As the world grapples with the novel coronavirus outbreak that has shaken the world, the global next-generation memory market 2020 is doing its part to fight the outrage. The year is an extremely eventful year for global next-generation memory due to COVID 19; the market is screening some positive instincts when studied by Market Research Future. As per the study presented by MRFR, the global market has the probable to show enormous growth, which is recorded at ~45% CAGR. At this pace, the market would reach USD ~8 billion valuations from the years of 2016 and 2022 (forecast period).
Top Impacting Factors
Some of the significant factors that are fuelling to the growth of the Next-Generation Memory market include rising penetration of IoT technology, swiftly expanding technology development coupled with humongous production of data, and demand for universal memory devices across the globe. The promising non-volatile memory technologies, such as STT-RAM, MRAM, phase-change memory (PCM), FRAM, and density of DRAM, ReRAM combine the speed of SRAM and the non-volatility of flash memory. Hence, these are possible additions to future memory technologies.
MRFR also identifies that the adoption of next-generation infotainment systems and ADAS would be fusing the DRAM memory technologies that would have much-advanced performance and low power consumption capabilities. In fact, the rising demand for enterprise storage applications is motivating the Next-Generation Memory Market. The end-user industries, like BFSI, are investing heavily in IoT technologies and reaping significant financial rewards. In the case of points, entrenched MRAM is considered as a capable technology for applications. Also, the more next-generation memories, such as 3D Xpoint, provide 1,000 times faster transfer speeds than the existing SSDs. Hence, these factors have driven the next-generation memory market efficiently and would continue for the forecast period as well.
Furthermore, some other factors, such as the rapidly expanding technology development coupled with humongous production of data, have critically surged the demand for memories. It has also been studied, the next-generation memory is something that fits into almost all these demands of end-users. These types of memory technology cater to relatively exclusive advantages to the industry players as they use less power and operate faster than the existing memory technologies. Therefore, with so many advancements, next-generation memory has taken a prime space in the memory market by mooning over other traditional memory technologies.
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 next-generation memory market has included consumer electronics, manufacturing, IT, and telecommunication, as well as aerospace and defense.
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Regionally, North America acquired the largest 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.
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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