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NAND Flash Market
The global NAND flash market is expected to register an impressive CAGR, and will represent a value of over US$ 88,000 Mn by the end of 2022.
Electronics integrated with the NAND technology diverge on its price and speed. Application of NAND flash drive extends beyond a computer system to other electronic gadgets. Attributed to its enhanced features and extensive storage system, the NAND flash drive is used in iPods and smartphones.
Increasing need for phones that are rich in features and incorporate video, camera, gaming, and music has led to an upsurge in demand for extensive storage systems in the electronics market globally. Such factors are expected to fuel demand for NAND flash memory globally. Apart from smartphones, the NAND technology is also used in the wearable devices.
Introduction of Internet of Things (IoT) in the agricultural practices and enhanced technologies has led to surge in use of high-end computing system in the agricultural industry. Growing need for non-volatile storage device is further expected to boost demand for NAND flash drives in the agricultural industry. Such factors are likely to contribute towards growth of the global NAND flash market during the predicted period.
As cited on a news portal, the NAND flash drive can also be used within a cache server, where the key value is stored while exceeding or matching the performance of DRAM. Moreover, the NAND flash drives consume comparatively less power due to which it witnesses significant demand among electronic manufacturers. As compared to the NOR flash drives, decoding is faster in the NAND flash drives. Growing demand for relatively high areal density has led the manufacturers operating in the electronic industry to integrate 3D technology in the NAND chip.
On the other hand, as several smartphones are equipped with the NAND chip, various hackers are now infringing security on the mobile devices through the NAND mirroring technique. Such factors are likely to inhibit growth of the global NAND technology market during the predicted period.