GVR Report cover Semiconductor Memory Market Size, Share & Trends Report

Semiconductor Memory Market Size, Share & Trends Analysis Report By Type (SRAM, MRAM, DRAM, Flash ROM, Others), By Application, By Regional Outlook, Competitive Strategies, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-651-6
  • Number of Pages: 100
  • Format: Electronic (PDF)

Report Overview

The global semiconductor memory market size was valued at USD 134.41 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.6% from 2023 to 2030. The global market demand was 54.36 billion units in 2022 and 78.64 billion units in 2030. The market is poised to experience significant growth on a global scale due to the increasing adoption of semiconductor components across various industries, including automotive, consumer electronics, and IT & telecom. It is an essential electronic device that serves as computer memory/chips by utilizing Integrated Circuit (IC) technology. These memories are categorized based on the types of data storage and access methods they offer, which include non-volatile ROM (Read Only Memory) and volatile RAM (Random Access Memory). As the demand for faster, more reliable, and power-efficient memory solutions rises, the market is expected to expand, opening new opportunities for businesses operating in this sector.

U.S. semiconductor memory market size and growth rate, 2023 - 2030

Advancing semiconductor technology, encompassing refining processes, enhancing energy efficiency, and maximizing chip capacity, has paved the way for cutting-edge memory solutions tailored to a wide range of industries. As fresh and upgraded semiconductor chip products emerge, companies are eager to embrace these breakthroughs to elevate the quality of their offerings and services. Additionally, the pervasive use of smartphones and other portable devices has sparked an unprecedented desire for high-performance chips that deliver seamless user experiences and swift app loading times and empower smooth multitasking capabilities, reflecting modern users' evolving demands and aspirations.

The dynamic adoption of memory-centric components in cutting-edge products such as smartphones, wearables, and electronic gadgets is the driving catalyst behind the market's expansion. Moreover, the escalating reliance of the automotive and electronics sectors on semiconductor devices, including Flash ROM and DRAM, is distinctly amplifying the demand for integrated chips and gadgets. The global hunger for smart devices, consumer electronics, smartphones, and workstations further accentuate the imperative for technologically sophisticated chips. Consequently, the market is undergoing a compelling growth phase, presenting many promising avenues for businesses operating in this industry.

COVID-19 Impact on the Semiconductor Memory Market

The outbreak of the COVID-19 pandemic in early 2020 deeply impacted global economies and industries, and the semiconductor market was no exception. As nations enforced lockdowns, restricted movements, and businesses embraced remote operations, there was a surge in demand for electronic devices, accompanied by disruptions in supply chains. The semiconductor sector, vital in powering digital technologies, faced many challenges and opportunities during this time. The shutdown of factories and limitations on travel led to significant hitches in the supply chain and manufacturing processes. Many memory manufacturers encountered difficulties sourcing raw materials and components, causing production delays and bottlenecks in the supply chain. The scarcity of skilled labor and reduced workforce capacities further complicated matters, extending delivery timelines and lead times.

These supply chain disruptions, coupled with the escalating demand, created an imbalance between supply and demand in the market. This imbalance triggered price fluctuations and raised costs for memory products, impacting consumers and businesses. While suppliers grappled with meeting the soaring demand, end-users found it challenging to acquire reasonably priced solutions. In the face of challenges, the pandemic expedited the adoption of advanced technologies across various sectors, giving an additional boost to the market. The shift towards remote work and online services underscored the necessity for effective data storage and processing capabilities, spurring the need for faster and higher-capacity memory solutions. Consequently, manufacturers directed their efforts toward crafting innovative products to cater to the evolving demands of different industries.

Type Insights

The DRAM segment led the market and accounted for more than 50% share of the global revenue in 2022. By type segment, the market is bifurcated into SRAM, MRAM, DRAM, Flash ROM, and Others. Dynamic Random-Access Memory, commonly referred to as DRAM, holds a vital role in contemporary computer systems due to its remarkable data access speed and responsiveness. As a volatile semiconductor memory, DRAM relies on a constant power source to retain stored data. Its significance rests in its capability to execute rapid read and write operations, positioning it as the core memory component in computers, smartphones, servers, and various computing devices. The swift data retrieval provided by DRAM ensures the seamless and efficient operation of applications, offering users a smooth experience and enabling effective multitasking. This technology proves indispensable across a multitude of industries and applications, spanning high-performance computing, cloud services, gaming, artificial intelligence, and machine learning. As technology continues evolving, the DRAM market maintains its robustness, driven by the escalating demand for robust computing systems, data-centric applications, and the ever-expanding universe of mobile devices and cloud-driven services.

The Flash ROM segment is anticipated to witness the fastest growth, growing at a CAGR of 13.6% throughout the forecast period. Flash ROM, also known as Flash memory or NAND Flash, is a non-volatile semiconductor memory that possesses the ability to preserve data even when the power supply is disconnected. This characteristic has made it a fundamental component in a wide array of electronic devices, including smartphones, tablets, USB drives, digital cameras, and solid-state drives (SSDs). The significance of Flash ROM stems from its reliability and convenience in data storage. This aspect makes it exceptionally well-suited for applications requiring persistent information storage, such as saving system configurations, operating systems, and user data. The surge in cloud-based services and the growing prominence of big data applications have fueled a substantial demand for data centers and efficient storage solutions. Flash ROM's exceptional speed and reliability have positioned it as the preferred choice for data storage in these data centers, consequently boosting the performance of cloud services and expediting data processing.

Application Insights

The consumer electronics segment led the market and accounted for more than 33% share of the global revenue in 2022. By application segment, the market is bifurcated into consumer electronics, IT & telecommunication, automotive, industrial, aerospace & defense, medical, and others. In the rapidly evolving consumer electronics landscape, the demand for memory solutions that can keep up with the ever-increasing data requirements is paramount. The continuous advancement is characterized by introducing of higher-density chips and improved memory architectures, has played a focal role in meeting these escalating demands. This ongoing progress enables consumer electronics manufacturers to offer cutting-edge innovations and empowers them to maintain a competitive edge in a fast-paced and dynamic market. Moreover, the seamless integration of semiconductor chips with cloud-based services and data-driven applications has become a game-changer in the consumer electronics industry. By efficiently accessing and storing data on remote servers, consumer devices can tap into the vast capabilities of the cloud, enriching user experiences and expanding the ecosystem of interconnected devices and services. As consumer electronics continue to evolve, leveraging the full potential of semiconductor chips becomes essential for driving success in this dynamic and competitive market.

Global semiconductor memory market share and size, 2022

The IT & telecommunication segment is anticipated to grow at a considerable CAGR of 13.2% throughout the forecast period.The scalability of semiconductor memory is critical in addressing ever-increasing data demands. As the use of connected devices, IoT, and data-intensive applications continues to surge, expanding chips capacities flexibly becomes crucial to meet these growing requirements. Moreover, semiconductor chips is pivotal in driving innovation in the IT & telecommunication sector. By seamlessly integrating memory technologies with cloud computing and data analytics, businesses can unlock the full potential of their IT systems. This integration enhances the capabilities of IT infrastructure, enabling real-time data analysis, AI-driven decision-making, and personalized user experiences. The advanced features enabled by semiconductor memory open up new possibilities for businesses, allowing them to deliver cutting-edge services and applications to their customers and stay ahead in a competitive market.

Regional Insights

Asia Pacific led the overall market in 2022, with a market share of more than 43.0%.Several key factors are driving the market in Asia Pacific. The region is witnessing rapid economic growth coupled with increasing consumer spending on electronic devices. In 2022, the region witnessed surged sales of electronic devices, such as laptops and smartphones. As a result, there is a surge in demand for memory-intensive products such as smartphones, tablets, and smart home appliances, fueling the need for advanced semiconductor memory solutions. Additionally, the growing adoption of cloud computing and data-driven applications across various industries bolstered the demand for high-performance solutions to support the massive data processing requirements. Moreover, the rise of the Internet of Things (IoT) in the region is contributing to the growth of the market, as IoT devices rely heavily on memory for data storage and processing. Furthermore, governments in several Asia Pacific countries are investing in infrastructure development, including the establishment of data centers and 5G networks, further driving the demand for semiconductor memory solutions to support these initiatives.

Semiconductor Memory Market Trends, by Region, 2023 - 2030

North America is expected to grow notably with a CAGR of 15.1%. The North American market is witnessing strong expansion, owing to the region's forefront position in technological advancement. With a significant focus on research and development across various sectors, the demand for state-of-the-art semiconductor memory solutions is rising, especially to bolster cutting-edge applications in artificial intelligence, machine learning, and data analytics. Moreover, North America is a key hub for the gaming and entertainment industry, where high-performance memory is crucial for delivering captivating gaming experiences and seamless content streaming. The region's growth is further fueled by the widespread adoption of cloud-based services and the establishment of data centers, creating a need for advanced semiconductor chip solutions capable of handling the substantial volume of generated and processed data. The escalating embrace of autonomous vehicles and smart transportation systems in North America amplifies the requirement for robust memory solutions, ensuring real-time data processing and swift decision-making.

Key Companies & Market Share Insights

The semiconductor memory market is highly competitive. Major players are investing in Research & Development (R&D) to drive innovation. Some prominent players in the market include Micron Technology; Integrated Silicon Solution Inc.; Macronix International Co., Ltd.; and Samsung Electronics, among others. Prominent industry participants strategically implement diverse approaches, including introducing new products, mergers and acquisitions, and other initiatives to enhance their market presence and bolster their share within the market. Complementing these strategic endeavors, these players also introduce innovative features to elevate the overall customer experience.

In June 2023, Micron Technology, Inc. announced expanding its NAND and DRAM test and assembly facility in India. This state-of-the-art facility will serve as a vital manufacturing hub for DRAM and NAND products, catering to the surging demand from domestic and international markets. Micron's commitment to sustainability is evident, as the company aims to align the facility's construction and operation with its environmental goals and global commitments. By establishing this advanced assembly and test facility in Gujarat, Micron is poised to enhance its manufacturing capabilities and strengthen its position in the semiconductor market. The strategic location in India allows the company to tap into the growing demand for memory products and meet the needs of customers in both local and international markets. Some of the prominent players operating in the market include:

  • Integrated Silicon Solution Inc.

  • Micron Technology

  • Macronix International Co., Ltd.

  • Samsung Electronics

  • SK Hynix

  • Taiwan Semiconductor

  • Texas Instruments

  • Toshiba

  • Cypress Semiconductor Corporation

  • IBM

Semiconductor Memory Market Report Scope

Report Attribute


Market size value in 2023

USD 111.62 billion

Revenue forecast in 2030

USD 240.66 billion

Growth Rate

CAGR of 11.6% from 2023 to 2030

Base year for estimation


Market demand in 2023

44.46 billion Units

Volume Forecast in 2030

78.64 billion Units

Historic year

2017 - 2021

Forecast period

2023 - 2030

Report updated

September 2023

Quantitative units

Revenue in USD million/billion, volume in million/billion units, and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, application, region

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; U.K.; Germany; France; China; India; Japan; South Korea; Brazil

Key companies profiled

Integrated Silicon Solution Inc.; Micron Technology; Macronix International Co., Ltd.; Samsung Electronics; SK Hynix; Taiwan Semiconductor; Texas Instruments; Toshiba; Cypress Semiconductor Corporation; IBM

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Semiconductor Memory Market Report Segmentation

This report forecasts revenue growth at global, regional, as well as at country levels and offers qualitative and quantitative analysis of the market trends for each of the segment and sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global semiconductor memory market based on type, application, and region.

Global Semiconductor Memory Market Report Segmentation

  • Type Outlook (Volume, Million Units; Revenue, USD Million; 2017 - 2030)

    • SRAM

    • MRAM

    • DRAM

    • Flash ROM

    • Others

  • Application Outlook (Volume, Million Units; Revenue, USD Million; 2017 - 2030)

    • Consumer Electronics

    • IT & Telecommunication

    • Automotive

    • Industrial

    • Aerospace & Defense

    • Medical

    • Others

  • Regional Outlook (Volume, Million Units; Revenue, USD Million; 2017 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

    • Asia Pacific

      • India

      • China

      • Japan

      • South Korea

    • South America

      • Brazil

    • Middle East & Africa

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