Global NAND Flash Memory Market growing at a CAGR of 5.7% from 2023 to 2030
Category : Semiconductor And Electronics | Published Date : Jun 2023 | Type : Press Release
Key Market Overview
The NAND flash memory market is poised for strong expansion and is projected to reach USD 104.86 Billion by 2030. The market was sized at USD 68.62 Billion in 2022 and is predicted to grow at a compound annual growth rate of 5.7% during the period 2023-2030.
The report highlights the increasing adoption of NAND flash memory in various consumer electronics including smartphones and tablets for data storage. Consegic Business Intelligence provides an inclusive research report on the NAND flash memory market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global NAND Flash Memory Market By Overview
The report analyses significant segments such as type, structure, application, end-user, and region, to identify emerging trends and potential opportunities. The memory card segment is expected to grow during the forecast period as NAND flash memory offers a high capacity to capture and store several high-resolution images and videos without compromising the quality. Additionally, NAND flash memory enables smooth video recording and playback, ensuring that users capture and store high-quality videos without buffering. Subsequently, the ability of NAND flash in memory cards to provide portable and high-capacity storage solutions are expected to drive market growth in upcoming years.
Get Free SampleMarket Dynamics
Driver:
- Increasing demand of NAND flash memory for the storage of digital data including high-definition videos, photos, music, and documents is propelling the market growth.
- Rising need of NAND flash memory from data centers to support real-time data processing is accelerating the market growth.
- Growing demand of NAND flash memory from the aerospace industry for the storage of data even in the absence of power is boosting the market growth.
Restraints:
- Bit flipping leading to reduced efficiency of NAND flash memory is restraining the market growth.
- Presence of alternatives including 3D XPoint technology offering faster speed and low latency is hampering the growth of the NAND flash memory market.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | SLC (One Bit Per Cell), MLC (Multi Bit Per Cell), TLC (Three Bit Per Cell), and QLC (Quad Level Cell) |
| By Structure | 2-D Structure and 3-D Structure |
| By Application | Memory Card, Smartphone, SSD, Tablet, and Others |
| By End-User | Automotive, Consumer Electronics, Communication & Technology, and Manufacturing |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The landscape for NAND flash memory market is highly competitive with major players including ATP Electronics, Inc., Intel Corporation, KIOXIA Corporation, and Micron Technology Inc. that have a strong market position in current market circumstances. Further, the NAND flash memory market is expected to witness significant growth in coming years owing to the increasing adoption of flash memory in various space applications. The market players compete for a firm market position through mergers and acquisitions, Structure innovations, and business strategies. Thus, evolving research and developments in the NAND flash memory market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- ATP Electronics, Inc.
- Intel Corporation
- KIOXIA Corporation
- Micron Technology Inc.
- Powerchip Semiconductor Manufacturing Corp
- Renesas Electronics Corporation
- Samsung Electronics Co. Ltd.
- SK Hynix Inc.
- Western Digital Corporation
