According to the new research report published by The Insight Partners, titled “Next Gen Memory Market– Global Analysis and Forecasts to 2027”, the global next gen memory market is expected to reach US$ 26.57 Mn by 2027, registering a CAGR of 29.4 % during the forecast period 2019-2027.
Presence of some of the leading manufactures such as Fujitsu, Samsung Electronics, SK Hynix, Toshiba Corporation, and others has fueled the developments in the next gen memory market in the region. China and India are the biggest catalysts of growth in the Asia-Pacific region. Further, countries such as Japan, South Korea, Taiwan, and others are pacing up in the next gen memory market. The development of autonomous vehicles and connected infrastructure in Japan, China and South Korea will further boost the demands of next gen memory. Further, the region is attracting larger companies in the western part of the world to set up plants in developing economies of APAC to achieve a lower cost of manufacturing. This is driving the next gen memory market in APAC. The Indian market is one of the major market for the major players in the consumer electronics segment to grow their sales as there are abundant growth opportunities in the country. Also, many of the large players in the consumer electronics as well as other sectors have established their manufacturing plants in China owing to the manufacturing capabilities in the country.
The market for next gen memory globally has been segmented into two major segments including type and application. The type segment is fragmented by volatile and non-volatile memory. The non-volatile memory is further segmented into FRAM, MRAM, ReRAM, phase-change memory, Nano RAM, and others. The application segment is sub-divided into consumer electronics, industrial, automotive & transportation, enterprise storage, military & aerospace, healthcare, it & telecom, and others. On the basis of geography, the next gen memory market is presently dominated by APAC in terms of market share.
Key findings of the study:
The global next gen memory market is experiencing a stable growth in the current scenario and is anticipated to rise in the coming years. The market for next gen memory comprises of several tier1, tier2 and tier3 companies across the globe which capitalize substantial amounts with an objective to develop advanced electronic and semiconductor storage products. Geographically, the next gen memory market is categorized on basis of five strategic regions as North America, Europe, Asia Pacific, Middle East and Africa, and South America. Asia Pacific region accounted for the maximum market share in 2017, nearly half of the entire market.
North America and Europe together contributed to the largest share of market revenue which accounted for more than 75% of overall market.
The global next gen memory market by application was led by consumer electronics segment in the year 2017 and is anticipated to continue its dominance during the forecast period. Several semiconductor companies are regularly coming up with advanced technologies which is attracting the industry. The next gen memory market is expected to witness significant growth in the coming years, as the need for high-end memory requirement is expected to rise exponentially, propelled heavily by the consumer interest.
The key companies profiled in this report include Advanced Micro Devices, Inc., Cypress Semiconductor Corporation, Fujitsu Limited, Intel Corporation, Microchip Technology Incorporated, Micron Technology, Inc., NXP Semiconductors N.V., Samsung Electronics Co. Ltd., SK Hynix Inc., and Toshiba Corporation among others.
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