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Memory is the electronic holding place for the instructions and data a computer needs to reach quickly. It's where information is stored for immediate use. Memory is one of the basic functions of a computer, because without it, a computer would not be able to function properly. Memory is also used by a computer's operating system, hardware and software. In 2022, the global memory market was valued at US$110.16 billion, and is probable to reach US$166.04 billion by 2028.
The memory market would experience decline in 2023 due to inflation and weakening demand in end markets, particularly those relying on consumer spending. The Global chip shortage has made it difficult for companies to get the memory chips they need. This has led to a backlog of demand, which is likely to be released once the chip shortage is resolved. However, 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. The rise in demand for memory and storage devices in next-generation connected automobiles and automotive safety systems is credited for the markets growth. The global memory market value is projected to grow at a CAGR of 19.54%, during the forecast period of 2023-2028.
Market Segmentation Analysis:
By Type: According to the report, the global memory market is segmented into three types: DRAM, NAND and Others. DRAM segment acquired majority of share in the market in 2022 and has the fastest CAGR, as 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 DRAM value declined in 2022 due to weak demand and significant vendor inventory, this will create oversupply resulting in strong price declines.
By Demand: The DRAM and NAND memory market are shown on the basis of their demand in the report. DRAM plays a crucial role in providing the necessary memory capacity and speed for modern processors. Also, the growth of cloud computing and data center services has led to a substantial increase in the demand for DRAM. The demand for DRAM would increase in 2023, on the back of minor green shoots in inventory restocking in mobile and PC. The DRAM market demand is further segmented on application (Server, Mobile DRAM, PC DRAM and Others). Server segment acquired majority of share in the market in 2022, as servers used in AI and ML tasks often feature high-capacity and high-speed DRAM to meet the memory demands of these workloads.
Similarly, it is expected that demand growth for NAND across applications to continue heading in the coming years, mainly driven by the replacement cycle and demand for faster, efficient technology. NAND memory market demand is further sub segmented on the basis of application (SSD, Smartphones, Tablets, Flash cards, USB and others). SSD NAND memory demand acquired majority of share in the market in 2022, as they allow SSDs to store data permanently and to provide high performance and durability.
By Supply: The DRAM and NAND memory market are also shown on the basis of their demand in the report. The DRAM supply is expected to rise as the semiconductor industry continually advances its manufacturing processes, allowing for the production of smaller and more efficient DRAM chips.
In recent years, NAND memory manufacturers have announced billions of dollars in investments in new fabs. This will lead to a significant increase in NAND memory supply in the coming years. For instance, in January 2023, TSMC announced that it had begun mass production of its new 5 nm process.
By Region: The report provides insight into the memory market based on the supply, namely South Korea, Japan, China, Taiwan and the US. South Korea memory market supply enjoyed the highest market share in 2022, as South Korean companies are expanding the business which would grow the market in the future, for instance, SK Hynix is evaluating Indias semiconductor manufacturing incentive scheme and is in touch with the Centre to explore the prospects of setting up a packaging facility in the country. Whereas, China memory market supply has the highest CAGR in the market, as China is attempting to produce DRAM and NAND chips. The Chinese government has made significant investments in the semiconductor industry in recent years. This investment is helping to boost domestic production of memory chips and reduce reliance on imports.
Global Memory Market Dynamics:
Growth Drivers: 5G technology plays a pivotal role in driving growth in the global memory market due to its transformative impact on the way one communicate, connect, and interact with technology. Streaming 4K and eventually 8K video content, augmented reality (AR) and virtual reality (VR) applications, cloud gaming, and high-resolution video conferencing will become more prevalent. These data-heavy tasks will create a surge in demand for memory components. Further, the market is expected to increase due to rising penetration of IOT devices, proliferation of smartphones, increasing use of semiconductor components across various industries, increasing demand for data storage, growing establishment of data centers, rise in gaming & entertainment industry, etc.
Challenges: The market's expansion is projected to be hampered by cyclical demand. The memory market is highly cyclical, with periods of oversupply and price declines followed by periods of high demand and price increases. Managing these cycles poses a significant challenge for manufacturers. Memory products often exhibit seasonal demand patterns. The other challenges that memory market faces include barriers to entry, etc.
Trends: One of the most distinct and pervasive trends observed in the global memory market is growth in high bandwidth memory TAM. HBM is a new type of CPU/GPU memory (RAM) that vertically stacks memory chips, like floors in a skyscraper. As gamers increasingly expect smaller and more powerful PCs, the elimination of bulky GDDR5 chips in favor of HBM can enable devices with exciting new form factors that pack a punch in a smaller size. More trends in the market are believed to augment the growth of memory market during the forecasted period include, artificial intelligence and machine learning, next-generation memories like MRAM memories, etc.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 had a significant impact on memory market. The market increased in 2020 due to the increased use of laptops and other devices in work from home, which impacted positively for memory market.
Competitive Landscape and Recent Developments:
Global memory market is concentrated, with two main suppliers in the market, namely Samsung and Micron accounting for more than 50% of the market.
Key players of global memory market are:
Samsung Electronics Co., Ltd.
Micron Technology, Inc.
Infineon Technologies AG
Intel Corporation
Microchip Technology Inc.
Macronix International Co. Ltd.
SK Hynix Inc.
Winbond Electronics Corporation
Nanya Technology Corp
KIOXIA Holdings Corporation
Yangtze Memory Technologies Corp
Integrated Silicon Solution, Inc.
The key players are constantly investing in strategic initiatives, such as new product launches, introducing their products to emerging markets and more, to maintain a competitive edge in this market. For instance, in May 2023, Samsung Electronics announced that it had begun mass production of its new 3-nanometer (nm) DRAM chips. These chips are the first in the world to be manufactured using the 3nm process, and they offer significant performance and power efficiency improvements over previous generations. In April 2023, SK Hynix also announced that it had begun mass production of its new 16-gigabit (Gb) LPDDR5 DRAM chips.
Table of Contents
1. Executive Summary
2. Introduction
2.1 Memory: An Overview
2.1.1 Types of Memory
2.2 Memory Segmentation: An Overview
2.2.1 Memory Segmentation
3. Global Market Analysis
3.1 Global Memory Market: An Analysis
3.1.1 Global Memory Market: An Overview
3.1.2 Global Memory Market by Value
3.1.3 Global Memory Market by Type (DRAM, NAND and Others)
3.1.4 Global Memory Market by Supply
3.1.5 Global Memory Market Supply by Region (South Korea, Taiwan, Japan, China and the US)
3.2 Global Memory Market: Type Analysis
3.2.1 Global Memory Market by Type: An Overview
3.2.2 Global DRAM Market by Value
3.2.3 Global NAND Memory Market by Value
3.2.4 Global Other Memory Market by Value
3.3 Global DRAM Market: An Analysis
3.3.1 Global DRAM Market Demand: An Overview
3.3.2 Global DRAM Market by Demand
3.3.3 Global DRAM Market Demand by Application (Server, Mobile DRAM, PC DRAM and Others)
3.3.4 Global DRAM Market by Supply
3.4 Global DRAM Market: Application Analysis
3.4.1 Global DRAM Market Demand by Application: An Overview
3.4.2 Global Server DRAM Market by Demand
3.4.3 Global Mobile DRAM Market by Demand
3.4.4 Global PC DRAM Market by Demand
3.4.5 Global PC DRAM Market Demand by Application (Upgrades & other data processing, Notebook and Desktop)
3.4.6 Global Others Application DRAM Market by Demand
3.5 Global NAND Memory Market: An Analysis
3.5.1 Global NAND Memory Market Demand: An Overview
3.5.2 Global NAND Memory Market by Demand
3.5.3 Global NAND Memory Market Demand by Application (SSD, Smartphones, Tablets, Flash cards, USB and others)
3.5.4 Global NAND Memory Market by Supply
3.6 Global NAND Memory Market: Application Analysis
3.6.1 Global NAND Memory Market Demand by Application: An Overview
3.6.2 Global SSD NAND Memory Market by Demand
3.6.3 Global Smartphones NAND Memory Market by Demand
3.6.4 Global Tablets NAND Memory Market by Demand
3.6.5 Global Flash cards NAND Memory Market by Demand
3.6.6 Global USB NAND Memory Market by Demand
3.6.7 Global Other Application NAND Memory Market by Demand
4. Regional Market Analysis
4.1 South Korea Memory Market Supply: An Analysis
4.1.1 South Korea Memory Market Supply: An Overview
4.1.2 South Korea Memory Market by Supply
4.2 Taiwan Memory Market Supply: An Analysis
4.2.1 Taiwan Memory Market Supply: An Overview
4.2.2 Taiwan Memory Market by Supply
4.3 Japan Memory Market Supply: An Analysis
4.3.1 Japan Memory Market Supply: An Overview
4.3.2 Japan Memory Market by Supply
4.4 China Memory Market Supply: An Analysis
4.4.1 China Memory Market Supply: An Overview
4.4.2 China Memory Market by Supply
4.5 The US Memory Market Supply: An Analysis
4.5.1 The US Memory Market Supply: An Overview
4.5.2 The US Memory Market by Supply
5. Impact of COVID-19
5.1 Impact of COVID-19 on Memory Market
5.1.1 Impact of COVID-19 on Memory Market
5.1.2 Post COVID-19 Impact
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Rising Emergence of 5G Technology
6.1.2 Rising Penetration of IoT Devices
6.1.3 Growing Use of DRAM in Smartphones
6.1.4 Growing Establishment of Data Centers
6.1.5 Rising Use of Semiconductor Components across Various Industries
6.1.6 Increasing Demand for Data Storage
6.1.7 Rise in Gaming & Entertainment Industry
6.2 Challenges
6.2.1 Cyclical Demand
6.2.2 Barriers to Entry
6.3 Market Trends
6.3.1 Growth in High Bandwidth Memory TAM
6.3.2 Artificial Intelligence and Machine Learning
6.3.3 Next-generation Memories Like MRAM Memories
7. Competitive Landscape
7.1 Global Memory Players by Market Share
7.2 Global DRAM Memory Players by Market Share
7.3 Global NAND Memory Players by Market Share
7.4 Global High Bandwidth Memory (HBM) Players by Market Share
7.5 Global DRAM Market Players by Capex Comparison
8. Company Profiles
8.1 Samsung Electronics Co., Ltd.
8.1.1 Business Overview
8.1.2 Operating Segments
8.1.3 Business Strategy
8.2 Micron Technology, Inc.
8.2.1 Business Overview
8.2.2 Operating Segments
8.2.3 Business Strategy
8.3 Infineon Technologies AG
8.3.1 Business Overview
8.3.2 Operating Segments
8.3.3 Business Strategy
8.4 Intel Corporation
8.4.1 Business Overview
8.4.2 Operating Segments
8.4.3 Business Strategies
8.5 Microchip Technology Inc.
8.5.1 Business Overview
8.5.2 Operating Segments
8.5.3 Business Strategy
8.6 Macronix International Co. Ltd.
8.6.1 Business Overview
8.6.2 Operating Segments
8.6.3 Business Strategy
8.7 SK Hynix Inc.
8.7.1 Business Overview
8.7.2 Operating Regions
8.7.3 Business Strategy
8.8 Winbond Electronics Corporation
8.8.1 Business Overview
8.8.2 Operating Segments
8.8.3 Business Strategy
8.9 Nanya Technology Corp
8.9.1 Business Overview
8.9.2 Operating Segments
8.9.3 Business Strategy
8.10 KIOXIA Holdings Corporation
8.10.1 Business Overview
8.10.2 Business Strategy
8.11 Yangtze Memory Technologies Corp
8.11.1 Business Overview
8.11.2 Business Strategy
8.12 Integrated Silicon Solution, Inc.
8.12.1 Business Overview
List of Figures
Figure 1: Types of Memory
Figure 2: Memory Segmentation
Figure 3: Global Memory Market by Value; 2018-2022 (US$ Billion)
Figure 4: Global Memory Market by Value; 2023-2028 (US$ Billion)
Figure 5: Global Memory Market by Type; 2022 (Percentage, %)
Figure 6: Global Memory Market by Supply; 2021-2022 (Million)
Figure 7: Global Memory Market by Supply; 2023-2028 (Million)
Figure 8: Global Memory Market Supply by Region; 2022 (Percentage, %)
Figure 9: Global DRAM Market by Value; 2018-2022 (US$ Billion)
Figure 10: Global DRAM Market by Value; 2023-2028 (US$ Billion)
Figure 11: Global NAND Memory Market by Value; 2018-2022 (US$ Billion)
Figure 12: Global NAND Memory Market by Value; 2023-2028 (US$ Billion)
Figure 13: Global Other Memory Market by Value; 2018-2022 (US$ Billion)
Figure 14: Global Other Memory Market by Value; 2023-2028 (US$ Billion)
Figure 15: Global DRAM Market by Demand; 2021-2022 (Million)
Figure 16: Global DRAM Market by Demand; 2023-2028 (Million)
Figure 17: Global DRAM Market Demand by Application; 2022 (Percentage, %)
Figure 18: Global DRAM Market by Supply; 2021-2022 (Million)
Figure 19: Global DRAM Market by Supply; 2023-2028 (Million)
Figure 20: Global Server DRAM Market by Demand; 2021-2022 (Million)
Figure 21: Global Server DRAM Market by Demand; 2023-2028 (Million)
Figure 22: Global Mobile DRAM Market by Demand; 2021-2022 (Million)
Figure 23: Global Mobile DRAM Market by Demand; 2023-2028 (Million)
Figure 24: Global PC DRAM Market by Demand; 2021-2022 (Million)
Figure 25: Global PC DRAM Market by Demand; 2023-2028 (Million)
Figure 26: Global PC DRAM Market Demand by Application; 2022 (Percentage, %)
Figure 27: Global Others Application DRAM Market by Demand; 2021-2022 (Million)
Figure 28: Global Others Application DRAM Market by Demand; 2023-2028 (Million)
Figure 29: Global NAND Memory Market by Demand; 2021-2022 (Million)
Figure 30: Global NAND Memory Market by Demand; 2023-2028 (Million)
Figure 31: Global NAND Memory Market Demand by Application; 2022 (Percentage, %)
Figure 32: Global NAND Memory Market by Supply; 2021-2022 (Million)
Figure 33: Global NAND Memory Market by Supply; 2023-2028 (Million)
Figure 34: Global SSD NAND Memory Market by Demand; 2021-2022 (Million)
Figure 35: Global SSD NAND Memory Market by Demand; 2023-2028 (Million)
Figure 36: Global Smartphones NAND Memory Market by Demand; 2021-2022 (Million)
Figure 37: Global Smartphones NAND Memory Market by Demand; 2023-2028 (Million)
Figure 38: Global Tablets NAND Memory Market by Demand; 2021-2022 (Thousand)
Figure 39: Global Tablets NAND Memory Market by Demand; 2023-2028 (Million)
Figure 40: Global Flash cards NAND Memory Market by Demand; 2021-2022 (Thousand)
Figure 41: Global Flash cards NAND Memory Market by Demand; 2023-2028 (Million)
Figure 42: Global USB NAND Memory Market by Demand; 2021-2022 (Thousand)
Figure 43: Global USB NAND Memory Market by Demand; 2023-2028 (Thousand)
Figure 44: Global Other Application NAND Memory Market by Demand; 2021-2022 (Million)
Figure 45: Global Other Application NAND Memory Market by Demand; 2023-2028 (Million)
Figure 46: South Korea Memory Market by Supply; 2022-2028 (Million)
Figure 47: Taiwan Memory Market by Supply; 2022-2028 (Million)
Figure 48: Japan Memory Market by Supply; 2022-2028 (Million)
Figure 49: China Memory Market by Supply; 2022-2028 (Million)
Figure 50: The US Memory Market by Supply; 2022-2028 (Million
Figure 51: Global Population Coverage by 5G Technology; 2022 and 2028 (Percentage, %)
Figure 52: Global Active IoT Connections (Installed Base); 2015-2027 (Billion)
Figure 53: Global DRAM Shipments across Smartphones; 2020-2025 (Million)
Figure 54: Global Data Centers Spending; 2020-2023 (US$ Billion)
Figure 55: Global DRAM ASP Change; 2022-2025 (Percentage, %)
Figure 56: Global High Bandwidth Memory Market Revenue; 2022-2025 (US$ Billion)
Figure 57: Global Artificial Intelligence Market; 2021-2030 (US$ Billion)
Figure 58: Global Memory Players by Market Share; 2022 (Percentage, %)
Figure 59: Global DRAM Players by Market Share; 2022 (Percentage, %)
Figure 60: Global NAND Memory Players by Market Share; 2022 (Percentage, %)
Figure 61: Global High Bandwidth Memory (HBM) Players by Market Share; 2022 (Percentage, %)
Figure 62: Samsung Electronics Co., Ltd. Net Revenue by Segments; 2022 (Percentage, %)
Figure 63: Micron Technology, Inc. Revenue by Segments; 2022 (Percentage, %)
Figure 64: Infineon Technologies AG Revenue by Segments; 2022 (Percentage, %)
Figure 65: Intel Corporation Revenue by Segments; 2022 (Percentage, %)
Figure 66: Microchip Technology Inc., Net sales by Segment; 2023 (Percentage, %)
Figure 67: Macronix International Co. Ltd. Revenue by Segments; 2022 (Percentage, %)
Figure 68: SK Hynix Inc. Revenue by Regions; 2022 (Percentage, %)
Figure 69: Winbond Electronics Corporation Revenue by Segments; 2022 (Percentage, %)
Figure 70: Nanya Technology Corp Revenue by Segments; 2022 (Percentage, %)
Table 1: Global DRAM Market Players by Capex Comparison; US$ Billion
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