Semiconductor Memory Market to Grow at a CAGR of 7.02% Until 2026
Increase
in the demand for high capacity and low power consuming memory requirements in
various electronics sectors to drive global semiconductor memory market
According to TechSci Research report, “Global
Semiconductor
Memory Market By Type (Volatile and Non-Volatile), By Volatile Type (DRAM,
SRAM, SDRAM and MRAM), By Non-Volatile Type (PROM, EPROM, EEPROM and Flash
Memory), By Application (Consumer Electronics, IT & Telecommunications,
Automotive, Medical Devices, Aerospace & Defence and Others), By Region,
Competition, Forecast & Opportunities, 2016-2026’’,
the global semiconductor memory market is projected to cross USD167.08 billion
by 2026 at a CAGR of 7.02% on account of the growing demand for Solid State Devices
(SSDs) for faster storage applications in new generation computers with new
memory product launches. Moreover, the
need for high storage capabilities in semiconductor chips used by different
companies will positively influence the global semiconductor memory market in the upcoming years.
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Semiconductor Memory Market"
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The global
semiconductor memory market can be segmented based on type, volatile type,
non-volatile type, application and region. In terms of type, the market can be divided
into volatile
and non-volatile. The
non-volatile segment has a market share of 50.61% in
2020 due to the high demand for permanent storages in the electronics, healthcare,
defense, security and telecommunication sectors within the growing economies. The
increase in the demand for high storage capability with no impact on system’s
performance drives the non-volatile segment of the global semiconductor memory market.
On
the basis of volatile type, the market is split up into DRAM, SRAM, SDRAM and
MRAM. The DRAM segment has 35.34% of the market shares in 2020 owing to its data
integrity and storage longevity. This volatile memory system can be designed using
the most common technologies available, thus positively shaping their growth in
the global semiconductor memory market.
On
the basis of non-volatile type, the market is branched into PROM, EPROM, EEPROM
and Flash Memory. The PROM segment has 35.23% of the market shares in 2020
owing to its program storing proficiency into the chip without further
modifying or erasing. This increase is due to the high storage endurance and
inexpensive cost.
Based
on application, the market
can be bifurcated into Consumer Electronics, IT & Telecommunications,
Automotive, Medical Devices, Aerospace & Defence and others (Industrial,
Smart Cards, Mp3 Players, etc.). The consumer electronics segment accounts
for the largest market share of 30.54% due to the increase in demand for the production
of electronics with high storage and fast speed.
In the global
semiconductor memory market, Asia-Pacific is the largest contributor with 35.56%
of market shares in 2020. South Korea is the largest
contributing country in the region for the forecast period, followed by China,
India, Taiwan and Japan. Being the world’s largest semiconductor memory
manufacturer and exporter, South Korea’s growing urbanization and research technologies
are contributing to the country’s leading market position. Meanwhile, India is at third position after China in terms of manufacturing semiconductor
memories and is growing at a quicker pace as the research and development
sectors are emerging in the upcoming years.
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Samsung Electronics Co., Ltd., Taiwan
Semiconductor Manufacturing Company Limited, Micron Technology Inc., SK Hynix,
Intel Corporation, Broadcom Inc., Qualcomm Inc., Toshiba Corporation, Texas
Instruments Inc., Nvidia Corporation, etc. are among the leading players
operating in the global semiconductor memory market. Companies operating in the
market are using organic strategies, partnerships and collaborations to boost
their shares in the global semiconductor memory market. Significant players in
the market are concentrating on accomplishing ideal operational expenses,
upgrading the system capacity, enhancing accuracy in responses, boosting
productivity with high funding in R&D, and boosting performance to support
the competitive semiconductor memory market.
“Ongoing technological advancements and
innovations for the microcomputer-based systems across the globe are boosting the
global semiconductor memory market in the forecast years. The need for manufacturing
more volatile memories with the rise in RAM utilization in electronics and automobile
sectors with an increase in the requirement for wearable devices are boosting
the market globally. Moreover, growing innovation in the design of semiconductor
memory systems has also been positively influencing the market with a continuous
urge for launching new products in the upcoming years.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Semiconductor
Memory Market By Type (Volatile and Non-Volatile), By Volatile Type (DRAM,
SRAM, SDRAM and MRAM), By Non-Volatile Type (PROM, EPROM, EEPROM and Flash
Memory), By Application (Consumer Electronics, IT & Telecommunications,
Automotive, Medical Devices, Aerospace & Defence and Others), By Region,
Competition, Forecast & Opportunities, 2016-2026’’ has evaluated the future growth
potential of the global semiconductor memory market by providing the statistics
and information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
in the global semiconductor memory market.
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