According to the new research report published by The Insight Partners, titled “SLC NAND Flash Memory Market - Global Analysis and Forecast to 2027”, the global SLC NAND Flash Memory market is expected to reach US$ 1.98 Bn in 2027, registering a CAGR of 5.6% during the forecast period 2019-2027. In terms of volume, the global SLC NAND flash memory market accounted to 142 Mn units in 2018 and is expected to grow at a CAGR of 6.4% during the forecast period 2019 - 2027, to account to US$ 260.5 Mn units by 2027.
The rapidly expanding technology development coupled with humongous production of data has critically increased the demand of memories that are not only capable of handling large data efficiently but are also cost-effective and scalable. The SLC NAND flash memory is something that fits into almost all these demands of the end-users. These type of memory technologies offer relatively exclusive benefits to the industry players as they use less power and operate much faster than already existing memory technologies. Consumer electronics devices such as smartphones, tablets, PCs, TVs, washing machines, fridge, music players, etc. have become integral part of individual’s lives. All these devices are becoming smarter with the ongoing technological advancements and integration of Internet of Things (IoT) and Artificial Intelligence (AI). The above mentioned consumer electronics create huge amount of data which needs advanced memory storage products. Also, the technological developments and availability of smart features in consumer electronics devices is fueling the demand for consumer electronics devices in the coming years. The growing transformation of smartphones into ubiquitous devices is further expected to drive demands for higher capacity memories and therefore drive the SLC NAND flash market.
Moreover, the global flash memory market is expected to experience continuous evolution in memory products with an aim to better serve the community of end users. The XL Flash 3D SLC NAND memory by Toshiba is a specialized and low-latency flash memory. This type would use a 128 Gb die, and support a higher parallelism degree than the original 3D NAND flash memory. 3-D NAND is the most advanced form of NAND, enabling greater speed, lower cast and higher density. 1-pass 3D NAND programming enables higher speed read/write bandwidth and IO. The trend is predicted to pitch over the period leading to a huge opportunity for the SLC NAND flash memory players.
The SLC NAND flash memory market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, and Rest of the World. The Asia Pacific region holds the highest market share, and is projected to be the fastest-growing region as well in the coming years. The APAC region consists of many developing countries which experiences continuous growth in the electronics industry. Due to a rise in the disposable income of individuals, demand for advanced consumer electronics such as smart wearable, smartphones, tablets are increasing. This factor helps the entire electronics industry to boom and henceforth, assists in accelerating the business opportunities for SLC NAND flash memory providers. This would ultimately boost the business of SLC NAND flash memory market.
The SLC NAND flash memory market by application is segmented into automotive, industrial, communication, computers & IT, consumer electronics, and others. The industrial application holds a significant share in the market, whereas consumer electronics is expected to be the fastest-growing application during the forecast period. The global manufacturing sector is expanding rapidly with the emerging investments from various regions in technological advancements. The manufacturers are anticipated to invest 13% more in several nonresidential buildings and machinery in such regions in the coming years. On the other hand, Smartphones and tablets are essential tools, whatever the price point, end-users expect high-performance, power-efficient, cutting-edge technology inside the products that enrich their professional and personal lives. The extensive use of these memories in smartphones is expected to increase their adoptions in various other electronic devices.
The major players operating in the market for SLC NAND flash memory market are Cypress Semiconductor, Intel Corporation, Kingston Technology Europe Co LLP, Microchip Technology Inc., Micron Technology Inc., Samsung Electronics Co Ltd., SK Hynix Semiconductor Inc., Toshiba Corporation, Western Digital Corporation, Winbond Electronics Corporation, and Fudan Microelectronics (FMSH) among others.
SLC NAND Flash Memory Market - Geographic Breakdown, 2018
The report segments the global SLC NAND flash memory market as follows:
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