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Dynamic Random Access Memory (DRAM) Market Growth and Forecast 2024
Dynamic Random Access Memory (DRAM) Market Growth
According to The Business Research Company's, The dynamic random access memory market size has grown rapidly in recent years. It will grow from $68.82 billion in 2023 to $76.73 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to the growing adoption of generative ai boosts, rising technological requirements like data center construction, the growth of smart cities, growing manufacturing of smartphones, growth in data centers.
The dynamic random access memory market size is expected to see rapid growth in the next few years. It will grow to $120.53 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to increased investment in smart infrastructure, mounting demand for educational and gaming notebooks, demand for hyper scale data centres, rising trend of working from home, and rise of iot devices. Major trends in the forecast period include transition to DDR5 standard, advanced manufacturing processes, technological advancement, advanced packaging technologies, and integration of AI-driven memory management.
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Market Drivers and Trends:
The increasing demand for digital electronics is expected to propel the growth of the dynamic random access memory market going forward. Digital electronics refers to a field of electronics that involves the study of digital signals and the engineering of devices that use or produce them. The demand for digital electronics is increasing due to advancements in cloud computing, technological advancements, and high-speed connectivity. Dynamic random access memory improves the overall performance of digital systems by providing faster access to data than storage mediums, including hard disk drives in digital electronics. For instance, in May 2022, according to a report published by the Japan Electronics and Information Technology Industries Association, a Japan-based trade organization for the electronics and IT industries, the production of electrical devices and components in 2022 reached $29333.19 million, up from $5174.54 million in 2021. Therefore, the increasing demand for digital electronics is driving the growth of the dynamic random access memory market.
Major companies operating in dynamic random access memory markets are developing innovative technology, such as the Graphics DRAM chip, to boost graphics processing in gaming and visualization. A graphics DRAM chip is a memory designed explicitly for storing graphical data, such as images, videos, and 3D models, in a computer's graphics processing unit (GPU). For instance, in August 2022, Samsung Electronics Co. Ltd., a Korea-based consumer electronics company, launched a DRAM chip, the GDDR6, boasting impressive speed and power efficiency. This new processor can analyze visual pictures at a phenomenal speed of up to 1.1 terabytes per second, equivalent to processing 275 full HD movies in only one second. Its data processing performance is over 30% quicker than its competitors. The GDDR6 chip is anticipated to be widely used in many applications, including high-resolution 3D games, personal computers, laptops, and high-performance computing systems. It is meant to improve graphics performance and lengthen battery life significantly.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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Major Key Players of the Market:
Samsung Electronics Co Ltd., Intel Corporation, SK Hynix Inc., Fujitsu Limited, Micron Technology Inc., Advanced Micro Devices Inc. (AMD), Texas Instruments Incorporated (TI), Infineon Technologies AG, Delta Electronics Inc., Kingston Technology Company Inc., ON Semiconductor Corporation, Powerchip Semiconductor Manufacturing Corp., Nanya Technology Corporation, ChipMOS Technologies Inc., Elite Semiconductor Microelectronics Technology Inc., Integrated Silicon Solution Inc. (ISSI), Apacer Technology Inc., Transcend Information Inc., EverSpin Technologies, ATP Electronics Inc., Viking Technology, GSI Technology Inc., Centon Electronics Inc., Etron Technology Inc., Elpida Memory Inc., Winbond Electronics Corporation, ProMOS Technologies Inc., Alliance Memory Inc.
Dynamic Random Access Memory Market 2024 Key Insights:
• The dynamic random access memory market size is expected to see rapid growth in the next few years. It will grow to $120.53 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%.
• Impact Of Increasing Demand For Digital Electronics On The Dynamic Random Access Memory Market
• Unveiling The Era Of Graphics DRAM
• Asia-Pacific was the largest region in the dynamic random access memory market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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