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Memory Market by Type (Dynamic Random Access Memory, Static Random Access Memory, NOR Flash, NAND Flash, Read-only Memory)
The Global Memory Market size would reach US$ 240.7 billion by 2023. In 2033, it would exhibit steady growth and surpass US$ 480.0 billion. From 2023 to 2033, the market is predicted to register growth at a CAGR of 7.1%. Memory sales went high back from 2018 to 2022. The market exhibited 11.0% CAGR in the historical period.
Electronic equipment such as smartphones, flat-screen displays, and LED televisions, heavily rely on semiconductor memory goods. Both aerospace and military systems are also dependent on these products.
Advancement of biometric technology would be advantageous for the memory sector. The industry under study is expanding quickly. It is attributed to rising demand for smartphones and other high-tech goods such as wearable technology.
A few companies are spending in this technology to obtain a competitive edge. For example, in April 2022, SK Hynix selected Keysight Technologies, Inc.’s integrated peripheral component. It would be used to interconnect express (PCIe) 5.0 test platforms.
It will be further utilized to hasten the development of memory semiconductors. These are used in the design of cutting-edge products. These can handle enormous amounts of data and support high data rates.
New memory technologies have increased the potential of memory. It enables storage of huge amounts of data at a relatively low cost.
These do not make use of expensive-to-build silicon chips. Such expensive chips are very popular in consumer electronic gadgets such as notebooks, cell phones, and digital cameras.
?United Microelectronics Corporation, for instance, is a global semiconductor foundry. It enables customers to incorporate low power, high performance, and low latency embedded MRAM memory blocks.
These are incorporated into multipoint control units and system on a chips. These are aimed at the internet of things, wearables, and the consumer electronics sector.
The company’s STT-MRAM blocks are embedded and non-volatile. These are equipped with complementary metal oxide semiconductor manufacturing process.
| Attributes | Key Insights |
|---|---|
| Memory Market Estimated Size (2023E) | US$ 240.7 billion |
| Projected Market Valuation (2033F) | US$ 480.0 billion |
| Value-based CAGR (2023 to 2033) | 7.1% |
| USA Value-based CAGR (2023 to 2033) | 6.0% |
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Persistence Market Research mentions that the memory chip market witnessed 11.0% CAGR from 2018 to 2022. It would exhibit 7.1% CAGR in the estimated time frame of 2023 and 2033.
Semiconductors are currently the fundamental components of contemporary technology. Direct effects on all downstream technologies are produced by developments and advancements in the market.
In 2020, there are expected to be around 50.1 billion linked devices worldwide, according to the National Cable and Telecommunications Association. Internet of Things could rise substantially. It would also be advantageous for growth of the memory business.
Advanced semiconductor memory chips enable devices to establish remote communication. These are equipped in every internet of things and industrial internet of things device.
The market will gain significantly from ongoing development and innovation in numerous industries. These include automotive, telecommunication, and data centers.
By 2033, the market will expand amid use of computer devices. These will find extensive usage in cars, infotainment, and safety systems across the globe.
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North America memory market size was US$ 83.68 billion in 2022. It would reach US$ 92.91 billion in 2023. Persistence Market Research predicts the region to surpass US$ 185.2 billion by 2033.
In January 2023, Micron Technology Inc. developed 9400 NVMe SSD drives. They will be used in managing most of the workload of data centers across the world. They are capable of storing 30 terabytes of data per SSD.
The drive would be a superior performer than existing products. It has 77% better power efficiency, as compared to other products.
Hence, leading companies in North America are working on research and development. They want to launch high performance memory storage devices. These factors would propel the flash memory market in North America.
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Why are Memory Sales Growing Exponentially in the USA?
The USA memory market size would reach US$ 144.5 billion by 2033. From 2023 to 2033, it would exhibit 6.0% CAGR. The United States is expected to create an absolute $ opportunity of US$ 63.9 billion.
For instance, in November 2022, Micron Technology Inc. collaborated with AMD. It aims to offer high-performance computing technology. It will be equipped with Micron DDR5 data center memory and AMD’s 4th GEN EPYC processors.
The memory device is being used in high-performance computing applications. These include weather & climate forecasting and meteorological applications.
Would the United Kingdom Exhibit Steady Memory Demand?
The United Kingdom memory chip market would expand at 6.3% CAGR from 2023 to 2033. It exhibited 9.8% CAGR in the historical period. Persistence Market Research predicts the memory market to reach a valuation of US$ 24.8 billion by 2033 in the United Kingdom.
Udisys, for instance, offers flash memory cards, managed NAND, and industrial DRAM modules. It provides DRAM modules such as DDR4, DDR3, DDR2, and SDRAM. Presence of leading memory semiconductor companies in the country would boost the market.
Would South Korea be Considered as a Leading Memory Industry?
South Korea next generation memory market would create an absolute dollar opportunity of US$ 10.1 billion. It witnessed 11.7% CAGR from 2018 to 2022. Between 2023 and 2033, it would exhibit 7.5% CAGR.
For instance, in December 2022, Samsung Electronics Co Ltd developed the industry’s first DDR5 DRAM. It is based on 12 nm class process technology. It has 16 GB RAM and has greater power efficiency, as compared to existing players.
The DRAM would serve applied applications such as artificial intelligence, next generation computing, and data centers. Launch of similar products by key companies would push sales in South Korea.
How are Japan-based Memory Solution Providers Faring?
Japan memory industry would exceed US$ 35.0 billion by 2033. It would exhibit 6.6% CAGR from 2023 to 2033. It exhibited 10.2% CAGR in the historical period. An opportunity of US$ 16.5 billion may be created by the country in 2033.
For instance, ROHM Co Ltd has developed memories such as DRAM, EEPROM, and NOR flash memories. DRAM memories such as MSM514 series are used in automotive, industrial equipment, and PC gaming & communication industries. Hence, development of 3D NAND flash memory market in Japan would aid demand.
Which is the Leading Application of Memory Worldwide?
Based on application, the consumer products segment would exhibit 6.9% CAGR between 2023 and 2033. In the historical period, it witnessed 10.1% CAGR.
Use of memory in gaming PCs/laptops, smart watches, smartphones is triggering demand in consumer products. For instance, Apple Inc. developed the Apple iPhone 14 in September 2022. It has 6 GB of RAM and A15 bionic memory.
Samsung Electronics Co Ltd, on the other hand, offers 12 GB of RAM in Samsung Galaxy Z Fold3 smartphones. Adoption of memory in recently developed smartphones would trigger growth in the market.
Leading players in the next generation memory market are focusing on new product launches. The market is competitive in nature. Several companies are delivering memory to the international and domestic markets.
Key players are engaging in strategic collaborations, mergers, and joint ventures. A few other companies are focusing on acquisitions to expand their reach.
Few of the recent developments in the memory market are:
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | US$ 240.7 billion |
| Projected Market Valuation (2033) | US$ 480.0 billion |
| Value-based CAGR (2023 to 2033) | 7.1% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (US$ billion) |
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The global memory industry size would be worth US$ 240.7 billion by 2023.
The global memory industry would surpass US$ 480.0 billion by 2033.
The memory industry exhibited a CAGR of 11.0% from 2018 to 2022.
The global memory industry would exhibit a CAGR of 7.1% from 2023 to 2033.
The dynamic random access memory segment by type would exhibit 7.0% CAGR by 2033.
By application, the consumer products segment would witness 6.9% CAGR from 2023 to 2033.
The USA memory industry would exhibit 6.0% CAGR from 2023 to 2033 and reach US$ 144.5 billion by 2033.
Samsung Electronics Co. Ltd, Micron Technology Inc., SK Hynix Inc., and ROHM Co. Ltd., are key companies in the memory industry.
North America would lead the memory industry till 2033 and its size will be US$ 185.2 billion.
