Memory Integrated Circuit (IC) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Memory Integrated Circuit market is anticipated to witness a CAGR of 7.6% over the forecast period (2021 - 2026). Recent technological advancements in this field have been revealing new applications each day. Rising proliferation of smartphones, feature phones, and tablets, growing demand for low-power memory requirements in portable wireless devices, increasing demand for Solid State Drives (SSD) in big data storage applications are some of the major factors influencing the growth of the market for memory integrated circuit devices.
Key HighlightsThe Memory Integrated Circuit (IC) Market is highly competitive and is currently dominated by a few players with their technological expertise in advanced semiconductor technology. The global market is expected to be consolidated in nature, and the major players with a prominent share in the market are focusing on product developments and strategic collaborative initiatives to increase their market share and their profitability. However, the market is expected to witness growing competition and the emerging presence of multiple players during the forecast period. Microchip Technology Inc., STMicroelectronics, ON Semiconductor Corporation, Maxim Integrated Products, Inc., Fujitsu Ltd., Cypress Semiconductor Corporation, ABLIC Inc., Renesas Electronics Corporation, ROHM Semiconductor Co., Ltd., and Adesto Technologies Corporation are some of the major players present in the current market.
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