Memory Card Market to Gross $ 21.3 Billion by 2018

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Memory-Card-MarketTechnology has had multiple face changes since its evolution, completion of difficult activities, completing them within a limited time-frame and so on. In present day, one is able to go about anything from developing, designing and modifying a number of technologies for numerous purposes. Once these activities got possible, the problem of storage mushroomed up, for long time there was no answer for this storing issue which was inevitable. In path of finding solution for the same, there were inventions of floppy disks and the compact discs (CD’s). These mediums of storing data were in practice for a long time especially the CD which further also had its version of mini CD which wasn’t that successful. Today, the method of storing data has undergone a face lift, the evolution of pen drives and memory cards have completely changed the way people conserve their data.

The use of memory cards for storage of data is rocketing as it is easy to preserve data in almost all formats. The initiation of memory cards started with the PC Cards (PCMCIA) during the early 1990’s which majorly had industrial usage and was used for connections of modems. This later paved way to much compact versions such as the Smart Media, Compact Flash and Miniature Card. The memory cards or the flash cards as they are known widely are vastly utilized for electronic storage of data from devices like digital cameras, video games, laptops computers, Mp3 players and smart phones. The SD (secured digital) memory cards are the latest in the compact versions of storage cards; they are used in over 8000 models from 400 brands in countless product categories. The business potential for these memory cards on a global front is bright as there is an estimate of a CAGR of 1.74% for a span of 5 years starting from 2013 to 2018.

Features like easy portability, massive range of storing capacities, better affordability and vast segmentation of usage improve the sales quotient of memory cards worldwide. During its introduction, the product was used mainly by the developed, first grade countries. But with blasting success of the product there raised a massive production requirements, the population making use of these memory cards has rocketed up. This is to the extent that the method is followed by all the technology savvy people from all over the globe.

America, Europe and countries from Asia lead the users list of these flash memory cards. Production of these micro SD cards is done in massive volumes by the Asia Pacific countries; China being the lead producer; it produces almost half the total global production. With the advance technological work pattern coming to practice, industries from various sectors are using this memory slots big time and the future for global flash card industry seems to be hyper active.

Kingston Technology Corp, Transcend Information Inc, Sony Corp, ScanDisk Corp and Samsung are top global sellers of memory storing devices. There is a forecast  of many more companies getting involved into the manufacturing of these slots as the global industry revenue is expected to touch a mark of 21.3 billion US $ by the end of 2018.