Micro SD Card Adapter Market Size is Expected to Reach $40.4 Million by 2031 | Fujitsu, Verbatim

According to a new report published by Allied Market Research, titled, "Micro SD Card Adapter Market By Application (Cameras, Smartphones, Tablet/PCs, GPS Devices, Others): Global Opportunity Analysis And Industry Forecast, 2022-2031" The micro SD card adapter market size was valued at $32.46 million in 2021, and is estimated to reach $40.4 million by 2031, growing at a CAGR of 2.4% from 2022 to 2031.

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Micro SD card adapters play a key role by providing contact points between micro SD cards and reader slots on host device such as GPS devices in drones. Availability of high-speed internet in drones enables users to communicate in high demanding environments to perform operations such as autonomous flying, command & control, and media sharing. Such varied benefits boost demand for drones, which is expected to offer lucrative opportunities for the micro SD card adapter market during the forecast period. Rise in adoption of micro SD cards lead to increase in micro SD card adapters as it reads SD cards for integrating these cards in several applications. Key applications of these cards are in computer, mobile phones, and digital camera. Furthermore, usb micro SD card reader have high performance, memory-expansion option, and are water resistant with a capability to withstand extreme climatic conditions.

Some key players are focused on enhancing features of micro SD cards to attract customers and increase sales. For instance, in September 2021, samsung launched a new product fast and durable pro plus and enhanced evo plus micor SD cards for day to day users. Which include SD adapter to expand its usage. This helps to save and retrieve data easily. The new microSD cards are ideal for expanded mobile device storage and capturing high-quality photos, 4K Ultra HD (UHD) video and other content on action cameras and drones - even in extreme conditions.

The micro SD card adapter industry is growing, owing to rise in demand for connected devices that need more storage. Technological innovations, particularly Internet of Things, is a significant factor for the market expansion. A number of applications and expanding gaming trend have a positive impact on growth of this market. In addition, rise in labor & energy costs and increase in use of micro SD cards in different applications are expected to contribute toward micro SD card adapter market growth.However, availability of several wireless technologies such as WiFi and Bluetooth hinders the market growth. Conversely, surge in adoption of drones in emerging economies and increase in use in adverse applications are expected to provide lucrative micro SD card adapter market opportunity during the forecast period. The micro SD card adapter market is projected to grow at a good pace in the upcoming years after the recovery from the COVID-19 pandemic.

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According to global micro SD card adapter micro SD card adapter market trends, the cameras segment held the dominating market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR during the forecast period, owing to rise in demand for digital cameras among people for image and video capturing purposes is expected to drive the micro SD card adapter market growth.

The outbreak of COVID-19 has significantly impacted the growth of the global micro SD card adapter industry in 2020, owing to significant impact on prime players operating in the supply chain. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as lack of skilled workforce availability and delay or cancelation of projects due to partial or complete lockdown, globally.

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Country wise, China holds a significant micro SD card adapter market share, owing to the presence of prime players. Major organizations and government institutions in the country are intensely putting resources into these global micro SD card adapter these prime sectors has strengthened the growth of the global micro SD card adapter market in the region.

KEY FINDINGS OF THE STUDY
• In 2021, the camera segment accounted for maximum revenue, and is projected to grow at a notable CAGR during the forecast period.
• China contributed for the major share in the micro SD card adapter market, accounting for highest revenue share in 2021.

The key players profiled in the micro SD card adapter market analysis are Samsung electronics, Sandisk, Fujitsu, Inc., Verbatim, Transcend Information Inc., Kingston Technology, Lexar, UNIREX, Inc., NavionTruck, and Schneider Electric. These players have adopted various strategies such as product launch and merger & acquisition to increase their market penetration and strengthen their position in the industry.

Report Overview: https://www.alliedmarketresearch.com/micro-sd-card-adapter-market-A31510

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