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Semiconductor Memory Market To Surpass US$ 43.27 Bn By 2030

Semiconductor Memory Market To Surpass US$ 43.27 Bn By 2030 - Coherent Market Insights

Publish On: May 10, 2023

APAC held dominant position in the Global Semiconductor Memory Market in 2022, accounting for 5.5% share in terms of value, followed by North America, Europe, and Row respectively. Our market projections and predictions are produced using simulation models. For each research, a special model is developed and tailored. The model is fed data on market dynamics, the technological landscape, application development, and pricing trends, and these data are all concurrently analysed. These variables are examined in comparison, and correlation, regression, and time series analysis are used to quantify their effect over the forecast period. Market forecasting is carried out using a mix of technological research, economic tools, and domain knowledge.

Global Semiconductor Memory Market: Drivers

Rising consumption of smartphone, especially in Middle East Constant fluctuations in raw material supply Rapid development in automotive technology The demand for smartphones has increased significantly in the recent past, especially in the Middle East, and North America. According to the GSM Association, in 2018, the number of mobile subscribers was xx billion, which 67% of the global population. Rapid digitalization and automation in the aforementioned regions have led to increased use of smartphones. The use of memory-based elements in technologically advanced products such as wearables smartphones is increasing rapidly. Thus, these factors are expected to drive growth of the global semiconductor memory market during the forecast period.

Global Semiconductor Memory Market: Restraints

Increasing demand for and uptake of internet of things (IoT) technologies has led to exceptional development in the semiconductor memory market. Increased investment in R&D is anticipated to offer the semiconductor memory industry even more alluring and lucrative growth possibilities. Along with technological advancements, the greater use of high capacity and low power memory is a major driver of the semiconductor memory market growth rate. The increased demand for semiconductor memory from the electronics sector will raise market value. The prevalence of electronic devices like smartphones, tablets, laptops, desktops, and other devices will increase over time, which will increase the demand for semiconductor memory.

Global Semiconductor Memory Market- Impact of Coronavirus (Covid-19) Pandemic

In the modern era, the COVID-19 problem is unprecedented.While stagnant consumer demand caused the recession during the financial crisis from 2007 to 2008, the COVID-19 situation caused a shock to both worldwide demand and supply, posing a dual challenge. It is challenging to extrapolate from previous crises to make predictions because of this unusual occurrence.However, this article aims to offer advice on how semiconductor demand will change in the short- and medium-term, taking into account in-depth surveys, analysis of the

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Key Takeaways:

The was valued at US$ 28.24 Bn in 2022 and is forecast to reach a value of US$ 43.27 Bn by 2030 at a CAGR of 5.5% between 2023 and 2030.

Global Semiconductor Memory Market: Competitive Landscape   

Microchip Technology, Inc., SK Hynix, Inc., NXP Semiconductors, Samsung Electronics Co., Ltd., Intel Corporation, Infineon Technologies AG, Cypress Semiconductor Corporation, Renesas Electronics Corporation, Semiconductor Manufacturing International Corporation (SMIC), Taiwan Semiconductor Manufacturing Company Limited (TSMC), Texas Instruments Incorporated, Toshiba Corporation, and Western Digital Corporation

Global Semiconductor Memory Market: Recent Developments

In March 2022  anticipation of possible growth in the manufacture of its patented 3D Flash memory BiCSFLASHTM, memory solutions provider Kioxia Corporation announced it may start construction on a state-of-the-art new fabrication facility at its KitakamiPlant in Japan. Construction of this facility is expected to begin in April 2022 and end in 2023.

In Dec 2021 Micron Technology announced plans open a new memory design centre in Midtown Atlanta, boosting its footprint in the Southeast of the United States. Micron intends to establish fruitful partnerships with the several universities in the region, including Georgia Tech, Emory University, Spelman College, Morehouse College, and the University of Georgia.

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