Next generation memory technologies include memories that have either emerged as an alternative to existing mass production memories (Flash, DRAM, SRAM, etc.) or offer better features and are anticipated to replace the existing mass production memories in the near future. These technologies offer various advantages such as high read/write frequency, higher endurance and scalability, and more. Next generation memory technologies are considered as replacements for traditional memories.
The global Next generation memory technologies market is expected to surpass US$ 153082.3 Mn in terms of value by the end of 2028
Global Next Generation Memory Technologies Market: Drivers
Increasing demand for enterprise storage applications is expected to drive growth of the global next generation memory technologies market during the forecast period
Currently, data centers are growing rapidly across the globe. Growing requirement of data storage capabilities in cloud storage and data centers has led to increased demand for next generation memory technologies in enterprise storage. Therefore, these factors are expected to drive growth of the global next generation memory technologies market during the forecast period.
Global Next Generation Memory Technologies Market: Opportunities
Rising use of nonvolatile memory in smartphones can present lucrative growth opportunities in the global generation memory technologies market
NAND memory is widely used in smartphones and wireless technologies. Since wearable and smart devices need high data transfer, next generation memory technologies are widely preferred. These technologies can provide higher memory capacity, which is compatible with smart devices. Key companies in the market can capitalize on these opportunities and gain a competitive edge in the market.
Global Next Generation Memory Technologies Market: Recent Developments
In August 2021, Samsung Electronics launched processing-in-memory (PIM), a next-generation intelligent semiconductor that converges memory and system chips enabling computing task inside memory.
Global Next Generation Memory Technologies Market: Restraints
Challenges related to niche application and high cost of emerging memory technologies are expected to hinder the global next generation memory technologies market growth over the forecast period
There are certain shortcomings related to next generation memory technology’s compatibility with niche applications. Besides, emerging memory technologies are significantly expensive as compared to conventional memory technologies. These factors are expected to hinder the global next generation memory technologies market growth over the forecast period.
Global Next Generation Memory Technologies Market - Impact of Coronavirus (Covid-19) Pandemic
The emergence of Covid-19 has led to adoption of Artificial Intelligence and Big Memory in various sectors to help streamline logistics and other operations. For instance, in March 2021, MemVerge, a provider of Big Memory software and Analytical BioSciences Ltd., a single cell genomics company, announced accelerating the time-to-results for single-cell RNA sequencing (scRNA-seq) analysis by using Big Memory technology. Such scenario is expected to boost adoption of generation memory technologies.
North America Trends
Among regions, North America is expected to witness significant growth in the global next generation memory technologies market during the forecast period. This is owing to increasing demand for nonvolatile memory technology across the region. Furthermore, the large presence of major market players such as Avalanche Technology, Inc., Everspin Technologies, Inc., and Adesto Technologies Corporation Inc. across the region is expected to accelerate the North America next generation memory technologies market growth over the forecast period.
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Asia Pacific Trends
Asia Pacific is expected to register robust growth rate in the global next generation memory technologies market over the forecast period. This is owing to increasing use of smartphones, tablets, and other connected devices across the region. Moreover, the major presence of key market players such as Samsung Electronics, Ltd., SK Hynix Inc., and Fujitsu Ltd. across the region is expected to boost the regional market growth over the forecast period.
Major companies operating in the global next generation memory technologies market are Micron Technology, Inc., Fujitsu Ltd., Everspin Technologies, Inc., Winbond Electronics Corporation, SK Hynix Inc., Cypress Semiconductor Corporation, Avalanche Technology, Inc., Adesto Technologies Corporation Inc., and Samsung Electronics Co. Ltd.
Key market players are involved in contracts and agreements, in order to gain a significant advantage in the market. For instance, in February 2020, SK Hynix Inc. entered into a new patent and technology license agreement with Xperi Corporation for the technology transfer of DBI Ultra for next generation memory.
Major market players are focused on partnerships and collaborations, in order to enhance the market presence. For instance, in August 2018, Avalanche Technology, Inc. partnered with United Microelectronics Corporation (UMC) for MRAM development and 28nm production.