LONDON--(BUSINESS WIRE)--Technavio projects the global OTG pen drive market to register a revenue of over USD 1 billion by 2022, according to their latest market research report 2018.
The rise in demand for digital data storage is a significant driver that will impact market growth during the forecast period. The growth of the global OTG pen drive market is driven by the increasing digitization of projects across organizations and the momentum in the adoption of hybrid memory arrays with reprogrammable and erasable memory. OTG pen drives offer fast data transfer between various devices on which the digital data is being processed or stored.
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In this report, Technavio highlights the introduction of rugged OTG pen drives as one of the key emerging trends to drive the global OTG pen drive market:
Global OTG pen drive market driver: Introduction of rugged OTG pen drives
The portability of digital devices helps in staying connected professionally and personally. There is high demand for waterproof and rugged flash drives which are resistant to physical damage and a security against data loss. In the rugged series, USB flash drives have been launched with a rubberized design that makes them suitable for outdoor use.
According to a senior analyst at Technavio for computing devices research, “The trend of making OTG pen drives durable against water, dust, and scratches are expected to propel the market during the forecast period. With the increasing penetration of OTG pen drives, vendors are anticipated to include extra features such as encryption coding or password protection, multi-language translation support, and antivirus protection.”
Global OTG pen drive market: Segmentation analysis and forecast through 2022
This market research report segments the global OTG pen drive market by type (iOS OTG pen drives, Android OTG pen drives, and Type C OTG pen drives), and key regions (the Americas, APAC, and EMEA).
In 2017, the global OTG pen drive market was dominated by APAC with a revenue share of close to 53% followed by the Americas and EMEA respectively. The market share of APAC and EMEA is expected to increase during the forecast period while the Americas will see a decline in its market share.
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