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Semiconductor Memory Market - By Type (RAM, ROM), By Application (Aerospace & Defense, Automotive, Consumer Electronics, Industrial, Medical, Telecommunications), Industry Analysis Report & Global Forecast, 2023 - 2032

  • Report ID: GMI2548
  • Published Date: Dec 2022
  • Report Format: PDF

Industry Statistics

Semiconductor Memory Market size surpassed USD 160 billion in 2022 and is anticipated to register 7.5% CAGR from 2023 to 2032 driven by the rising penetration of 5G and IoT devices globally.

Semiconductor Memory Market

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As the Internet of Things (IoT), connectivity, automation and edge technologies are made possible by the fifth generation of wireless technology, IT companies are developing smarter, connected products to support them. Similarly, the rollout of 5G encourages semiconductor factories to develop the higher-performing, ultra-flat wafers required for these gadgets. Companies are taking advantage of the lucrative opportunities in the sector by taking efforts to develop production techniques for more wafers and chips in less time. Furthermore, increasing investments by several cities in the development of advanced data centers are projected to support growth by 2032.

Raw material supply fluctuations may impede industry expansion

Product availability fluctuates considerably when vendors in the semiconductor memory market fail to deliver sufficient raw materials and other components to fulfill the demands of manufacturers. The execution of government regulations as well as the volatility in the price of chemicals and gaseous substances are causing the crisis in component availability from the supplier's perspective. Although many suppliers have contracts with manufacturers, only a handful can satisfy the enormous demand. However, the development of new and advanced production methods is foreseen to aid manufacturers in overcoming this restraint.

Extensive use for consumer electronics to complement ROM segment progress

The read only memory (ROM) segment is projected to register over 5% growth during 2023 to 2032. The growing need for high-speed data transmission, power efficiency and high-performance of these devices across consumer electronic applications has led key competitors to offer new products for embedded applications to acquire a competitive edge, which is speculated to propel segment development.

Growing use for storing data and basic software to promote EPROM type memory

The EPROM semiconductor memory market generated USD 250 million revenue in 2022. The widespread application of EPROM solutions to store information and basic software for video cards and modems is increasing product acceptance. Moreover, the high demand for faster memory as well as high-capacity storage in AI, ML and complicated databases is expected to supplement industry growth.

Increasing demand for wearable devices to foster consumer electronics market

The consumer electronics application segment is poised to attain 40% share by 2032. Since wearable electronic devices are heavily integrated with low-power memory components, including MRAM, EEPROM and NAND flash memory, the segment's development is attributable to the rising demand for wearable devices, which is anticipated to create massive growth potential for semiconductor memory producers. Additionally, the widespread use of AI and IoT technologies in wearable electronic devices is likely to accelerate business development.

Global Semiconductor Memory Market Share, By Application

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Rapid development of compact electronic devices in Asia Pacific

The Asia Pacific semiconductor memory market held 50% of the global share in 2022 and is speculated to grow substantially by 2032. The growing demand for high-capacity, low-power memory for the development of compact-sized smart portable electronic devices is a significant driver fueling product demand in large APAC nations such as China and India. Moreover, governments are launching programs aimed at promoting semiconductor production in the region, which is set to stimulate the industry progress.

Global Semiconductor Memory Market Share, By Region

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Innovative product launches by leading participants to define the competitive landscape

The industry consists of well-established players, including Micron Technology, Samsung Electronics Co., Ltd., Winbond Electronics Corporation, Kioxia Corporation, SK Hynix, Inc., Fujitsu Limited, and Western Digital Corporation, among others. These companies are introducing new products to broaden their offerings in the business overview.

Impact of COVID-19 on semiconductor memory market trends

Amidst the COVID-19 outbreak, governments imposed nationwide lockdowns to slow the spread of the disease, which severely impacted the economy by disrupting the value chains of the most essential sectors. The semiconductor memory sector has been negatively affected by changes in customer preferences, a delay in raw material supply, and the closure of production sites. However, the market is expected to gain speed over the anticipated timeframe owing to a declining infection rate, rapid development, rising disposable income among people, and the resumption of production systems and industrial facilities.

This market research report on semiconductor memory includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Type

  • Random Access Memory (RAM)
    • Static Random-access Memory (SRAM)
    • Synchronous Dynamic Random Access Memory (SDRAM)
    • Magneto-resistive Random-access Memory (MRAM)
    • Dynamic Random-access Memory (DRAM)
  • Read Only Memory (ROM)
    • Electrically Erasable Programmable Read Only Memory (EEROM)
    • Erasable Programmable Read Only Memory (EPROM)
    • Programmable Read Only Memory (PROM)
    • Flash memory

Market, By Applications

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

The above information is provided on a regional and country basis for the following:

North America

  • U.S.
  • Canada


  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Spain
  • Benelux

Asia Pacific

  • China
  • India
  • Japan
  • South Korea
  • Taiwan

Latin America

  • Brazil
  • Mexico
  • Argentina


  • GCC
  • South Africa


Authors: Preeti Wadhwani, Aayush Jain

Frequently Asked Questions (FAQ) :

The market size of semiconductor memory exceeded USD 160 billion in 2022 and is projected to grow at more than 7.5% CAGR between 2023 and 2032 owing to the proliferation of 5G and IoT devices globally.

The consumer electronics segment is set to hold over 40% of the semiconductor memory industry share by 2032, due to the growing demand for wearable electronic devices.

The Asia Pacific market garnered over 50% of the revenue share in 2022 and is poised to grow substantially during 2023 to 2032 on account of the growing product demand for the development of compact electronic devices.

Micron Technology, Samsung Electronics Co., Ltd., Winbond Electronics Corporation, Kioxia Corporation, SK Hynix, Inc., Fujitsu Limited, and Western Digital Corporation, are some of the well-established companies in the business scenario.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 18
  • Tables & Figures: 336
  • Countries covered: 19
  • Pages: 240
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