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Next-Generation Memory Market Trends

Report ID: GMI8697
Published Date: Mar 2024
Report Format: PDF

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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.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

Next-generation memory industry was valued at over USD 6.7 billion in 2023 and is estimated to register a CAGR of over 24.8% between 2024 & 2032, driven by increasing interest in IoT devices.

300 mm Memory size segment held the largest market share of over 55% in 2023 and is set to gain traction by 2032, owing to an increase in efficiency during production, better yield rates, and lower prices for manufacturing per unit.

North America next-generation memory market held a market share of over 36.5% in 2023 and is set to gain traction by 2032, driven by a strong ecosystem of semiconductor firms, research institutes and technology companies.

Samsung, Micron Technology, Inc., Fujitsu, SK HYNIX INC., Honeywell International Inc., Microchip Technology Inc., Everspin Technologies Inc. are some of the major industry contenders.