Semiconductor Memory Market to Grow at a CAGR of 7.02% Until 2026

According to TechSci Research report, “Global Semiconductor Memory Market By Type (Volatile and Non-Volatile), By Volatile Type (DRAM, SRAM, SDRAM and MRAM), By Non-Volatile Type (PROM, EPROM, EEPROM and Flash Memory), By Application (Consumer Electronics, IT & Telecommunications, Automotive, Medical Devices, Aerospace & Defence and Others), By Region, Competition, Forecast & Opportunities, 2016-2026’’, the global semiconductor memory market is projected to cross USD167.08 billion by 2026 at a CAGR of 7.02% on account of the growing demand for Solid State Devices (SSDs) for faster storage applications in new generation computers with new memory product launches. Moreover, the need for high storage capabilities in semiconductor chips used by different companies will positively influence the global semiconductor memory market in the upcoming years.

The global semiconductor memory market can be segmented based on type, volatile type, non-volatile type, application and region. In terms of type, the market can be divided into volatile and non-volatile. The non-volatile segment has a market share of 50.61% in 2020 due to the high demand for permanent storages in the electronics, healthcare, defense, security and telecommunication sectors within the growing economies. The increase in the demand for high storage capability with no impact on system’s performance drives the non-volatile segment of the global semiconductor memory market.

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On the basis of volatile type, the market is split up into DRAM, SRAM, SDRAM and MRAM. The DRAM segment has 35.34% of the market shares in 2020 owing to its data integrity and storage longevity. This volatile memory system can be designed using the most common technologies available, thus positively shaping their growth in the global semiconductor memory market.

On the basis of non-volatile type, the market is branched into PROM, EPROM, EEPROM and Flash Memory. The PROM segment has 35.23% of the market shares in 2020 owing to its program storing proficiency into the chip without further modifying or erasing. This increase is due to the high storage endurance and inexpensive cost.

Based on application, the market can be bifurcated into Consumer Electronics, IT & Telecommunications, Automotive, Medical Devices, Aerospace & Defence and others (Industrial, Smart Cards, Mp3 Players, etc.). The consumer electronics segment accounts for the largest market share of 30.54% due to the increase in demand for the production of electronics with high storage and fast speed.

In the global semiconductor memory market, Asia-Pacific is the largest contributor with 35.56% of market shares in 2020. South Korea is the largest contributing country in the region for the forecast period, followed by China, India, Taiwan and Japan. Being the world’s largest semiconductor memory manufacturer and exporter, South Korea’s growing urbanization and research technologies are contributing to the country’s leading market position. Meanwhile, India is at third position after China in terms of manufacturing semiconductor memories and is growing at a quicker pace as the research and development sectors are emerging in the upcoming years.  

Samsung Electronics Co., Ltd., Taiwan Semiconductor Manufacturing Company Limited, Micron Technology Inc., SK Hynix, Intel Corporation, Broadcom Inc., Qualcomm Inc., Toshiba Corporation, Texas Instruments Inc., Nvidia Corporation, etc. are among the leading players operating in the global semiconductor memory market. Companies operating in the market are using organic strategies, partnerships and collaborations to boost their shares in the global semiconductor memory market. Significant players in the market are concentrating on accomplishing ideal operational expenses, upgrading the system capacity, enhancing accuracy in responses, boosting productivity with high funding in R&D, and boosting performance to support the competitive semiconductor memory market.

“Ongoing technological advancements and innovations for the microcomputer-based systems across the globe are boosting the global semiconductor memory market in the forecast years. The need for manufacturing more volatile memories with the rise in RAM utilization in electronics and automobile sectors with an increase in the requirement for wearable devices are boosting the market globally. Moreover, growing innovation in the design of semiconductor memory systems has also been positively influencing the market with a continuous urge for launching new products in the upcoming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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“Global Semiconductor Memory Market By Type (Volatile and Non-Volatile), By Volatile Type (DRAM, SRAM, SDRAM and MRAM), By Non-Volatile Type (PROM, EPROM, EEPROM and Flash Memory), By Application (Consumer Electronics, IT & Telecommunications, Automotive, Medical Devices, Aerospace & Defence and Others), By Region, Competition, Forecast & Opportunities, 2016-2026’’ has evaluated the future growth potential of the global semiconductor memory market by providing the statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global semiconductor memory market.

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