Dynamic Random Access Memory Market Size, Share, Growth Analysis, By Type(Synchronous DRAM, Extended Data Output, Burst Extended Data Output, others), By Technology(DDR4, DDR5, others), By Application(Mobiles. PCs/Laptops, Gaming Consoles, others), By Region - Industry Forecast 2024-2031

Dynamic Random Access Memory Market size was valued at USD 118.5 billion in 2019 and is poised to grow from USD 136.32 billion in 2023 to USD 360.22 billion by 2031, growing at a CAGR of 14.9% in the forecast period (2024-2031).

The extensive growth in the global data centers  and rapid development of semiconductor industries across the globe are the major factors driving the growth of global dynamic random access memory (DRAM) market over the forecast period. Currently modern society are shifting towards safe and advanced data storage systems with the increasing capabilities and processing power due to the continuously increasing adoption of modern communication technologies. As a result, the global demand for DRAM is anticipated to have a significant rise in the coming years.

Furthermore, the rising need for high-memory smartphones, laptops, and other devices coupled with the growing demand for rapid online operability are further expected to drive the growth for the global dynamic random access memory market during the forecast period. In addition, an extensive rise in the penetration rate for cloud computing and requirement for high speed communication from all over the world are likely to augment demand for DRAM, mainly in the data center infrastructures. For instance, Samsung launched its new and latest LPDDR5X DRAM chips for smartphones are other types of devices. It adds to the efficiency and improves the performance to the DRAM chips portfolio of the company.

Moreover, IoT refused semi-autonomous vehicles usually take real-time decisions to avoid the accidents and remove the load from the driver of the vehicle. Along with the cameras and proximity sensors, most of the cars are integrated with IoT systems to reduce the human error and make driving safer and comfortable. Thus, the global demand for DRAM has increased in the mobility solutions and technology like cloud computing AI IoT, and combined mobility are projected to boost the growth of the global dynamic random access memory market throughout the forecast period.

US Dynamic Random Access Memory Market  is poised to grow at a sustainable CAGR for the next forecast year.