Next-Generation Memory Market Estimated to Reach USD 14 Billion, at a CAGR of 29.9% by 2030 – Report by Market Research Future (MRFR)
Next Generation Memory Technologies to Address Gaps in Today’s Storage Hierarchy
New York, US, June 03, 2022 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Next-Generation Memory Market” information by Product, by Application and Region – Forecast to 2030” market size to reach USD 14 billion, growing at a compound annual growth rate of 29.9% by 2030.
Market Scope:
Over the past few years, next-generation memory has evolved extensively due to rising uses in small, niche appliances led by its low switching energy, non-volatility, and low power consumption. Next-generation memory is becoming critical for many applications as it needs a very small amount of energy for polarization compared to other technologies.
Report Scope:
| Report Attribute/Metric | Details |
| Market Size | USD 14 billion |
| CAGR | 29.9% |
| Base Year | 2020 |
| Forecast Period | 2021 – 2030 |
| Historical Data | 2019 |
| Forecast Units | Value USD billion |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, Application |
| Geographies Covered | North American, European, Asian Pacific |
| Key Vendors | Micron Technology, Inc., Toshiba Corporation (Japan), Intel Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), IBM Corporation (U.S.) |
| Key Market Opportunities | This increasing demand is responsible for pushing the next-generation storage services and devices on a great scale. |
| Key Market Drivers | The next-generation memory market industry has end-users like BFSI that are increasing their investment quantum in the Internet of Things (IoT) technology, as well as, reaping the financial rewards. |
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Storage and memory have become foundational pillars of today’s digital-first economy. This trend is projected to continue through 2022 and years ahead, witnessing robust demand for storage and memory technologies. Increasing developments of next-generation memory technologies to address gaps in today’s storage hierarchy and needs for real-time data processing influence the market landscape.
For so many years, the automotive industry has been looking for a breakthrough memory solution with the same attributes as DRAM and flash and could transform memory space. MRAM, PCM, and ReRAM technologies have emerged as these solutions to meet the market demand. STT-MRAM features the speed of SRAM and the non-volatility of flash with unlimited endurance.
Market USP Exclusively Encompassed:
Market Drivers
Over recent years, several next-generation memory types have been seen emerging rapidly. There are still many research activities in the pipeline working on ramping product launches. Moreover, increasing R&D funding required for extensions of new memory technologies and advances in MRAM, phase-change memory (PCM) and ReRAM are shaping market dynamics.
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Some new memories are entirely based on advanced technologies/ involve architectural changes, such as near-or in-memory computing, bringing processing tasks inside of memory. Additionally, increasing R&D investments are poured into developing a solution helpful in overcoming several technical and business hurdles. Some of them are potentially targeted to replace new age DRAM, NAND, and SRAM.
Furthermore, efforts in pushing the development of 3D SRAM that stacks SRAM and can replace planar SRAM in the future are likely to influence the market scenario. Also, there are vast improvements in new memory types with new materials, storage concepts, and materials technology. This indicates significant potential challenges in the material and structural characterization.
Segmentation of Market Covered in the Research:
The next-generation memory market is segmented into products, applications, and regions. The product segment comprises volatile memories (static random access memory (SRAM), dynamic random access memory (DRAM), others) and non-volatile memories (PCM, FeRAM, MRAM, RE RAM, others).
The application segment comprises consumer electronics (mobile phones, smartphones, laptops, iPods, tablets, others), manufacturing, IT & telecommunication, aerospace & defense, etc. The region segment comprises the Asia Pacific, Middle East & Africa, North America, Europe, and rest-of-the-world.
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Regional Analysis
North America dominates the global next-generation memory market. Factors such as increased investments in technology developments and wide adoption of PCM memory, MRAM, and DRAM, among end-users, drive the region’s market shares. Besides, the presence of several notable players and the technical expertise drive the regional market growth. The introduction of innovative memory and storage solutions developed using disruptive technologies, such as AI, ML, and IoT, to cater to autonomous vehicle manufacturing companies boost the market size.
Europe is the second-largest market for next-generation memories. The rising demand for next-generation memory in various end-use applications and the adoption of next-generation memory devices in data centers for cloud computing applications to gain scalability and improve the memory capacity escalate the market value. Additionally, the growing IT industry and high deployments of cloud computing technologies in SMEs & large enterprises in the region push market revenues.
APAC has emerged as a rapidly growing market for next-generation memory solutions. The spurring rise in the financial and healthcare sectors and the increasing uptake of on-premises and on-cloud database infrastructures fosters regional market growth. Furthermore, the rising numbers of data centers and cloud servers in the region boost the size of the market.
With the growing investments in efficient next-generation memory technology, the APAC next-generation memory market is likely to create a substantial revenue pocket during the assessment period. Also, the rising trend of outsourcing services in real-time intelligence and the advanced predictive analytics on different applications propel the region’s market shares.
Competitive Analysis
The next-generation memory market witnesses significant strategic initiatives, such as collaboration, mergers & acquisitions, expansion, and advanced technology integration. Matured industry players make strategic investments in driving research and development activities and expansion plans. The market witnesses several innovative product launches and related technology launch each year.
Dominant Key Players on Next-Generation Memory Market Covered are:
- Micron Technology Inc. (US)
- Toshiba Corporation (Japan)
- Intel Corporation (US)
- Samsung Electronics Co. Ltd. (South Korea)
- IBM Corporation (US)
- SK Hynix Semiconducto Inc. (South Korea)
- SanDisk Corporation (US)
- Adesto Technologies Corporation Inc. (US)
- Fujitsu Ltd. (Japan)
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For instance, on April 14, 2022, Keysight Technologies, Inc., a leading technology company, announced a funding deal with SK Hynix to enable speed semiconductor memory technology development. SK Hynix can use integrated peripheral component interconnect express (PCIe) 5.0 test platforms by Keysight to speed the development of memory semiconductors used to design advanced solutions capable of supporting high data speeds and managing massive data.
Keysight delivers advanced design and validation solutions to help accelerate innovation to connect and secure the world. Keysight’s integrated PCIe test solutions are used by leading memory chip makers to validate Compute Express Link (CXL) technology. Keysight’s PCIe test platforms enable SK Hynix to validate the performance of bandwidth memory expansion modules deployed in many Industry 4.0 applications.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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