USB 3.0 Flash Drives Market: Faster Data Transfer Need & Digital Data Volumes to Draw More Focus; (Conventional and Chip-on-Board)

USB 3.0 Flash Drives Market - Snapshot

The global USB 3.0 flash drives market is currently being driven by the advantages that USB 3.0 technology holds over conventional USB technology. As the need for faster data transfer rates arise due to increasing data volumes and the growing demand for faster functioning technology, users are far more likely to adopt USB 3.0 technology as a replacement to conventional data transfer methods. Key players are focusing greatly on product development, especially in chip-on-board USB 3.0 flash drives.

The combined market size in the U.S., Europe, and Asia Pacific USB 3.0 flash drives market is expected to reach US$3,115.6 mn in revenue by the end of 2020, after being calculated at US$1,123.9 mn in 2015. This revenue is estimated to expand at a prolific CAGR of 23.5% during the forecast period from 2016 to 2020.

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Growing Digital Data Volumes Draw Focus on Global USB 3.0 Flash Drives Market

“The global USB 3.0 flash drives market is expected to witness a healthy rate of growth over the coming years. One of the key reasons for the growing demand for USB 3.0 tech is the increase in data volumes being transferred. Digital data is not only increasing in numbers, but also increasing in virtual size due to quality enhancements. Common consumer copies of music files and movie files, for instance, are getting larger to accommodate the advancements in quality of each type of file. Given the overall growth in the volume of digital data being used, consumers are looking for better and faster ways to transfer data, which brings USB 3.0 flash drives to their attention,” states a TMR analyst.

The U.S., Europe, and Asia Pacific USB 3.0 flash drives market has benefitted greatly through the developments in the chip-on-board manufacturing process. The growing adoption of effective CoB manufacturing processes has allowed players to significantly reduce the size of their flash drives, while allowing them to increasing storage space while maintaining a small form factor.

Large Flash Drives Earning More Preference

Based on capacity, the global USB 3.0 flash drives market can be segmented using the data size markers of 4 GB, 16 GB, 64 GB, 128 GB, and 256 GB. The leading share in the market in terms of demand and production volume goes to the segment of 16 GB to 64 GB. They have shared a large amount of popularity due to having a large enough storage size while being easier to manufacture in smaller physical sizes than flash drives of a greater storage space. At the same time, advancements in technology are making the physical size of flash drives even smaller, allowing consumers to pick up devices from 128 GB to 256 GB and even those above 256 GB in storage space. These segments are highly likely to show a phenomenal growth rate till 2020. Larger flash drives are also being preferred by more consumers due to the growth in volume of digital data over the recent years.

The leading players involved in the U.S., Europe, and Asia Pacific USB 3.0 flash drives market at the current moment, include 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, Patriot Memory LLC, Micron Consumer Products Group, Inc. (Lexar), and Samsung Group.

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