Next Generation Non-Volatile Memory Market Size, Share & Trends Analysis Report By Type (Hybrid Memory Cube, High-bandwidth Memory), By Wafer Size (200 mm, 300 mm), By Application, By Region, And Segment Forecasts, 2024 - 2030

Next Generation Non-Volatile Memory Market Size, Share & Trends Analysis Report By Type (Hybrid Memory Cube, High-bandwidth Memory), By Wafer Size (200 mm, 300 mm), By Application, By Region, And Segment Forecasts, 2024 - 2030

Next Generation Non-Volatile Memory Market Growth & Trends

The global next generation non-volatile memory market size is expected to reach USD 18.23 billion by 2030 and is projected to grow at a CAGR of 17.8% from 2024 to 2030, according to a new study by Grand View Research, Inc. Increasing need for fast and economical storage solutions across diverse applications is estimated to drive industry growth over the forecast period.

Next Generation Non Volatile Memory is used for various applications such as enterprise, industrial and automotive to store and manage information, which is expected to augment market growth over the next six years. Increasing use of Next Generation Non Volatile Memory in mobile phones to enhance customer experience is expected to fuel market growth.

The increasing demand for wearable electronics and replacement of flash memory storage may provide new growth avenues to the Next Generation Non Volatile Memory industry. Low environment stability and high design cost may act as a restraint to market growth over the forecast period.

All common computing platforms from handheld devices to supercomputers use storage systems to store data permanently or temporarily. Smart cards store a few bytes of data and are expected to grow at a significant rate over the forecast period. Economical and efficient solution development is expected to be a critical success factor for industry players.

The Asia Pacific market is expected to grow at a considerable rate owing to increasing demand for smartphones and tablets. Additionally, presence of key market players in countries such as China, India, Japan and South Korea is also expected to positively impact the regional market over the forecast period.

Next Generation Non-Volatile Memory Market Report Highlights

• In 2023, high-bandwidth memory (HBM) segment emerged as the market leader, capturing the largest revenue share of 59.1% owing to the growing need for high band-with, low power consumption and adoption of emerging technologies like AI & big data analytics and rising trend of consumer electronic devices.
• BFSI accounted for the largest market revenue share of 23.1% in 2023. The BFSI sector extensively leverages IoT and AI technologies to achieve substantial benefits.
• The next generation non volatile memory market in North America is projected to witness the fastest CAGR of 18.9% during the forecast period, driven by factors the increasing construction of new infrastructures like data centers and the rapid growth of the digital economy in countries such as the U.S. and Canada.
• In 2023, Asia Pacific next generation nonvolatile memory market emerged as the leader in the market, capturing a significant revenue share of 49.20%, driven by factors inherent in its dynamic business environment.

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