Farmington, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The global Memory Devices Market was valued at US$ 136.32 Billion in 2022 and is projected to reach USD 360.22 Billion by 2030, growing at a CAGR of 14.9% from 2023 to 2030. Semiconductor memory is a type of main memory that is substituted for volatile memory in microcomputer-based systems. On these devices, data and programmes can be stored. The semiconductor memory devices PROM, ROM, EPROM, SRAM, EEPROM, and DRAM are examples. Memory devices' primary memory elements are semiconductors that store data and code forever. It is commonly believed that semiconductor memory is more dependable and efficient than other forms since the microprocessor can directly access it.
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The majority of semiconductor memories have two types of memory cells: primary and secondary. The Internet of Things (IoT) and automation in areas such as IT and telecommunications, consumer electronics, vehicles, and manufacturing are causing an increase in the use of semiconductor materials in devices. This is a tremendous boon for the industry. Different manufacturers of memory chip sets compete to develop universal goods.
Memory Devices Market Recent Developments:
- September 2020 - Micron Technology, a leading global semiconductor and memory chip supplier, has partnered with Alliance Memory. Through this partnership, Alliance Memory will become a global reseller of Micron products.
- November 2021 - Silicon Catalyst, a global semiconductor supplier, has partnered with Sony Semiconductors. This partnership has allowed the two companies to innovate technology or advanced memory chips and provide better solutions to customers.
- 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.
Memory Devices Market Segmentation Analysis:
Because more and more individuals are adopting memory storage devices, the SRAM segment generated the most revenue in 2021 and will experience significant growth over the course of the study period. Consumer gadgets such as smartphones and smartwatches are increasing demand for the commodity. The DRAM market has ample room for expansion, and the MRAM market will follow this trend in the next years. Home use of flash memory in the form of flashcards and flash drives has slowed the growth of flash ROM memory.
In 2021, information technology and telecommunications dominated the market. There has been an increase in demand for SRAM and DRAM device systems due to their high technical merits. In data centres and high-performance data processing units, its utilisation is increasing. The increasing use of SRAM in smartphones and other communication devices is driving increased demand for memory devices in the IT and telecommunications sectors.
Regional Outlook:
In 2021, the Asia-Pacific market was valued at USD 67.24 billion, and it is anticipated to become the world's largest market over the projected period. Smart cities' increasing adoption of AI and the Internet of Things drives the regional market. Key companies have also employed a number of business methods, which has contributed to the expansion of the regional market. China is the nation that generates the greatest revenue. According to the report, over the next few years it will be the nation with the biggest growth. China has some of the most advanced production facilities in the world, and its industrial and domestic operations are rapidly adopting new technologies such as the Internet of Things (IoT) and automation. This will assist the nation in increasing its market share.
Due to the usage of advanced technology in both personal computers and factories, it is anticipated that the U.S. market will expand significantly over the duration of the study.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 14.9% from 2023 to 2030 |
| Market Size in 2022 | USD 136.32 Billion |
| Revenue Forecast by 2030 | USD 360.22 Billion |
| By Type | SRAM, MRAM, DRAM, Flash ROM |
| By End User | Consumer Electronics, IT & Telecommunication, Automotive, Aerospace & Defense, Healthcare, Others (Manufacturing, Energy and Utility, Oil & Gas) |
| By Companies | Broadcom Inc. (U.S.), Intel Corporation (Netherlands), Micron Technology (U.S.), Samsung Electronics (South Korea), Toshiba (Japan), Macronix International Co., Ltd. (Taiwan), Taiwan Semiconductor (Taiwan), Sony (Japan), LAM Research (U.S.), Texas Instruments (Germany), and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Memory Devices Market Dynamic
Market Drivers:
The majority of developing economies are making significant efforts to become digitally savvy and to digitise their economy. As part of the strategy, numerous nations are implementing Internet of Things (IoT) technologies on a massive scale. Setting up smart and linked device systems, which help automate daily living, is one of the most significant aspects of IoT projects. To store and transmit information, the solutions require a substantial amount of semiconductor memory. In addition, DRAM and SRAM are required to manage the many inputs and commands.
Market Restraints:
Memory devices based on semiconductors are gaining in popularity rapidly. However, it is extremely costly to create a factory from scratch that produces memory devices. These devices have several costly components, including wafers, MOSFET, transistors, and cooling systems. This has an immediate impact on the selling price of the goods. In addition, non-commercial clients cannot afford to replace their current storage solutions and have the new device installed. In addition, setting up the factories that manufacture these memory devices takes a great deal of time, and they must adhere to a number of regulations imposed by governments around the world.
Memory Devices Market Key Segments Covered:
Top Market Players:
Broadcom Inc. (U.S.), Intel Corporation (Netherlands), Micron Technology (U.S.), Samsung Electronics (South Korea), Toshiba (Japan), Macronix International Co., Ltd. (Taiwan), Taiwan Semiconductor (Taiwan), Sony (Japan), LAM Research (U.S.), Texas Instruments (Germany), and Others.
By Type
- SRAM
- MRAM
- DRAM
- Flash ROM
By End Use
- Consumer Electronics
- IT & Telecommunication
- Automotive
- Aerospace & Defense
- Healthcare
- Others (Manufacturing, Energy and Utility, Oil & Gas)
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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