Semiconductor Memory Market Key Players Analysis 2031
The semiconductor memory market size is projected to reach US$ 337.73 billion by 2031 from US$ 147.95 billion in 2023. The market is expected to register a CAGR of 10.9 % in 2023–2031. The Internet of Things (IoT) incorporation into a variety of industrial applications is likely to remain a key semiconductor memory market trend.
Semiconductor Memory Market Analysis
The semiconductor memory market is a dynamic and quickly evolving industry that is essential to many different industries, such as automotive, enterprise storage, and consumer electronics. The market is expanding due to the growing need for memory solutions that are both energy-efficient and high-performing as data-intensive applications become more common and cutting-edge technologies like artificial intelligence and machine learning advance. There is a strong need for memory solutions with the ability to handle large amounts of data quickly and efficiently. The market is characterized by fierce competition between big players like Micron, Samsung, and SK Hynix. These businesses consistently invest in R&D to provide cutting-edge memory solutions to the market.
Semiconductor Memory Market Overview
Semiconductor memory is a sort of semiconductor device employed for storing data. Two types of electronic data storage mediums can be practiced, namely optical or magnetic. Two major types can be employed for semiconductor technology, such as Random Access Memory and Read-Only Memory. The widespread use of semiconductor memory is fuelled by its remarkable properties, such as high storage density, fast access time, lower power consumption, and scalability. Semiconductor memory is the invisible foundation of the digital world and can be found in everything from smartphones and computers to complex systems.
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Semiconductor Memory Market: Strategic Insights
Market Size Value in US$ 134.5 billion in 2022 Market Size Value by US$ 308.2 billion by 2030 Growth rate CAGR of 10.9% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Semiconductor Memory Market: Strategic Insights
| Market Size Value in | US$ 134.5 billion in 2022 |
| Market Size Value by | US$ 308.2 billion by 2030 |
| Growth rate | CAGR of 10.9% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Semiconductor Memory Market Drivers and Opportunities
Increasing adoption of smartphones
As smartphone ownership has increased in both advanced and emerging economies, the growth has often been uneven. Smartphones have become nearly ubiquitous in developed nations across the world. In fact, nearly three-quarters of the top 10 developed countries’ populations own a smartphone. Globally, almost 90% of cellular phones are smartphones. And the majority of the world’s population currently owns one. There are currently over 6.5 billion smartphones worldwide — a number that’s projected to increase in the coming years. In fact, worldwide smartphone sales grew a considerable 10.8% in Q2 2021 alone. Therefore, with the increasing adoption of smartphones, the market is growing significantly.
Increasing development in automotive technologies
The evolution of technology has played a vital role in the development of many sectors across the globe, and the automotive industry is no exception. With the invention of power trains and now self-propelled vehicles, the industry has witnessed a drastic shift due to technological advancements. At present, cars have become integral products, highlighting a variety of components and multiple technologies linked to each other. The scope of advancement has moved from mechanics to telematics and electronics. High-grade legacy node semiconductors fine-tune preinstalled systems in the vehicle. The semiconductor is also used to process and sense key data of the vehicle's computing system, leading to reliable, accurate, and timely control of the vehicle. Thus, the increasing development in automotive technologies is anticipated to present new opportunities for the semiconductor memory market players during the forecast period.
Semiconductor Memory Market Report Segmentation Analysis
Key segments that contributed to the derivation of the semiconductor memory market analysis are type and end-user.
- Based on the type, the semiconductor memory market is segmented into RAM and ROM.
- By end-use industry, the market is segmented into aerospace & defense, automotive, consumer electronics, industrial, telecommunications, and others.
Semiconductor Memory Market Share Analysis by Geography
The geographic scope of the semiconductor memory market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. In terms of revenue, APAC accounted for the largest semiconductor memory market share. The semiconductor memory market is dominated by the APAC region, mainly because of the presence of significant semiconductor manufacturers in nations such as South Korea. China and Taiwan. The strong consumer electronics market in the area and the uptake of cutting-edge technology have boosted the need for semiconductor memory.
Semiconductor Memory Market Report Scope
Semiconductor Memory Market News and Recent Developments
The semiconductor memory market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
- In February 2024, Micron Technology started mass production of its high-bandwidth memory (HBM) semiconductors for use in Nvidia's latest chip for artificial intelligence, sending its shares up more than 5%. (Source: Micron, Press Release)
- In Jan 2024, Samsung, the world's biggest memory chip maker, opened a new semiconductor chip research lab in Silicon Valley, USA. This research lab comes under the DSA (Device Solutions America) arm of Samsung Electronics, and it will focus on developing the next-generation 3D DRAM technology. (Source: Samsung, Press Release)
Semiconductor Memory Market Report Coverage and Deliverables
The “Semiconductor Memory Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, End-use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global semiconductor memory market is expected to reach US$ 337.73 billion by 2031.
The key players holding majority shares in the global semiconductor memory market are Cypress Semiconductor Corporation, FUJITSU, International Business Machines Corporation, Microchip Technology Inc., and Micron Technology, Inc.
The Internet of Things (IoT) incorporation into a variety of industrial applications is anticipated to play a significant role in the global semiconductor memory market in the coming years.
The increasing adoption of air pollution control equipment and the increasing frequency of airborne diseases are the major factors that propel the global semiconductor memory market.
The global semiconductor memory market was estimated to be US$ 147.95 billion in 2023 and is expected to grow at a CAGR of 10.9 % during the forecast period 2023 - 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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