USB 3.0 Flash Drives Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

Key Market Insights

Growing Data Volumes Worldwide to Boost the Demand for USB 3.0 Flash Drives

The global USB 3.0 flash drives market worldwide is estimated to rise with a CAGR of 17.7% during the estimated period from 2021 to 2029, starting from US$ 2,523.5 Mn in 2020.

Increased virtual data and rising data volumes worldwide are the major key factors driving market growth. Rapid technical advancements in the flash drives market will also boost market growth. The development of large capacity flash drives is another factor for the market growth. Less power consumption, compatibility, and rapid transfer speed are some of the main benefits driving market growth. As a result, the market will show huge growth in years to come.

Growing Data Volumes will Led the Fastest Growth for 128GB and 256GB & above Segments

In 2020, the market was led by 16GB to 64GB. The 16GB to 64GB segment contributed to more than 1/3rd of the global market revenue share in the same year. Large storage space with low cost are the major reasons for the dominance of the segment. On the other flip, the 128GB and 256GB & above segments will show fastest growth in years to come. Growing digital data volume and the need for large storage devices are the major factors for the fastest growth. As a result of these factors, we presume that 128GB and 256GB & above segment will show highest CAGR during the forecast period.

Growing Need for Storage Devices Hold Asia Pacific to Dominant Position

In 2020, Asia Pacific was the highest value contributor in the global market. Asia Pacific contributed to over 1/3rd of the world market revenue share. Rising need for storage devices, rapid technology adoption and presence of major market players are some of the major factors for the dominance of Asia Pacific region. Growing data volumes in the region is another factor for the Asia Pacific market growth. Additionally, the growing digital electronics market in the region will also help the market growth. Therefore, we predict that the Asia Pacific will continue its dominance throughout the forecast period.

Increased New Product Launch with More Storage Space Will be the Key Strategy for Market Players

Major manufacturers are focused on launching products with high storage capacity. Partnership agreements, new product launch, acquisitions, and improved R&D will increase the USB 3.0 flash drive market in the emerging nations in the near future.

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

Key Industry Developments:

Transcend Information, Inc. launched high capacity (128GB and 256GB) USB 3.0 flash drives with blazing fast transfer speed in recent years. Transcend Information, Inc. introduced JetFlash series that can store 64000 mp3 songs, 64 hours HD video or more than 1, 00,000 images with an maximum transfer speed of up to 210MB/s.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall USB 3.0 flash drives market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.

Key questions answered in this report

• What was the market size of USB 3.0 flash drives in 2020 and forecast up to 2029?

• Which is the largest regional market by revenue for USB 3.0 flash drives?

• What are the major trends followed in overall USB 3.0 flash drives across different regions?

• What are the key market trends and high-growth opportunities observed in the USB 3.0 flash drives market?

• What are the drivers of the USB 3.0 flash drives market?

• Who are the key USB 3.0 flash drives companies leading the market?

• What are the key strategies adopted by the leading USB 3.0 flash drives companies in the market?

Unique data points of this report

• Recent trends across different regions in terms of adoption of USB 3.0 flash drives

• Notable developments going on in the USB 3.0 flash drives industry

• Attractive investment proposition for USB 3.0 flash drives segment as well as geography

• Comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)

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