Global Flash Memory Market growing at a CAGR of 5.0% from 2023 to 2031
Category : Semiconductor And Electronics | Published Date : Oct 2023 | Type : Press Release
Key Market Overview
The Global Flash Memory Market was valued at USD 65.93 Billion in 2022, projected to grow by USD 67.67 Billion in 2023, and is expected to register a compound annual growth rate of 5.0% to reach USD 99.65 Billion in 2031.
The report highlights the increasing adoption of flash memory in consumer electronics, enterprise data centres, medical devices, and other sectors. Consegic Business Intelligence provides an inclusive research report on the flash memory market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Flash Memory Market By Overview
The report analyses significant segments such as type, end-user, and region, to identify emerging trends and potential opportunities. The type segment is expected to grow due to the increasing adoption of NAND flash memory in consumer electronics, medical devices, and other related applications. Moreover, the rising innovation associated with NOR flash memory for utilization in consumer devices, medical devices, and military & defence systems among others is expected to drive the market growth during the forecast period.
Get Free SampleMarket Dynamics
Driver:
- Rising utilization of flash memory in consumer electronics industry is driving the market growth.
- Increasing expansion of enterprise data centres is spurring the market growth.
Restraints:
- Availability of substitute is restraining the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | NAND Flash Memory and NOR Flash Memory |
| By End-User | Consumer Electronics, Enterprise, Medical, Military & Defense, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global flash memory market is highly competitive due to the presence of major players such as Samsung, STMicroelectronics, Micron Technology Inc., SK Hynix Inc., Infineon Technologies AG, and others operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in flash memory market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- Samsung
- STMicroelectronics
- Micron Technology Inc.
- Toshiba Corporation
- SK Hynix Inc.
- Intel Corporation
- Infineon Technologies AG
- Microchip Technology Inc.
- KIOXIA Holdings Corporation
- Renesas Electronics Corporation
