The global semiconductor memory market is projected to grow at fast pace over the forecast period owing to smartphone proliferation and technological advancements coupled with rising popularity of smart devices. Rapidly emerging mobile computing and rising Solid-State Drives (SSD) market is also anticipated to drive the growth of global market over the forecast period. In addition, growing demand across the electronics industry is expected to impact market growth positively over the next eight years.
Semiconductor memory is an electronic device for data storage, frequently used as computer memory and implemented on a semiconductor-based IC. Semiconductor memory is a vital component of any simple electronic device. Rising demand for low power, high capacity memory has been rapidly growing over the past few years as new portable electronic devices boost performance while reducing its size. Due to its several advantages over traditional floating gate memory, SONOS-type nonvolatile semiconductor memories and their various derivative are expected to be the next step for the evolution of NVSM technology.
The product has numerous applications including USB storage drives, flash memory cards, and solid-state drives in laptops, as well as data and code storage for cell phones, PDAs, and MP3 players. NVSMs have seen a dramatic increase in the market share over the past few years and trend is projected to repeat in the coming years. The semiconductor memory market is organized into volatile and non-volatile memory tools.
The importance of semiconductor memories has led to immobile nature of the market, on technology and business fronts. Numerous government regulations regarding various manufacturing standards have been widely affecting the sourcing of raw materials, thus driving up the product cost. This factor is expected to be a major challenge to the growth of global market over the forecast period.
The global market is segmented into Random Access Memory and Read Only Memory. RAM comprises MRAM, SDRAM, SRAM, and DRAM. ROM includes EPROM, EEPROM, Flash Memory, and PROM. DRAM is expected to account for a significant market share over forecast period closely followed by NAND. PCRAM has been a novel technology in the market and has been showing value added and enhanced features while reducing power consumption, and it is anticipated to offer avenues for market growth over the next eight years.
High manufacturing cost coupled with cyclicality might also pose a challenge to the global semiconductor memory industry over the next eight years. Furthermore, rising cost associated with existing fabrication plants and new plant constructions has caused high R&D investments among market players that might hamper market growth over the forecast period.
However, manufacturers are anticipated to implement operational enhancement programs for product lines that can hit targets for ROI in order to overcome these challenges. Companies have been stressing on outsourcing a large part of their chip production to dedicated manufacturing firms in order to lessen the overall net capital expenditure.
Mobile and mass storage memory, MCU smart card & other markets, wearable, enterprise storage, and industry & transportation are expected to arise as dominant application areas over the forecast period.
Geographically, the global semiconductor memory market is segmented into North America, Asia Pacific, Latin America, Middle East and Africa, and Europe. North America is projected to foresee significant growth over the next eight years followed by Europe. Mainly the U.S., Germany, France, UK, and Italy are expected to account for highest growth in the region on account of rising R&D endeavors by companies and presence of significant market players dedicated to developing technology.
Asia-Pacific is expected to foresee the fastest growth over the forecast period owing to augmented usage and adoption of handheld electronic devices such as tablets and smartphones. India, China, South Korea, and Taiwan are projected to account for the major market share in the region due to rising industrial application, economic developments and technology adoption for various industrial operations.
The Middle East & Africa is predicted to see significant growth by 2024 mainly owing to increasing industrialization, urbanization, and globalization. The market has high potential in this region due to growing economic development and rising purchasing power parity.
The key players dominating the market for semiconductor memory include Toshiba, Samsung, Intel, Crocus Technology, SanDisk Corporation, Micron Technology Inc., IBM, Fujitsu, Cypress Semiconductor, Atmel Corporation, SMIC, while other prominent players include NXP Semiconductors, Taiwan Semiconductor Manufacturing Company, Infineon, NEC Electronics, Texas Instruments, Hynix, Chartered Semiconductor Manufacturing, Renesas, Global Foundries and Everspin Technology.
Through mergers & acquisitions and strategic expansions numerous market players have been trying to cater to a larger customer base with alloys including platinum group, refractory and non-ferrous. Through R&D efforts and continuous innovation, companies have been developing premium quality and high-value products with the best cost for price sensitive industry. The efforts as mentioned earlier by the companies are expected to have a positive impact on the industry over the next eight years.
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