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Semiconductor Memory Market Size to Worth Around US$ 134.95 Bn by 2027

Precedence Research
·5 min read

According to Precedence Research, the global semiconductor memory market size is projected to be worth around US$ 134.95 billion by 2027, growing with a CAGR of 6.1%.

OTTAWA, March 03, 2021 (GLOBE NEWSWIRE) -- The global semiconductor memory market size was estimated at more than US$ 90 billion in 2019. Semiconductor memory refers to an electronic device that is used as a computer memory in which IC (Integrated Circuit) technology is used for maintaining the digital information. Moreover, on the basis of the type of data access and data storage these memories are classified intonon-volatile ROM (Read Only Memory) and volatile RAM (Random Access Memory).

Growth Factors

Rising integration of Internet of Things (IoT) into automotive, consumer electronics and industrial application along with increasing acceptance of IoT across these industries drives the semiconductor memory market. Implementation of IoT and smart electronic devices improves the production and manufacturing capacity along with reducing the overall cost of the product. Further, the integration of numerous technologies such as Artificial Intelligence (AI), IoT, and Big Data the devices need high operating speed and capacity, thereby fuelling the demand for semiconductor memory devices in the coming years. Presently, consumer trend has also shifted from the traditional electronic products towards smart and advanced products that again flourish the overall market growth.

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Report Highlights

  • The Asia Pacific led the global semiconductor memory market with more than 45% of market value share in the year 2019. This is attributed to the increasing data center investments in countries such as Singapore, India, and Indonesia, thus create prominent demand for semiconductor memory in the region.

  • North America seeks to be the most opportunistic region during the forecast period, followed by Europe. Rising investment for research & development activities by the companies along with the significant presence of major market players that are dedicated towards the development of new technologies propel the growth of the region significantly.

  • The Dynamic Random Access Memory (DRAM) segment captured the major market revenue share of more than 45%. The growth is attributed to the increasing computing capabilities with the implementation of Artificial Intelligence (AI) in laptops, smartwatches, and smartphones that require compatible memory solutions.

  • By application, consumer electronics dominated the global semiconductor memory market and accounted for nearly 35% of market value share in the year 2019. The segment anticipated to offer alluring growth opportunities for all the market players involved in the value chain on the account of rising application of semiconductor memory in wearable devices, smartphones, and tablets across the globe.

  • The automotive application anticipated to register considerable growth rate over the analysis period. The growth of the segment is attributed to the rising adoption of advanced safety systems in automobiles such as advanced driver-assistance systems (ADAS), lighting, airbags, and breaking that use large amount of sensors and Engine Control Units (ECUs).

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Regional Snapshots

In 2019, the Asia Pacific accounted for the highest market value share with more than 45% in the global semiconductor memory market. This is impelled by the increasing production consumer electronics and memory solutions in India, China, and South Korea. Further, several companies are operating in the region that include Samsung, SK Hynix, Nanya Technologies, Inc., Toshiba Corporation, and many more that focus mainly on the product innovation and development. In addition, increasing investment in data center in Asian countries such as Singapore, India, and Indonesia are expected to create alluring growth opportunity for the semiconductor memory market in the region. For instance, in September 2017, Amazon.com Inc. invested USD 924 Million in Indonesia for data center facilities over the coming ten years. The company also planned to introduce its cloud computing unit in the Indonesian market.

Besides this, North America seeks to be the most lucrative region in the global semiconductor memory market over the forecast period. Integration of advanced electronic devices in the automotive sector along with rising investment in research & development are the major factors attributed towards the growth of the region.

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Key Players & Strategies

The global semiconductor memory market is highly competitive due to the presence of major market players and their strong distribution channel. These market players are mainly focused towards merger & acquisition, and partnership strategies to enhance their product portfolio and upgrade their market position. For instance, in May 2016, Western Digital acquired SanDisk Corporation to expand its product portfolio especially in semiconductor industry. Similarly, in August 2019, Macronix International Co., Ltd. introduced ArmorFlash memory on the artificial intelligence (AI) based Advanced Driver Assistance System (ADAS) that include DRIVE AGX Pegasus and NVIDIA DRIVE AGX Xavier for NVIDIA Corporation.

Some of the key players operating in the market areMicron Technology, Integrated Silicon Solution Inc., Cypress Semiconductor Corporation, Samsung Electronics, Macronix International Co., Ltd., Taiwan Semiconductor, SK Hynix, Toshiba Corp., Texas Instruments, and IBM Corporation among others.

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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