Next Generation Non-Volatile Memory Market Growth & Trends
The global next generation non-volatile memory market size is expected to reach USD 18.23 billion by 2030 and is projected to grow at a CAGR of 17.8% from 2024 to 2030. Increasing need for fast and economical storage solutions across diverse applications is estimated to drive industry growth over the forecast period.Next Generation Non Volatile Memory is used for various applications such as enterprise, industrial and automotive to store and manage information, which is expected to augment market growth over the next six years. Increasing use of Next Generation Non Volatile Memory in mobile phones to enhance customer experience is expected to fuel market growth.
The increasing demand for wearable electronics and replacement of flash memory storage may provide new growth avenues to the Next Generation Non Volatile Memory industry. Low environment stability and high design cost may act as a restraint to market growth over the forecast period.
All common computing platforms from handheld devices to supercomputers use storage systems to store data permanently or temporarily. Smart cards store a few bytes of data and are expected to grow at a significant rate over the forecast period. Economical and efficient solution development is expected to be a critical success factor for industry players.
The Asia Pacific market is expected to grow at a considerable rate owing to increasing demand for smartphones and tablets. Additionally, presence of key market players in countries such as China, India, Japan and South Korea is also expected to positively impact the regional market over the forecast period.
Next Generation Non-Volatile Memory Market Report Highlights
- In 2023, high-bandwidth memory (HBM) segment emerged as the market leader, capturing the largest revenue share of 59.1% owing to the growing need for high band-with, low power consumption and adoption of emerging technologies like AI & big data analytics and rising trend of consumer electronic devices.
- BFSI accounted for the largest market revenue share of 23.1% in 2023. The BFSI sector extensively leverages IoT and AI technologies to achieve substantial benefits.
- The next generation non volatile memory market in North America is projected to witness the fastest CAGR of 18.9% during the forecast period, driven by factors the increasing construction of new infrastructures like data centers and the rapid growth of the digital economy in countries such as the U.S. and Canada.
- In 2023, Asia Pacific next generation nonvolatile memory market emerged as the leader in the market, capturing a significant revenue share of 49.20%, driven by factors inherent in its dynamic business environment.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Next Generation Non-Volatile Memory Market Variables, Trends, & Scope
Chapter 4. Next Generation Non-Volatile Memory Market: Product Estimates & Trend Analysis
Chapter 5. Next Generation Non-Volatile Memory Market: Wafer Size Estimates & Trend Analysis
Chapter 6. Next Generation Non-Volatile Memory Market: Application Estimates & Trend Analysis
Chapter 7. Next Generation Non-Volatile Memory Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
- Samsung Electronics Co. Ltd
- Micron Technology, Inc.
- Rohm Co. Ltd
- Toshiba Electronic Devices & Storage Corporation
- Western Digital Technologies, Inc.
- Honeywell International Inc.
- Crossbar Inc.
- Fujitsu Ltd.
- Japan Semiconductor Corporation
- HDD Manufacturers
Methodology
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