Gurugram/New Delhi, Dec 6, 2024: According to the latest India Consumer Storage Flash Devices Market Review Report for Q3 2024 by CyberMedia Research (CMR), the Indian consumer storage market witnessed a 15% sequential decline and a 42% year-over-year drop in shipments during the quarter.
According to Mukesh Sharma, Senior Analyst, Industry Intelligence Group (IIG), CyberMedia Research (CMR), “The MicroSD card segment has faced notable declines due to the growing adoption of cloud storage solutions and smartphones with larger built-in storage capacities. However, pen drives retained their market leadership with a commanding 65% share. As technology reshapes consumer storage preferences, the market is undergoing dynamic transformation. While Q3 2024 experienced a downturn, a recovery is anticipated as the industry adapts to evolving trends and consumer demands.”
Key Market Highlights for Q3 2024:
Technology Trends:
- Flash Drives: The 32GB capacity remains the top choice, contributing 29% to the market share.
- Micro SD Cards: The 128 GB segment accounts for 26% of the market.
Market Landscape:
- Pen Drives: SanDisk led with an impressive 66% market share in Q3 2024. EVM was ranked a distant second with 10%, followed by HP at third position with 7% market share.
- Micro SD Cards: SanDisk commanded an equally impressive 39% market share, with Samsung in second place at 7%, and Hikvision securing the third spot 6% share.
Future Outlook
CyberMedia Research (CMR) projects a single-digit decline in the MicroSD card market by the end of CY2024, despite growth driven by evolving digital needs. The rising demand for smartphones, tablets, and other digital devices, coupled with the proliferation of AI-powered applications and high-definition content, continues to influence the MicroSD card market.
In contrast, the flash drive market is expected to grow by 9% – 12% YoY by the end of CY2024, fuelled by the adoption of advanced technologies like USB 3.2 and USB-C, which cater to the increasing need for faster and more efficient storage solutions.
“MicroSD cards and pen drives remain essential to the consumer storage ecosystem, driven by increasing multimedia consumption and the demand for portable data storage. The market is moving towards mid-to-high storage capacities, faster transfer speeds, and enhanced durability. Pen drives, in particular, are becoming a preferred choice for data security, offering solutions to privacy concerns posed by cloud storage breaches. These trends highlight a dynamic future, marked by steady growth and continuous innovation,” noted Bhaskar Negi, Analyst – Industry Intelligence Group (IIG) at CyberMedia Research (CMR).
Notes for Editors
- CyberMedia Research (CMR) is a pioneering market intelligence and consulting firm that runs a comprehensive quarterly market update on the India Consumer Storage market. CMR’s India Quarterly Consumer Storage Flash Memory Market Review covers Micro SD cards, SD cards and Flash drives sold via distributors and retail outlets. The report accounts for ‘legal’ shipments but does not include bundled or ‘grey’ market shipments or units brought from abroad by individuals as a part of personal baggage.
- CMR uses the term “shipments” to describe the number of consumer storage flash memory devices leaving the factory premises for OEM sales or stocking by distributors and retailers. For the convenience of media, the term ‘shipment’ is sometimes replaced by “sales” in the press release, but this reflects the market size in terms of units of consumer storage flash memory devices and not their absolute value. In the case of flash memory devices imported into the country, it represents the number leaving the first warehouse to OEMs, distributors and retailers.
