$107+ Mn USB Flash Drive Market is Expected to Grow at a CAGR of over 7.1% During 2022-2028 | Vantage Market Research

WASHINGTON, April 20, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global USB Flash Drive Market finds that increasing demand for secure data transfer, government standards for encryption of electronic data and are factors that influencing the growth of USB Flash Drive Market. Additionally, the ability of being user-friendliness, compact size, portability, and cost-effectiveness is further increasing the demand for USD flash drives further propelling the market growth over the forecast period.

The total Global USB Flash Drive Market is estimated to reach USD 1,0754.4 Million by 2028.

The Market stood at a revenue of USD 7,126.1 Million in the year 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.1%, states Vantage Market Research, in a report, titled “USB Flash Drive Market Size, Share & Trends Analysis Report by Type (8 GB, 16 GB, 32 GB, 64 GB), by Application (Personal Use, Office Use, Others), by Distribution Channel (Online, Offline), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

Market Dynamics:

Drivers:

Increasing Adoption of USB Flash Drive Market

Data transfer security is one of the greatest concern now a days. USD Flash drive offers the safe data transfer which have led to increase the adoption across the globe. According to the data over 54 million units were sold in 2021. Huge adoption coupled with the affordable price have boosted the demand for the USB Flash Drive Market. In developing countries such as India and China the market possesses a huge potential owing to the presence of huge working population. Flash drive not only used in the data transfer but are also used in saving the data. Being easy to carry and accessible make it more preferable than other available options such as CD drive.

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Key Insights & Findings from the Report:

• According to our primary respondents’ research, the USB Flash Drive market is predicted to grow at a CAGR of roughly 7.1% during the forecast period.
• The USB Flash Drive market was estimated to be worth roughly USD 7,126.1 Million in 2021 and is expected to reach USD 1,0754.4 Million by 2028; based on primary research.
• On the basis of region, Asia Pacific is projected to dominate the worldwide USB Flash Drive market.    
  

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Segmentation of USB Flash Drives Market:

• Type
  • 8 GB
  • 16 GB
  • 32 GB
  • 64 GB
  • 128 GB
  • Others
• Application
  • Personal Use
  • Office Use
  • Others
• Distribution Channel
  • Online
  • Offline
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

The Report on USB Flash Drive Market Highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates and Forecast
• Company Profiles
• Global and Regional Dynamics
  

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Regional Analysis:

Asia Pacific Holds Maximum Market Share

Asia Pacific is expected to dominate the growth of USB Flash Drive Market in 2021. The major driving factors for the market are presence of presence of the prominent market players in the region. Additionally, Advanced Encryption Standards (AES) are helping in mounting the demand for encrypted USB Flash Drive Markets. Thus, providing the opportunity for the market, further propelling to market growth.

List of Prominent Players in the USB Flash Drive Market:

• Lexar
• SanDisk
• Sony
• Kingston
• Transcend
• HP
• Corsair
• Moser Baer
• Imation
  

Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on "USB Flash Drive Market Size, Share & Trends Analysis Report by Type (8 GB, 16 GB, 32 GB, 64 GB), by Application (Personal Use, Office Use, Others), by Distribution Channel (Online, Offline), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/usb-flash-drive-market-323744

Recent Developments:

May 2020: Kanguru Solutions had introduced AES 256-bit, hardware encrypted USB drives to protect critical data during global COVID-19 pandemic. The solution can help organizations to protect the sensitive data from hackers under full 256-bit hardware encryption.

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the USB Flash Drive Market?
• How will the USB Flash Drive Market change in the upcoming six years?
• Which application and product will take a lion’s share of the USB Flash Drive Market?
• What is the USB Flash Drive market drivers and restrictions?
• What will be the CAGR and size of the USB Flash Drive Market throughout the forecast period?          

This market titled “USB Flash Drive Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Parameter	Details
Market Size Provided for Years	2016-2028
Base Year	2021
Historic Years	2016-2020
Forecast Years	2022-2028
Segments Covered	• Type        • 8 GB        • 16 GB        • 32 GB        • 64 GB        • 128 GB        • Others  • Application        • Personal Use        • Office Use        • Others  • Distribution Channel        • Online        • Offline  • Region        • North America        • Europe        • Asia Pacific        • Latin America        • Middle East and Africa
Region & Counties Covered	• North America        • U.S.        • Canada        • Mexico  • Europe        • U.K.        • France        • Germany        • Italy        • Spain        • Rest Of Europe  • Asia Pacific        • China        • Japan        • India        • South Korea        • South East Asia        • Rest Of Asia Pacific  • Latin America        • Brazil        • Argentina        • Rest Of Latin America  • Middle East & Africa        • GCC Countries        • South Africa        • Rest Of Middle East & Africa
Companies Covered	• Lexar  • SanDisk  • Sony  • Kingston  • Transcend  • HP  • Corsair  • Moser Baer  • Imation
Report Coverage	Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

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• Top Companies in the USB Flash Drive Market:- https://v-mr.biz/usb-flash-drive-market
  

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