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The Global NAND Flash Memory Market Is Estimated To Be Valued At US$ 66.52 Bn In 2022 And Is Expected To Exhibit A CAGR Of 5.6%

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sachin sadgir
The Global NAND Flash Memory Market Is Estimated To Be Valued At US$ 66.52 Bn In 2022 And Is Expected To Exhibit A CAGR Of 5.6%

Market Overview:

NAND flash memory is a type of non-volatile storage technology which stores data in electrically erasable programmable read-only memory chips. NAND flash memories offer advantages like high data transfer speed, shock resistance and durability. They are widely used in USB flash drives, memory cards, solid-state drives and other applications due to their small size, light weight and high storage capacity.

Market key trends:

One of the major trends in the NAND flash memory market is the rising adoption of Solid State Drives (SSDs). SSDs are increasingly replacing Hard Disk Drives (HDDs) in applications like data centers, laptops, desktops and other devices due to advantages of SSDs like higher durability, lower power consumption and faster read/write speed compared to HDDs. The increased usage of SSDs is expected to drive the demand for NAND flash memory in the coming years.

Segment Analysis

The global NAND flash memory market is segmented on the basis of type, application, and geography. Based on the type, the market is categorized into SLC, MLC, and TLC NLC. The TLC NLC segment dominates the market as it offers high storage capacity at low costs compared to other types. The technology enables storage of 3 bits of data per cell.

Key Takeaways

The global NAND Flash Memory Market size is expected to reach US$ 66.52 Bn by 2030, expanding at a CAGR of 5.6% during the forecast period from 2022 to 2030. Rapid digitization across various industries requiring high storage capacity is primarily driving market growth.

Regional Analysis

North America dominates the global NAND flash market, accounting for over 30% share of the total market revenue in 2021. High adoption of smartphones and presence of leading manufacturers in the US and Canada are factors contributing to the region's large market share. Asia Pacific is projected to be the fastest growing regional market over the forecast period owing to rising demand from China and India.

Key Players

Key players operating in the NAND flash memory market include KIOXIA Corporation, Cypress Semiconductor Corporation (Infineon Technologies), SK Hynix Inc., SanDisk Corp. (Western Digital Technologies Inc.), Powerchip Technology Corporation, Samsung Electronics Co. Ltd., Intel Corporation, Yangtze Memory Technologies and Micron Technology Inc. Samsung Electronics Co. Ltd. and KIOXIA Corporation are the largest manufacturers of NAND flash memory globally.

Read More : https://www.rapidwebwire.com/nand-flash-memory-market-connected-with-manufacturers-expansion-demand/

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