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Semiconductor Memory Market - The Way Forward | Key Players are Microchip Technology, Cypress Semiconductor Corporation, Fujitsu Global, SK hynix, Intel, Micron Technology, NXP Semiconductors, Texas Instruments, Toshiba, Western Digital

Semiconductor Memory Market

Semiconductor Memory Market

The global semiconductor memory market is poised to witness a remarkable growth curve in the upcoming years owing to the rapid increase in the implementation of IoT technologies across prominent industry verticals. Technical innovations pose huge demands for components like storage, microcontrollers, sensors, as well as connectivity solutions. This has resulted in the evolution of storage capabilities for addressing the high requirements of products based on IoT. Incorporation of IoT technology into communications, automotive, consumer, industrial and more, has largely contributed to the increased sales of semiconductor companies. As the scope of innovations and technological advancement depicts an upsurge, the semiconductor memory market will exhibit a popularity incline of mammoth proportions in the years to come.

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A sharp increase in the establishment of data centers around the world, owing to the high storage requirements in numerous application industries like the growing IT & telecom sector, is also resulting in higher demand for storage devices. Several North American and European countries are witnessing higher adoption of colocation data and hyperscale data centers due to an increase in the requirement for mega facilities for access, management as well as storage of massive business data. The humongous rate at which data centers are being launched globally will prompt the demand for a massive amount of storage requirements, which will propel the semiconductor memory market growth.

The key players covered in semiconductor memory market: -
1. Microchip Technology Inc.
2. Crocus Technology
3. Cypress Semiconductor Corporation
4. Everspin Technologies
5. Fujitsu Global
6. GLOBALFOUNDRIES
7. SK hynix
8. Intel Corporation
9. Micron Technology
10. NXP Semiconductors
11. Renesas Electronics
12. Samsung Electronics
13. SMIC
14. TSMC
15. Texas Instruments
16. Toshiba
17. Western Digital

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The rapid growth in the automotive manufacturing sector in Europe is playing significant role in the growth of the semiconductor memory market. The automotive electronics manufacturers in Europe are the major customers of the semiconductor memory as they are deployed in the ADAS, lighting, and braking systems. These solutions provide a high efficiency to automobile systems due to the increased memory processing and connectivity features. European automotive industry players are benefited by the application-specific products offered memory manufacturers. For instance, Samsung develops reliable memory solutions for automotive applications, which include DRAM and Flash memory products.

Some of the key players in the semiconductor memory market include Samsung Electronics, Nvidia, On Semiconductor, Micron Technology, Inc., etc. Manufacturers are focused on product development by investing in R&D activities & engineering capabilities to cater to the needs of mobile industry customers. To stabilize the component pricing, companies are reportedly developing strategies to maintain the average prices of ROM and RAM products. Manufacturers in the semiconductor memory market are also likely to face challenges in the future owing to the emergence of replacements such as MRAM, ReRAM and phase change memory.

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As semiconductor memory technology rapidly evolves to meet the ever-growing needs of the electronics industry, it is likely to experience high demand from end-use industries including electronics and automotive. Increased demand and the rapid evolution of smartphones and PCs across the globe will continue to impact the product requirement, on the grounds of which manufacturers will constantly seek ways to expand their production facilities and know-how. This could considerably impact the remuneration portfolio of the overall semiconductor memory market, slated to cross a mammoth USD 730 billion by 2024.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Corporate Sales, USA
Global Market Insights, Inc.
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