The Semiconductor Memory market is projected to reach US$147.212 billion by 2024 from US$143.737 billion in 2018 with a CAGR of 0.40%. A rapid increasing implementation of IoT technology over multiple industry verticals is a major factor supporting the growth of the market. The technological developments show a significant demand of components, such as sensors, microcontrollers, storage, and connectivity solutions. As a result, storage devices are evolving to address the high specification requirements which shows an increase in demand of semiconductors during the forecasted period in this industry. However, the fluctuation in prices due to the cyclical nature of the semiconductor industry, the growth of the market is forecasted to be heavily restrained during the forecast period. Asia Pacific region will hold a substantial share in the market and is projected to grow at a significant rate during the coming years.
Budding consumer electronics market
Increasing penetration of electronics across industry verticals
Cyclical nature of the market
In November 2018, SK Hynix Inc., launched the world’s first 96-layer 512Gb CGT based 4D Flash NAND based on the company’s Triple-Level Cell arrays using the Charge Trap Flash design paired with Peri. Under Cell technology.
In October 2018, Western Digital announced their new iNAND AT EU312 UFS EFD which is an automotive grade solution for addressing the demands for automotive systems such as Advanced Driver Assistance Systems (ADAS), and autonomous vehicles.
The major players profiled in the semiconductor memory market include Samsung Corporation, Intel Corporation, Micron Technology, and SK Hynix, among others.
The semiconductor memory market has been analyzed through the following segments:
By Industry Vertical
Communication and Technology
Europe Middle East and Africa