Second Generation Memory Market Expected To Hit USD 80.54 Billion By 2022

By WPG AmericasApril 19, 2016

Aimed at addressing issues like scalability and power consumption, the second generation memory market is ready to steer the storage technology to the next level. Clearly stealing the show, with revolutionary non-volatile memory technologies like MRAM, FRAM, 3D NAND, NVDIMM, ReRAM, 3D Xpoint and NRAM, the next best thing in the memory market is all set to be a game changer.

The surging growth rate of non-volatile memory market, across all consumer and enterprise storage segments, is being fueled by the booming smart phone industry and growing number of data centers all over the world. The increasing growth rate of non-volatile memory applications is supported by the growing demand for devices capable of catering to high-speed, longer data retention capacity, high scalability and low-power consumption. At an estimated CAGR of 9.93% between 2016 and 2022, as stated in the new market research report, the non-volatile memory market is expected to hit USD 80.54 billion by 2022.

Potential Growth Rate of 3D NAND Memory Based Products Keeps Impressing the Market

A key factor, that drives the growth of 3D NAND memory based products, is its efficiency in solving issues like the scaling limitation problem. The technology is expected to be adopted widely by consumer electronics products, such as smart phone, tablet, PCs, laptops and digital cameras. Eventually, in the coming years, it is inevitable that the currently used NAND memory technology, will be replaced by the 3D NAND memory based products.

Business Forecast For APAC in the Non-Volatile Memory Market Is Highly Promising

The burgeoning demand for high performance and low-cost memory devices, in APAC, is being propelled by the robust growth in manufacturing sectors like consumer electronics and automobiles, in this region. The strong growth rate of non-volatile memory market in this region, is also due to the fact that APAC has been and continues to be the most cost-effective production hub for consumer electronics. APAC, with its combined force of strong manufacturing activities and low production cost, promises to dominate the non-volatile memory market share, with an incredible estimated growth rate between 2016 and 2022.

The Key Players

Ready to take the plunge in the pool of emerging opportunities, as mentioned in the new research report, are companies like Samsung Electronics Co., Ltd. (South Korea) Toshiba Corporation (Japan), SK Hynix Semiconductor, Inc. (South Korea), Micron Technology, Inc. (U.S.), Intel Corporation (U.S.), SanDisk Corporation (U.S.), Adesto Technologies Corporation, Inc. (U.S.), Fujitsu Ltd. (Japan), Viking Technology (U.S.), Crossbar Inc. (U.S.), Everspin Technologies Inc. (U.S.), and Nantero, Inc.(U.S.).