Semiconductor Memory Market size is anticipated to exceed USD 340 billion by 2032, according to the latest research report by Global Market Insights Inc.
The rising demand for electronic and consumer products such as laptops, smartphones, and tablets, is expected to fuel industry expansion. Furthermore, SSDs are gaining popularity among electronics manufacturers to fulfill the demand for modern electronics. These factors contribute to the increasing need for NAND Flash memory components, which are mostly employed in SSDs, hence driving the semiconductor memory market. Furthermore, the extensive use of semiconductor memory in sophisticated automotive applications is likely to enhance the business returns by 2032.
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Growing adoption of semiconductors in the automotive sector to boost RAM segment revenue
The random access memory (RAM) segment held over 60% of the semiconductor memory market share in 2022 and is speculated to grow considerably during 2023-2032. The growing espousal of semiconductors in automotive and electronic systems, such as SRAM, DRAM and MRAM, is accelerating the demand for integrated devices and memory chips. The digital evolution across the semiconductor industry and the implementation of memory-based components in technologically advanced products are creating massive development potential for the semiconductor memory business.
Increasing demand from the electronics and communication sectors to favor SRAM market
The SRAM semiconductor memory industry is set to generate more than USD 900 million in revenue by 2032 due to rising demand from electronics, computer, and communication applications, as well as the development of revolutionary SRAM technologies.
Browse key industry insights spread across 240 pages with 298 market data tables and 38 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:
Rapid development of data centers to fuel product uptake for telecom applications
The telecommunications industry is forecasted to grow at over 8% CAGR through 2032 resulting from the mounting product applications backed by the rapid deployment of data centers worldwide. The need for data centers to manage massive amounts of data and information is growing in the IT and telecom industries. The growing number of sophisticated data center infrastructures that have large memory requirements is also anticipated to bolster the need for efficient memory solutions like DRAM and 3D NAND Flash, which is foreseen to support market development.
Massive investments for the progress of the semiconductor sector in Europe
The Europe semiconductor memory market is speculated to observe 5% growth between 2023 and 2032. Prominent government policies and funding to promote R&D projects in the semiconductor industry are helping stabilize and witness lucrative prospects for the UK semiconductor memory business. Leading businesses in several industries, including telecommunications, consumer electronics, and automotive, are making massive investments in integrating AI into their products, which is a key factor impelling regional revenues.
Strategic partnerships to define the competitive landscape of the industry
Samsung Electronics Co., Ltd., SK Hynix, Inc., Micron Technology, Fujitsu Limited, Kioxia Corporation, Winbond Electronics Corporation, and Western Digital Corporation are some of the leading enterprises operating in the market for semiconductor memory. These businesses frequently engage in strategic projects to increase their revenue shares, such as collaborations and service portfolio expansions. For instance, in March 2022, semiconductor manufacturer Infineon Technologies AG and electronics company Winbond Corporation collaborated on developing the bandwidth of IoT applications with the new product, HYPERRAM 3.0.