Global Semiconductor Memory Market Worth Around USD 735 Billion by 2026: Acumen Research and Consulting
The global semiconductor memory market is anticipated to grow US$ 735 billion at considerable CAGR around 29.0% over the forecast period.
According to the report, the global market will continue to be influenced by a range of macroeconomic and regulatory factors. Proliferation of Smartphone, ongoing technological advancements, digital evolution in electronic industry and increasing utilization of semiconductor components in various industries across the globe have boosted the growth of the global Semiconductor Memory Market. The market in the Asia Pacific is likely to expand at highest CAGR due to numerous technological advancements, increased adoption and usage of handheld electronic devices and increasing government spending in the region.
Non-volatile Memory Solutions to Witness High Popularity in the Market
On the basis of type, the semiconductor memory market is bifurcated into volatile and non-volatile memories. The non-volatile memories include read-only memory (ROM), Erasable programmable read-only memory (EPROM), programmable read-only memory (PROM), electrically erasable programmable read-only memory (EEPROM) and Flash memory. The volatile memories include random access memory (RAM), Static random access memory (SRAM), dynamic random access memory (DRAM) and Synchronous dynamic random access memory (SDRAM). Non-volatile memory solutions segment is anticipated to dominate the market over the forecast period owing to the integration of proficient flash memory into various applications. The advancements in smartphones such as artificial intelligence (AI) and mobile computing requires high capacity storage in order to support the multifaceted operations. Furthermore, the consumption of 3D NAND Flash solutions is increasing due to the growing usage of SSD’s in various major applications such as data centers, computers among others. Rising requirement for high capacity storage in artificial intelligence, machine learning, and complex databases is offering numerous opportunities for non-volatile memory solutions.
Growing Demand for Consumer Electronics to Boost the Growth of the Consumer Electronics Segment
In terms of application, the semiconductor memory market is bifurcated into consumer electronics, automotive, industrial, medical, aerospace and defense, telecommunications and others. Consumer electronics segment is anticipated to lead the market by contributing the highest revenue share by 2026. This development is essentially ascribed to the growing demand for consumer electronics and implementation of advanced software in various consumer electronic devices. Moreover, rapid developments in devices and the integration of VR and AI capabilities with devices such as smartphones, tablets, etc. are expected to boost the demand for consumer electronics. Growing consumer awareness and technological advancements are propelling the segment growth.
Asia Pacific to Continue to Hold Largest Share in the Overall Market
Geographically, the global semiconductor memory market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific is anticipated to grow at fastest growth rate over the forecast period due to rapid developments in the consumer electronics industry. Moreover, growing number of semiconductor and component manufacturers in the region is helping the market to generate huge regional market revenue. Also, continuously growing technological advancements in handheld devices and growth in semiconductor industry are propelling the overall growth of the regional market. China is witnessing high growth for integrated products and memory solutions in order to address the constantly increasing requirements of electronics and automotive manufacturing operations. The high production of electronic devices such as laptops, tablets, smartphones and other components in China and Japan accounts for a high consumption of semiconductor memory solutions. On the other side, North America is forecasted to grow at considerable pace throughout the forecast period owing to the early adoption of advanced technologies and massive demand for memory solutions. Continuous development of autonomous vehicles and growing semiconductor industry are boosting the semiconductor memory market growth in North America. Europe is also focusing on offering various technologically advanced semiconductor memory solutions.
The NXP Semiconductors, Microchip Technology, Inc., Intel Corporation and Samsung Electronics Co., Ltd. are Likely to Continue to Lead the Global Semiconductor Memory Market
The semiconductor memory market is consolidated with limited number of manufacturers. The company profiling of key players in the market includes company overview, major business strategies and revenues. The key players of the market are NXP Semiconductors, Intel Corporation, Cypress Semiconductor Corporation, SK Hynix, Inc., Microchip Technology, Inc., Micron Technology, Inc., Samsung Electronics Co., Ltd. and Renesas Electronics Corporation. Technological advancements in the semiconductor industry and the integration of smart technologies are boosting the expansion of the latest components.
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