NEW YORK, Jan. 19, 2022 /PRNewswire/ -- The latest market research report, "Memory Cards Market by Type and Geography - Forecast and Analysis 2021-2025" by Technavio infers that the requirement for storage devices in cameras and camcorders is driving the memory cards market's growth. However, the market growth momentum is likely to decelerate at a CAGR of 0.58%.

Resulting in the market growth of USD 236.39 million from 2020 to 2025, read additional information about the memory cards market, get a FREE sample report.

Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.

ADATA Technology Co. Ltd., Cactus Technologies Ltd., Delkin Devices Inc., Kingston Technology Co. Inc., Lexar, Samsung Electronics Co. Ltd., Sony Corp., Toshiba Corp., Transcend Information Inc., Western Digital Corp. among others are some of the few key vendors competing to maintain their market position in the market.

Various players in the market are engaging in strategic partnerships and joint ventures coupled with launching differentiated products to up their game in the memory cards industry. For instance, In July 2020, Cactus Technologies Ltd. announced the launch of a new high-performance PCIe M.2 in the 2280 form factor.

View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

• Segmentation by Type: 
• • SD Card: 
  • • During the projected period, the SD card segment will gain considerable market share in memory cards. Because of the increased internal memory and quicker read/write speeds available for storing UHD information, SD cards will continue to be used in cameras and camcorders. Cameras and camcorders, tablets, media players, and gaming consoles are among the other devices that utilize SD cards.
  • Compact flash
  • Memory Stick
  • Multimedia Card

Request a FREE Sample of this report for more highlights into the market segments.

Regional Market Outlook
APAC will contribute to 81% of the market growth during the forecast period. The growth of this region can be attributed to the exponential growth of social media as end-users will tend to download more content from these platforms.

Apart from regions, if we look at the country-wise market growth, China, South Korea (Republic of Korea), the US, Germany, and the UK will contribute to the highest market growth.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Trends, Driving the Global Memory Cards Market

• Market Driver:
• • Requirement for storage devices in cameras and camcorders:

The popularity of photography is increasing all across the world. People are learning tips and strategies to improve their photography skills as the number of social sites such as Snapchat, Instagram, Facebook, and Twitter grows. Memory cards are preferred by consumers for meeting their storage needs in cameras because they are easy to handle and have a low risk of physical damage in the event of unexpected shocks. As a result, as photography has grown in popularity, so has the demand for cameras and camcorders, which drives up the demand for memory cards.

• Market Trend:
• • Increasing need of high capacity solutions:

By 2025, it is projected that the number of connected items will have tripled due to growing Internet penetration around the world. The number of data exchanges will rise as a result, driving up the demand for high-capacity storage devices. Memory card makers are working on versions with large storage capacities that are comparable to HDDs and USB flash drives. Memory cards have gone from 1GB to 512GB in storage capacity. Due to the increased popularity of social networking programs such as WhatsApp, Instagram, and Facebook, which occupy a lot of space, vendors are offering memory cards with big storage capacities.

Find additional information about various other market drivers & trends mentioned in our FREE sample report.

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