Global Next Generation Memory Market - Segmented by Technology (Volatile, Non Volatile), Applications (BFSI, Consumer Electronics, Government, Telecommunications, Information Technology), and Region - Growth, Trends, and Forecast (2018 - 2023)
Global Next Generation Memory market was valued at USD 2.28 billion in 2017, and is expected to reach a value of USD 8.86 billion by 2023 at a CAGR of 25.12%, during the forecast period (2018-2023). The scope of the report is limited to Technology type offered by major players, which involves Volatile and Non Volatile. While the applications considered in the scope of the report include BFSI, Consumer Electronics, Government, Telecommunications, and Information Technology.
Memory plays a vital role in achieving higher processing speeds and the advent of many latest technologies emphasizes the need for better processing speeds to cope up with the existing technology. The arrival of higher graphics systems further demands the need for better processing speeds owing to such trends there has been a high adoption rate for next generation memory. For much of the past decade GDDR5 has been the industrial standard. But, owing to the high power consumption of this card there has been a need for better technology to increase efficiency.
Increasing Demand For Enterprise Storage Applications
With the growing adoption for SSD memory storage technologies the need for better memory is becoming intertwined with it. The industry expectation rates vary at about 50% from 2017 to 2018 with many laptop manufacturers opting for such storage options. Quarterly shipments of the SSDs in notebooks have been found to increase from 25% to 26%. As the adoption rate grows the need for better memory technology is inevitable. Many memory modules have been combining the volatile memory with the nonvolatile memory modules. The data from the flash can be transferred and restored from the DRAM.
Information Technology is One of the Primary Areas for Employment of Next Generation Storage Technology
With the growing size of enterprises many of the companies have adopted the use of enterprise storage technologies, which demand the need for next generation storage to handle the computing power of the organizations. As the number of data centers increase the amount of storage and computing power required continues to increase and owing to such trends there is a need for better memory technologies to continue withstand the computational demands for such organizations. These latest memory devices also provide a better architecture compared to the existing used technologies. Technologies, such as MRAM are expected have better architecture which provides efficiency for the data centers.
North America has the Highest Market Share Owing to Presence of Many Players
The region has experienced many investments in the technology. The region also has a high adoption rate for various technologies, such as RAM, DRAM, and PCM memory. This growth can be attributed to increasing mobile phones and laptops among other computing device in the region. Many trends, such as BYOD in the region could also be a potential market for the company. The number of laptops within the price range of USD 500 has increased. This has increased the number of substitutes available for the population driving growth of these devices.
Key Developments In The Market