Semiconductor Memory Market Forecasts to 2028 – Global Analysis By Type (Non-volatile Memory and Volatile Memory), Application (Aerospace & defense, Automotive and Other Applications) and Geography
According to Stratistics MRC, the Global Semiconductor Memory Market is accounted for $107.48 billion in 2022 and is expected to reach $169.61 billion by 2028 growing at a CAGR of 7.9% during the forecast period. A digital semi-conductor electronic system called semiconductor memory is used to store digital data. A crucial part of recent electrical devices is semiconductor memory. The demand for high-capacity, low-power memory is rising quickly as the size reduction of today's smart portable electronics devices improves overall performance. The running time of the microprocessor should be consistent with the access time of the data stored in primary memory. Therefore, semiconductor devices are recommended for use as main memory. In the assembly of electronics, which makes use of computer processing technologies, semiconductor memory is widely used. It is one of the most crucial electronic parts required for every PCB construction that uses computers.
According to the Consumer Electronics Association's Digital America 2019 study, about 29 million U.S. households had wearable sleep tracking devices in 2019. In addition, the country sold USD 9.7 billion worth of wearable electronic devices in 2020, representing a 13.1% year-on-year increase over 2019. Low-power memory components such as MRAM, EEPROM, and NAND Flash memory are widely used in wearable electronic devices.
Market Dynamics:
Driver:
Rising Consumption of Consumer Electronics Goods
Rapid population growth, rising household disposable income, and increased urbanisation all contribute to the enormous demand for both basic and cutting-edge consumer electronics products. For effective and suitable operation, integrated circuit (IC) chips are found in a variety of electronic gadgets, including cell phones, washing machines, TVs, and refrigerators. To meet the growing customer demand for cutting-edge devices and promote the market's expansion, a number of top consumer electronics companies, including Samsung, Apple, and Huawei, are investing heavily in the development of new products.
Restraint:
High production costs
Despite their many benefits, semiconductor memory solutions are quite expensive to buy because of their high production costs. Many end consumers are reluctant to purchase it as a result. Additionally, manufacturers deal with issues related to cost, such as high employment and labour costs in the United States. Therefore, throughout the anticipated period, these factors are anticipated to hinder the expansion of the worldwide semiconductor memory market.
Opportunity:
Rapid development in automotive technologies
Because of its superior performance and advantages in terms of low power consumption, the car industry is increasingly employing memory solutions for its safety systems. Particularly for full in-vehicle infotainment (IVI) systems and vehicle-to-everything (V2X) connection, memory solutions are playing a critical role in autonomous driving capabilities. Power memory solutions are needed for these technologies, with Samsung leading the pack. For instance, Samsung memory provides automotive systems that drive various capabilities like HD mapping, fusion, and vision computing. Therefore, during the course of the forecast period, these factors are anticipated to fuel the expansion of the worldwide semiconductor memory market.
Threat:
Constant fluctuations in raw material supply
The primary raw material needed to create semiconductor devices is silicon, which is formed into boules or single-crystal ingots. Other semiconductor materials include germanium, gallium arsenide, silicon carbide, and others. Due to the difficulty of obtaining these resources, supply issues with frequent swings are a persistent problem. Thus, during the course of the forecast period, these factors are anticipated to restrain the expansion of the worldwide semiconductor memory market.
Covid-19 Impact
Due to the closure of numerous consumer electronics and automobile production sites in the first half of 2020, the COVID-19 had a little effect on the market. Due to the restrictions on international trade put in place by several countries, the sector participants saw serious supply-chain disruptions. Sales of consumer electronics like laptops, PCs, and tablets increased as a result of the expanding work-from-home culture, helping semiconductor memory manufacturers throughout the epidemic. Market leaders are also planning their business operations by moving their manufacturing facilities to new areas and buying raw materials and components from regional businesses.
The dynamic random-access memory (DRAM) segment is expected to be the largest during the forecast period
The dynamic random-access memory (DRAM) segment is estimated to have a lucrative growth, due to the development of artificial intelligence (AI) in smart watches, laptops, and smartphones, which calls for complementary memory products. Additionally, the growing integration of electronic components into automobiles is anticipated to open up new potential prospects for DRAM semiconductor memory market participants. DRAM memory improves connectivity and high-speed to car systems and is used in Advanced Driver Assistance Systems (ADAS) and lighting management. In addition, a number of market participants are providing automotive semiconductor memory chips to meet the rising demand in the automobile sector.
The consumer electronics segment is expected to have the highest CAGR during the forecast period
The consumer electronics segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the rising use of semiconductor memory in smartphones, tablets, and wearable technology worldwide is expected to create considerable growth prospects for all the firms involved in the value chain in the consumer electronics vertical. The consumer electronics sector is increasingly adopting semiconductor memory due to its many benefits, which include expanded storage, enhanced volatile memory, high durability, and reduced power consumption. In order to offer consumers high technology items, consumer electronics producers are also working with technology suppliers.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increase in demand for semiconductor memory in the region is linked to growing data centre investments in nations like India, Singapore, and Indonesia. Additionally, developing nations like China, Japan, and India are aiding market expansion because of a variety of causes including increased manufacture of memory chips and consumer electronics items, greater digitization, and increased uptake of high-tech devices.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period. Germany, France, the United Kingdom, and Italy were predicted to experience the highest growth in the region prior to the COVID-19 outbreak because of an increase in corporate research and development (R&D) activities and the presence of significant market players committed to the creation of new technologies. However, given the deteriorating conditions in Italy, Spain, Germany, and France, it is anticipated that COVID-19 will have a long-term influence on the European market.
Key players in the market
Some of the key players profiled in the Semiconductor Memory Market include Micron Technology, Samsung Electronics, SK Hynix, Texas Instruments, Integrated Silicon Solution Inc., Toshiba, Taiwan Semiconductor, Cypress Semiconductor Corporation, Macronix International Co., Ltd., IBM, Broadcom Inc, Wipro, Sony Samsung Electronics Co., Ltd., Intel Corporation, Qualcomm Inc. and Nvidia Corporation.
Key Developments:
In September 2021, Toshiba Electronic Devices & Storage Corporation launched a new M4G Group of Arm Cortex-M4 Microcontrollers for high-speed data processing products in the TXZ+TM Family Advanced Class.
In February 2020, Toshiba Electronic Devices and Storage Corporation launched TC78H670FTG, the latest addition to its micro-stepping integrated circuit portfolio. This new IC will drive a 128 micro-stepping motor within the power range of 2.5V to 16V.
Types Covered:
• Non-volatile Memory
• Volatile Memory
• Rigid Bulk Products
Applications Covered:
• Aerospace & defense
• Automotive
• Consumer electronics
• Industrial
• Medical
• IT & Telecommunication
• Other Applications
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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