Global Standalone Memory Market Size, Share, Opportunities, And Trends By Product Type (DRAM, NAND, NOR, SRAM, Others), By End User (Automotive, Consumer Electronics, Others), And By Geography - Forecasts From 2023 To 2028

Global Standalone Memory Market is projected to grow at a CAGR of 10.47% to reach US$343.751 billion in 2028 from US$171.263 billion in 2021.

Standalone memory refers to chip designs and fabrication methods that are specifically linked to magnetic random-access memory (MRAM), ferroelectric RAM, dynamic random-access memory (DRAM), and read-only memory. (ROM). These memories are found mostly in automobiles, consumer electronic devices, and many other industries. Despite the recession, the tendency toward home and remote working has increased demand for internet service providers (ISPs), IT infrastructure providers, and data centers, driving the standalone memory market growth. The increasing use of Internet of things devices, as well as the adoption of sensor technology in wearable and AI-enabled devices, has increased demand for quick data transfers and high storage density, providing a significant opportunity for the growth of the global standalone memory market.

The rising demand for consumer electronics will boost the market growth

Consumer electronics make a major contribution to the market growth of standalone memory and in this, the DRAM type is among the widely used memory in the consumer electronics industry. The potential of standalone memory has been increased by new memory technologies that enable more data to be stored for less cost than the costly silicon chips found in popular consumer electronics like mobile phones and tablets. The use of mobile and tablets is growing every day, which helps the global standalone memory market to grow at a rapid pace. According to World Bank data, there will be 6.3 billion smartphone subscriptions by the end of 2021, accounting for approximately 77% of all mobile phone subscriptions, and by 2027, this figure is projected to rise to 7.8 billion, accounting for 87% of all mobile users. As this smartphone subscription rises and the use of consumer electronic items increases the need for integrating standalone memory to enhance consumer electronic products will also increase which will boost the market growth of global standalone memory.

Increasing demand in the automobile industry will boost market growth

Due to the expansion of ADAS integration and self-driving vehicles, among other factors, standalone memory applications are expanding in the automotive industry. High-performance memory adoption has been sparked by developments in the car industry, supporting the market's expansion. For the forecast period, it is determined that the substantial expansion of the automotive industry, along with integration and demand for memory devices, will accelerate market development. For instance, in July 2021, Fujitsu started mass producing 4Mbit FRAM that is suitable for automotive use and can function at 125°C and is for use in industrial robots and automotive uses like advanced driver-assistance systems (ADAS), which require high-reliability electronic components, this FRAM product satisfies the AEC-Q100 Grade 1 qualification requirements for "automotive grade" components. As the increasing of electric vehicle sales, the demand for standalone memory will also grow.  According to the International Energy Agency (IEA), despite supply chain delays and due to the Covid-19 epidemic, electric car sales set a new high in 2021 and the sales nearly doubled to 6.6 million showing a sales share of approximately 9% in comparison to 2020, increasing the total number of electric vehicles on the road to 16.5 million. According to the OICA data, the production of cars globally has increased from 57 086 075 units in 2021 to 61 598 650 units in 2022 showing a variation of an 8% increase. This demonstrates that demand for standalone memory will increase due to the increased development of memory chips for automotive and worldwide EV sales, which will drive market growth.

During the forecast period, the Asia Pacific region is expected to dominate the market growth

The Asia Pacific region will dominate the standalone memory market during the forecasted period. The consumer electronics, automotive, and other industries in nations like China, India, Japan, and South Korea are studied to support the demand for standalone memory in the region. According to Invest in India, a National Investment Promotion and Facilitation Agency, India's automotive sector is worth more than USD100 billion, accounts for 8% of total exports, and 2.3% of GDP, and is on track to become the world's third-largest by 2025. The increasing investment by the market players in EV technology will also boost the standalone memory demand. In December 2021, Hyundai declared a USD 530.25 million investment in R&D in India, to launch six EVs by 2028. In October 2021, Tata Motors announced that private equity company TPG and Abu Dhabi's ADQ had agreed to invest USD 1 billion in its electric vehicle sector. These factors all add to market growth in the Asia Pacific region's growing auto sector which will boost the standalone memory market growth.

Market Key Developments.

• In May 2022, SK Hynix, a leading DRAM maker, launched the latest memory solutions for server applications, including DDR5 DIMM and next-generation technologies such as Processing in Memory (PiM) and Compute Express Link, at the Intel Vision conference. (CXL).

Global Standalone Memory Market Scope:

Segmentation

• By Product Type
  • DRAM
  • NAND
  • NOR
  • SRAM
  • Others
• By End-User
  • Automotive
  • Consumer Electronics
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    •  Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Suadi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Others