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Semiconductor Memory Market Size, By Type (Static Random-access Memory (SRAM), Magneto-resistive Random-access Memory (MRAM), Dynamic Random-access Memory (DRAM), Flash Memory), By Application (Aerospace & Defense, Automotive, Consumer Electronics, Industrial, Medical, Telecommunications), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI2548
  • Published Date: Jun 2021
  • Report Format: PDF

Industry Trends

Semiconductor Memory Market size was valued at around USD 115 billion in 2020 and is estimated to grow at a CAGR of over 6.5% from 2021 to 2027.

Semiconductor Memory Market Overview

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The market growth is attributed to the rising demand for memory & storage devices in next generation connected cars and automotive safety systems. These devices are witnessing high adoption in various connected car applications such as instrument clusters, In-Vehicle Infotainment (IVI), 3D mapping, telematics, and navigations. The rising trend toward the deployment of ADAS, advanced sensors, and AI-enabled voice assistance systems by major automotive OEMs is expected to increase the acceptance of semiconductor memory in the market. Furthermore, market players are focusing on developing energy-efficient semiconductor memory devices for various automotive applications to stay competitive in the market.

Semiconductor memory is an essential element widely used in electronics. It is a type of semiconductor device used for data storage in a digital format. The semiconductor memory can be incorporated into any equipment integrated with a microprocessor or microcontroller of one form or another.

The COVID-19 had a moderate impact on the market due to the shutdown of various consumer electronics and automotive production facilities in the first half of 2020. The industry participants observed severe supply-chain disruptions owing to international trade restrictions imposed by several nations. The growing work-from-home scenario resulted in increasing sales of consumer electronic devices, such as laptops, PCs & tablets, supporting semiconductor memory manufacturers during the pandemic. Market leaders are also strategizing their business activities by relocating their manufacturing bases in new regions and procuring raw materials & components from local companies. This will further support the semiconductor manufacturers post-COVID-19.

Growing uptake of Dynamic Random-access Memory (DRAM) in gaming consoles will fuel the semiconductor memory market expansion

The Dynamic Random-access Memory (DRAM) is projected to observe 5% growth rate through 2027 led by the several high-end features offered by the DRAM memory, such as high-performance, low latency, and higher bandwidth, compared to SRAM and MRAM memory devices. These features increase its usage in gaming consoles, PC hardware, and High-Performance Computing (HPC) devices, supporting the industry growth.

Rising requirements for semiconductor memory in gaming and entertainment applications are poised to add new growth opportunities for DRAM manufacturers in the coming years. According to the March 2021 press release by UKIE, a not-for-profit organization, console hardware sales in the UK accounted for USD 1,037.5 million in 2020 with a y-o-y growth rate of 74.8% compared to 2019. These console and gaming hardware are extensively integrated with DRAM memories to elevate graphics and achieve lag-free performance in High-Definition (HD) video games. Expansion in the gaming industry across developed economies, such as the UK, Germany, and Japan, will impel the DRAM segment growth over the forecast period.

Proliferation of wearable devices will accelerate market share of consumer electronics application

Semiconductor Memory Market Size

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The increasing penetration of wearable devices across developed economies, such as the U.S. and China, will further add market opportunities for semiconductor memory manufacturers. According to Digital America 2019 report by Consumer Electronics Association, around 29 million U.S. households were equipped with wearable sleep tracking products in 2019. Additionally, the country accounted for the sales of USD 9.7 billion worth of wearable devices in 2020 with a y-o-y growth rate of 13.1% compared to 2019. Wearable electronic devices are extensively incorporated with low-power memory components such as MRAM, EEPROM, and NAND Flash memory. The proliferation of AI and IoT technologies across wearable electronic devices will further boost the market progression over the forecast period.

Growing establishment of data centers in APAC region will spur the market revenue

APAC Semiconductor Memory Market

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Asia Pacific semiconductor memory market captured over 50% of revenue share in 2020 and is set to expand at a CAGR of 7% by 2027 on account of the increasing establishment of cloud & hyper-scale data centers in Asia Pacific economies including China, India, Singapore, Indonesia, and South Korea. For instance, in August 2020, Alibaba Cloud launched three hyper-scale data centers in China and is planning to establish ten more data center facilities in the coming years.

Rising government investments to influence the domestic semiconductor manufacturing sector in China will further augment the industry progression. For instance, in October 2019, the Chinese government announced a USD 28.9 billion funds to reduce dependency on U.S.-based technologies and increase domestic semiconductor manufacturing capacities. The government aims to become a market leader in manufacturing processors, Integrated Circuits (ICs), and storage chipsets, which have major applications in smartphones and data centers.

Inorganic growth strategies to stay competitive in the market

Key players operating in the market are Micron Technology, Inc., Western Digital Corporation, Intel Corporation, NXP Semiconductors N.V., SK Hynix, Samsung Electronics Co., Ltd., Microchip Technology, Inc., and Cyprus Semiconductor Corporation, among others. These market leaders emphasize on collaboration and partnership activities to cater to the highly competitive edge in the industry. Companies are also focusing on portfolio expansion to achieve a high revenue share in the industry.

The semiconductor memory market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Type

  • Static Random-access Memory (SRAM)
  • Magneto-resistive Random-access Memory (MRAM)
  • Dynamic Random-access Memory (DRAM)
  • Flash Memory (ROM)

Market, By Application

  • Aerospace & defense
  • Automotive
  • Consumer electronics
  • Industrial
  • Medical
  • Telecommunications
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
    • Spain
    • Benelux
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • GCC
    • South Africa
Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

The semiconductor memory industry share exceeded USD 115 billion in 2020 and will grow at a CAGR of 6.5% between 2021 and 2027.

The Dynamic Random Access Memory or DRAM will register a growth rate of 5% from 2021 to 2027 due to numerous high-end features comprising low latency, high performance, and high bandwidth.

The Asia Pacific semiconductor memory industry recorded 50% of the overall revenue in 2020 and will expand at a CAGR of 7% through 2027 propelled by the surging establishment of cloud & hyper-scale data centers in countries such as India, China, Singapore, Indonesia, and South Korea.

Major participants in the semiconductor memory industry comprise Intel Corporation, Microchip Technology, Inc., Western Digital Corporation, Cyprus Semiconductor Corporation, Micron Technology, Inc., Samsung Electronics Co., Ltd., SK Hynix, and others.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 18
  • Tables & Figures: 206
  • Countries covered: 19
  • Pages: 215

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