Automotive Memory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Memory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global automotive memory market size reached US$ 5.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.2 Billion by 2028, exhibiting a growth rate (CAGR) of 13.4% during 2023-2028.

Automotive memory represents a data storing, accessing, and transferring solution that is considered similar to commercial memories in function, although it performs different operations in vehicles. It can be compared with error-correcting code (ECC) memories, wherein memory access must be proper, and the information stored. It includes dynamic random-access memory (DRAM), static random-access memory (SRAM), read-only memory (ROM), FLASH-based storage, and magneto-resistive random-access memory (MRAM) testing. These solutions help convey information between functions in the car and make instant decisions after analyzing real-time data to ensure comfort and safe driving with little-to-no human intervention. Based on these properties, automotive memory finds extensive applications in advanced driving assistance systems (ADAS), multi-camera vision, digital cluster instruments, infotainment solutions, and powertrains.

Automotive Memory Market Trends:
The global automotive memory market growth is impelled by the increasing need for modern vehicles with infotainment and engine control systems. This is further influenced by the growing demand for onboard or cloud technologies in vehicles to perform surveillance, automatic trolling, lane, parking, and traffic signal management operations. Additionally, the rising incidences of road accidents and the enforcement of stringent safety regulations by governments have prompted the incorporation of the ADAS system in automobiles, which is further supplementing the market growth. In line with this, the extensive integration of safety electronics, including airbags, robust chassis, blind-spot displays, obstacle identifiers, traction control, and sensor-guided solutions, is propelling the market growth. Moreover, the advent of next-generation clusters that enable the display of high-definition (HD) content and streaming music/video is favoring the market growth. Apart from this, rapid expansion in the automotive sector and the ongoing development of non-contact three-dimensional (3D) magnetic sensors to replace potentiometers that utilize conventional position-sensing approaches are positively augmenting the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive memory market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, vehicle type and application.

Breakup by Product:

DRAM
NAND
SRAM
NOR
Others

Breakup by Vehicle Type:

Passenger Vehicles
Commercial Vehicles

Breakup by Application:

Infotainment and Connectivity
ADAS
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Infineon Technologies AG, Integrated Silicon Solution Inc., Macronix International Co. Ltd., Micron Technology Inc., Nanya Technology Corporation, Renesas Electronics Corporation, Samsung Electronics Co. Ltd., SK hynix Inc., Texas Instruments Incorporated, Western Digital Corporation and Winbond Electronics Corporation.

Key Questions Answered in This Report

1. How big is the global automotive memory market?
2. What is the expected growth rate of the global automotive memory market during 2023-2028?
3. What are the key factors driving the global automotive memory market?
4. What has been the impact of COVID-19 on the global automotive memory market?
5. What is the breakup of the global automotive memory market based on the product?
6. What is the breakup of the global automotive memory market based on the vehicle type?
7. What are the key regions in the global automotive memory market?
8. Who are the key players/companies in the global automotive memory market?