MCP-6150: USB FLASH DRIVES - A GLOBAL STRATEGIC BUSINESS REPORT
March 20, 2015 – Growing Need for Compact, Easy to Maintain Electronic Storage Drives the Global USB Flash Drives Market, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on USB Flash Drives. The global market for USB Flash Drives is projected to exceed 555 million units by 2020, driven by the explosive rise in demand for digital data storage, launch of the USB 3.0 and USB 3.1 standards for high-speed data transfer, and increase in USB flash drive memory capacities.
USB flash drives are compact in size and are diametrically opposite in their ability to store large volumes of data. Features such as convenience, portability, widespread compatibility, and ease of use make USB flash drives one of the most preferred devices for data storage and transfer. Given the increasing levels of information mobility demanded by modern end-users, global enterprises today require flexible and secure enterprise mobility solutions. The pressure on portability is pushing the evolution of storage devices, making innovations in this space revolutionary rather than evolutionary. From storage in desk bound, desktop PCs, to the portable yet limited in capacity floppy drives, to Zip drives, to CDs, the unrelenting demands on portability of large files and data mandated by robust mobile computing solutions, is creating lucrative opportunities for new generation, smaller, compact, intelligent, rugged, flexible and versatile storage solutions such as USB flash drives.
Rapid penetration of the USB 3.0 standard driven by its capability to provide data transfer rates of 1.25 Gbps to a maximum of 5Gbps, which is more than 10 times faster than the 480Mbps speed of USB 2.0, represents the most important growth driver. Future growth in the market will be driven by the USB 3.1 standard. The new standard features SuperSpeed USB 10 Gbps transfer rates and uses more efficient data encoding and delivers highly effective data through-put performance than USB 3.0 over fully backward compatible USB cable and connectors. Increasing emphasis of enterprises on information security and confidentiality is also driving demand for secure USB flash drives. In addition, rapid proliferation of Android-based smartphones, tablets, and other portable OTG (On-the-Go) devices that have standard micro-USB port as a key feature are also lending traction to the USB flash drives market. Another key factor driving growth in the market is the significant increase in USB flash drive memory capacities, which have reached 128GB-256GB.
As stated by the new market research report on USB Flash Drives, Europe represents the largest regional market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 8.2% over the analysis period. Steadily growing economies, surging demand for computing devices, rapid proliferation of smartphones and tablets, and increasing adoption of storage devices for storing, transferring, and sharing content, particularly in China and India, represent key growth drivers in the region.
Key players covered in the report include ADATA Technology Co. Ltd., Buffalo Technology (UK) Ltd., Corsair Components, Inc., Edge Tech Corporation, Hewlett-Packard, Imation Corp., Kingston Technology Company Inc., Micron Consumer Products Group Inc., Patriot Memory, PNY Technologies Inc., SanDisk Corporation, Sony Corporation, SPYRUS Inc., Transcend Information Inc., and Verbatim Americas LLC, among others.
The research report titled “USB Flash Drives: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations and launches, and other strategic industry activities. The report provides market estimates and projections in units for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America) and Rest of World. Capacity types analyzed in the report include 8GB, 16GB, 32GB, and Others.
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