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Flash Memory Market by Size, Share, Revenue, Technology, Demand and Opportunities by 2023

The primary driving force behind the sustained rapid growth of the global flash memory market is their use in cell phones. In addition, the multifunction cellular phone is building demand for higher memory capacities. High data transfer rate, less usage of power, small size, light weight, less production of heat, and long life are some of the factors driving the global flash memory market.

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The storage industry has been dominated by traditional rotating disk technology based on magnetic storage. With the falling prices of flash memory and advances in semiconductor technology, the industry is replacing the hard disks with solid-state memory based on flash.

Flash memory is a non-volatile, electronic computer storage medium that can be erased electrically and re-programmed. It is used in universal serial bus (USB) drives, solid state drives (SSDs), computer random access memory (RAM), hybrid drives, handsets, digital camera, graphics cards, memory cards), and pagers. In addition to consumer devices, flash memory products with peripheral component interconnect express (PCIe) as well as the traditional serial advanced technology attachment (SATA) or statistical analysis system (SAS) interfaces are gaining popularity in enterprise applications. Some of the other applications of flash memory include personal computers, personal data assistants (PDAs), digital cameras, digital audio players, mobile phones, video games, synthesizers, scientific instrumentation, medical electronics, industrial robotics and others.

IM Flash, Macronix International Co., Ltd., SAMSUNG, Microchip Technology Inc., Toshiba Corporation, SanDisk Corporation, Renesas Electronics Corporation, Sharp Electronics Corporation, Spansion Inc., SK Hynix Inc. are some of the competitors of the global flash memory market. The market is characterized by intense competition. Increasing competition is expected to drive the flash memory market in the forecast period, as new manufacturers are continuously entering the market and existing manufacturers are introducing new products that meet the increasing demand for greater and efficient flash memory.

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