Research Nester’s recent market research analysis on “Next-Generation Memory Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global next-generation memory market in terms of market segmentation by technology, storage type, end user, and by region.
Increasing Demand for Universal Memory Devices to Promote Global Market Share of Next-Generation Memory
The growth in the market is due to increasing demand for universal memory devices that benefit from a wide array of benefits related to this type of memory. The worldwide volume of consumer electronics storage devices is expected to grow at an overall rate of 6.9 million pieces between 2023 and 2028. It is estimated that 2.6 billion pieces will be produced in 2028.
Moreover, a major factor contributing to market growth in this area is an increase in demand for high-technology equipment. A number of countries in the region have seen an increase in internet usage. Therefore, the growing demand for advanced computer products by Internet users will allow a new generation of memory devices to be produced. According to statistics published by the International Trade Union of Telecoms, there has been an increase from 355 million in Asia and Pacific's internet users between 2005 and 2019, up to 1901 million.
Some of the major growth factors and challenges that are associated with the growth of the global next-generation memory market are:
Growth Drivers:
· Surge in adoption of artificial intelligence, big data, machine learning, and cloud computing
· Rising Need for memory devices that allow quick access, which consume little power
Challenges:
Today, the production cost of dense DRAM and SRAM is very large. In addition, there are also substantial costs for manufacturing memory with a number of bits density next generation. New-generation memory technology is generally characterized by a higher degree of complexity in the production process, compared to conventional technologies for storing memories. For these processes which can have an increased cost, the use of specialized equipment, materials, and expertise may be required. During their initial stage of development and manufacture, next-generation memory technologies may be found to show a lower yield due to problems such as defects, process variations, or material challenges. Consequently, the cost of an operational chip increases as a result of insufficient yield.
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By technology, the global next-generation memory market is segmented into non-volatile and volatile memory. The non-volatile segment is to garner the highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. This can be attributed to the growing demand for better, more efficient, and less expensive memory solutions. The development of modern memory technologies also eliminates the limitations imposed by conventional nonvolatile memory devices as regards speed, stability, and other parameters. With a growing amount of data, more efficient storage solutions with high capacity are needed in order to cope with this global accumulation. There are approximately 328,77 Terabytes of data generated each day. There will be around 120 zettabytes of data produced this year. The speed and performance of non-volatile memory are comparable to flash memory technologies such as DRAM or SRAM, with higher storage densities, e.g. in the case of ReRAM and STT RAM PCM.
By region, the Europe's next-generation memory market is to generate the highest revenue by the end of 2036. The European Union invests and rapidly takes measures to support artificial intelligence and the digitalization of businesses in the region. The EU is hoping that by 2030 at least 75 per cent of businesses will make use of Big Data, cloud computing and artificial intelligence technology while 80 per cent of people have the basic skills to become digitally proficient. The need for high storage platforms will be created by such increased demand in the information and communication technology sector for digitalization in the region.
This report also provides the existing competitive scenario of some of the key players of the global next-generation memory market which includes company profiling of Honeywell International Inc., Micron Technology, Inc., Samsung Electronics Co., Ltd, SK Hynix, Inc., Everspin Technologies, Inc., Nanya Technology Corporation, Kingston Technology Corporation, and others.
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