NEW YORK, Jan. 19, 2022 /PRNewswire/ -- The latest market research report, "Memory Cards Market by Type and Geography - Forecast and Analysis 2021-2025" by Technavio infers that the requirement for storage devices in cameras and camcorders is driving the memory cards market's growth. However, the market growth momentum is likely to decelerate at a CAGR of 0.58%.
Resulting in the market growth of USD 236.39 million from 2020 to 2025, read additional information about the memory cards market, get a FREE sample report.
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.
ADATA Technology Co. Ltd., Cactus Technologies Ltd., Delkin Devices Inc., Kingston Technology Co. Inc., Lexar, Samsung Electronics Co. Ltd., Sony Corp., Toshiba Corp., Transcend Information Inc., Western Digital Corp. among others are some of the few key vendors competing to maintain their market position in the market.
Various players in the market are engaging in strategic partnerships and joint ventures coupled with launching differentiated products to up their game in the memory cards industry. For instance, In July 2020, Cactus Technologies Ltd. announced the launch of a new high-performance PCIe M.2 in the 2280 form factor.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
Segmentation by Type:
Request a FREE Sample of this report for more highlights into the market segments.
Regional Market Outlook
APAC will contribute to 81% of the market growth during the forecast period. The growth of this region can be attributed to the exponential growth of social media as end-users will tend to download more content from these platforms.
Apart from regions, if we look at the country-wise market growth, China, South Korea (Republic of Korea), the US, Germany, and the UK will contribute to the highest market growth.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Trends, Driving the Global Memory Cards Market
The popularity of photography is increasing all across the world. People are learning tips and strategies to improve their photography skills as the number of social sites such as Snapchat, Instagram, Facebook, and Twitter grows. Memory cards are preferred by consumers for meeting their storage needs in cameras because they are easy to handle and have a low risk of physical damage in the event of unexpected shocks. As a result, as photography has grown in popularity, so has the demand for cameras and camcorders, which drives up the demand for memory cards.
By 2025, it is projected that the number of connected items will have tripled due to growing Internet penetration around the world. The number of data exchanges will rise as a result, driving up the demand for high-capacity storage devices. Memory card makers are working on versions with large storage capacities that are comparable to HDDs and USB flash drives. Memory cards have gone from 1GB to 512GB in storage capacity. Due to the increased popularity of social networking programs such as WhatsApp, Instagram, and Facebook, which occupy a lot of space, vendors are offering memory cards with big storage capacities.
Find additional information about various other market drivers & trends mentioned in our FREE sample report.
Need More? Are You Looking for Information Not Covered in This Report?
Want to understand more about the various research methodology?
Evaluate a specific segment or region in detail
Identify key suppliers, customers, or other market players
Analyze market regulations
Tailor this report according to your needs. Get it done with our $1000 worth of free customization. Speak to Our Analyst Now!
Memory Cards Market Scope
Growth momentum & CAGR
Decelerate at a CAGR of 0.58%
Market growth 2021-2025
$ 236.39 million
YoY growth (%)
APAC, Europe, North America, South America, and MEA
Performing market contribution
APAC at 81%
Key consumer countries
China, South Korea (Republic of Korea), US, Germany, and UK
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
ADATA Technology Co. Ltd., Apacer Technology Inc., Avant Technology, Cactus Technologies Ltd., Delkin Devices Inc., EP Holdings Inc., Integral Memory Plc, KINGMAX Technology Inc., Kingston Technology Co. Inc., Lexar, Magic Ram Inc., Micron Technology Inc., Panasonic Corp., PNY Technologies Inc., Samsung Electronics Co. Ltd., Sony Corp., Team Group Inc., Toshiba Corp., Transcend Information Inc., and Western Digital Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View original content to download multimedia:https://www.prnewswire.com/news-releases/technavios-memory-cards-market-research-report-highlights-the-key-findings-in-the-area-of-vendor-landscape-key-market-segments-regions-and-latest-trends-and-drivers-301462900.html