One of the key factors contributing to this market growth is the high adoption of smartphones and tablet PCs. The Global NAND Flash market has also been witnessing reducing average selling prices of NAND flash. However, the low adoption rate of ultrabooks could pose a challenge to the growth of this market.

　　Key vendors dominating this market space include Micron Technology Inc., Samsung Electronics Co. Ltd., SK Hynix Inc., and Toshiba Corp.

　　Other vendors mentioned in the report are Intel Corp. and SanDisk Corp.

　　Commenting on the report, an analyst from the Hardware team said: The steadily declining ASP of NAND flash during the forecast period is an important trend witnessed in the Global NAND Flash market. The expected causes of this price reduction are the lower raw material and manufacturing costs, and the increasing R&D spending by manufacturers. The declining ASP of NAND flash will drive its adoption by the end-user segments. It will also facilitate the smartphone, SSD, computing device, consumer electronics device, and tablet PC manufacturers to expand their target market. In addition, the reducing ASPs will also tend to increase the number of applications for NAND flash, which will thereby contribute to the growth of this market during the forecast period.

　　According to the report, one of the main drivers in the market is the high adoption of smartphones and tablet PCs. As a result of the increased functionality provided by smartphones as against feature phones, smartphones are gaining more popularity among consumers. Tablets PCs are fast emerging as the next-generation computing devices owing to their high flexibility and enhanced functionality. These factors have led to the increasing adoption of smartphones and tablet PCs. Their adoption is expected to increase further during the forecast period, thereby increasing the demand for NAND flash.