is a new and more optimized technology of storage media. In cloud storage, data are stored online in the cloud and are accessible from multiple connected points. It is highly recoverable and provides better accessibility, strong security features, and rapid deployment. Cloud storage can archive data and recover it in case of any disaster.
SanDisk, Kingston Technology, Lexar, ADATA Technology, Transcend Information, Samsung Group, Sony, Toshiba, Cactus Technologies, Delkin Devices, Eye-Fi, KINGMAX Technology, PNY Technologies, Starline International Group, and Team Group.