Portland, OR, June 21, 2021 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, 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.
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.
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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…