Secure Digital Memory Cards Market Higher Growth Rate and Forecast - 2022 With a CAGR of 1.6%

According to a new market report published by Persistence Market Research "Global Market Study on Secure Digital (SD) Memory Card: Micro SD Card to be the Largest Segment by 2022, The Global SD Memory Card Market was valued at USD 7,705.2 million in 2014 and is expected to expand at a CAGR of 1.5% from 2015 to 2022, to reach USD 8,952.9 million by 2022

The global SD memory card market is classified on the basis of card type, storage capacity, application and region. These classifications are further broken down into segments to get a better understanding of the global SD memory card market in detail.

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On the basis of application, the market has been segmented into mobile phones, digital cameras, tablets, game devices and others. The mobile phones segment dominated the SD memory card market, accounting for 68.5% in 2014 and is estimated to remain dominant, accounting for 71.6% by 2022. The tablets segment accounted for 5.2% share in the global SD memory card market in 2014, and is projected to grow to 11.6% by 2022, witnessing an increase of 636 Basis Point Share and registering a double-digit CAGR of 10.9%.

On the basis of card type, the market has been segmented into SD card, micro SD card and mini SD card. The micro SD card segment dominated the global SD memory card market, accounting for over 90.0% share in 2014 and is anticipated to remain dominant during the forecast period.

On the basis of storage capacity, the market has been segmented into 2GB, 4GB, 8GB, 16GB, 32GB, 64GB,128GB, 256GB and 512GB &Above.In terms of CAGR, 512GB &Above is estimated to be the fastest growing segment during the forecast period, followed by the 256GB segment.Global SD memory card market share of the 32GB segment was 15.5% in 2014 and is anticipated to grow to 22.0% by 2022, witnessing an increase of 648 Basis Point Share and registering a CAGR of 5.4%.

Growth of the global SD memory card market is mainly driven by advancements in imaging technology, seasonal sales of mobile devices and wide availability of rich multimedia content. Other trends driving the growth of the SD memory card market include introduction of SD memory cards with high transfer and write speeds, transition to 3D NAND technology, inclusion of wireless technologies and increasing storage capacity of memory cards.

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Asia Pacific dominated the SD memory card market, accounting for over 35% market share in 2014 and is anticipated to remain dominant through the forecast period.The markets in Europe and North America collectively accounted for over 35% share in the globalSD memory card market in 2014. Among regions, MEA is anticipated to register the highest CAGR between 2015 and 2022, followed by Latin America, due to the high availability of rich multimedia content and seasonal sales of the mobile devices in these region.

Key players in the global SD memory card market are

• SanDisk Corporation.
• Transcend Information Inc.
• ADATA Technologies Co. Ltd.
• Panasonic Corporation.
• Kingston Technology Corporation.
• Micron Technology, Inc.
• Sony Corporation.
• Samsung Electronics Co. Ltd.
• Toshiba Corporation.
• PNY Technologies, Inc.
• Other.

Transcend Information Inc. focuses on expanding their global presence through partnerships with local and international distributors. For example, in 2012, Transcend Information Inc. partnered with Eros Group - a Dubai-based distributor of consumer electronics - to distribute the former's memory and storage devices through exclusive channels within the UAE.Moreover, these key players also focus on research and development activities to introduce innovative features in their memory card products in order to attain a sustainable advantage over the competition.

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This release was published on openPR.