- Pen drive category continued its dominance with 67% share.
- MicroSD card shipments recorded 15% YoY growth.
- 32GB was the most popular capacity with 38% share.
According to CMR’s India Consumer Storage Flash Devices Market Review Report for Q3 CY2023 released today, the India Consumer Storage market (Micro SD, Pen drive and SD card) shipments recorded 15% YoY growth in Q3 CY2023. The market shipments also increased by 15% QoQ.
Shipra Sinha, Analyst – Industry Intelligence Group, CyberMedia Research said, “The MicroSD card category continues to face persistent challenges, attributed to the widespread adoption of smartphones with larger internal storage capacities. Nevertheless, during Q3 2023, the undeniable allure of special festive season offers played a pivotal role in propelling growth for both the MicroSD and Pen drive markets. Notably, the Pen drive market emerged as the primary driver, experiencing a substantial 17% year-on-year growth in shipments.”
Q3 CY2023 Highlights
SanDisk led with a dominating 57% market share, followed by HP at 10% with a substantial 42% YoY growth in shipments. Kingston secured the third position with an 8% YoY growth.
Future Trends
CMR anticipates the MicroSD cards market to witness single digit decline by the end of CY2023. In contrast, the Pen drive market is poised to achieve a YoY growth between 15%-20% by the end of CY2023.
“The increasing storage capacity of smartphones poses challenges to the MicroSD card market. Conversely, the demand for On-The-Go (OTG) drives is expected to fuel the growth of the Pen drive market. Despite these challenges, the integration of MicroSD cards into a diverse range of devices, encompassing smartphones, IoT devices, cameras, drones, and portable audio players, has expanded their utility. This trend will likely serve as a catalyst for the future growth of the MicroSD market, as these devices often rely on MicroSD cards for expandable storage,” stated Shipra.
