Secure Digital Memory Card Market to Perceive Substantial Growth During 2022

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.

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%.

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Secure digital memory cards, usually known as SD cards, are probably the most preferred flash storage technology. User-friendly deign, compact size, and superior performance make SD memory cards ideal for usage in all types of electronic devices, including smartphones, cameras, tablets, and other handheld devices. The global market for secure digital memory cards is estimated to witness sluggish growth over the next few years. The market registered revenues worth US$ 7.7 Bn in 2014, which are expected to reach up to US$ 8.95 Bn by 2022 end. Despite revenues over US$ 8.0 Bn, the market will move ahead with a passive CAGR of 1.5% over 2015-2022.

Key Market Dynamics

A type of non-volatile memory card, SD cards are high in demand especially for smartphones and tablets. In addition, widespread usage in digital cameras will also sustain the demand. Consumers are increasingly inclined toward more storage in phones and handheld devices, which is expected to fuel the market for SD cards. The mobile phones vertical is identified to hold substantial potential for market growth, owing to exploding manufacturing and consumption of mobile phones and burgeoning usage of applications. Since the market is already flooded with innumerable devices, the imaging application for SD cards has become a mature market since the past few years. However, this cluster will continue to raise steady demand for secure digital memory cards. Lately, digital system design professionals are working on enhancement of the storage capacity and writing speed of NAND devices. This is another important factor that will favor the market growth within the next few years.

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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%.

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