Next Generation Memory Market Size, Key Vendors, Growth Rate, Drivers, Volume and Opportunities by 2023

Rising demand for faster, cost effective and efficient memory solutions have raised the need for next generation memory in recent times. The demand of advanced memory technologies have been rising with the increasing electronic gadget market and rising data storage requirement. The expanding market for tablets and smart phones is boosting mobile dynamic random access memory (RAM) market, owing to which the demand for next generation memory is also increasing. The incompatibility and poor performance of the traditional non-volatile memory solutions are further propelling the market of next generation memory such as MRAM, memristor, FeRAM and others.

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Based on technology, the next generation memory market can be broadly classified into volatile memory and non-volatile memory. Memories which perform both volatile and non-volatile functions are known as universal memory. Volatile memory, also known as flash memory, stores data for temporary period and loses the data it when the computer is powered off. Most volatile memories unit has faster read-out capability than that of non-volatile memory. However, it has much smaller data storage volume than non-volatile memory.

The next generation memory finds application in smart cards, automotive electronics, mass storage, consumer electronics, mobile phones and others. Based on interface, next generation memory market can be categorized into SAS, SATA, PCIe, DDR and I2C. Owing to the characteristics, such as high data rates with lower power dissipation levels, of next generation memory, their importance in electronics and semiconductor industry is increasing. With respect to technology, high scalability and lower power consumption acts as major drivers for the next generation memory market.

The emergence of application sectors, such as neural network, industrial applications, and flexible electronics, lays significant opportunities for next generation memory market. Whereas, the major restraints for the next generation memory market include low write endurance rate, less storage densities, low stability in extreme environmental conditions, and high designing cost. In terms of density and scalability of NAND gate, the next generation memories are inefficient. However, their chip density is expected to improve in the long term due to ongoing research and development activities in this field.

North America dominates the next generation memory market; however, Asia-Pacific is witnessing strong growth owing to rising demand from countries such as Japan, China and South Korea.

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Some of the major companies operating in next generation memory market include, Fujitsu Ltd., SanDisk Corporation, Samsung Electronics Co., Ltd., The International Business Machines Corporation (IBM), SK Hynix Inc., Adesto Technologies Corporation, Inc., Micron Technology, Inc., Toshiba Corporation, Cypress Semiconductor Corporation, Winbond Electronics Corporation, Crossbar Inc., Avalanche Technology Inc., and Micron Technology Inc.

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