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Memory Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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    Report

  • 250 Pages
  • July 2024
  • Region: Global
  • Fairfield Market Research
  • ID: 5986735

The global memory market is poised for significant expansion in the coming decade, driven by technological advancements and increasing demand from various sectors. Semiconductor memory products are crucial components in numerous electronic devices, including smartphones, flat-screen displays, and LED televisions. The aerospace and military sectors also heavily rely on these products. As biometric technology advances and the demand for high-tech goods such as wearable technology rises, the memory market is set to thrive. The market size is projected to reach $257.7897 billion in 2024 and $430.62 billion in 2031, growing at a CAGR of 7.60%.

Market Size and Growth Projections

The global memory market size is projected to reach a substantial value by 2024 and exhibit steady growth to surpass a significantly higher value by 2031. Over this decade, the market is expected to grow at a robust rate. Historical data shows the market experienced impressive growth, highlighting the robust demand and development in this sector.

Technological Advancements and Industry Impact

The memory industry is experiencing rapid expansion due to the increasing demand for smartphones and other high-tech products, such as wearable technology. Companies are investing in advanced memory technologies to gain a competitive edge. For instance, SK Hynix selected Keysight Technologies, Inc.'s integrated peripheral component for PCIe 5.0 test platforms, aiming to accelerate the development of memory semiconductors for cutting-edge products capable of handling enormous amounts of data and supporting high data rates.

New memory technologies have significantly enhanced the potential of memory storage, allowing for the storage of vast amounts of data at relatively low costs without relying on expensive silicon chips. These technologies are particularly popular in consumer electronic gadgets like notebooks, cell phones, and digital cameras.

Key Industry Players and Developments

United Microelectronics Corporation is a global semiconductor foundry that enables customers to integrate low-power, high-performance, and low-latency embedded MRAM memory blocks into multipoint control units and systems on chips. These advancements target the Internet of Things (IoT), wearables, and consumer electronics sectors. The company's STT-MRAM blocks are embedded and non-volatile, utilizing a complementary metal-oxide-semiconductor (CMOS) manufacturing process.

Regional Insights and Opportunities

North America is projected to create lucrative opportunities in the memory market. The region's market size was significant and is expected to reach a higher value soon. By the end of the forecast period, it is predicted to surpass an even greater value. Micron Technology Inc. developed 9400 NVMe SSD drives, capable of managing most data center workloads worldwide, with substantial data storage per SSD and better power efficiency compared to existing products. Leading companies in North America are focusing on research and development to launch high-performance memory storage devices, propelling the flash memory market in the region.

The USA memory market size is expected to reach a substantial value by the end of the forecast period, exhibiting significant growth over the decade. The country is anticipated to create a substantial absolute dollar opportunity. Micron Technology Inc. collaborated with AMD to offer high-performance computing technology, equipped with Micron DDR5 data center memory and AMD's 4th GEN EPYC processors, for applications such as weather & climate forecasting and meteorological applications.

The United Kingdom memory chip market is projected to expand at a robust rate, following significant historical growth. The market is expected to reach a considerable valuation by the end of the forecast period. Companies like Udisys offer flash memory cards, managed NAND, and industrial DRAM modules, boosting the market due to the presence of leading memory semiconductor companies in the country.

South Korea's next-generation memory market is anticipated to create a significant absolute dollar opportunity, exhibiting strong growth. Samsung Electronics Co Ltd developed the industry's first DDR5 DRAM based on 12 nm class process technology, with greater power efficiency. Such innovations are expected to push sales in South Korea.

Japan's memory industry is expected to exceed a substantial value by the end of the forecast period, with robust growth, following significant historical growth. ROHM Co Ltd has developed various memory solutions such as DRAM, EEPROM, and NOR flash memories, serving industries like automotive, industrial equipment, and PC gaming & communication.

Application Insights

Consumer Products

The consumer products segment is projected to exhibit significant growth between now and the end of the forecast period, following strong historical growth. The use of memory in gaming PCs/laptops, smartwatches, and smartphones is driving demand. For instance, Apple Inc.'s iPhone 14 features substantial RAM and A15 bionic memory, while Samsung Electronics Co Ltd offers a significant amount of RAM in its Galaxy Z Fold3 smartphones.

Key Market Players:

  • Samsung Electronics Co. Ltd
  • Micron Technology Inc.
  • SK Hynix Inc.
  • ROHM Co. Ltd.
  • STMicroelectronics NV
  • KIOXIA Corporation
  • Fujitsu Ltd.
  • Kingston Technology Co. Inc.
  • Integrated Silicon Solution Inc.
  • Etron Technology Inc.

Market Segmentation

By Type:

  • Dynamic Random Access Memory (DRAM)
  • Static Random Access Memory (SRAM)
  • NOR Flash
  • NAND Flash
  • Read-only Memory (ROM)
  • Electrically Erasable Programmable Read-only Memory (EEPROM)
  • Others

By Application:

  • Consumer Products
  • Personal Computers/Laptop
  • Smartphone/Tablet
  • Data Center
  • Automotive
  • Other Applications

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 



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Table of Contents

1. Executive Summary
1.1. Global Memory Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2024
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Price Analysis, 2019-2023
3.1. Global Average Price Analysis, by Type, US$ Per Unit, 2019-2023
3.2. Prominent Factor Affecting Memory Prices
3.3. Global Average Price Analysis, by Region, US$ Per Unit
4. Global Memory Market Outlook, 2019-2031
4.1. Global Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
4.1.1. Key Highlights
4.1.1.1. Dynamic Random Access Memory (DRAM)
4.1.1.2. Static Random Access Memory (SRAM)
4.1.1.3. NOR Flash
4.1.1.4. NAND Flash
4.1.1.5. Read-only Memory (ROM)
4.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
4.1.1.7. Others
4.2. Global Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
4.2.1. Key Highlights
4.2.1.1. Consumer Products
4.2.1.2. Personal Computers/Laptop
4.2.1.3. Smartphone/Tablet
4.2.1.4. Data Center
4.2.1.5. Automotive
4.2.1.6. Other
4.3. Global Memory Market Outlook, by Region, Value (US$ Bn) and Volume (Units), 2019-2031
4.3.1. Key Highlights
4.3.1.1. North America
4.3.1.2. Europe
4.3.1.3. Asia Pacific
4.3.1.4. Latin America
4.3.1.5. Middle East & Africa
5. North America Memory Market Outlook, 2019-2031
5.1. North America Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
5.1.1. Key Highlights
5.1.1.1. Dynamic Random Access Memory (DRAM)
5.1.1.2. Static Random Access Memory (SRAM)
5.1.1.3. NOR Flash
5.1.1.4. NAND Flash
5.1.1.5. Read-only Memory (ROM)
5.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
5.1.1.7. Others
5.2. North America Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
5.2.1. Key Highlights
5.2.1.1. Consumer Products
5.2.1.2. Personal Computers/Laptop
5.2.1.3. Smartphone/Tablet
5.2.1.4. Data Center
5.2.1.5. Automotive
5.2.1.6. Other
5.3. North America Memory Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
5.3.1. Key Highlights
5.3.1.1. U.S. Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
5.3.1.2. U.S. Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
5.3.1.3. Canada Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
5.3.1.4. Canada Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
6. Europe Memory Market Outlook, 2019-2031
6.1. Europe Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
6.1.1. Key Highlights
6.1.1.1. Dynamic Random Access Memory (DRAM)
6.1.1.2. Static Random Access Memory (SRAM)
6.1.1.3. NOR Flash
6.1.1.4. NAND Flash
6.1.1.5. Read-only Memory (ROM)
6.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
6.1.1.7. Others
6.2. Europe Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
6.2.1. Key Highlights
6.2.1.1. Consumer Products
6.2.1.2. Personal Computers/Laptop
6.2.1.3. Smartphone/Tablet
6.2.1.4. Data Center
6.2.1.5. Automotive
6.2.1.6. Other
6.2.2. Attractiveness Analysis
6.3. Europe Memory Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1. Key Highlights
6.3.1.1. Germany Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.2. Germany Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.3. U.K. Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.4. U.K. Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.5. France Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.6. France Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.7. Italy Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.8. Italy Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.9. Turkey Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.10. Turkey Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.11. Russia Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.12. Russia Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.13. Rest of Europe Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1.14. Rest of Europe Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
7. Asia Pacific Memory Market Outlook, 2019-2031
7.1. Asia Pacific Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
7.1.1. Key Highlights
7.1.1.1. Dynamic Random Access Memory (DRAM)
7.1.1.2. Static Random Access Memory (SRAM)
7.1.1.3. NOR Flash
7.1.1.4. NAND Flash
7.1.1.5. Read-only Memory (ROM)
7.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
7.1.1.7. Others
7.2. Asia Pacific Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.2.1. Key Highlights
7.2.1.1. Consumer Products
7.2.1.2. Personal Computers/Laptop
7.2.1.3. Smartphone/Tablet
7.2.1.4. Data Center
7.2.1.5. Automotive
7.2.1.6. Other
7.3. Asia Pacific Memory Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1. Key Highlights
7.3.1.1. China Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1.2. China Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1.3. Japan Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1.4. Japan Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1.5. South Korea Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1.6. South Korea Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1.7. India Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1.8. India Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1.9. Southeast Asia Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1.10. Southeast Asia Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1.11. Rest of Asia Pacific Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1.12. Rest of Asia Pacific Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
8. Latin America Memory Market Outlook, 2019-2031
8.1. Latin America Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
8.1.1. Key Highlights
8.1.1.1. Dynamic Random Access Memory (DRAM)
8.1.1.2. Static Random Access Memory (SRAM)
8.1.1.3. NOR Flash
8.1.1.4. NAND Flash
8.1.1.5. Read-only Memory (ROM)
8.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
8.1.1.7. Others
8.2. Latin America Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
8.2.1. Key Highlights
8.2.1.1. Consumer Products
8.2.1.2. Personal Computers/Laptop
8.2.1.3. Smartphone/Tablet
8.2.1.4. Data Center
8.2.1.5. Automotive
8.2.1.6. Other
8.3. Latin America Memory Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
8.3.1. Key Highlights
8.3.1.1. Brazil Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
8.3.1.2. Brazil Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
8.3.1.3. Mexico Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
8.3.1.4. Mexico Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
8.3.1.5. Argentina Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
8.3.1.6. Argentina Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
8.3.1.7. Rest of Latin America Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
8.3.1.8. Rest of Latin America Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
9. Middle East & Africa Memory Market Outlook, 2019-2031
9.1. Middle East & Africa Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
9.1.1. Key Highlights
9.1.1.1. Dynamic Random Access Memory (DRAM)
9.1.1.2. Static Random Access Memory (SRAM)
9.1.1.3. NOR Flash
9.1.1.4. NAND Flash
9.1.1.5. Read-only Memory (ROM)
9.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
9.1.1.7. Others
9.2. Middle East & Africa Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
9.2.1. Key Highlights
9.2.1.1. Consumer Products
9.2.1.2. Personal Computers/Laptop
9.2.1.3. Smartphone/Tablet
9.2.1.4. Data Center
9.2.1.5. Automotive
9.2.1.6. Other
9.3. Middle East & Africa Memory Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
9.3.1. Key Highlights
9.3.1.1. GCC Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
9.3.1.2. GCC Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
9.3.1.3. South Africa Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
9.3.1.4. South Africa Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
9.3.1.5. Egypt Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
9.3.1.6. Egypt Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
9.3.1.7. Nigeria Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
9.3.1.8. Nigeria Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
9.3.1.9. Rest of Middle East & Africa Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
9.3.1.10. Rest of Middle East & Africa Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
10. Competitive Landscape
10.1. By Application vs by Type Heatmap
10.2. Company Market Share Analysis, 2024
10.3. Competitive Dashboard
10.4. Company Profiles
10.4.1. Samsung Electronics Co. Ltd
10.4.1.1. Company Overview
10.4.1.2. Product Portfolio
10.4.1.3. Financial Overview
10.4.1.4. Business Strategies and Development
10.4.2. Micron Technology Inc.
10.4.2.1. Company Overview
10.4.2.2. Product Portfolio
10.4.2.3. Financial Overview
10.4.2.4. Business Strategies and Development
10.4.3. SK Hynix Inc.
10.4.3.1. Company Overview
10.4.3.2. Product Portfolio
10.4.3.3. Financial Overview
10.4.3.4. Business Strategies and Development
10.4.4. ROHM Co. Ltd.
10.4.4.1. Company Overview
10.4.4.2. Product Portfolio
10.4.4.3. Financial Overview
10.4.4.4. Business Strategies and Development
10.4.5. STMicroelectronics NV
10.4.5.1. Company Overview
10.4.5.2. Product Portfolio
10.4.5.3. Financial Overview
10.4.5.4. Business Strategies and Development
10.4.6. KIOXIA Corporation
10.4.6.1. Company Overview
10.4.6.2. Product Portfolio
10.4.6.3. Financial Overview
10.4.6.4. Business Strategies and Development
10.4.7. Fujitsu Ltd.
10.4.7.1. Company Overview
10.4.7.2. Product Portfolio
10.4.7.3. Financial Overview
10.4.7.4. Business Strategies and Development
10.4.8. Kingston Technology Co. Inc.
10.4.8.1. Company Overview
10.4.8.2. Product Portfolio
10.4.8.3. Financial Overview
10.4.8.4. Business Strategies and Development
10.4.9. Integrated Silicon Solution Inc.
10.4.9.1. Company Overview
10.4.9.2. Product Portfolio
10.4.9.3. Financial Overview
10.4.9.4. Business Strategies and Development
10.4.10. Etron Technology Inc.
10.4.10.1. Company Overview
10.4.10.2. Product Portfolio
10.4.10.3. Financial Overview
10.4.10.4. Business Strategies and Development

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Samsung Electronics Co. Ltd
  • Micron Technology Inc.
  • SK Hynix Inc.
  • ROHM Co. Ltd.
  • STMicroelectronics NV
  • KIOXIA Corporation
  • Fujitsu Ltd.
  • Kingston Technology Co. Inc.
  • Integrated Silicon Solution Inc.
  • Etron Technology Inc.

Methodology

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