Luton, Bedfordshire, United Kingdom, Sept. 02, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Semiconductor Memory Market.
Semiconductor Memory Market is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 7.65% by 2029
Electronics heavily rely on semiconductor memory, which is a crucial component. It is a particular class of semiconductor device used for digital data storage. Any piece of equipment that has a microprocessor or microcontroller of some sort can incorporate semiconductor memory.
A digital semi-conductor electronic system called semiconductor memory is used to store digital data. A crucial part of today's electrical devices is semiconductor memory. The demand for high-capacity, low-power memory is rising quickly as the size reduction of today's smart portable electronics devices improves overall performance. The running time of the microprocessor should be consistent with the access time of the data stored in primary memory. Therefore, semiconductor devices are recommended for use as main memory. In the assembly of electronics, which makes use of computer processing technologies, semiconductor memory is widely used. It is one of the most crucial electronic parts required for every PCB construction that uses computers.
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Rise in RAM utilization in automotive applications creates new business opportunities
Leading players in the semiconductor memory Market should expect growth possibilities due to the increasing integration of electronic components and improved automotive systems. Growth of the semiconductor memory market is driven by modernization of infotainment vehicle design systems, autonomous driving systems, and safety systems. Vehicle systems benefit from high speed and connectivity thanks to the usage of DRAM and flash memory in lighting control and ADAS systems.
Semiconductor Memory Market Developments:
- In August 2019, Macronix International introduced ArmorFlash, a holistic solution to meet IoT data security concerns, setting the bar for flash memory security protection.
- In September 2019, Intel Corporation and Oracle collaborated to establish the world's first and only shared persistent memory system. At the same time, Intel debuted Barlow Pass, its second-generation memory modules, which will help data centers enhance bandwidth.
- Infineon Technologies announced in June 2020 that it has developed the first memory solution that combined security and functional safety in a single NOR flash device.
| Port Coverage | Details |
| Base Year: | 2020 |
| Market Size in 2020: | USD 115 Billion |
| Forecast Period: | 2022 to 2029 |
| Forecast Period 2021 to 2027 CAGR: | 7.65% |
| Historical Data for: | 2017 to 2020 |
| Segments covered: | Product, Application, and Region |
| Growth Drivers: | Rising adoption of semiconductor memory in data centers Growing demand for semiconductor memory in advanced automotive applications Rising penetration of 5G and IoT devices Growing memory requirements in gaming & entertainment applications Increasing demand from consumer electronics products |
| Pitfalls & Challenges: | High production costs Fluctuations in the raw material supply |
Semiconductor Memory Market Key Players
Microchip Technology, Inc., Crocus Technology, Cypress Semiconductor Corporation, Everspin Technologies, Inc., Fujitsu Limited, GlobalFoundries, SK Hynix, Inc., Intel Corporation, Micron Technology, Inc., and NXP Semiconductors
Semiconductor Memory Market Segmentation
Semiconductor Memory Market by Type, 2020-2029
- Static Random-Access Memory (SRAM)
- Magneto- Resistive Random-Access Memory (MRAM)
- Dynamic Random-Access Memory (DRAM)
- Flash Memory (ROM)
Semiconductor Memory Market by Industry Vertical, 2020-2029
- Defence
- Automotive
- Consumer Electronics
- Healthcare
- Telecommunications
- Others
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Growing establishment of data centres in APAC region will spur the market revenue
The Asia Pacific Semiconductor Memory Market, which accounted for over 50% of global revenue share in 2020, is projected to grow at a CAGR of 7% by 2027 due to the region's growing number of hyper-scale and cloud data centres in countries like China, India, Singapore, Indonesia, and South Korea. For instance, Alibaba Cloud launched three hyper-scale data centres in China in August 2020 and has plans to build ten more in the upcoming years.
Top impacting factors
The need for memory devices with semiconductors will increase as more data centres are built around the world due to the increased storage needs of various industries. The introduction of colocation data centres and hyperscale data in developed countries is increasing demand for Semiconductor Memory Market due to the rise in connection, administration, and storage needs for huge business data from mega facilities. This helps the industry's expansion and further enables major players to enhance their facilities. This Semiconductor Memory Market is anticipated to experience growth because to the increasing saturation of cell phones, technical advancements, and the adoption and popularity of smart devices.
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