Memory Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The global memory market is on the verge of significant expansion, propelled by rapid technological advancements and growing demand across various sectors. Semiconductor memory products are integral to numerous electronic devices, including smartphones, flat-screen displays, and LED televisions, as well as in the aerospace and military sectors. With the rise of biometric technology and the increasing popularity of high-tech products such as wearable devices, the memory market is set to thrive. By 2024, the market size is projected to reach approximately $257.79 billion, and by 2031, it is expected to soar to $430.62 billion, reflecting a robust CAGR of 7.60%.

Market Size and Growth Projections

The global memory market is anticipated to experience substantial growth by 2024, continuing its significant expansion well into 2031. Historically, the market has shown impressive growth, driven by strong demand and ongoing technological developments. The coming decade is expected to witness a robust growth trajectory, underscoring the market's dynamic nature.

Technological Advancements and Industry Impact

The rapid expansion of the memory industry is fueled by the surging demand for smartphones and other high-tech products, including wearable technology. Companies are investing heavily in cutting-edge memory technologies to gain a competitive edge. For example, SK Hynix's collaboration with Keysight Technologies, Inc. for PCIe 5.0 test platforms aims to accelerate the development of advanced memory semiconductors. These semiconductors are crucial for creating high-performance products capable of managing vast amounts of data and supporting high data rates.

Innovations in memory technology have significantly enhanced storage capabilities, allowing for the accommodation of large data volumes at lower costs without relying on expensive silicon chips. These technologies are increasingly popular in consumer electronics, including notebooks, cell phones, and digital cameras.

Leading industry players are driving the memory market forward with significant advancements. United Microelectronics Corporation, a top semiconductor foundry, enables customers to integrate low-power, high-performance, and low-latency embedded MRAM memory blocks into multipoint control units and systems on chips. These advancements target sectors such as the Internet of Things (IoT), wearables, and consumer electronics. The company's STT-MRAM blocks are embedded and non-volatile, using a complementary metal-oxide-semiconductor (CMOS) manufacturing process.

Regional Insights and Opportunities

North America is poised to offer lucrative opportunities in the memory market. The region's market size is expected to increase significantly, surpassing higher values by the end of the forecast period. Micron Technology Inc.'s development of the 9400 NVMe SSD drives, designed for efficient data center workloads with substantial storage capacity and improved power efficiency, exemplifies this trend. Leading North American companies are investing in research and development to introduce high-performance memory storage devices, driving growth in the region's flash memory market.

In the United States, the memory market is projected to achieve significant growth, with a substantial value anticipated by the forecast's conclusion. The country is expected to create a notable absolute dollar opportunity. In collaboration with AMD, Micron Technology Inc. is providing high-performance computing technology, incorporating Micron DDR5 data center memory and AMD's 4th GEN EPYC processors for applications in weather forecasting and meteorology.

The memory chip market in the United Kingdom is forecasted to grow robustly, building on substantial historical growth. The market is expected to reach a significant valuation by the end of the forecast period. Companies like Udisys offer a range of memory solutions, including flash memory cards, managed NAND, and industrial DRAM modules, bolstering the market due to the presence of leading memory semiconductor firms in the country.

South Korea's next-generation memory market is poised to create considerable dollar opportunities, showing strong growth potential. Samsung Electronics Co Ltd has introduced the industry's first DDR5 DRAM based on 12 nm class process technology, featuring improved power efficiency. Innovations like these are expected to drive memory sales in South Korea.

Japan's memory industry is anticipated to exceed significant market values by the end of the forecast period, reflecting strong growth. ROHM Co Ltd has developed various memory solutions, including DRAM, EEPROM, and NOR flash memories, serving diverse industries such as automotive, industrial equipment, and PC gaming and communication.

Application Insights

Consumer Products

The consumer products segment is expected to experience considerable growth, continuing its strong historical performance. The demand for memory in gaming PCs, laptops, smartwatches, and smartphones is driving this growth. For instance, Apple Inc.'s iPhone 14 features substantial RAM and A15 bionic memory, while Samsung Electronics Co Ltd offers significant RAM in its Galaxy Z Fold3 smartphones. These advancements highlight the growing importance and application of memory in consumer electronics.

Key Market Players:

Samsung Electronics Co. Ltd
Micron Technology Inc.
SK Hynix Inc.
ROHM Co. Ltd.
STMicroelectronics NV
KIOXIA Corporation
Fujitsu Ltd.
Kingston Technology Co. Inc.
Integrated Silicon Solution Inc.
Etron Technology Inc.

Market Segmentation

By Type:

Dynamic Random Access Memory (DRAM)
Static Random Access Memory (SRAM)
NOR Flash
NAND Flash
Read-only Memory (ROM)
Electrically Erasable Programmable Read-only Memory (EEPROM)
Others

By Application:

Consumer Products
Personal Computers/Laptop
Smartphone/Tablet
Data Center
Automotive
Other Applications

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

1. Executive Summary

1.1. Global Memory Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Price Analysis, 2019-2023

3.1. Global Average Price Analysis, by Type, US$ Per Unit, 2019-2023
3.2. Prominent Factor Affecting Memory Prices
3.3. Global Average Price Analysis, by Region, US$ Per Unit

4. Global Memory Market Outlook, 2019-2031

4.1. Global Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Dynamic Random Access Memory (DRAM)
  - 4.1.1.2. Static Random Access Memory (SRAM)
  - 4.1.1.3. NOR Flash
  - 4.1.1.4. NAND Flash
  - 4.1.1.5. Read-only Memory (ROM)
  - 4.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
  - 4.1.1.7. Others
4.2. Global Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Consumer Products
  - 4.2.1.2. Personal Computers/Laptop
  - 4.2.1.3. Smartphone/Tablet
  - 4.2.1.4. Data Center
  - 4.2.1.5. Automotive
  - 4.2.1.6. Other
4.3. Global Memory Market Outlook, by Region, Value (US$ Bn) and Volume (Units), 2019-2031
- 4.3.1. Key Highlights
  - 4.3.1.1. North America
  - 4.3.1.2. Europe
  - 4.3.1.3. Asia Pacific
  - 4.3.1.4. Latin America
  - 4.3.1.5. Middle East & Africa

5. North America Memory Market Outlook, 2019-2031

5.1. North America Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Dynamic Random Access Memory (DRAM)
  - 5.1.1.2. Static Random Access Memory (SRAM)
  - 5.1.1.3. NOR Flash
  - 5.1.1.4. NAND Flash
  - 5.1.1.5. Read-only Memory (ROM)
  - 5.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
  - 5.1.1.7. Others
5.2. North America Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Consumer Products
  - 5.2.1.2. Personal Computers/Laptop
  - 5.2.1.3. Smartphone/Tablet
  - 5.2.1.4. Data Center
  - 5.2.1.5. Automotive
  - 5.2.1.6. Other
5.3. North America Memory Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
- 5.3.1. Key Highlights
  - 5.3.1.1. U.S. Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 5.3.1.2. U.S. Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 5.3.1.3. Canada Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 5.3.1.4. Canada Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031

6. Europe Memory Market Outlook, 2019-2031

6.1. Europe Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Dynamic Random Access Memory (DRAM)
  - 6.1.1.2. Static Random Access Memory (SRAM)
  - 6.1.1.3. NOR Flash
  - 6.1.1.4. NAND Flash
  - 6.1.1.5. Read-only Memory (ROM)
  - 6.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
  - 6.1.1.7. Others
6.2. Europe Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Consumer Products
  - 6.2.1.2. Personal Computers/Laptop
  - 6.2.1.3. Smartphone/Tablet
  - 6.2.1.4. Data Center
  - 6.2.1.5. Automotive
  - 6.2.1.6. Other
- 6.2.2. Attractiveness Analysis
6.3. Europe Memory Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Germany Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.2. Germany Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.3. U.K. Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.4. U.K. Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.5. France Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.6. France Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.7. Italy Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.8. Italy Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.9. Turkey Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.10. Turkey Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.11. Russia Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.12. Russia Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.13. Rest of Europe Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 6.3.1.14. Rest of Europe Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031

7. Asia Pacific Memory Market Outlook, 2019-2031

7.1. Asia Pacific Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Dynamic Random Access Memory (DRAM)
  - 7.1.1.2. Static Random Access Memory (SRAM)
  - 7.1.1.3. NOR Flash
  - 7.1.1.4. NAND Flash
  - 7.1.1.5. Read-only Memory (ROM)
  - 7.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
  - 7.1.1.7. Others
7.2. Asia Pacific Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Consumer Products
  - 7.2.1.2. Personal Computers/Laptop
  - 7.2.1.3. Smartphone/Tablet
  - 7.2.1.4. Data Center
  - 7.2.1.5. Automotive
  - 7.2.1.6. Other
7.3. Asia Pacific Memory Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
- 7.3.1. Key Highlights
  - 7.3.1.1. China Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 7.3.1.2. China Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 7.3.1.3. Japan Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 7.3.1.4. Japan Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 7.3.1.5. South Korea Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 7.3.1.6. South Korea Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 7.3.1.7. India Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 7.3.1.8. India Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 7.3.1.9. Southeast Asia Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 7.3.1.10. Southeast Asia Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 7.3.1.11. Rest of Asia Pacific Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 7.3.1.12. Rest of Asia Pacific Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031

8. Latin America Memory Market Outlook, 2019-2031

8.1. Latin America Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Dynamic Random Access Memory (DRAM)
  - 8.1.1.2. Static Random Access Memory (SRAM)
  - 8.1.1.3. NOR Flash
  - 8.1.1.4. NAND Flash
  - 8.1.1.5. Read-only Memory (ROM)
  - 8.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
  - 8.1.1.7. Others
8.2. Latin America Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Consumer Products
  - 8.2.1.2. Personal Computers/Laptop
  - 8.2.1.3. Smartphone/Tablet
  - 8.2.1.4. Data Center
  - 8.2.1.5. Automotive
  - 8.2.1.6. Other
8.3. Latin America Memory Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
- 8.3.1. Key Highlights
  - 8.3.1.1. Brazil Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 8.3.1.2. Brazil Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 8.3.1.3. Mexico Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 8.3.1.4. Mexico Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 8.3.1.5. Argentina Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 8.3.1.6. Argentina Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 8.3.1.7. Rest of Latin America Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 8.3.1.8. Rest of Latin America Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031

9. Middle East & Africa Memory Market Outlook, 2019-2031

9.1. Middle East & Africa Memory Market Outlook, by Type, Value (US$ Bn) and Volume (Units), 2019-2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Dynamic Random Access Memory (DRAM)
  - 9.1.1.2. Static Random Access Memory (SRAM)
  - 9.1.1.3. NOR Flash
  - 9.1.1.4. NAND Flash
  - 9.1.1.5. Read-only Memory (ROM)
  - 9.1.1.6. Electrically Erasable Programmable Read-only Memory (EEPROM)
  - 9.1.1.7. Others
9.2. Middle East & Africa Memory Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2019-2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Consumer Products
  - 9.2.1.2. Personal Computers/Laptop
  - 9.2.1.3. Smartphone/Tablet
  - 9.2.1.4. Data Center
  - 9.2.1.5. Automotive
  - 9.2.1.6. Other
9.3. Middle East & Africa Memory Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
- 9.3.1. Key Highlights
  - 9.3.1.1. GCC Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 9.3.1.2. GCC Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 9.3.1.3. South Africa Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 9.3.1.4. South Africa Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 9.3.1.5. Egypt Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 9.3.1.6. Egypt Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 9.3.1.7. Nigeria Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 9.3.1.8. Nigeria Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031
  - 9.3.1.9. Rest of Middle East & Africa Memory Market by Type, Value (US$ Bn) and Volume (Units), 2019-2031
  - 9.3.1.10. Rest of Middle East & Africa Memory Market by Application, Value (US$ Bn) and Volume (Units), 2019-2031

10. Competitive Landscape

10.1. By Application vs by Type Heatmap
10.2. Company Market Share Analysis, 2024
10.3. Competitive Dashboard
10.4. Company Profiles
- 10.4.1. Samsung Electronics Co. Ltd
  - 10.4.1.1. Company Overview
  - 10.4.1.2. Product Portfolio
  - 10.4.1.3. Financial Overview
  - 10.4.1.4. Business Strategies and Development
- 10.4.2. Micron Technology Inc.
  - 10.4.2.1. Company Overview
  - 10.4.2.2. Product Portfolio
  - 10.4.2.3. Financial Overview
  - 10.4.2.4. Business Strategies and Development
- 10.4.3. SK Hynix Inc.
  - 10.4.3.1. Company Overview
  - 10.4.3.2. Product Portfolio
  - 10.4.3.3. Financial Overview
  - 10.4.3.4. Business Strategies and Development
- 10.4.4. ROHM Co. Ltd.
  - 10.4.4.1. Company Overview
  - 10.4.4.2. Product Portfolio
  - 10.4.4.3. Financial Overview
  - 10.4.4.4. Business Strategies and Development
- 10.4.5. STMicroelectronics NV
  - 10.4.5.1. Company Overview
  - 10.4.5.2. Product Portfolio
  - 10.4.5.3. Financial Overview
  - 10.4.5.4. Business Strategies and Development
- 10.4.6. KIOXIA Corporation
  - 10.4.6.1. Company Overview
  - 10.4.6.2. Product Portfolio
  - 10.4.6.3. Financial Overview
  - 10.4.6.4. Business Strategies and Development
- 10.4.7. Fujitsu Ltd.
  - 10.4.7.1. Company Overview
  - 10.4.7.2. Product Portfolio
  - 10.4.7.3. Financial Overview
  - 10.4.7.4. Business Strategies and Development
- 10.4.8. Kingston Technology Co. Inc.
  - 10.4.8.1. Company Overview
  - 10.4.8.2. Product Portfolio
  - 10.4.8.3. Financial Overview
  - 10.4.8.4. Business Strategies and Development
- 10.4.9. Integrated Silicon Solution Inc.
  - 10.4.9.1. Company Overview
  - 10.4.9.2. Product Portfolio
  - 10.4.9.3. Financial Overview
  - 10.4.9.4. Business Strategies and Development
- 10.4.10. Etron Technology Inc.
  - 10.4.10.1. Company Overview
  - 10.4.10.2. Product Portfolio
  - 10.4.10.3. Financial Overview
  - 10.4.10.4. Business Strategies and Development