Memory Chips Global Market Report 2024

“Memory Chips Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on memory chips market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for memory chips? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The memory chips market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Type: Volatile; Non Volatile
• 2) By Application: Laptop/PCs; Camera; Smartphone
• 3) By Sales Channel: OEM; Aftermarket
• Companies Mentioned: Samsung Group; Sony Corporation; Toshiba Corporation; SK Hynix Inc.; Micron Technology Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

A memory chip is a semiconductor chip that consists of a multitude of capacitors and transistors, capable of temporarily holding data in Random Access Memory (RAM) or permanently storing data in Read-Only Memory (ROM).

The primary types of memory chips can be classified into volatile and non-volatile categories. Volatile memory refers to computer memory that requires a continuous power supply to maintain the data it stores. In the realm of modern semiconductor volatile memory, two prevalent types are Static RAM (SRAM) and Dynamic RAM (DRAM). SRAM retains its data content as long as power is supplied and is relatively easy to interface with, but it employs six transistors per bit. Memory chips are extensively utilized in a variety of electronic devices such as laptops, PCs, cameras, and smartphones. They are typically distributed through original equipment manufacturer (OEM) channels as well as aftermarket sales channels.

The memory chip market research report is one of a series of new reports from The Business Research Company that provides memory chip market statistics, including memory chip industry global market size, regional shares, competitors with a memory chip market share, detailed memory chip market segments, market trends and opportunities, and any further data you may need to thrive in the memory chip industry. This memory chip market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The memory chips market size has grown strongly in recent years. It will grow from $92.92 billion in 2023 to $99.78 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth observed in the historical period can be attributed to several key factors, including the proliferation of personal computers, the widespread adoption of smartphones and mobile devices, the expansion of data centers, the demand for consumer electronics, and the opportunities presented by emerging markets.

The memory chips market size is expected to see strong growth in the next few years. It will grow to $130.42 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period can be attributed to several key factors, including the advancement of artificial intelligence (AI) and machine learning, the expansion of 5G networks, the proliferation of IoT and edge computing, the development of autonomous vehicles, and the emergence of quantum computing. Significant trends expected in the forecast period encompass advancements in NAND flash technology, the implementation of 3D NAND technology, the use of non-volatile memory, the adoption of custom memory solutions, and a growing focus on memory security.

The surge in mobile, tablet, and other electronic device usage, along with the escalating data consumption trend, is expected to be a primary driver for the memory chip market. The escalating sales of electronic devices like smartphones and tablets are generating an increased volume of digital content, necessitating the use of memory chips for data storage. Notably, as per the International Telecommunication Union's November 2022 report, an estimated 73% of individuals aged 10 and above are projected to have access to smartphones, marking a 7% increase from the current overall population with internet access. This heightened smartphone usage will significantly augment the need for data storage, thereby fostering growth in the memory chip market.

The expansion of consumer electronics, including laptops and tablets, is poised to significantly propel the memory chip market's growth in the forthcoming years. These household electronic devices are primarily utilized for communication, entertainment, and productivity and rely on memory chips for data storage and processing. The growing demand for higher storage capacities and faster processing speeds in these consumer electronic devices is a key driving force behind the heightened demand for memory chips. For instance, according to a February 2023 Earthweb Inc. report, Lenovo, the leading PC vendor globally, dispatched nearly 17 million laptops in the third quarter of 2022, surpassing HP's 12.71 million shipments, Dell's 12.02 million, and Apple's 5.80 million. Thus, the increasing prevalence of consumer electronics like laptops and tablets serves as a pivotal driver for the memory chip market.

The hindrance to the memory chip market's growth stems from the risk of chip corruption, leading to potential data loss. Memory chip corruption results in the loss of stored data, often caused by sudden power surges, formatting, virus attacks, or abrupt removal of the memory card from a device. Factors like rapid file shooting and deletion when the card is full, along with taking photos when the camera is on low battery, also contribute to memory card corruption and subsequent data loss. Therefore, the risk of data loss due to memory chip corruption acts as a significant constraint on market growth.

Advancements in technology are significantly shaping the memory chip market, leading to increased demand for chips capable of storing and processing data more efficiently. Researchers are developing memory chips that streamline data processing and reduce the time and energy required for data transfer, consequently enhancing processor speeds. Samsung Electronics, for instance, introduced the mass production of fifth-generation V-NAND memory chips known for their faster data transfer and an impressive write speed of 500 microseconds (μs), marking a 30% improvement over the previous generation. This enhancement in write speed, along with significantly reduced read-time to 50μs, reflects the impact of technological progress in expediting data transfer and conserving energy, thereby fueling market growth.

Major players within the memory chip market are directing their efforts towards innovative technologies, such as NAND flash technology, to better cater to their consumer base. NAND flash is a non-volatile memory technology known for its superior storage density and enhanced performance compared to standard NAND flash memory. Notably, Samsung Semiconductor Inc., in December 2022, launched the 8th generation (V8) of V-NAND, leveraging the technology's vertical construction that stacks memory cells in multiple layers, thereby amplifying storage capacity without increasing the chip's footprint. This technology is crucial in addressing demands in sectors like AI, self-driving cars, 5G, and cloud computing, which require increased productivity and performance. V-NAND's ability to balance power consumption and quality significantly influences its adoption in the market.

In August 2021, Analog Devices Inc., a prominent US-based player in memory chip and semiconductor manufacturing, completed the acquisition of Maxim Integrated Products Inc. The undisclosed acquisition bolstered Analog Devices Inc.'s position as a leading analog semiconductor company, furthering its goal to bridge the gap between digital and physical worlds. The acquisition synergizes the strengths of both companies, with a shared commitment to addressing complex challenges for their customers. By combining their technologies and workforce, the unified entity is well-positioned to provide more comprehensive and innovative solutions. Maxim Integrated Products Inc., also based in the US, specializes in memory chips and integrated circuits.

Major companies operating in the memory chips market include Samsung Group, Sony Corporation, Toshiba Corporation, SK Hynix Inc., Micron Technology Inc., Intel Corporation, Transcend Information Inc., Fujitsu Microelectronics Inc., NXP Semiconductors N.V., Broadcom Inc., Qualcomm Incorporated, Texas Instruments Incorporated, Western Digital Corporation, Taiwan Semiconductor Manufacturing Company Limited (TSMC), Texas Instruments Incorporated (TI), MediaTek Inc., Avago Technologies, Renesas Electronics Corporation, Western Digital Corporation, Nanya Technology Corporation, Macronix International Co. Ltd., Winbond Electronics Corporation, Cypress Semiconductor Corporation, STMicroelectronics N.V., Infineon Technologies AG, ON Semiconductor Corporation, Integrated Silicon Solution Inc., Silicon Motion Technology Corporation, Powerchip Technology Corporation, United Microelectronics Corporation, Vanguard International Semiconductor Corporation, Advanced Micro Devices Inc., IBM Corporation, Micronas Semiconductor Holding AG, National Semiconductor Corporation, NEC Corporation, NVIDIA Corporation, Xilinx Inc.

Asia-Pacific was the largest region in the memory chip market in 2023. North America was the second-largest region in the memory chip market. The regions covered in the memory chips market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the memory chips market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The memory chip market consists of sales of static random-access memory (SRAM), dynamic random-access memory (DRAM), Programmable ROM (PROM), NAND Flash, and other memory chips. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.