Chicago, Aug. 11, 2024 (GLOBE NEWSWIRE) -- The next-generation memory market size was valued at USD 6.2 billion in 2023 and is estimated to reach USD 17.7 billion by 2028, registering a CAGR of 23.2% during the forecast period.
The growth of the next-generation memory market is driven by increasing demand for memory devices that provide fast access and consume minimal power, rising adoption of next-generation memory technologies for enterprise storage applications, and soring adoption of next-generation memories in smartphones and smart wearables.
To know about the assumptions considered for the study
Major Next-Generation Memory Companies Included:
- SAMSUNG (South Korea),
- KIOXIA Holdings Corporation (Japan),
- Micron Technology, Inc. (US),
- Fujitsu (Japan),
- SK Hynix Inc (South Korea),
- Honeywell International, Inc. (US),
- Winbond (Taiwan),
- Microchip Technology Inc. (US),
- Nanya Technology (Taiwan), and
- Everspin Technologies (US).
Apart from this, Macronix International Co., Ltd. (Macronix), Kingston Technology (US), Infineon Technologies AG (Germany), ROHM CO., LTD. (Japan), Nantero, Inc. (US), Crossbar Inc. (US), Viking Technology (US), Avalanche Technology (US).
Next-Generation Memory Market Analysis
The next-generation memory market is set to experience significant growth due to its potential to revolutionize data storage and processing. next-generation memory, known for their ability to retain information without power, offer high-speed, low-power, and non-volatile memory solutions. The market's expansion is driven by the increasing demand for advanced memory technologies in various applications, including data centers, consumer electronics, and automotive sectors.
Next-Generation Memory Market Trends
The next-generation memory market is experiencing significant trends driven by technological advancements and evolving demands. There is an increased adoption of high-speed, reliable memory solutions in AI and IoT applications, leveraging technologies like MRAM and ReRAM. Integration with emerging technologies such as neuromorphic and quantum computing is enhancing computational capabilities. A shift towards non-volatile memory technologies like PCRAM and STT-MRAM addresses the need for efficient data retention. Emphasis on energy efficiency and collaborative innovations among tech companies and research institutions are accelerating market growth. Expanding applications in automotive, healthcare, and industrial automation further drive the market’s dynamic evolution.
Next-Generation Memory Market Segmentation:
Non-volatile memory segment to hold larger market share during the forecast period.
The non-volatile memory segment held a larger share of the market in 2022 and is expected to retain its dominant position throughout the forecast period. This can be attributed to the rising demand for faster, more effective, and cost-efficient memory solutions. Emerging memory technologies also overcome the limitations of traditional non-volatile memory devices pertaining to scalability, endurance, and other parameters. A huge amount of data is generated globally daily, creating the need for more effective storage solutions with large storage capacity. Non-volatile memory, such as ReRAM and STT-MRAM PCM, offers speed and performance comparable to volatile memory technologies such as DRAM and SRAM, along with higher storage densities. Additionally, the increasing demand for wearable electronics, high-performance computing, and replacement of Flash memory storage is also fueling the demand for emerging non-volatile memory technologies.
Volatile Memory Technologies Drive Next-Generation Memory Market Growth During Forecast Period
The next-generation memory market is experiencing rapid growth, fueled by the increasing demand for advanced memory technologies that offer faster access, lower power consumption, and higher storage capacities. Volatile memory technologies such as Hybrid Memory Cube (HMC) and High-bandwidth Memory (HBM) are driving this growth, as they provide high-speed data access and processing capabilities essential for applications such as artificial intelligence, machine learning, and edge computing. With the volatile memory segment expected to witness significant growth during the forecast period, driven by the increasing demand for high-performance memory solutions and the growing adoption of these applications, it is crucial for memory manufacturers to invest in research and development to improve the performance and efficiency of volatile memory technologies.
Enterprise storage segment account for the largest share of the next-generation memory market for during the forecast period
In 2022, the enterprise storage segment held the largest share of the market. The increasing need for data storage in data centers is creating demand for NGM technologies. In recent years, cloud storage has grown with the increasing use of cloud platforms containing some public as well as private data. To store such huge amounts of data, emerging memory technologies are mostly used. Data centers are considering the implementation of emerging memory technologies to keep pace with constant data growth and user productivity. Emerging memory technologies help improve performance and reduce the total cost of ownership (TCO).
300 mm wafer size segment to exhibit highest growth in terms of next-generation memory market during the forecast period
The 300 mm wafer size segment is expected to account for the highest growth of the market. Currently, the market share of 300 mm wafer size is greater than that of the 200 mm wafer size. This is because 300 mm wafers can hold twice as many dies per wafer as 200 mm wafers, resulting in a 2-4% lower IC cost per cm per year. Key players such as Micron Technology, Inc, SAMSUNG, and SK Hynix, Inc. are currently designing most of the memory technologies on 300 mm wafers.
Next-generation memory market in Asia Pacific estimated to grow at the fastest rate during the forecast period
The next-generation memory market, in Asia Pacific is expected to grow at high CAGR during the forecast period. The market growth is propelled by burgeoning consumer demand, dynamic technological landscape, and robust manufacturing ecosystem. With the presence of major economies such as China, Japan, South Korea, and India which are rapidly advancing their semiconductor capabilities the region is poised to leverage its extensive expertise and resources to lead the development and adoption of next-generation memory solutions.
