Next-Generation Memory Market Growth Factors, Developments Strategy 2022
Posted by sneha patil on February 1st, 2021
The global next-generation memory market and its growth depend on many factors significantly, which is expecting growth at ~45% CAGR during the forecast period (2016-2022), reveals Market Research Future (MRFR). Also, during this growth course, the market might gather a valuation of USD ~8 billion.
Top Impacting Factors
The next-generation memory market is likely to gain momentum in support of the factors such as mounting demand for high scalable as well as fast and economical memory solutions. With rising data, there is an increasing necessitate to manage and store the data and information for future references. The market players are actively aiming to provide power conservation technologies along with improved efficiency in the next generation memory market, which could lead to its market in the forecast period.
More factors such as diminishing profit margins for traditional memory technologies are also anticipated to be a key factor for the development of Next-Generation Memory Market, and that could provide faster and efficient storage methods. In fact, the growing demand for mass storage and universal storage devices is also in line to favor market growth over the assessment period. With this, MRFR also files that rising demand in various applications such as industrial and replacement of flash memory may offer new opportunities for market growth over the forecast period. Also, mounting demand for flexible and wearable electronics may provide new avenues for market growth in the coming years.
Furthermore, more factors such as intrinsic benefit with non-volatile memories, technological advancements for storage, high growth in the wearable electronics industry, rising adoption of MRAM & PCM memory rise in the practice of next-generation memory in smartphones, and enterprise storage also motivate the market growth over the forecast period. On the contrary, some other factors, such as soaring designing cost and stability in extreme environmental conditions, could hinder market growth over the next six years. In addition to this, low write endurance rates may act as a restraint to the next generation memory market.
The well-known players in the global next-generation memory market include SK Hynix Semiconductor, Inc. (South Korea), Toshiba Corporation (Japan), Fujitsu Ltd. (Japan), Adesto Technologies Corporation, Inc. (U.S.), SanDisk Corporation (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), and Samsung Electronics Co., Ltd. (South Korea).
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Segmentation of Market
The global next-generation memory market is studied for the segments of product and application.
In terms of product segment, the market has included non-volatile memories and volatile memories. Under this, several segments are also included, such as Phase Change Memory (PCM), Resistive Random Access Memory (Re RAM), Magneto-Resistive Random Access Memory (MRAM) and Ferroelectric RAM (FeRAM). Under Volatile Memories, the segments included Static Random Access Memory (SRAM) and Dynamic Random Access Memory (DRAM).
In terms of application, the market has included consumer electronics, manufacturing, IT, and telecommunication, as well as aerospace and defense.
Regionally, North America acquired the largest next-generation memory market share, significantly owing to elevated investments for technologically advanced products and escalating adoption of DRAM, MRAM, and PCM memory. North American has been one of the advance adopters of next-generation technologies and infrastructure. The IT industry extensively motivates the economy in the United States. The swiftly varying technologies and high data generation in many industries are creating a need for more competent processing systems are some more factors driving the demand for next-generation memory market in the region. In the case of point, Intel started phases of a new fabrication plant in Arizona for manufacturing next-generation memory and storage solutions. Therefore, for this project, the company spent USD 1 billion out of the total cost of USD 7 billion.
Asia-Pacific is anticipated to inflate over the forecast period, 2017-2022, considerably owing to rising demand for smartphones and tablets and manufacturing hub for wearable electronics.
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About the Authorsneha patil
Joined: December 28th, 2020
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