Samsung Electronics Co. Ltd, HK Hynix, Inc., Toshiba Memory Corporation, and Micron Technology, Inc. are key players in the $61.830 billion Non-Volatile memory market

The recent study on the non-volatile memory market covers an in-depth analysis of the market on the basis of voltage, end-user, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2024. According to the report titled “Non-Volatile Memory Market – Forecast from 2019 to 2024”, the market is expected to increase from US$61.830 billion in 2018 to US$64.887 billion by 2024, at a CAGR of 0.81% during the projected period.

The report has segmented the non-volatile memory market by type (Flash – NAND & NOR, SROM, EPROM, non-volatile SRAM, FRAM, others), by end-user (consumer electronics, automotive, telecommunication, military and aerospace, healthcare, others), and by geography such as Americas (United States, Canada, Brazil, others), Europe (Germany, France, United Kingdom, Italy, others), and Asia Pacific (China, Japan, India, Taiwan, others). The growing number of connected devices is leading to increasing demand for storage solutions which is significantly boosting the growth of the market. Furthermore, the rising number of investment in data centers is further providing an opportunity for the non-volatile memory product providers to generate higher revenues. Simultaneously, increasing storage densities in smartphones and laptops is further supplementing the market growth.

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Consumer Electronics holds a significant share in the market

The recent trend of shifting towards providing higher storage capacity by the tablet and laptops manufacturers to the consumers is leading to the growing demand for non-volatile memory. For instance, Lenovo Group Ltd. recently launched a new ThinkPad which features a 6TB of storage and 128GB RAM. However, the slow growth in the production of PC and recent reduction of NAND prices is estimated to impact the growth of the market in value terms.

Asia Pacific is dominating the market

More than 70% of the consumer electronic production happens in the Asia Pacific and the trend of companies shifting their manufacturing facilities from mature market to Asia is anticipated to continue during the course of the forecast period. Moreover, the investment in data centers is increasing rapidly in China, India, Vietnam, and the Philippines and thus is further creating a demand for non-volatile memory market in the region.

Some of the major players discussed in the reports are Samsung Electronics Co. Ltd, SK Hynix, Inc., Toshiba Memory Corporation, Western Digital Corporation, and Intel Corporation among others.

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