Next-Generation Memory Market Scenario:
The global market for next-generation memory 2020 is all set to touch a whopping valuation of USD 8 billion by 2022-end, predict data experts at Market Research Future (MRFR). Analysts also expect the market to achieve a growth rate of 45% over the forecast period (2016 to 2022).
The latest non-volatile memory technologies, like STT-RAM, MRAM, phase-change memory (PCM), ReRAM, and FRAM, combine the density of DRAM, the non-volatility of flash memory as well as the speed of SRAM. These can possibly be some of the additions to the next-gen memory technologies. In addition, the rising adoption of Global Next-Generation Memory Market, as well as ADAS, can fuse the DRAM memory technologies, which could lead to better performance as well as reduced power consumption.
Demand for universal memory devices is at an all-time high, with most of the emerging memory technologies being turned into universal memories. All the high-end laptops are now making use of solid-state flash chips that have replaced massive mechanical hard disks, in addition to the cloud for backup instead of tape drives. To illustrate, Intel launched Optane, which makes use of 3D XPoint technology, which is similar to universal memory. The product is a flash drive with non-volatile memory, which is fast enough to work like a RAM.
Mounting demand for enterprise storage applications is also working in favor of the market. End-user industries like BFSI are making considerable investments in IoT technologies and are achieving great financial rewards. For example, embedded MRAM is touted to be a highly promising technology for applications like IoT. Additionally, other next-generation memories like 3D Xpoint provide 1,000 times faster speeds for transferring compared to the current SSDs. This can be one of the growth-inducing factors in the worldwide market.
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Major Leading Players:
Leading players shaping the market size of next-generation memory are Samsung Electronics Co., Ltd. (South Korea), Fujitsu Ltd. (Japan), IBM Corporation (U.S.), Toshiba Corporation (Japan), SK Hynix Semiconductor Inc. (South Korea), Intel Corporation (U.S.), Adesto Technologies Corporation, Inc. (U.S.), Micron Technology, Inc., SanDisk Corporation (U.S.), to mention a few.
In the backdrop of increasing advancements in wireless technologies, NAND memory is being extensively used in smart devices. Wearable devices require extremely high data transfer rate, and these requirements can be taken care of by next-generation memories which offer higher memory capacity. Companies like Everspin Technologies (US) and Adesto Technologies (US) are striving to offer dedicated emerging memory solutions for IoT as well as wearable devices.
The surge of Internet of Things (IoT) with enhanced network connectivity and data transfers can be a significant growth opportunity for the next-generation memory market. The rapid development of self-driving cars can also usher in a host of growth avenues in the next-generation memory market.
The market for next-generation memory has been segmented with respect to product and application.
The products analyzed in the report are nonvolatile memories as well as volatile memories.
With regard to application, the primary segments discussed in the report are IT and telecommunication, manufacturing, aerospace and defense, consumer electronics, and others.
Asia Pacific (APAC), North America, Europe, and the Middle East and Africa (MEA) are the primary markets for next-generation memory across the globe.
MRFR expects North America to maintain its lead in the global market for next-generation memory, mostly because of considerable investments in technologically advanced products combined with the rising adoption of DRAM, PCM, and MRAM memory. The well-developed IT industry is one of the chief factors driving the economy in the United States (U.S). The rapidly advancing technologies and the colossal data generation across different industries are boosting the demand for next-generation memory in the region. Also, the memory manufacturing vendors in the region are looking for opportunities that can help them expand their production. To cite a reference, Intel has already set up a fabrication plant in Arizona to manufacture next-generation memory and storage solutions.
APAC can note major growth from 2017 to 2022, primarily owing to the rising demand for smartphones and tablets along with the expansion of the manufacturing hub for wearable electronics. The burgeoning market for tablets and smartphones is driving the growth of the mobile random access memory (RAM) market, which is anticipated to boost the demand for next-generation memory in the region during the appraisal period.
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