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Global Non-Volatile Memory Market Share To worth USD 124.1 billion by 2027 | CAGR of 10.7%

10-11-2023 11:27 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Global Non-Volatile Memory Market Share To worth USD 124.1

The non-volatile memory market is projected to grow from USD 74.6 billion in 2022 to USD 124.1 billion by 2027; it is expected to grow at a CAGR of 10.7% from 2022 to 2027. The key factors fueling the growth of the non-volatile memory market include the high adoption of smart devices and wearables and a notable shift towards SSDs from HDDs.

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The key players operating in the non-volatile memory market are SAMSUNG (South Korea), Western Digital Technologies, Inc. (US), KIOXIA Holdings Corporation (Japan), Micron Technology, Inc. (US), and SK HYNIX INC. (South Korea) among others. The other companies profiled in the report are Microchip Technology Inc. (US), ROHM CO., LTD. (Japan), Renesas Electronics Corporation (Japan), STMicroelectronics (US), Infineon Technologies AG (Germany), Nantero, Inc. (US), Crossbar Inc. (US), Everspin Technologies Inc. (US), Winbond (Taiwan), and Pure Storage, Inc. (US) among others.

Non-Volatile Memory Market Dynamics

Driver: Surging demand for smartphones and smart wearables

Smart technologies and consumer electronics are key end users of non-volatile memory. High-capacity memory solutions with a high data transfer rate are used in various connected devices, wearable devices, and other portable devices to store data. Flash memory provides a high-speed serial interface and optimized protocol that significantly improves throughput and overall system performance. It is designed with a high-performance interface for applications where power consumption needs to be reduced, such as mobile devices. These characteristics support the design of a new generation of devices that operate swiftly and have longer battery life, whether the user is taking photos, recording video, asking for directions, communicating with friends and coworkers, or simply accessing data from internal storage.

Restraint: Decline in the growth of the semiconductor industry

The semiconductor industry is cyclic in nature and always faces highs and lows in intervals. In September 2022, the Semiconductor Sector Association (SIA) reported that sales for the semiconductor industry worldwide in July 2022 totaled USD 49.0 billion, an increase of 7.3% over the USD 45.7 billion total from July 2021 but a reduction of 2.3% from the USD 50.2 billion total from June 2022. The decreased demand for laptops, Chromebooks, TVs, and smartphones and the growth in client inventory levels were caused by the persistently low consumer demand. Strong enterprise SSD spending has continued, counteracting weak consumer demand. Even while average smartphone capacity is still increasing, the drop in shipments has negated demand for mobile NAND Flash due to the low consumer demand.

Opportunity: Advent of innovative technologies for IoT applications

The increasing replacement of traditional memories with emerging non-volatile memories offers a significant opportunity for market players. Traditional memory technologies, such as DRAM and flash, have captured a major share of the memory technology market. The Non-Volatile Memory Industry is currently experiencing a significant shift as emerging technologies are increasingly replacing traditional memories like DRAM and flash. Traditional flash memories have limitations, such as slow switching rate, high latency, and low scalability. They face limitations of scalability below 90 nm while using floating gate technology and consume more power than other emerging memory technologies. Currently, flash memories are being used in smartphones, tablets, and PDAs. The major alternatives to flash memories are 3D NAND, ReRAM, NRAM, and MRAM, which are superior to flash memories in terms of latency, switching time, endurance, write cycle, and data retention.

Challenge: Optimization of storage densities and capacities

Memory storage density stores the information bits on a computer storage medium. Higher-density memory is more in demand as it allows greater volumes of data to be stored in the same physical space. Thus, storage density directly correlates with a given medium's storage capacity. Storage density also has a fairly direct effect on performance and price.

High-density memories such as RRAM, NAND flash, and NVDIMM face numerous challenges related to poor scalability. Scalability refers to the ability of a product to function well even when there is a change in its size and capacity. These memories cannot adhere to the required endurance, noise margin, and reliability levels.

SAMSUNG is one of the world's largest IT companies. The company, along with its subsidiaries, operates through the following business divisions: Consumer Electronics (CE), Information Technology & Mobile Communications (IM), Device Solution (DS), and Harman. The CE division offers monitors, TVs, printers, refrigerators, and air conditioners. The IM division provides communication systems, cell phones, and computers. The Device Solution segment specializes in offering DRAM, NAND flash, mobile APs, and OLED panels for smartphones. The Harman segment provides digital cockpits, telematics, speakers, and others.

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North America leads in memory chip manufacturing owing to the presence of many DRAM and NAND manufacturers in the region. It also has many wafer fabrication facilities. North America is expected to continue to hold the second position in the non-volatile memory as it has a huge consumer base of electronics and next-generation data storage.

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