Memory IC Market Size, Share, Opportunities, And Trends By Type (DRAM, SRAM, EEPROM, NOR, NAND, Others), By Application (Automotives, Medical, Consumer Electronics, Data Centres, Others), And By Geography - Forecasts From 2023 To 2028

Any integrated circuit with the capability to store bits of data in memory cells within a memory array whose main function is the storing and retrieval of such electronic data is referred to as a memory IC. Memory ICs are a specialized category of integrated circuits that can store data or process code. They are constructed by employing numerous amounts of semiconductors. Memory chips can store data either permanently or temporarily using static RAM (SRAM), read-only memory (ROM), dynamic random access memory (DRAM), electrically erasable programmable read-only memory (EEPROM), or random access memory (RAM). A processor has the ability to read but cannot modify the data that is permanently stored in read-only memory ICs. Memory ICs must mandatorily contain all the logic operations required for the storage and retrieval of data stored in the chip. The increase in data generated across different industries including consumer electronics, automotive, data centers, and automotive sectors is resulting in the adoption of memory-integrated chips as a fundamental part of computers, smartphones, and other electronic items.

Market Drivers

• The installation of memory ICs in smartphones

The production of portable electronics requires the installation of memory ICs as a core component. The power section of smartphones and mobile phones comprises different types of integrated chips including memory ICs, which are also known as flash IC, which have pre-installed mobile software. The effective functioning of memory IC is critical in smartphones as memory IC failure could result in dead smartphones. The rising consumption of smartphones across the world is generating an increase in demand for memory ICs in the consumer electronics sector. For instance, Apple Inc., a leading smartphone manufacturing company reported in its annual report for 2022 that approximately 52% of its total revenue was generated by the sale of iPhones and the number of iPhone sales increased from 196.9 million units in 2020 to 232.2 million units in 2022. In addition, Apple Inc. announced in March 2022 that it would be considering NAND flash IC samples from leading memory IC producers to be incorporated into the future production of iPhones. Therefore, the universal increase in the demand for smartphones manufactured by different companies is a significant factor driving the demand for the memory IC market.

• The rise in demand for surveillance cameras

The rise in crime rates across several major economies and the development in camera and recording technology are fueling the consumption of surveillance cameras in different regions. For instance, the National Crime Records Bureau (NCRB) of India revealed in 2021 that the rate of crimes committed on women increased by 15.3% across the country. In addition, Honeywell Company through its annual report of 2022 reported that its security division comprising of surveillance cameras generated aggregate revenue of INR 2,948 crore. In addition to rising crime rates, CCV and other surveillance areas are extensively installed in public places and the corporate sector to monitor the property. The surveillance cameras use memory IC as a fundamental chip to ensure the proper functioning of the cameras. Therefore, the extensive application of surveillance cameras all over the world is expected to propel the growth of the memory IC market over the forecast period.

The editing difficulties associated with EEPROM memory ICs could restrict the growth of the memory IC market.

The editing of EEPROM memory integrated chips used in flash memory is a highly time-consuming process as the memory needs to be edited per byte of the chip. However, the memory IC manufacturers started to group bytes to create blocks to aid in the editing process. Despite the creation of blocks, the editing process remains complicated because it is only possible to edit the complete block and cannot narrow down the editing to certain specific parts of bytes. Therefore, this could result in restricted growth of the memory IC market unless further research is conducted to improve the existing memory IC technology.

Key Developments

• In March 2023, Team Group, a company dedicated to the production of storage and memory devices introduced a new memory storage product VULCAN SO-DIMM DDR5 integrated with an IC chip enabling power management and elimination of noise distractions for gamer consumers.
• In November 2022, Micron Technology, a company producing computer data and storage devices announced the commencement of the commercial manufacture of its new dynamic random access memory (DRAM) chips at its plant in Japan. Previously, the same plant received an investment of US$332 million from the Japanese Government to upgrade its manufacturing capacity.
• In December 2022, Sahasra Electronics, an Indian company specializing in the provision of electronic services announced its decision to invest INR7.5 billion in its business division comprising of memory IC OSAT business to manufacture SSD devices and memory chips for a domestic CCTV firm as an attempt to strengthen the semiconductor industry of India.

Asia Pacific region holds a significant portion of the memory IC market and is expected to grow in the forecast period.

The presence of leading consumer electronics manufacturing companies in the Asia Pacific region such as Samsung Electronics, Xiaomi, and Huawei contributes immensely to the consumption of memory ICs in the region. The development of living standards and the growth in population in major countries such as China and India is resulting in increased consumption of digital devices resulting in a consequent rise in demand for memory ICs. In addition, the abundance of semiconductor companies and technology in the region is stimulating the growth of IC technology. Yangtze Memory Technologies Co, SK Hynix Inc., and Samsung, the world’s leading flash memory manufacturers are based in Asia. Therefore, the memory IC market in the Asia Pacific region is anticipated to expand prominently over the forecast period.

Key Market Segments:

• By Type

• DRAM
• SRAM
• EEPROM
• NOR
• NAND
• Others

• By Application

• Automotives
• Medical
• Consumer Electronics
• Data Centres
• Others

• By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Taiwan
• Others