Next-Generation Memory Market: Current Analysis and Forecast (2022-2028)

Global Next-Generation Memory Market is expected to grow at a significant rate of around 26% during the forecast period. Next Generation Memory is the most advanced memory technology used in the computer industry. Big data analytics, Internet of Things (IoT), and artificial intelligence (AI). Next-generation memory comes with significant hardware and software upgrades for your storage device. Next-generation memory is being introduced in response to the growing demand for faster and lower-cost memory technology. It offers better features and is expected to replace the existing mass-production memories in the near future. These memories are also carving out niche application areas for themselves and are poised to become mainstream in the near future.

The growing adoption of next-generation memories are mainly attributed to the growing demand of big data and universal memory devices. Furthermore, increasing demand for organizational storage applications and growing need for high bandwidth are expected to influence the market growth. Moreover, the growing prominence of low power consumption and a highly scalable memory device for technologies such as AI, IoT, and Big Data. For instance, according to Botco.ai, 40% of businesses increased their budgets for chatbots and intelligent virtual assistants in 2021.

Avalanche Technology, Crossbar Inc, Infineon Technologies AG, Intel Corporation, Micron Technology Inc, Nantero Inc., SAMSUNG, SK HYNIX INC, and Spin Memory Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst type, volatile category to witness robust CAGR during the forecast period"

Based on type, the market is segmented into non-volatile and volatile. The volatile memory segment is expected to grow with a significant CAGR during the forecast period. Volatile memory incorporates memories advanced storage technologies such as hybrid-Memory Cube (HMC) and High-bandwidth memory (HBM). Moreover, data processing Via volatile memory is fast and consumes less energy. These factors are expected to drive the market during the forecast period.

"Amongst application, the consumer electronics to grow with a significant CAGR during the forecast period"

On the basis of application, the market is classified into BFSI, consumer electronics, government, telecommunications, information technology, and other application. The consumer electronics segment is expected to grow with a significant CAGR during the forecast period. Consumer electronics include devices such as mobile phones, smartphones, laptops, iPods, tablets, and others. The growing prominence of consumer electronics is expected to drive the market during the forecast period. For instance, according to gsma, in 2021, the global number of active mobile internet subscribers reached 4.2 billion.

"Asia Pacific to hold a significant share in the market"

The Asia Pacific region is expected to lead the next-generation memory market during the forecast period. The growing adoption in the region is mainly attributed to the growing prominence of consumer electronics/smart devices in the countries like China and India. Furthermore, the increasing numbers of Chinese semiconductor manufacturers are expected to drive the market during the forecast period. For instance, according to the world's top exports, China was the world's largest smartphone exporter in the year 2021. Moreover, the growing investments and technological advancements in countries like Vietnam and South Korea are expected to drive the market in the region.

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The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

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The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

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