PORTLAND, OREGON, UNITED STATES, August 31, 2021 /EINPresswire.com/ — Surge in adoption of embedded multimedia cards in the automotive industry, rise in demand from electronic devices, and high demand for integrated memory in mobile computing devices have boosted the growth of the global embedded multimedia card market. However, continuous development in technology and evolution of new storage devices hamper the market growth. On the contrary, increase in development of Chromebooks is expected to open new opportunities for the market players in the coming years.
As per the report published by Allied Market Research, titled, “Embedded Multimedia Card (eMMC) Market by Density (2GB–4GB, 8GB–16GB, 32GB–64GB, and 128GB-256GB), Application (Smartphones, Digital Cameras, GPS Systems, Medical Devices, and Others), and End User (Automotive, Aerospace & Defense, Industrial, Healthcare, Public, IT & Telecom, and Other): Global Opportunity Analysis and Industry Forecast, 2021–2028” the global embedded multimedia card (eMMC) market generated $9.30 billion in 2019, and is expected to garner $11.53 billion by 2028, registering a CAGR of 3.3% from 2021 to 2028.
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The Covid-19 pandemic severely affected the semiconductor and electronics industry as majority of the electronic components are imported from China. The temporary shutdown of manufacturing units and hike in prices of semiconductor components affected the market.
The reduction in various capital budgets and delay in numerous planned projects negatively affected the eMMC market.
The global embedded multimedia card market is segmented on the basis of density, application, end user, and region.
Based on application, the GPS system segment held the lion’s share in 2019, accounting for around one-third of the market. Moreover, the segment is expected to register the highest CAGR of 4.2% during the forecast period.
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On the basis of end user, the automotive segment dominated the market in 2019, contributing to around one-fourth of the market. In addition, the segment is projected to portray the highest CAGR of 4.5% from 2021 to 2028.
The global embedded multimedia card (eMMC) market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2019, accounting for nearly two-fifths of the market. However, the market across Europe is anticipated to manifest the highest CAGR of 4.1% during the forecast period.
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The global embedded multimedia card market includes an in-depth analysis of the prime market players such as Samsung Electronics Co. Ltd., Western Digital Corporation, SK Hynix Inc., Phison Electronics Corporation, Greenliant Systems Inc., Kingston Technology Company Inc., Micron Technology, Inc., Silicon Motion Technology Corporation, Transcend Information, Inc., and Toshiba Corporation.