by The global Next Generation Memory Technologies Market is estimated to be valued at Us$ 10567.41 Mn in 2023 and is expected to exhibit a CAGR Of 56.% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Next generation memory technologies are used to store data in various computing and electronic devices. They are faster and more energy efficient than existing memory technologies such as dynamic random-access memory (DRAM) and flash storage. Some of the next generation memory technologies include Ferromagnetic RAM (F-RAM), Phase-change memory (PCM), and Resistive RAM (ReRAM or RRAM). These memory technologies provide features such as faster read/write speeds, higher scalability, low power consumption and non-volatility as compared to DRAM and flash storage. Due to their advantages, next generation memory technologies are finding increasing usage in applications ranging from data centers and consumer electronics to automotive and industrial sectors.
Market key trends:
One of the key trends in the next generation memory technologies market is the development of 3D XPoint technology. 3D XPoint technology is a non-volatile, random access memory developed jointly by Intel and Micron Technology. It provides higher density, scalability, and performance over NAND and DRAM. 3D XPoint technology exhibits 1,000 times faster performance compared to NAND and 10 times greater density than conventional memory technologies. Major players like Intel are aggressively working towards commercializing 3D XPoint technology for various applications in the coming years, which is expected to fuel the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the requirement of huge R&D investment and manufacturing facilities for next generation memory technologies.
Bargaining power of buyers: The bargaining power of buyers is moderate as next generation memory technologies are necessities for various electronics.
Bargaining power of suppliers: The bargaining power of suppliers is low due to presence of various established manufacturers.
Threat of new substitutes: The threat of new substitutes is high as continuous innovations are being made in semiconductor industry for developing improved memory solutions.
Competitive rivalry: Fierce competition exists among key players to gain major market share.
Key Takeaways
The Global Next Generation Memory Technologies Market Size is expected to witness high growth, exhibiting CAGR of 56.% over the forecast period, due to increasing demand for universal memory solutions offering high storage capacity, low power consumption, and faster operation.
Regional analysis:
Asia Pacific dominates the Next Generation Memory Technologies market and is expected to continue its dominance over the forecast period. This is attributed to presence of manufacturing facilities of prominent players and growing electronics industry in countries such as China, Japan, South Korea and Taiwan. North America is anticipated to exhibit second highest market share owing to growing adoption of advanced technology and presence of key players in the region.
Key players operating in the 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 players are focused on new product launches, expansions, partnerships and mergers & acquisitions to strengthen their global footprint in the Next Generation Memory Technologies market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
