Next-Generation Memory Market - By Technology (Nonvolatile Memories [SRAM, Magneto-Resistive Random-Access Memory (MRAM), Ferroelectric RAM (FRAM), Resistive Random-Access Memory (ReRAM), Nano RAM, Others], Volatile Memories [Hybrid Memory Cube], By Memory Wafer, By Application, Forecast 2024 - 2032

Next-Generation Memory Market Size

Next-Generation Memory Market size was valued at over USD 6.7 billion in 2023 and is estimated to register a CAGR of over 24.8% between 2024 & 2032. Increasing interest in IoT devices is propelling the market expansion.
 

IoT devices produce big data that need to be stored and analyzed effectively, owing to which there is an increasing requirement for advanced memory technologies. Next-gen memory solutions provide many benefits, such as their compact size & large data storing capacity and low power consumption, which are tailor-made to suit IoT-related needs & applications such as smart meters and connected cars, among others.
 

This next-generation memory market has witnessed significant growth in response to the increasing demand for non-volatile memory products. Critical applications that require constant storage such as enterprise storage, data centers, automotive electronics & IoT devices do not prefer volatile memory as it does not retain data when power is switched off. Against traditional non-volatile memories such as NAND flash & Hard Disk Drives (HDDs), next-generation memory technologies including Resistive RAM (ReRAM), Phase-Change Memory (PCM), and Magnetic RAM (MRAM) are significantly advantageous due to their faster access times, decreased power consumption & higher density.
 

In the effort to come up with next generation memory, there are a lot of issues. The desire for faster speeds, more capacities and lower power consumption in memory technology is also costly. This is compounded by the reality that introducing new technology into current systems and norms presents its own set of problems. For instance, overcoming physical limitations that are inherent in emerging memory technologies such as phase change or resistive random-access memories requires extensive research and development.
 

Next-Generation Memory Market Trends

High-Performance Computing (HPC) is becoming increasingly sought after, thus making it the primary growth driver in the market. Current scientific simulations, artificial intelligence, deep learning, and data analytics require huge amounts of data and large-scale processing capacities. These are memories with higher bandwidths due to their emerging technologies which consist of Resistive RAM (ReRAM), Phase-Change Memory (PCM), and Magnetic RAM (MRAM).
 

They are ideal for HPC environments because of these features. In November 2023, Altair, a HPC and AI firm, introduced Altair HPCWorks; an HPC and cloud platform. It has an AI-driven user portal that includes advanced HPC monitoring/reporting tools for easier cloud scaling as well as next-gen distributed workflow tech.
 

Data storage and processing are the prominent trends in the next-generation memory market. The demand for faster memory solutions has been driven by the massive data volumes brought about by Big Data, Internet of Things (IoT), Artificial intelligence (AI), machine learning etc. These solutions are more efficient and save energy to store & process big data. In comparison to traditional memory solutions, next-generation memory technologies such as Resistive RAM (ReRAM), Phase-Change Memory (PCM) and Magnetic RAM (MRAM) provide both fast, durable and low power consuming products.
 

Next-Generation Memory Market Analysis

Based on memory wafer size, the market is segmented into 200 mm and 300 mm. The 300 mm segment held the largest market share of over 55% in 2023. Benefits of moving to larger wafers such as 300mm include an increase in efficiency during production, better yield rates, and lower prices for manufacturing per unit.
 

Additionally, newer generation memories like Resistive RAM (ReRAM), Phase-Change Memory (PCM), and Magnetic RAM (MRAM) will benefit from the economies of scale via 300mm wafer fabrication because it allows for higher volumes at affordable costs. Again, through using 300mm domain makes semiconductor manufacturers take up more advanced process nodes and get higher chip densities which enhance the performance and raise storage capacities in future memory devices.
 

Based on technology, the next-generation memory market is segmented into nonvolatile memories and volatile memories. Nonvolatile memories is further sub segmented into SRAM, magneto resistive random-access memory, Ferroelectric RAM (FRAM), Resistive Random Access Memory (ReRAM), nano RAM, and others. Volatile memories are further sub segmented into Hybrid Memory Cube (HMC) and High Bandwidth Memory (HBM). The nonvolatile memories segment is anticipated to register a CAGR of over 26% from 2024 to 2032.
 

Non-volatile memory solutions have a capacity of retaining data even when the power is switched off, so they are essential in storing data for endeavors such as vehicle electronics, enterprise storage, and internet of things. Advances in non-volatile memory technologies like Resistive RAM (ReRAM), Phase-Change Memory (PCM) and Magnetic RAM (MRAM) have increased speed and energy efficiency as well as endurance over conventional non-volatile memories like NAND flash and Hard Disk Drives (HDD). These advances are in line with growing needs for faster data storage, retrieval and processing in data-intensive applications propelled by trends including Big Data, Artificial Intelligence (AI) and Internet of Things.
 

North America accounted for a significant share in the next-generation memory market in 2023 with a market share of over 36.5%. The region is characterized by a strong ecosystem of semiconductor firms, research institutes and technology companies that spur innovation and advancement in advanced memory technologies. Additionally, there is an increasing demand for faster and more power efficient memory solutions due to the growing need for edge computing applications, data centers and high-performance computing.
 

Moreover, North America has several key players in the semiconductor industry such as Intel, Micron Technology and IBM who are investing heavily on next generation memory such as MRAM (Magneto resistive Random Access Memory), PCM (Phase-Change Memory) and ReRAM (Resistive Random Access Memory). These businesses work together with entrepreneurial startups alongside scholarly institutions with a goal of fast-tracking commercialization as well as adoption of these inventions.
 

Next-Generation Memory Market Share

Samsung and Micron Technology, Inc. held a share of over 18% in the market in 2023. Samsung is a dominating player in the next generation memory market, which takes up the role of an innovation leader through its advanced memory technologies that it offers to the tech market. 3D NAND flash memory, LPDDR5 DRAM and HBM2E are some of the next generation memories that Samsung has been able to produce through its semiconductor making expertise.
 

Micron Technology, Inc. is an important player in the Next Generation Memory market due to its expertise in semiconductors and memory solutions. The company actively takes part in developing and commercializing advanced memory technologies such as 3D XPoint, developed together with Intel as a non-volatile memory technology.
 

Next-Generation Memory Market Companies

Major players operating in the next-generation memory industry are:

• Samsung
• Micron Technology, Inc.
• Fujitsu
• SK HYNIX INC.
• Honeywell International Inc.
• Microchip Technology Inc.
• Everspin Technologies Inc.
   

Next-Generation Memory Industry News

• In May 2023, Micron Technology, a semiconductor company, announced the manufacturing of DRAM, the 1 gamma node using an Extreme Ultraviolet (EUV) technology. This development expanded the next-generation memory manufacturing.
   
• In August 2022, Samsung launched Petabyte Storage, a next-generation memory technology, to maximize data center efficiency in an increasingly data-driven world. The new solution allows a single server unit to pack more than one petabyte of storage, enabling server manufacturers to sharply increase their storage capacity within the same floor space with a minimal number of servers.
   

The next-generation memory market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

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Market, By Technology, 2018 - 2032

• Nonvolatile Memories
  • SRAM
  • Magneto-Resistive Random-Access Memory (MRAM)
  • Ferroelectric RAM (FRAM)
  • Resistive Random-Access Memory (ReRAM)
  • Nano RAM
  • Other
• Volatile Memories
  • Hybrid Memory Cube (HMC)
  • High-bandwidth Memory (HBM)

Market, By Memory Wafer Size, 2018 – 2032

• 200 mm
• 300 mm

Market, By Application, 2018 – 2032

• BFSI
• Consumer Electronics
• Government
• Telecommunications
• Information Technology
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA