Semiconductor Memory Market worth over $180bn by 2027

Semiconductor Memory Market size is set to surpass USD 180 billion by 2027, according to a new research report by Global Market Insights, Inc.
 

The semiconductor memory market growth is attributed to the rising penetration of smart home devices across the globe. Smart home technology products, such as smart speakers, smart TVs, home security cameras, human-centric lighting, and smart thermostat devices, are extensively incorporated with advanced sensors, microcontrollers, and connectivity solutions that require storage memory components such as DRAM, and flash memory. According to a January 2020 press release by NPR, a nonprofit media organization, around 60 million U.S. adults owned at least one smart speaker device in 2019. The growing adoption of these smart home technology products will add new growth opportunities for semiconductor memory manufacturers during the forecast timeline.

 

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Rapid technological advancements in semiconductor memory devices make the older memory types obsolete, challenging industry players to reinvent and adapt to the changing semiconductor memory market dynamics. Several semiconductor memory devices, such as PROM, EPROM, and EEPROM, have been discontinued by market participants in the past due to their low performance and large size & footprint. Similarly, the introduction of new memory devices, such as the fifth-generation DDR5 DRAM, which was introduced in July 2020, makes the previous generation memory devices, such as DDR3 DRAM, outdated, thus impacting their industry growth. This is declining the profitability of semiconductor vendors, creating a negative impact on the market expansion.
 

Technological advancements in Flash memory will spur the semiconductor memory market value

UK Semiconductor Memory By Type

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The flash memory segment accounted for 40% of the market share in 2020 and is projected to witness 10% growth rate through 2027 led by the several high-end features offered by Flash memory, such as high storage capacity, high data transfer speed, and low noise, compared to magnetic memory devices such as hard-disk drives. Companies are proactively focusing on developing high-performance and energy-efficient semiconductor memory devices to stay competitive in the market. For instance, in February 2021, Western Digital Corporation and Kioxia Corporation launched a sixth-generation 3D Flash memory. The new 3D Flash memory has 162 semiconductor layers of architecture and offers up to 2.4 times higher performance than its previous generation devices.
 

Flash memory devices are witnessing high demand from various embedded systems such as laptops, desktop PCs, high-performance computing, and AI-based embedded hardware. These embedded systems require high-speed data transfer, lower latency, and power efficiency, creating high growth opportunities for semiconductor memory manufacturers. Companies are therefore emphasizing on launching new products for embedded applications to gain a competitive edge in the market.
 

Browse key industry insights spread across 215 pages with 181 market data tables and 25 figures & charts from the report, “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” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/semiconductor-memory-market 

 

Proliferation of 5G communication technology will propel the semiconductor memory market demand

The telecommunication segment captured 30% of revenue share in 2020 and will grow at a CAGR of 5% by 2027 on account of the rise in internet traffic across the globe, creating high strains on telecommunication servers and data centers. The increasing penetration of internet users has increased internet traffic, creating a high demand for semiconductor memory devices across the telecommunication sector. According to the India Cellular & Electronics Association July 2020 report, the number of active internet users in India was around 500 million in 2019, which is expected to cross the 820 million mark by 2022. Telecom players are therefore focusing on rising their server storage capabilities, creating new opportunities for semiconductor memory manufacturers in the market.
 

The commercialization of 5G technology across developed and developing economies will further fuel the semiconductor memory market progression. According to the March 2021 press release by the European 5G Observatory, commercial 5G services have been deployed in 24 countries out of the EU-27 economies. The 5G technology offers up to 10 GB/sec data transmission speed that is around 100 times faster than the 4G technology, creating a high demand for semiconductor memory devices for storage applications. The new 5G devices will require efficient processors, memory, and storage components, which are poised to drive the industry revenue during the forecast timeframe.
 

Increasing government spending to boost domestic semiconductor manufacturing will stimulate the growth for North America region

The North America semiconductor memory market captured 30% of revenue share in 2020 and is slated to expand at a CAGR of 6.5% during 2021 to 2027 driven by favorable government initiatives, such as funding and incentive schemes to regional players, to surge the domestic semiconductor manufacturing capabilities. For instance, in May 2021, the U.S. Government announced the CHIPS for America Act, through which the government will provide USD 50 billion in funding to domestic semiconductor manufacturers. Through this funding, the government aims to support regional semiconductor players with research, development, and expansion in semiconductor manufacturing facilities in the region.  
 

Companies operating in the market include Micron Technology, Inc., Western Digital Corporation, Intel Corporation, NXP Semiconductors N.V., SK Hynix, Samsung Electronics, Microchip Technology, Inc., and Cyprus Semiconductor Corporation, among others. These market leaders are proactively focusing on new product innovations and launches to cater to competitive edge in the industry.
 

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