Semiconductor Memory Market to hit $340 Billion by 2032, Says Global Market Insights inc.
Semiconductor memory industry is expected to register 7.5% CAGR between 2023 and 2032 propelled by rising penetration of 5G and IoT devices globally.
Selbyville, Delaware, Jan. 25, 2023 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the Global Semiconductor Memory Market was estimated at USD 160 billion in 2022 and is expected to surpass a valuation of $340 billion by 2032, progressing at a CAGR of 7.5% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
The rising demand for electronic and consumer products such as laptops, smartphones, and tablets, is expected to fuel industry expansion. Furthermore, SSDs are gaining popularity among electronics manufacturers to fulfill the demand for modern electronics. These factors contribute to the increasing need for NAND Flash memory components, which are mostly employed in SSDs, hence driving the semiconductor memory market. Furthermore, the extensive use of semiconductor memory in sophisticated automotive applications is likely to enhance the business returns by 2032.
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Rapid development of data centers to fuel product uptake for telecom applications
The telecommunications industry is forecasted to grow at over 8% CAGR through 2032 resulting from the mounting product applications backed by the rapid deployment of data centers worldwide. The need for data centers to manage massive amounts of data and information is growing in the IT and telecom industries. The growing number of sophisticated data center infrastructures that have large memory requirements is also anticipated to bolster the need for efficient memory solutions like DRAM and 3D NAND Flash, which is foreseen to support semiconductor memory market development.
Increasing demand from the electronics and communication sectors to favor SRAM market
The SRAM semiconductor memory industry is set to generate more than USD 900 million in revenue by 2032 due to rising demand from electronics, computer, and communication applications, as well as the development of revolutionary SRAM technologies.
Key reasons for semiconductor memory market growth:
- Rising adoption of semiconductor memory in data centers.
- Growing memory requirements in gaming & entertainment applications.
- Rising penetration of 5G and IoT devices.
- Growing demand for semiconductor memory in advanced automotive applications.
- Increasing demand from consumer electronics products.
Growing adoption of semiconductors in the automotive sector to boost RAM segment revenue
The random access memory (RAM) segment held over 60% of the semiconductor memory market share in 2022 and is speculated to grow considerably during 2023-2032. The growing espousal of semiconductors in automotive and electronic systems, such as SRAM, DRAM and MRAM, is accelerating the demand for integrated devices and memory chips. The digital evolution across the semiconductor industry and the implementation of memory-based components in technologically advanced products are creating massive development potential for the semiconductor memory business.
Massive investments for the progress of the semiconductor sector in Europe
The Europe semiconductor memory market size is speculated to observe 5% growth between 2023 and 2032. Prominent government policies and funding to promote R&D projects in the semiconductor industry are helping stabilize and witness lucrative prospects for the UK semiconductor memory business. Leading businesses in several industries, including telecommunications, consumer electronics, and automotive, are making massive investments in integrating AI into their products, which is a key factor impelling regional revenues.
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Strategic partnerships to define the competitive landscape of the industry
Samsung Electronics Co., Ltd., SK Hynix, Inc., Micron Technology, Fujitsu Limited, Kioxia Corporation, Winbond Electronics Corporation, and Western Digital Corporation are some of the leading enterprises operating in the market for semiconductor memory. These businesses frequently engage in strategic projects to increase their revenue shares, such as collaborations and service portfolio expansions. For instance, in March 2022, semiconductor manufacturer Infineon Technologies AG and electronics company Winbond Corporation collaborated on developing the bandwidth of IoT applications with the new product, HYPERRAM 3.0.
Partial chapters of report table of contents (TOC):
Chapter 2Executive Summary
2.1 Semiconductor memory industry 3600snapshots, 2018-2032
2.2 Business trends
2.3 Regional trends
2.4 Type trends
2.5 Application trends
Chapter 3Semiconductor Memory Industry Insights
3.2 Industry landscape, 2018-2032
3.3 COVID-19 impact
3.4 Russia-Ukraine war impact
3.5 Industry ecosystem analysis
3.6 Profit margin analysis,2022
3.7 Technology & innovation landscape
3.8 Patent landscape
3.9 Key initiative & news
3.10 Regulatory landscape
3.11 Industry impact forces
3.12 Investment portfolio
3.13 Growth potential analysis
3.14 Porters analysis
3.15 PESTEL analysis
Chapter 4Competitive Landscape, 2022
4.2 Market share analysis, 2022
4.3 Completive analysis of major market players, 2022
4.4 Completive analysis of innovative players, 2022
4.5 Competitive positioning matrix
4.6 Strategic outlook matrix
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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