Selbyville, Delaware, June 15, 2021 (GLOBE NEWSWIRE) —
According to latest report “Semiconductor Memory Market by Type (Static Random-access Memory (SRAM), Magneto-resistive Random-access Memory (MRAM), Dynamic Random-access Memory (DRAM), Flash Memory), Application (Aerospace & Defense, Automotive, Consumer Electronics, Industrial, Medical, Telecommunications), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of semiconductor memory will cross $180 billion by 2027.
Market growth is credited to the increasing demand for memory and storage components in point-of-care healthcare equipment and portable medical devices. Various intelligent point-of-care devices, such as glucose monitors, heart rate monitors, continuous temperature monitors, and pulse oximeters monitor, store real-time diagnostic data. The data can further be extracted from the semiconductor memory to analyze the disease source and provide early treatment & diagnosis of targeted diseases. The development in medical science and the proliferation of medical equipment will add opportunities for semiconductor memory manufacturers in the coming years. Several industry participants are emphasizing on integrating AI and IoT technologies in medical and healthcare devices, which will further add opportunities to the market expansion.
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The Magneto-resistive Random-access Memory (MRAM) segment accounted for 1% of the semiconductor memory market share in 2020 and will witness 15% growth rate by 2027 owing to the several features offered by the technology such as faster read/write cycles, low power consumption, and high durability offered by the MRAM devices. MRAM devices are non-volatile, which increases their data storage capacity for longer timespans. Industry players are emphasizing on developing MRAM chipsets for consumer electronics applications to stay competitive in the market.
The industrial application segment in the semiconductor memory market held 10% of revenue share in 2020 driven by the increasing demand for semiconductor memory chipsets in various industrial components such as Programmable Logic Controllers (PLC), Human-Machine Interface (HMI), industrial PCs, and gateway devices. Adding to this, the proliferation of smart factories across developed economies, such as South Korea, China, Germany, and the U.S., will increase the uptake of IIoT devices, robotics, and automation equipment. This is expected to rise the demand for semiconductor memory solutions across the industrial sector in the coming years.
Europe semiconductor memory market is anticipated to register 5% CAGR by 2027 on account of the presence of major automotive OEMs in Europe, such as PSA Group, Jaguar Land Rover, BMW Group, Daimler AG, and DAF Trucks, who are highly focusing on increasing their automotive production in the region. According to the European Automobile Manufacturers’ Association, the region manufactured around 15.8 million passenger vehicles in FY2019, which accounted for approximately 21% of the global passenger vehicle production. The semiconductor memory is extensively integrated with various automotive electronics such as instrument clusters, telematics, navigation systems, and in-vehicle communications. The development in advanced automotive safety systems, such as self-driving cars and ADAS systems, will further fuel the market value in the region.
Some of the major companies operating in the semiconductor memory market include Micron Technology, Inc., Western Digital Corporation, Intel Corporation, NXP Semiconductors N.V., SK Hynix, Samsung Electronics, Microchip Technology, Inc., and Cyprus Semiconductor Corporation, among others. Companies are focusing on inorganic growth strategies, such as mergers and acquisitions, to stay competitive in the market.
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Some major findings of the semiconductor memory market report include:
- Rising adoption of advanced telematics, instrument clusters, in-vehicle infotainment systems, and ADAS solutions across advanced automotive and connected cars is projected to propel the market demand over the forecast period
- The growing uptake of Dynamic Random-access Memory (DRAM) in gaming consoles, PC hardware, and high-performance computing devices will support the industry growth. DRAM memory offers low latency and higher bandwidth compared to SRAM memory devices, adding growth opportunities for DRAM manufacturers in the coming years.
- Technological advancements in Flash memory including the development of 3D NAND Flash drives are impelling the semiconductor memory market progression. The new technology helps in the 3D stacking of up to 162 semiconductor layers in Flash memory, which increases transmission speed and reduces latency further driving the industry expansion.
- The COVID-19 pandemic has severely impacted the industry revenue in the first half of 2020. The stringent lockdown imposed by several governments has resulted in international trade barriers and supply chain disruptions in terms of raw materials & components. The growing work-from-home scenario has resulted in increasing sales of consumer electronic devices, such as tablets, laptops, PCs & smartphones, supporting semiconductor memory manufacturers during the pandemic.
Table of Contents (ToC) of the report:
Chapter 3 Semiconductor Memory Market Insights
3.1 Industry segmentation
3.2 Impact analysis of corona virus (COVID-19) pandemic
3.2.1 Global outlook
3.2.2 Impact by region
3.2.3 Industry value chain
18.104.22.168 Research and development
3.2.4 Competitive landscape
22.214.171.124 Distribution network
126.96.36.199 Business growth
3.3 Industry ecosystem analysis
3.3.2 Distribution channel
3.3.4 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Evolution of the semiconductor memory industry
3.4.2 Impact of IoT
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls and challenges
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
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About Global Market Insights Inc.
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.