Semiconductor Memory Market to Set Phenomenal Growth from 2021 to 2027
According to GMI, Inc., forecast, global semiconductor memory market size is expected to exceed US$180 billion by 2027. The growing incorporation of memory and storage components in consumer and automotive electronics and in various healthcare devices is expected to boost semiconductor memory industry expansion over the upcoming years. According to the Consumer Technical Association (CTA), the retail revenue of the U.S. consumer technology, which includes, electronics products, along with emerging technologies and streaming services, was approximately US$422 billion in 2020.
Semiconductor memory devices play a crucial role in enhancing the data storing and rendering capabilities of modern electronics and provide designated services to customers. Pulse oximeters monitor, continuous temperature monitors, heart rate monitors, and glucose monitors are some intelligent point-of-care devices that store real-time diagnostic data for further references and procedures.
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The significant advancement in medical science and the advent of sophisticated healthcare equipment is further slated to provide lucrative growth opportunities to the semiconductor memory market.
High integration of MRAM and semiconductor memory chipsets in electronics
The magneto-resistive random-access memory (MRAM) segment is predicted to witness 15% CAGR in the coming years. Faster read/write cycles, low power consumption, and durability are some key advantages of MRAM devices, that complement their integration in modern electronics. These devices are based on non-volatile memory technology which is used for long-term persistent storage.
Prominent industry players are focusing on introducing MRAM chipset for consumer electronics applications to stay ahead in the competitive market landscape. For instance, Samsung Electronics, in March 2019, introduced the industry’s first eMRAM that was based on 28FDS process technology. The latest eMARM exhibits superior performance and endurance as compared with eFlash memory and has key applications in embedded systems.
The industrial application segment held over 10% of global semiconductor memory market share in 2020. Semiconductor memory chipsets are witnessing strong demand in numerous industrial components such as, human-machine interface (HMI), programmable logic controllers (PLC), gateway devices, and industrial PCs.
Moreover, the applicability of robotics, IoT devices, and automation equipment has increased in recent times, with the growth of smart factories in developed regions, like Germany, South Korea, China, and the U.S. This will shoot up semiconductor memory demand across industrial verticals in the forthcoming years.
The Europe semiconductor memory market is slated to expand at 5% CAGR up to 2027. The presence of leading automotive OEMs such as, PSA Group, BMW Group, Jaguar Land Rover, DAF Trucks, and Daimler AG, focusing on scaling automotive production, is a major factor making Europe a profitable semiconductor market.
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As per the European Automobile Manufacturers’ Association, nearly 15.8 million passenger vehicles were manufactured in Europe in 2019, which was around 21% of the total passenger vehicles produced globally. Important automotive electronics, such as in-vehicle communications, navigation systems, telematics, and instrument clusters are duly integrated with semiconductor memory. The advent of various advanced automotive safety systems, such as ADAS and self-driving cars and the emergence of electronic vehicles, are further likely to complement the regional industry landscape.
Notable companies in the global semiconductor memory market are eyeing on strategies, including acquisitions and mergers to lead the competitive market landscape. For example, SK Hynix, Inc., acquired the NAND memory and storage business of Intel Corporation for US$9 billion in October 2020. The acquisition facilitated SK Hynix, Inc. with Intel’s NAND component & wafer and NAND SSD business and Intel’s Dalian NAND memory manufacturing facility situated in China.
With the emergence of sophisticated technologies, such as AI, IoT, machine learning, 5G networks, robotic automation, and others, the demand for energy-efficient and durable semiconductor memory solutions is likely to proliferate in the coming years.
Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Scope & definition
1.2 Methodology & forecast parameters
1.3 Data Sources
1.3.1 Secondary
1.3.2 Primary
Chapter 2 Executive Summary
2.1 Semiconductor memory market 3600 synopsis, 2016 - 2027
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Type trends
2.1.4 Application trends
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