The semiconductor memory market is predicted to be worth US$ 172.0 billion in 2023, rising to US$ 354.5 billion by 2033. During the projection period, semiconductor memory sales are expected to grow at a substantial CAGR of 7.5%.
The spike in demand for memory and storage devices in next-generation connected automobiles and automotive safety systems is due to the market’s expansion. Electronics typically utilise semiconductor memory. It is a type of semiconductor device that saves digital data. The semiconductor memory is used in any piece of equipment that has a processor or controller of any kind.
There can be an increase in demand for semiconductor-based memory devices due to the growth in the number of data centres being built throughout the world and the high storage needs of different organisations.
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The growth of colocation datacenters and hyperscale data in developed nations is driving up the price of semiconductor memory, which in turn is driving up the demand for connectivity, management, and storage of massive amounts of commercial data from mega facilities.
The semiconductor memory market is predicted to expand as a result of rising smartphone saturation, technological improvements, greater use and interest in smart gadgets, and other factors. The significant market launch of mobile computing and solid-state drives (SSD) is expected to assist worldwide business growth. Furthermore, the expanding demand in the electronics industry has a substantial impact on corporate expansion.
Key Takeaways from Market Study:
- Recent years have seen a huge rise in the demand for smartphones, particularly in the Middle East and North America. The GSM Association estimates that 5.1 billion people worldwide, or 67% of the population, were mobile customers in 2018.
- Consumer electronics commanded the worldwide semiconductor memory market and held close to 35% of the market share based on application. With the increasing use of semiconductor memory in wearable technology, smartphones, and tablets around the world, the segment is predicted to present all market participants engaged in the value chain with enticing growth prospects.
- The Dynamic Random Access Memory (DRAM) sector, with a revenue share of more than 45%, dominated the market. The rise in demand is related to the development of artificial intelligence (AI) in smartphones, smartwatches, and laptops, which necessitates compatible memory products.
- With a value share of more than 45% in the global semiconductor memory market in 2022, the Asia Pacific region held the top spot. This is indicated by the rising investments in data centers in nations like Singapore, India, and Indonesia, which has led to a significant increase in the demand for semiconductor memory in the region.
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Competitive Landscape:
Due to the prominently shifting consumer preferences, there is intense competition among industry competitors in the worldwide semiconductor memory market. Consumer expectations have radically changed as a result of the application of modern technologies in consumer electronics, automotive, IT & telecom, medical, and other sectors, boosting competition among players. To meet the increased customer expectations, market firms are also making huge investments in research and development. In turn, this expands their product line and strengthens their market position.
- Key market players are concentrating on product releases to increase their market presence. For instance, SK Hynix, Inc. introduced their PCIe SSD, the SK Hynix Gold P31 semiconductor, in August 2020.
- To acquire a competitive advantage in the market, the leading market players are concentrating on capacity growth. For instance, in May 2020, Samsung Electronics Co. Ltd. Expanded its sixth domestic contract chip production line in South Korea.
Key Segments Covered in the Market Report
By Type:
- RAM
- Static Random-access Memory (SRAM)
- Synchronous Dynamic Random Access Memory (SDRAM)
- Magneto-resistive Random-access Memory (MRAM)
- Dynamic Random-access Memory (DRAM)
- ROM
- Electrically Erasable Programmable Read Only Memory (EEROM)
- Programmable Read Only Memory (PROM)
- Erasable Programmable Read Only Memory (EPROM)
- Flash Memory
Application:
- Aerospace & Defense
- Automotive
- Consumer Electronics
- Industrial
- Medical
- Telecommunications
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By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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