Memory Devices Market

According to Stratistics MRC, the Global Memory Devices Market is accounted for $170.51 billion in 2023 and is expected to reach $508.71 billion by 2030 growing at a CAGR of 16.9% during the forecast period. Memory devices, such as computer memory, are digital electronic semiconductor devices used for digital data storage. Data is often stored in metal-oxide-semiconductor (MOS) memory cells on a silicon integrated circuit memory chip in such devices. Silicon, which is often mined from sand, is the starting point for these integrated circuits. Engineers, metallurgists, chemists, and physicists are all involved in the process of converting silicon into memory chips. Memory is manufactured in a massive facility known as a fab, which incorporates several clean room conditions. Even when there is no electricity, they do not lose or delete data or information. They can store large quantities of data and information while consuming very little power.

According to the US Department of Energy, there are about 3 million data centers in the United States.

Market Dynamics:

Driver:

Raising adoption of Internet of Things

The majority of emerging economies are focusing on digital awareness and digitalization. Many countries are actively implementing Internet of Things (IoT) technology on a big scale as part of the agenda. Smart and linked device systems are an important aspect of developing IoT projects since they encourage automation in everyday life. To store information and input and output data, the solutions require significant amounts of semiconductor memory. The worldwide market will be driven by the rapid adoption of these technologies in emerging economies.

Restraint:

High initial investments

Semiconductor memory devices are quickly gaining popularity. However, the initial investment necessary to establish any memory device manufacturing unit is too expensive. Wafers, MOSFETs, transistors, and cooling systems are among the more costly components used in these devices. This has a direct influence on the final product's selling price. Furthermore, the installation of manufacturing equipment for these memory devices takes time, which is impeding market growth.

Opportunity:

Rapid digitalization

The bulk of emerging economies are putting substantial effort into becoming digitally literate and digitizing their economies. Digitalization in memory device production enhances operational efficiency and enables automation. Rapid digitization and automation in the electronics sector, as well as the use of memory-based features in technologically sophisticated devices like as smartphones, wearables, and electronics, are driving market expansion.

Threat:

Shortage of raw material

Memory storage device and semiconductor makers rely largely on Chinese enterprises since the majority of the materials are sourced from China. The country was first devastated by the epidemic and put limitations on the local market, causing problems in the semiconductor supply chain. The pandemic effect has had a significant impact on the market, resulting in a scarcity of raw resources. This aspect is impeding market expansion.

Covid-19 Impact

The global COVID-19 epidemic greatly impacted the supply chain and manufacturing of market research in the first half of 2020. This had a detrimental influence on global economic activity. The increase in COVID-19 instances in various nations has had an impact on market growth. The installation of abrupt lockdown limitations has forced the shutdown of several manufacturing units. Furthermore, the raw material supply chain, such as silicon, has been interrupted in various nations. Furthermore, many government agencies and important businesses are developing policies and plans to address the COVID-19 impact, which will drive market growth throughout the projection period.

The static random access memory (SRAM) segment is expected to be the largest during the forecast period

The static random access memory (SRAM) segment is estimated to have a lucrative growth. SRAM operates at a considerably quicker rate than DRAM. SRAM consumes less power and is used to provide speed-sensitive caching. The contents of SRAM do not need to be refreshed. SRAMs are more radiation resistant than DRAM. The segment's growth is being fuelled by its low power consumption, cache memory, and efficiency.

The consumer electronics segment is expected to have the highest CAGR during the forecast period

The consumer electronics segment is anticipated to witness the fastest CAGR growth during the forecast period. A memory card is an electronic data storage device that commonly uses flash memory to store digital information. These are frequently seen in digital portable electronic gadgets. They enable additional memory to such devices by inserting a card into a socket rather than a protruding USB flash drive. The increased use of smart phones and digital cameras is driving the segment's rise.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing adoption of AI and the Internet of Things. Key corporations have also used a variety of business approaches, which has contributed to the area market's expansion. China is the country with the most revenue. China features some of the world's most modern manufacturing facilities. The Asian market is expected to grow considerably during the projected period due to the use of modern technologies in both personal computers and industries.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to rapidly changing technologies. High data creation across businesses is generating a demand in the country for more efficient processing solutions. With the introduction of mobile and low-power devices, as well as high-end data centers and massive on-chip caches, a new high-priority requirement emerged: non-volatile, dense, and low-energy-consuming memories. The United States has recovered its competitiveness in memory semiconductor manufacturing technologies, particularly in DRAM and 3D-NAND. The growing demand for data centers is driving up demand for memory components in the region.

Key players in the market

Some of the key players profiled in the Memory Devices Market include IBM Corporation, Intel Corporation, Samsung Electronics Co. Ltd, Cypress Semiconductor Corporation, Micron Technology Inc., Kioxia Corporation, SK Hynix Inc., Nvidia Corporation, ROHM Co. Ltd., Maxim Integrated Products Inc., STMicroelectronics NV, Fujitsu, Broadcom Inc., Toshiba Corporation, Macronix International Co Limited, Taiwan Semiconductor, Sony, LAM Research, Texas Instruments and Silicon Catalyst.

Key Developments:

In March 2022, Kioxia Corporation, a provider of memory solutions, announced it would start construction of an advanced new fabrication facility at its Kitakami Plant in Japan for the possible expansion of manufacturing of its proprietary 3D Flash memory BiCSFLASHTM. Construction of this facility is planned to commence in April 2022 and is expected to be completed in 2023.

In December 2021, Micron Technology announced plans for its new memory design center in Midtown Atlanta, the United States, expanding the company’s reach into the Southeast United States. Micron aims to establish strong partnerships with many institutions in the region including Georgia Tech, Emory University, Spelman College Morehouse College, and the University of Georgia.

In July 2021, Intel Corporation, a global supplier of advanced processing units and memory storage systems, has partnered with MediaTek, a supplier of processors for smartphones. Through this partnership, the two companies will be able to share a foundry for manufacturing semiconductors and memory storage devices.

In Aug 2019, Samsung announced its 6th generation V-NAND memory with 100 active layers using new circuit design technology. It features 10% lower latencies and consumes 15% lower amount of power when compared to Samsung's previous-generation V-NAND products. This V-NAND also features lower power consumption than its predecessors.

In July 2019, Fujitsu Semiconductor announced the release of the 8Mbit ReRAM MB85AS8MT, which is reportedly the world's largest density as a mass-produced This ReRAM product, suitable for wearable devices, was jointly developed with Panasonic Semiconductor Solutions Co. Limited.

Types Covered:
• Static Random Access Memory (SRAM)
• Magnetoresistive Random Access Memory (MRAM)
• Dynamic Random Access Memory (DRAM)
• Read Only Memory (ROM)
• Erasable Read Only Memory (EROM)
• Flash Read Only Memory (ROM)
• NOR Flash
• NAND Flash
• Other Types

Applications Covered:
• Personal Computer
• Consumer Products
• Data Centre
• Laptop
• Tablet
• Smartphone
• Other Applications

End Users Covered:
• Consumer Electronics
• Automotive
• Information Technology
• Aerospace
• Healthcare
• Manufacturing
• Energy & Utility
• Oil & Gas
• Telecommunication
• Defense
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances