Universal Flash Storage Market

Global Universal Flash Storage Market Size (2024 to 2029)

The size of the global universal flash storage market was worth USD 560 million in 2023. The global market is anticipated to grow at a CAGR of  24% from 2024 to 2029 and be worth USD 2,036 million by 2029 from USD 694 million in 2024. 

Current Scenario of the Global Universal Flash Storage Market

Universal Flash Storage (UFS) is a high-performance storage standard commonly used in smartphones and other mobile devices. It is a type of flash memory designed to replace traditional hard drives in electronic devices, offering faster read and write speeds and lower power consumption than traditional hard drives. UFS uses a serial rather than a parallel interface, which allows it to transfer data faster and with lower power consumption. It is also capable of supporting multiple parallel operations, which makes it well-suited for use in devices that require fast access to data, such as smartphones and tablets. As a result, UFS is becoming increasingly popular as a storage solution in mobile devices, and it is expected to eventually replace eMMC (embedded MultiMediaCard) storage in many devices.

MARKET DRIVERS

Increasing demand for high-performance storage in mobile devices is one of the key factors propelling the universal flash storage market growth.

UFS is becoming increasingly popular in smartphones and other mobile devices because it offers faster read and write speeds and lower power consumption than traditional hard drives. Improvements in UFS technology have made it possible to increase storage capacity and improve performance, which has helped to drive the adoption of UFS in mobile devices. Growing demand for mobile devices worldwide is anticipated to promote the universal flash storage market Share. The increasing popularity of smartphones and tablets drives the demand for high-performance storage solutions like UFS.

In addition, UFS is increasingly being used as a replacement for eMMC (embedded MultiMediaCard) storage in mobile devices, as it offers faster performance and higher storage capacity, which is expected to showcase a favorable impact on the market growth. The cost competitiveness associated with universal flash storage promotes adoption and drives market growth. UFS has become more cost-competitive recently, making it an attractive option for device manufacturers looking to offer high-performance storage at a lower cost. The application of universal flash storage in different industries is estimated to promote market growth. UFS is also being used in various other markets, such as automotive, industrial, and healthcare, contributing to the growth of the UFS market.

MARKET RESTRAINTS

High costs associated with universal flash storage are a significant factor hindering market growth.

Furthermore, the availability of alternative options, limited compatibility, issues associated with intellectual properties, and technological limitations are further expected to impact market growth negatively.

MARKET OPPORTUNITIES

The growing adoption of IoT is expected to provide opportunities in the market. UFS is being increasingly used in the Internet of Things (IoT) as a high-performance storage solution for devices requiring fast data access. UFS offers faster read and write speeds and lower power consumption than traditional hard drives, making it well-suited for use in IoT devices.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Universal Flash Storage Market Analysis By Application

Based on application, the mass storage segment is predicted to rise at the highest CAGR during the forecast period. UFS is used in mass storage devices such as smartphones, tablets, and other portable devices. It is designed to be a high-performance alternative to eMMC (embedded MultiMediaCard) storage. It offers faster read and writes speeds, higher storage density, and lower power consumption than eMMC. In the recent past, increased adoption of UFS has been noticed in the mass storage application and helped the segment register the lead among all.

Global Universal Flash Storage Market Analysis By Configuration

Based on the configuration, the embedded segment will dominate the global universal flash storage market during the forecast period. UFS storage is used in conjunction with an embedded controller, a tiny computer chip that manages the storage and retrieval of data on the device. In addition, the embedded controller is responsible for error correction, wear leveling, and garbage collection, which helps extend the storage's lifetime and improve its overall performance.

Global Universal Flash Storage Market Analysis By End Use

Based on the end-user, the automotive electronics segment will dominate the global universal flash storage market during the forecast period. UFS technology is increasingly being used in automotive electronics to store and access data quickly and efficiently. In addition, UFS is used in the automotive industry for various purposes, such as navigation and infotainment systems.

REGIONAL ANALYSIS

Geographically, the North American region captured the largest share of the global universal flash storage market in 2023, and its lead is expected to continue during the forecast period 2024 to 2029.

Several factors are driving the growth of the UFS market in North America. One of the main factors is the increasing demand for high-speed storage solutions in various applications, including smartphones, tablets, laptops, and automotive electronics. In addition, the growing popularity of 5G technology is also expected to drive demand for UFS, as 5G devices require fast storage solutions to support their high data transfer speeds. In addition, the adoption of UFS in the automotive sector is expected to contribute to the market's growth. As more vehicles are equipped with advanced infotainment systems, navigation systems, and other electronic features, the demand for UFS in the automotive sector is expected to increase. Overall, the UFS market in North America is expected to see strong growth in the coming years due to increasing demand for high-speed storage solutions in various applications.

The European region held a substantial share of the global market in 2021. However, the universal flash storage market in the Asia-Pacific region is anticipated to showcase the highest CAGR during the forecast period.

KEY PLAYERS IN THE GLOBAL UNIVERSAL FLASH STORAGE MARKET

Companies playing a prominent role in the global universal flash storage market include Tuxera, Samsung, Silicon Motion, GDA IP Technologies, Cadence, Synopsys, Phison, SK Hynix, Toshiba, Micron, Arasan, Avery, and Others.

RECENT HAPPENINGS IN THE GLOBAL UNIVERSAL FLASH STORAGE MARKET

• In October 2016, Cadence announced the launch of 10 new Verification IP solutions, one of which is UFS 2.1. Verification IP (VIP) is a software tool used to verify the functionality of electronic systems and devices. The UFS 2.1 Verification IP solution is specifically designed to improve data security in systems that use UFS storage devices by enabling inline cryptography between the UFS storage device and the SoC (System-on-Chip). Inline cryptography is a method of encrypting data as it is transferred between devices, which helps to protect the data from being accessed by unauthorized parties.

DETAILED SEGMENTATION OF THE GLOBAL UNIVERSAL FLASH STORAGE MARKET INCLUDED IN THIS REPORT

This research report on the global universal flash storage market has been segmented and sub-segmented based on application, capacity, configuration, end use, and region.

By Application

• Mass Storage
• Boot Storage
• XiP Flash
• External Card

By Capacity

• 32 GB
• 64 GB
• 128 GB
• 256 GB
• 512 GB

By Configuration

• Embedded
• Removable

By End Use

• Automotive Electronics
• Digital Cameras
• Gaming Consoles
• High-Resolution Displays
• Laptops
• Smartphones
• Others

By Region

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa