The Latin America, Middle East and Africa Next Generation Non-Volatile Memory Market would witness market growth of 20.4% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Next Generation Non-Volatile Memory Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $382.7 million by 2031. The Argentina market is experiencing CAGR of 21% during 2024-2031. Additionally, the UAE market would register a CAGR of 18.9% during 2024-2031.
As manufacturing processes for next generation NVMs, such as 3D NAND, advance, production costs have decreased. This cost reduction increases the accessibility of advanced NVM technologies to a broader spectrum of industries and applications. The growing production scale and increased market competition contribute to cost reductions, making NVM technologies more economically viable for consumers and businesses.
Likewise, the exponential growth in data generation across industries drives the demand for high-capacity and high-speed memory solutions. Next generation NVMs can meet these demands with superior storage capacities and access speeds. The proliferation of smart devices, including IoT applications and wearables, has increased the need for efficient and reliable memory solutions. NVMs are adopted in these devices to manage data storage and ensure seamless operation.
The rise of IoT in healthcare, including telemedicine and remote patient monitoring, creates a need for secure and efficient data storage. Next generation NVM supports these healthcare innovations by providing fast and reliable memory for managing patient data. Saudi Arabia’s efforts to modernize its agricultural sector through IoT-driven smart farming require advanced memory solutions. Next generation NVM plays a crucial role in storing and analyzing data from sensors and devices used in precision agriculture. In conclusion, the rising IoT industry and expansion of the fintech sector in the region are driving the market's growth.
The Brazil market dominated the LAMEA Next Generation Non-Volatile Memory Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $382.7 million by 2031. The Argentina market is experiencing CAGR of 21% during 2024-2031. Additionally, the UAE market would register a CAGR of 18.9% during 2024-2031.
As manufacturing processes for next generation NVMs, such as 3D NAND, advance, production costs have decreased. This cost reduction increases the accessibility of advanced NVM technologies to a broader spectrum of industries and applications. The growing production scale and increased market competition contribute to cost reductions, making NVM technologies more economically viable for consumers and businesses.
Likewise, the exponential growth in data generation across industries drives the demand for high-capacity and high-speed memory solutions. Next generation NVMs can meet these demands with superior storage capacities and access speeds. The proliferation of smart devices, including IoT applications and wearables, has increased the need for efficient and reliable memory solutions. NVMs are adopted in these devices to manage data storage and ensure seamless operation.
The rise of IoT in healthcare, including telemedicine and remote patient monitoring, creates a need for secure and efficient data storage. Next generation NVM supports these healthcare innovations by providing fast and reliable memory for managing patient data. Saudi Arabia’s efforts to modernize its agricultural sector through IoT-driven smart farming require advanced memory solutions. Next generation NVM plays a crucial role in storing and analyzing data from sensors and devices used in precision agriculture. In conclusion, the rising IoT industry and expansion of the fintech sector in the region are driving the market's growth.
List of Key Companies Profiled
- Samsung Electronics Co. Ltd
- Micron Technology, Inc.
- Fujitsu Limited
- Honeywell International, Inc.
- Infineon Technologies AG
- ROHM Co., Ltd.
- Toshiba International Corporation
- Intel Corporation
- Kingston Technology Company, Inc.
- Kioxia Holdings Corporation
Market Report Segmentation
By Type
- High-bandwidth Memory (HBM)
- Hybrid Memory Cube (HMC)
By Wafer Size
- 300 mm
- 200 mm
By Application
- BFSI
- Information Technology
- Consumer Electronics
- Telecommunications
- Government
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Next Generation Non-Volatile Memory Market by Type
Chapter 6. LAMEA Next Generation Non-Volatile Memory Market by Wafer Size
Chapter 7. LAMEA Next Generation Non-Volatile Memory Market by Application
Chapter 8. LAMEA Next Generation Non-Volatile Memory Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Samsung Electronics Co. Ltd
- Micron Technology, Inc.
- Fujitsu Limited
- Honeywell International, Inc.
- Infineon Technologies AG
- ROHM Co., Ltd.
- Toshiba International Corporation
- Intel Corporation
- Kingston Technology Company, Inc.
- Kioxia Holdings Corporation
Methodology
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