Semiconductor Memory Market Size, By Type (RAM [SRAM, SDRAM, MRAM, DRAM], ROM [EEPROM, EPROM, Flash Memory, PROM]), By Application (Aerospace & Defense, Automotive, Consumer Electronics, Industrial, Medical, Telecommunications), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024

Published Date: Dec 2018  |  Report ID: GMI2548

Report Format: PDF   |   Pages: 233   |   Base Year: 2017

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Semiconductor Memory Market size was valued at over USD 110 billion in 2017 and will grow at a CAGR of 28.5% from 2018 to 2024.

China semiconductor memory market, by type, 2017 & 2024 (USD Million)

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Digital evolutions in the overall electronics industry and the utilization of memory-based components in technically-advanced products in all the industry verticals including consumer electronics, automotive, IT & telecom, etc. are driving the semiconductor memory market. The increasing utilization of semiconductor components in the automotive & electronics systems such as DRAM, NAND Flash, etc., are the key generators for the demand for the chips and integrated devices. The automotive systems such as automated driving & control and safety & luxury systems that incorporate several storage solutions will provide increased speed and connectivity in autonomous and electric vehicles. Moreover, the rapidly-growing consumption of smartphones, laptops, consumer electronic devices, and intelligent products across the globe is adding up to the requirements for highly efficient chips.

The increasing complexity and requirements for enhanced computing capabilities in data centers across the globe are creating significant opportunities to the semiconductor memory market. In order to address the data center complexities, companies are deploying highly efficient and powerful solution that have high storage capabilities. Moreover, the trend of colocation data centers and investments of several businesses in these infrastructures in North America, Europe, and Asia Pacific are supporting the industry development. The growing popularity of the IoT technology in all industry verticals and the integration of IoT devices into the consumer & retail sector is also fueling the market size.

Semiconductor Memory Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 110 Billion (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 28.5% 2024 Value Projection: 730 Billion (USD)
Pages: 233 Tables, Charts & Figures: 339
Geographies covered (19): U.S., Canada, Germany, UK, Italy, France, Spain, Benelux, Russia, China, India, Japan, South Korea, Taiwan Brazil, Mexico, Argentina, South Africa, GCC
Segments covered: Type, Application and Region
Companies covered (17): Microchip Technology, Inc., Crocus Technology, Cypress Semiconductor Corporation, Everspin Technologies, Inc., Fujitsu Limited, GlobalFoundries, SK Hynix, Inc., Intel Corporation, Micron Technology, Inc., NXP Semiconductors, Renesas Electronics Corporation, Samsung Electronics Co. Ltd., Semiconductor Manufacturing International Corporation (SMIC), Taiwan Semiconductor Manufacturing Company Limited (TSMC), Texas Instruments Incorporated, Toshiba Corporation, Western Digital Corporation
Growth Drivers:
  • Increasing data center establishments in Asia & Europe
  • Growing memory requirements in gaming & entertainment applications
  • Rapid increase in the smartphone consumption in the Middle East and North Africa
  • Development of automotive technologies in European countries
  • Rising demand for SSDs in China and the U.S.
Pitfalls & Challenges:
  • High production costs
  • Fluctuations in the raw material supply

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Semiconductor Memory Market, By Type

RAM solutions in the semiconductor memory market are gaining a rapid share in the computer engineering, electronics, and communication applications due to the innovations in DRAM and SRAM. These products require very less power for maintaining the stored information and further provide low power consumption benefits to the applications. Companies in the market have developed efficient and application-specific volatile memory solutions that meet the computer segment requirements. Moreover, these products are witnessing a high demand due to the steady fall in prices and increasing requirements in computing applications. DRAM products also find applications in automotive systems for wireless communication, connectivity, and complexity management.

Global flash semiconductor memory industry size, 2017 & 2024 (USD Million)
Global flash semiconductor memory industry size, 2017 & 2024 (USD Million)

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Non-volatile memory solutions are witnessing high popularity in the market across the globe owing to the integration of efficient Flash memory into various applications. The developments in smartphones including AI and intelligent features require high storage capabilities to support the complex operations. Additionally, the utilization of SSDs instead of HDDs all major applications such as computers, data centers, etc., is a major factor accounting for the high consumption of 3D NAND Flash solutions. The requirement of faster and high capacity storage in machine learning, artificial intelligence, and complex databases creates several opportunities for industry growth. In July 2018, Samsung announced its plan to expand the NAND Flash memory production capacity by investing an amount of around USD 9 billion in 2019.

Semiconductor Memory Market, By Application

Consumer electronics sector dominates the semiconductor memory market with over USD 50 billion revenue in 2017. This sector is expected to continue high growth due to the rapid developments in processing systems and the integration of AI and VR capabilities with devices such as smartphones, tablets, etc. Moreover, the implementation of advanced software in computers and processors that require enhanced storing capabilities due to their complexities. To cater to these requirements, the industry is continuously working on developing latest technical advancements. Increasing awareness of consumers related to the smart products and their increased spending capabilities on such products are major reasons adding up to the demand for semiconductor products. The adoption of IoT technologies by various industries require more electronics and efficient management systems. Such factors along with the decreasing product prices are supporting the market expansion.

U.S. semiconductor memory industry size, by application, 2024 (USD Million)
U.S. semiconductor memory industry size, by application, 2024 (USD Million)

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Semiconductor Memory Market, By Region

The Asia Pacific semiconductor memory market is expected to experience growth of over 30% from 2018 to 2024 due to rapid developments in the consumer electronics industry. Moreover, the increasing establishment of semiconductor and component manufacturers in the region contributes to the growing regional revenue. China market is witnessing high growth for memory solutions and integrated products to address the requirements of electronics and automotive manufacturing operations. The high production of several electronic devices such as smartphones, laptops, and components in China and Japan accounts for a high consumption of these solutions. The major companies in the region including Samsung, SK Hynix, Nanya Technologies, Inc., etc. are continuously focusing on enhancing memory solutions and producing products capable of supporting high computing powers.

In the semiconductor memory market, the U.S. is creating huge demand for memory solutions owing to the developments in automotive & electronics sectors. The continuous expansion of autonomous vehicles and the integration of automated safety systems into all new vehicles are creating a demand for these chips. Moreover, the utilization of digital technologies and smart products across all industry verticals to ease the business operations provides an impetus for industry growth. Companies based in the U.S. have set up their manufacturing units in the Asian region due to low labor and production costs. These companies save their costs through these strategies and invest in R&D activities to develop more advanced products.

Competitive Market Share

Players operating in the market are Microchip Technology, Inc., Cypress Semiconductor Corporation, SK Hynix, Inc., Intel Corporation, Micron Technology, Inc., NXP Semiconductors, Renesas Electronics Corporation, Samsung Electronics Co., Ltd., etc. Technical innovations in the semiconductor industry and the integration of intelligent technologies in all the industry verticals are encouraging the development of the latest components. To address the requirements of the evolving electronics industry, which includes high storage capabilities to support complex computing features, manufacturers are adopting continuous product development strategies. These innovations include the introduction of 3D NAND and efficient DRAM memory solutions that have a high demand for electronic & automotive devices.

Manufacturers in the market are working on developing more advanced DRAM, NAND, and Flash memory products that address the requirements of AI, the IoT, and advanced mobile computing requirements. These players are investing heavily in research & development activities to offer innovative solutions with high speed & densities.

Semiconductor Memory Industry Background  

The semiconductor memory market is experiencing several transitions in product prices and product availability due to the high demand from end-use industries including electronics and automotive. The increased consumption and rapid evolution of PCs and smartphones across the globe are the major factors that will impact the industry demand. These advancements result in a high DRAM and NAND Flash memory demand from the electronics manufacturers, which has become crucial to be addressed by the industry players. To reduce the increasing demand and to cater to such demands, manufacturers are working on expanding their production capabilities and facilities that will increase productivity.

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