Flash Memory Market to Reach $43.9 Billion in 2018 – BCC Research

BCC Research LLC reveals in its new report, Flash Memory, Technologies and Global Markets ($6,650), the global market for solid-state flash memory and related technologies is expected to grow to $43.9 billion by 2018, with a five-year CAGR of 7.8%.

Asia is the largest and fastest growing market, projected to account for more than 50% of global sales across all segments.

Flash memory is cheaper, lighter, stronger, and faster than HDD-based memory systems. It has already been widely adapted into the mobile and enterprise computing markets and promises to be the dominant storage technology moving forward.

Asia, by far the dominant region in the global market, is expected to reach $22.4 billion in sales by 2018, with a CAGR of 8.3%. Growth in this region is being driven by a steadily improving regional economy, technological advances, and falling production prices.

North America, the second largest region in the market, is expected to grow to nearly $8.8 billion by 2018, registering a CAGR of 6.8%.

“Flash memory offers significant advantage as a storage technology, including weight, power, and space,” said BCC Research semiconductor analyst Anand Joshi. “It is more expensive today in comparison with the dominant magnetic media based HDDs but the process is already starting to become comparable. This is expected to drive the demand for flash memory in enterprises.”

Overall appetite of businesses to use cloud-based storage is expected to drive demand for flash. With the advent of technology, more and more data is being generated that requires storage space. Cloud has been proposed as one of the solutions to solve big data related problems and flash memory is expected to play a dominant role in the migration.