• Pen drive category continued its dominance with 68% share.
• MicroSD card shipments witnessed 5% YoY decline.
• SD card shipments declined by 14% YoY.

Gurugram/New Delhi, Feb 29, 2024: According to CMR’s India Consumer Storage Flash Devices Market Review Report for CY2023 released today, the India Consumer Storage market (MicroSD, Pen drive and SD card) shipments recorded 6% YoY growth in CY2023. However, the market shipments declined by 27% QoQ in Q4 2023.

Shipra Sinha, Senior Analyst – Industry Intelligence Group, CyberMedia Research (CMR),“The pen drive market emerged as the primary driver, experiencing a 13% YoY growth in shipments, contributing significantly to the overall market expansion. However, microSD cards, once dominant in the market, faced challenges. The proliferation of smartphones offering substantial internal storage has minimized the requirement for external expansion devices. Furthermore, flagship devices increasingly prioritize sleek designs over microSD slots, further dampening demand. In 2023, a notable 45% YoY growth was recorded in smartphones without a MicroSD card slot.”

CY2023 Highlights

SanDisk was the leader with market share of 62%. HP secured the second spot with 8% share, its shipments recorded 23% YoY growth. Kingston occupied the third position with 19% YoY growth in its shipments. The lesser-known brands collectively captured 17% market share.

The 32GB capacity was the most popular segment with share of 39%. The 64GB capacity segment captured 26% market share. 128GB capacity shipments recorded notable 42% YoY growth.

Future Trends

CMR anticipates the microSD cards market to witness single digit decline by the end of CY2024. In contrast, the Pen drive market is poised to achieve a YoY growth between 15%-20% by the end of CY2024.

“In 2024, the microSD card market is expected to continue its decline owing to the popularity of cloud storage and streaming services, while the pen drive market is poised for growth with its portable data management solution. Technological advancements in pen drive design will fuel this growth. To revive the microSD market in India, targeting budget users, gamers, and professionals with affordable and high-performance options, alongside consumer education, should be the key strategies. A notable shift towards higher capacities will be observed.” added Shipra.