New York, NY -- (SBWIRE) -- 08/10/2018 -- Secure Digital (SD) memory cards are used for storing digital information in smartphones, cameras, tablets, and other such portable devices. Increasing use of devices such as mobile phones, digital cameras are adding to the explosion of data. This is resulting in the need for additional storage space, thereby driving the demand for SD memory card. Moreover, Big Data is likely to grow along with the exponential growth in the Internet of Things (IoT) ecosystem. Hence, the personal information of the consumers created and exchanged will also increase. This is creating the need for advanced storage solutions and technologies.
Manufacturers are working on the smart SD memory cards with advanced features and safety. The growing demand for smartphones especially in the developing region is expected to create an opportunity for micro SD card manufacturers. Companies are also introducing high speed and capacity SD cards for various devices. Increasing use of social networking sites is also driving the need for increased capacity SD card. Key players are also focusing on offering unique features to attract customers. However, the presence of counterfeit SD cards in the market with fake capacity is emerging as one of the biggest challenges in the global SD memory card market.
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As per the report by Persistence Market Research (PMR), the global market for SD memory card is likely to witness sluggish growth during the forecast period 2017-2022. By 2022 end, the global SD memory card market is estimated to surpass US$ 8,900 Million revenue.
SD Memory Card to Find Largest Application in Mobile Phones
Based on the application, SD memory card is anticipated to find the largest application in mobile phones. Towards the end of 2022, mobile phones are estimated to exceed US$ 6,400 Million revenue.
On the basis of card type, Compared to the SD card, micro SD card is likely to witness substantial growth during 2017-2022. Micro SD card is projected to bring in close to US$ 8,900 Million revenue by the end of 2022.
By storage capacity, 32GB SD memory card is expected to be the most preferred during 2017-2022. 32GB SD card is projected to surpass US$ 1,900 Million revenue by 2022 end. Meanwhile, SD card with 16GB storage capacity is also likely to witness growth in the coming years.
Asia Pacific to Emerge as a Leading Region in the Global Market for SD Memory Card
Geographically, Asia Pacific is likely to witness the highest growth in the global SD memory card market between 2017 and 2022. By 2022 end, Asia Pacific is projected to exceed US$ 3,700 Million revenue. Increasing demand for smartphones is resulting in the increasing use of SD cards for additional storage space. Also, companies in China, Japan, and India are launching new mobile phones at low cost. This is driving the demand for smartphones, thereby, increasing use of SD cards. Manufacturers in the region are also working on introducing Secure Digital Input Output (SDIO) as an extension of SD memory card to provide support to I/O functions.
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Some of the key companies operating in the global market for SD memory card are Transcend Information Inc., SanDisk Corporation, ADATA Technologies Co. Ltd., Kingston Technology Corporation, Panasonic Corporation, Micron Technology, Inc., Samsung Electronics Co. Ltd., Sony Corporation, PNY Technologies, Inc., and Toshiba Corporation.