The 3D NAND Flash Memory market is estimated to grow at a CAGR of 15.86% during the 2018-2024 period. The 3D NAND flash memory technology has come in the picture due to a continuous increase in demand for data storage, it offers a larger data storage and has a faster processing speed at a cheaper cost. There is an extensive demand for this technology as the existing technologies are not able to fulfill the desired requirements. The 3D NAND here proves very efficient as by giving a faster processing speed in a more compact size along with minimum power consumption.
By end-user, the 3D NAND Flash Memory Market is segmented as automotive, consumer electronics, communications, and others. The consumer electronics segment shows tremendous growth resulting from an increase in disposable income, and due to rapid technological developments in the smartphone market, demands for faster processing at a minimum space is increasing. Many companies are spending heavily in the R&D which shows the growth of these devices at a greater pace during the forecasted period.
By geography, the 3D NAND Flash Memory Market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. The Asia Pacific region is expected to witness a significant increase in demand for 3D NAND market as due to an increase in the investments in the data centers. Simultaneously, the increase in production of the smartphones & automobiles in China and India acts as a driver which is expected to push the demand of 3D NAND during the forecasted period.
Major industry players profiled as a part of this report are Intel Corporation, Micron Technology Inc, SK Hynix Inc, Samsung Corporation, Western Digital Corporation, Toshiba Corporation, Yangtze Memory Technologies Co., Ltd, and ATP Electronics Inc.