New York, March 01, 2023 (GLOBE NEWSWIRE) -- By 2023, size of the global Memory Market would be US$ 240.7 billion. It would experience consistent growth and top US$ 480.0 billion in 2033.
A CAGR of 7.1% would be visible from 2023 to 2033. From 2018 to 2022, memory sales increased significantly. The market witnessed growth at a CAGR of 11.0% from 2018 to 2022.
Smartphones, flat-screen displays, and LED televisions are just a few examples of electronic devices. These primarily rely on semiconductor memory products. Systems for the military and aerospace rely on these products as well.
For the memory industry, biometric technology advancement would be beneficial. The market under investigation is expanding significantly. Increasing popularity of cellphones and other high-tech products, including wearable technology, is blamed for it.
Potential of memory has expanded with new memory technologies. It makes it possible to store enormous volumes of data for a relatively low price.
They do not rely on pricy silicon chips that are complex to manufacture. Consumer electronics devices such as laptops, smartphones, and digital cameras are frequently found using such pricey processors.
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Globally, the market is flourishing quickly. Currently, the foundational elements of modern technology are semiconductors. Market improvements and innovations have a direct impact on all downstream technologies.
Modern semiconductor memory chips allow for remote communication between devices. Every internet of things and industrial internet of things device has these.
The market will benefit greatly from continued innovation and development across multiple industries. They include data centers, telecommunications, and the automotive industry.
Key Takeaways from Memory Market
- The USA memory market size would reach US$ 144.5 billion by 2033.
- North America would lead the memory market and reach US$ 185.2 billion by 2033.
- By application, the consumer products segment would witness 6.9% CAGR from 2023 to 2033.
- The dynamic random access memory segment by type would exhibit 7.0% CAGR by 2033.
- Japan memory market would exceed US$ 35.0 billion by 2033.
“Processing and storing a sizable volume of data is required for data-centric businesses. To meet this demand, Microsoft, Google, and Meta all have data centers located across the world. Growing need for hyper-scale data storage capabilities would increase memory demand globally.” – Says a lead analyst.
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Competitive Landscape: Memory Market
- Samsung Electronics Co. Ltd
- Micron Technology Inc.
- SK Hynix Inc.
- ROHM Co. Ltd.
- STMicroelectronics NV
- KIOXIA Corporation
- Fujitsu Ltd.
- Kingston Technology Co. Inc.
- Integrated Silicon Solution Inc.
- Etron Technology Inc.
Renowned vendors in the market for next-generation memory are concentrating on new product introductions. The market is highly competitive. Memory is being supplied by several businesses to both domestic and foreign markets.
Strategic mergers, joint ventures, and collaborations between key entities are occurring. A few other businesses are concentrating on acquisitions to increase their market share.
For instance,
- In September 2022, ROHM Co Ltd entered into a partnership agreement with Nanjing Semidrive Technology Ltd. The latter is an automotive grade chip supplier. The collaboration would help to accelerate work on vehicle cockpits. The system on chips has low power consumption features. They also have high-speed response functions.
- In October 2021, Micron Technology Inc. closed a deal of the fabrication facility based in Lehi to Texas Instruments. The latter is a technology company. Micron has planned to manufacture new memory solutions for data centers.
Get More Valuable Insights into Memory Market
Persistence Market Research, in its new offering, provides an unbiased analysis of the memory market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
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The study incorporates compelling insights on the memory market based
- on type (dynamic random access memory, static random access memory, NOR flash, NAND flash, read-only memory, electrically erasable programmable read-only memory),
- Application (consumer products, personal computers/laptops, smartphones/tablets, data center, automotive),
- Region( North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
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