Memory Chip Market Revenue to Hit US$321 Bn in 2030 at 7.5% CAGR, Forecasts Fairfield Market Research
Fairfield Market Research's Latest Report Indicates Unprecedented Evolution of the Memory Chip Landscape with Rapid Increase in Mobile Devices and Data Usage and Increasing Use of Memory-Based Components. North America, and Asia Pacific Emerge as the Leading Regional Players.
London, March 20, 2024 (GLOBE NEWSWIRE) -- Global *memory chip market* is exhibiting significant growth, estimated to value at *US$321 Bn in 2030*. This prominent growth is estimated at a *CAGR of 7.5%* from the years *2023 to 2030*. Memory chips are essential components that enable the functioning of these devices by storing and accessing data quickly and efficiently. The memory chip market encompasses a wide range of semiconductor devices used for data storage and retrieval in various electronic devices, including smartphones, computers, servers, automotive electronics, consumer electronics, and industrial applications.
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*REPORT SCOPE*
Report Attributes Details
Base Year 2023
Forecast Year 2023 – 2030
Market Size in 2023 US$193.5 Bn
Estimated Market Size in 2030 US$321 Bn
CAGR 7.5%
Growth Drivers · Growing Demand for Electronic Devices
· Rapid Growth of Data Centers
· Emergence of 5G Technology
Segmentation · By Type
Volatile (DRAM, SRAM)
Non-volatile (PROM, EEPROM, NAND Flash, Others)
· By Application (Laptop/PC, Camera, Smartphone, Others)
Regional Coverage · North America (US, Canada)
· Europe (Germany, UK, France, Italy, Turkey, Russia, Rest of Europe)
· Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia Pacific)
· Latin America (Brazil, Mexico, Rest of Latin America)
· Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)
The increasing adoption of smartphones, tablets, laptops, IoT devices, and other electronic devices is driving the demand for memory chips. Manufacturers are developing next-generation NAND flash technologies such as 3D NAND and QLC (Quad-Level Cell) NAND to increase storage capacities and reduce costs per bit.
“*Non-volatile memory chips have proven essential for maintaining data integrity during power outages and improving car performance. Despite physical space limitations, high-density memory chips enable connected and autonomous vehicles to manage massive volumes of data efficiently*,” says the analyst.
There is a trend toward higher-density memory chips to accommodate the increasing storage requirements of modern applications and services. With the proliferation of battery-powered devices and IoT applications, there is a growing emphasis on developing low-power memory solutions to extend battery life and reduce energy consumption.
The need for memory-intensive applications and the development of new technologies fuel the memory chip market's global expansion. The advancement of memory chip technology has resulted in a notable revolution in the automotive sector.
*For More Industry Insights Read: **https://www.fairfieldmarketresearch.com/report/memory-chip-market*
*Key Research Insights *
· The smartphone segment is anticipated to dominate the market based on application type.
· The Asia-Pacific region is anticipated to account for the largest share of the global memory chip market.
· The DRAM category dominated the industry in 2023.
· The market for memory chips is expanding in North America.
*Insights into Segmentation Analysis*
*Smartphone Surges Ahead, Laptop/PC Gears up for Substantial Growth*
· the smartphone category dominated the industry in 2022. With their large consumption of DRAM and NAND flash memory chips, smartphones are one of the main drivers of the memory chip business.
· The capacity of a device to multitask and execute many applications at once is provided by DRAM chips.
· At the same time, NAND flash memory stores data such as apps, movies, and images. More memory is required because smartphones with sophisticated cameras, potent processors, and high-resolution screens are becoming increasingly popular.
· The laptop/PC category is anticipated to grow substantially throughout the projected period. Laptops mostly use memory chips, specifically NAND flash, for long-term storage, and dynamic random access memory (DRAM) for short-term data storage.
· The cost, performance, and availability of memory chips greatly impact laptops' features, production costs, and overall performance.
*DRAM Category Maintains Dominance over Other Segments*
· The DRAM segment dominated the market in 2023. The market for memory chips is dominated by dynamic random access memory (DRAM), which is essential to modern computing. DRAM offers quick, volatile storage that is essential for several uses.
· Scaling down to and beyond the 10 nm process presents issues for DRAM makers as technology develops and demands increased performance and memory density rise. The main challenge is reducing cell capacitance without sacrificing memory density or data retention.
· The NAND flash category is projected to experience the notable market growth. Leading players in the memory chip industry are concentrating on cutting-edge technologies like NAND flash technology to serve their current customer base better.
· An example of a memory chip is NAND flash technology. Compared to standard NAND flash memory, this non-volatile memory technology offers higher storage density and improved performance.
*Key Report Highlights*
· The need for memory-intensive applications and the development of new technologies fuel the memory chip market's global expansion.
· The integration of advanced driver-assistance systems (ADAS), and infotainment systems, driving technologies in vehicles is increasing the demand for memory chips.
· There is a growing emphasis on developing low-power memory solutions to extend battery life and reduce energy consumption.
*Insights into Regional Analysis*
*The US Data Centre Industry Boosts North America’s Market for Memory Chips*
· US corporations have fully embraced extreme ultraviolet (EUV) technology in recent years and the country has regained its competitiveness in memory chip manufacturing technology, particularly in DRAM and 3D-NAND.
· The US Department of Energy estimates that the country has roughly 3 million data centres. The modern computer unit is the data centre.
· The key components of safe, contemporary accelerated data centres are DPUs (Data Processing Units), which allow GPUs, CPUs, and DPUs to merge into a single, completely programmable computing unit.
· According to Nvidia, data centres' primary processor cores might be depleted by up to 30% due to data management. Memory component demand is rising with the growing need for data centres.
*China, Taiwan, and South Korea Spearhead the Global Primacy of Asia Pacific*
· Asia Pacific holds the greatest proportion of the memory chip market, with its major electronics manufacturing hubs in China, South Korea, and Taiwan.
· The Nations are the leading manufacturers of computers, smartphones, and other electronic gadgets, which at the same time is fueling the region's high need for memory chips.
· India becomes a key hub for electronics production worldwide, with Invest India projecting that the sector will generate US$ 300 billion by 2025 and 2026. Government programs like the Production Linked Incentive Programme, which supports local electronics manufacturing, are the main drivers of the rise.
*Key Companies in the Global Memory Chip Market*
· Toshiba Corporation
· Intel Corporation
· Taiwan Semiconductor Manufacturing Company Ltd
· Kingston Technology Corporation
· Fujitsu Limited
· ADAT Technology Co Ltd.
· Transcend Information Inc.
· Sony Corporation
· Samsung Electronics Co Ltd.
*Global Memory Chip Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Type Coverage, By Application Coverage, By Geographic Coverage and By Company): **https://www.fairfieldmarketresearch.com/report/memory-chip-market*
*About Us*
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