Semiconductor Memory Market Size, By Type (RAM [SRAM, SDRAM, MRAM, DRAM], ROM [EEPROM, EPROM, Flash Memory, PROM]), By Application (Aerospace & Defense, Automotive, Consumer Electronics, Industrial, Medical, Telecommunications), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Benelux, Russia, China, India, Japan, South Korea, Taiwan Brazil, Mexico, Argentina, South Africa, GCC), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2018 - 2024
Semiconductor Memory Market is anticipated to exceed USD 730 billion by 2024. Factors such as increasing number of data centers, growing memory requirements in gaming and entertainment applications, evolution of autonomous driving cars, and the industrial revolution 4.0 are driving the semiconductor memory market.
The semiconductor memory market is highly competitive owing to the presence of leading manufacturers including Samsung Electronics, SK Hynix, Micron Technology, Inc., etc. These companies pose a high competition for new entrants and the existing players due to the established identity and market leadership for several years. The players integrate innovations with new memory solutions and technologies to address the semiconductor memory market demand. Some of the companies have the advantage of vertical integration as they manufacture components, memory solutions, semiconductor devices, and electronic products under the same brand.
The rapid growth in the automotive manufacturing sector in Europe is playing significant role in the growth of the semiconductor memory market. The automotive electronics manufacturers in Europe are the major customers of the semiconductor memory as they are deployed in the ADAS, lighting, and braking systems. These solutions provide a high efficiency to automobile systems due to the increased memory processing and connectivity features. European automotive industry players are benefited by the application-specific products offered memory manufacturers. For instance, Samsung develops reliable memory solutions for automotive applications, which include DRAM and Flash memory products.
European companies are investing highly in R&D activities to undergo new product innovations, which will accelerate the semiconductor memory production in the region. The automotive manufacturers in Europe mainly import products from Asian memory providers due to low prices and high quality. Moreover, the semiconductor memory market in the region is expected to witness growth prospects owing to the automotive production, electronics manufacturing activities, and the establishment of several colocation & hyperscale data center infrastructures.
Companies are investing enormously in NAND memory solutions to take advantage of the growing demand from various industry verticals. For instance, in October 2018, Micron Technology announced its plan to purchase Intel Corporation’s shares in the joint venture with IM Flash Technologies in 2019, which will account for about USD 2.5 billion. The strategy is adopted to accelerate the development and provision of 3D XPoint technology for memory customers. This will contribute to the growth of the semiconductor memory market. In July 2018, Samsung announced its plan to invest USD 9 billion on capital expenditures related to the manufacturing of NAND flash memory in 2019. The investment figure is an increase from USD 6.4 billion in 2018 for the same product. These strategies pose the company’s rapid development plans in the semiconductor memory market. Samsung focuses highly on its R&D activities to gain new profit margins, increase revenue, and work on new products & innovations.
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