March 29, 2020
USB 3.0 Flash Drives

USB 3.0 Flash Drives Market outlook 2027 shows growth drivers and opportunities

The global market for USB 3.0 flash drives was valued at US$ 1.863.8 million in 2018 and is set to grow at 17.7 per cent CAGR during the forecast period.

An increase in the virtual size of data due to quality improvements is one of the promising factors for market growth. Small size, increased transfer speed, lower power consumption, easily compatible and others are some of the advantages of USB 3.0 flash drives that drive market demand. In addition, the increasing demand for compact storage devices with maximum storage capacity worldwide also contributes to the growth of the market. As a result, we assume that the global market for USB 3.0 flash drives will show huge growth throughout the forecast period. Nowadays, the high manufacturing cost is the biggest challenge faced by the market. We expect the challenge to be resolved over time as manufacturers are working on the development of new low-cost manufacturing technologies.

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Based on capacity, the global market for USB 3.0 flash drives was led by 16 GB to 64 GB in 2018. This segment contributed approximately 37% of the global market revenue share in the same year. The 16 GB to 64 GB segment is dominated by large storage space and increased transfer speed. As the most preferred storage capacity choice, the segment is expected to ensure continued growth over the forecast period.

In terms of geography, the report examines the market for USB 3.0 flash drives across the United States, Europe and Asia Pacific. Of these, the Asia Pacific market is the leading producer and a key contributor to the global market for USB 3.0 flash drives. The Asia Pacific market is also expected to achieve promising gains in the next few years, but the U.S. market is expected to emerge as the fastest growing market for USB 3.0 flash drives.

The vast increase in the volume of digital data transferred from the web to mobile and personal computers is presently the leading factor driving the increased demand for USB 3.0 flash drives worldwide. Quality enhancements are increasing the virtual size of the most popular digital data, such as audio, video, and images. Due to the large increase in the volume of digital data being transferred and processed on personal devices, consumers are forced to purchase products capable of enabling faster and better data transfer and processing, thereby driving the demand for USB 3.0 flash drives.

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List of Companies Covered:

• ADATA Technology Co., Ltd.

• HP Inc.

• Kingston Technology Corporation

• Lenovo Group Ltd.

• SanDisk Corporation

• Toshiba

• Verbatim Corporation, Inc.

• Transcend Information, Inc.

• Corsair Components, Inc.

• Emtec Inc.

• Monster Digital

• Gigastone Corporation

• Micron Consumer Products Group, Inc. (Lexar)

• Samsung Group

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