Store this fact: Lexar records 200% revenue growth in GCC
Amidst massive retail expansion
Lexar, a leading global brand of flash memory solutions, has recorded a 200% revenue growth milestone in the Gulf Cooperation Council (GCC) region over the past two years, driven by increasing demand for high-performance data storage across various industries.
This growth has been complemented by a marked increase in market share and extensive retail expansion in the oil-rich region.
Lexar specialises in advanced storage solutions for photographers, videographers, gaming enthusiasts, content creators,
Under the direction of Fissal Oubida, Director for the Middle East, Africa, and Indian Subcontinent, Lexar has established a strong presence in over 400 retail stores across the UAE, Saudi Arabia, Qatar, Oman, and Bahrain, capturing nearly 20% of regional sales.
Oubida said: “The Middle East is undeniably one of Lexar’s top-performing markets. Our continued expansion showcases the region’s potential. We are committed to meeting the rising demand for advanced memory solutions.”
GITEX Global 2024
Lexar will unveil its latest innovations at GITEX Global 2024, the world’s largest technology event, from October 14 to 18 at Hall 1, Booth A30, Dubai World Trade Centre.
Lexar is poised to introduce a cutting-edge lineup of microSD cards, internal SSDs, DRAM, and portable SSDs at GITEX Global this year. These products promise seamless compatibility with various devices, enabling users to easily capture and play high-definition multimedia, including 8K videos.
With a commitment to innovation and quality, Lexar offers consumers and professionals a wide range of products, including SSDs, USB drives, and memory cards. The company is pivotal in shaping the digital storage landscape and enhancing how users manage and share data.
In 2023, San Jose, California-headquartered Lexar reported a global turnover exceeding $500 million, reflecting its strong market presence and dedication to memory and storage industry excellence.
As of 2024, the global memory and storage solutions market is valued at approximately $100 billion, while the semiconductor memory market reached $111.62 billion in 2023 and is projected to expand at a CAGR of 11.6% through 2030.
Additionally, the memory devices market is forecasted to grow from $136.32 billion in 2022 to $360.22 billion by 2029, reflecting a robust industry trajectory.
Featured image: SL500 Portable SSD, the latest addition to Lexar’’s portable SSD lineup. Credit: Lexar
