USD 210.9 billion
Memory Chip Market Size, Share, Growth Analysis, By Type(Non-Volatile and Volatile.), By Application(Laptop/PC, Camera, Smartphones and Others), By Sales Channel(OEM and Aftermarket), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45N2101 |
Region:
Global |
Published Date: May, 2024
Pages:
199
|Tables:
86
|Figures:
76
Memory Chip Market Insights
Memory Chip Market size was valued at USD 210.9 billion in 2022 and is poised to grow from USD 274 billion in 2023 to USD 781 billion by 2031, growing at a CAGR of 14.1% in the forecast period (2024-2031).
The global memory chip market is currently witnessing substantial expansion, largely driven by the escalating demand for memory and storage devices within next generation connected automobiles and automotive safety systems. These systems heavily rely on semiconductor memory for digital data retention, rendering semiconductor memory an indispensable component in devices housing processors or controllers.
Furthermore, the rapidly growing establishments of data centers on a global scale, coupled with the escalating storage requisites of diverse enterprises, is driving the need for semiconductor-based memory devices. Notably, colocation and hyperscale data centers, particularly prevalent in developed nations, are fueling the demand for semiconductor memory to effectively manage and store extensive volumes of corporate data.
The Asia-Pacific region commands a significant share in the memory chip market, owing primarily to its robust consumer electronics industry and a pronounced focus on upscale electronic devices. The region's endeavors to achieve dominance in 5G mobile phone shipments within the domestic market by 2024, alongside the steadfast growth of prominent computer, communications, and electronic device manufacturers, are instrumental in its market primacy. Furthermore, China's concerted efforts in exporting consumer electronic devices and expanding cross-border e-commerce ventures serve to further bolster its standing in the memory chip market.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Non-Volatile
Fastest Growth
Volatile
Growth Rate
14.1% CAGR
Global Memory Chip Market ($ Bn)
Country Share for Asia-Pacific Region (%)
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Memory Chip Market Segmental Analysis
The global memory chip market is segmented by type, application, sales channel and region. Based on type, the market can be segmented into non- volatile and volatile. Based on application, the market is segmented into laptop/PC, camera, smartphones and others. Based on sales channel, the market can be segmented into OEM and aftermarket. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa.
Analysis by Type
Based on type, the market can be segmented into non-volatile and volatile. The leading market segment in the global memory chip market is non-volatile memory. Non-volatile memory, particularly NAND Flash memory, has been in high demand due to its role in various applications such as smartphones, solid-state drives (SSDs), digital cameras, USB flash drives, and many other consumer electronics devices. The demand is primarily driven by the exponential growth in data storage needs and fuelled by trends like cloud computing, big data analytics, artificial intelligence, and the Internet of Things. Additionally, non-volatile memory offers advantages such as high reliability, low power consumption, fast read/write speeds, and scalability, making it indispensable for modern digital infrastructure and devices. As a result, the market for non-volatile memory continues to experience robust growth and is expected to remain the leading segment in the memory chip market for the foreseeable future.
The volatile memory segment, particularly Dynamic Random Access Memory (DRAM), is often considered the fastest-growing segment in the memory chip market. This growth can be attributed to several factors. Firstly, the increasing demand for high-performance computing systems, such as data centres, artificial intelligence, and gaming platforms, drives the need for large quantities of fast-access memory. Additionally, the proliferation of mobile devices and the IoT necessitates smaller, more power-efficient volatile memory solutions. Moreover, advancements in technologies like 5G networks and edge computing further fuel the demand for volatile memory to support real-time data processing and responsiveness. These factors together contribute to the rapid expansion of the volatile memory market, making it a key focus area for memory chip manufacturers and driving continuous innovation in this segment.
Analysis by Application
Based on application, the market is segmented into laptop/PC, camera, smartphones and others. The laptop/PC segment has traditionally been one of the leading markets in the memory chip industry. This segment remains in high demand due to several factors. Laptops and PCs are fundamental tools in both personal and professional settings, serving as primary devices for work, education, entertainment, and communication. As these devices become more powerful and versatile, there is a growing need for higher memory capacity to support multitasking, multimedia content creation, and advanced software applications. Additionally, the transition to remote work and digital learning, accelerated by global events such as the COVID-19 pandemic, has further boosted the demand for laptops and PCs, driving increased sales and upgrades. Furthermore, the continuous evolution of technology, including the development of new processor architectures and software advancements, necessitates memory chips with faster speeds, higher capacities, and greater energy efficiency to keep pace with the demands of modern computing.
The smartphone segment is widely regarded as the fastest-growing market in the memory chip industry. The global proliferation of smartphones has been exponential, with these devices becoming indispensable tools for communication, entertainment, productivity and more. As consumers are increasingly getting dependent on smartphones for a wide range of activities, there is a corresponding need for higher-performing memory chips to support the growing complexity of mobile applications, including gaming, multimedia streaming, augmented reality and AI. Also, with the expansion of 5G networks and the IoT ecosystem further drives demand for memory chips in smartphones, as these technologies require faster data processing and more robust memory solutions. Furthermore, smartphone manufacturers continually strive to enhance user experience by offering devices with larger storage capacities, faster data transfer speeds, and improved multitasking capabilities, all of which contribute to the sustained growth of the smartphone memory chip market.
Analysis by Sales Channel
Based on sales channel, the market can be segmented into OEM and aftermarket. The OEM sales channel typically stands as the leading market in the memory chip industry. OEM sales involve bulk purchases directly from manufacturers by companies producing electronic devices such as smartphones, laptops, PCs, servers, and more. These manufacturers require a steady and reliable supply of memory chips to meet the demand for their products, which are essential components of modern technology. Also, OEM sales often involve long-term contracts and partnerships, providing stability and predictability for memory chip manufacturers. And the increasing demand for electronic devices across various industries, including consumer electronics, automotive, healthcare, and telecommunications, continuously drives the need for memory chips through OEM channels.
The aftermarket segment is often considered the fastest-growing market in the memory chip industry due to many reasons. Rapid technological advancements result in frequent upgrades and replacements of memory chips in existing electronic devices such as computers, smartphones, gaming consoles, and servers. As consumers and businesses seek to enhance the performance and storage capacity of their devices, there is a consistent demand for aftermarket memory chips. Additionally, the aftermarket offers a wide range of options in terms of memory chip brands, capacities, and specifications, catering to diverse customer preferences and requirements. Moreover, the increasing popularity of DIY (do-it-yourself) upgrades and repairs among tech-savvy consumers contributes to the growth of the aftermarket segment. Furthermore, the rise of e-commerce platforms and online retailers provides convenient access to aftermarket memory chips, further fuelling the segment's expansion.
Global Memory Chip Market By Type
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Memory Chip Market Regional Insights
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa. The Asia Pacific region stands as the leading and the fastest-growing market in the memory chip industry. Asia Pacific consists of some of the world's largest semiconductor manufacturers, including companies based in South Korea, Taiwan, China, and Japan. These companies play a crucial role in supplying memory chips to global electronics manufacturers and meeting the soaring demand for electronic devices worldwide. Additionally, the Asia Pacific region has a massive consumer electronics market, fueled by the rising disposable income, urbanization, and technological advancements across countries like China and India. Moreover, the proliferation of smartphones, laptops, tablets, and other digital devices in Asia Pacific further drives the demand for memory chips. Furthermore, the region's robust manufacturing ecosystem, supportive government policies, and investments in research and development contribute to its leadership position in the memory chip market.
After the Asia-Pacific (APAC) region, North America is considered the next fastest-leading region in the memory chip market. North America has a strong technology sector, including prominent semiconductor manufacturers and research institutions. The region is home to major players such as Intel Corporation, Micron Technology and NVIDIA Corporation, which contribute significantly to the development and innovation of memory chip technologies. Additionally, North America's advanced infrastructure, robust consumer electronics market, and increasing adoption of emerging technologies like AI, IoT, and cloud computing drive the demand for memory chips. Moreover, the presence of large data center operators and cloud service providers in North America further fuels the demand for memory chips, supporting the region's position as a key player in the global memory chip market.
Global Memory Chip Market By Type
- Largest
- Fastest
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Memory Chip Market Dynamics
Drivers
Growth of Data Centers and Cloud Computing
- The expansion of data centres and the adoption of cloud computing services drive the demand for memory chips used in servers and storage systems to handle vast amounts of data generated by online services, social media platforms, e-commerce, and enterprise applications.
Emergence of 5G Technology
- The rollout of 5G networks worldwide drives the demand for memory chips in smartphones, base stations, and networking equipment to support faster data speeds, lower latency, and increased network capacity.
Rising Internet Penetration and Digital Transformation
- Increasing internet penetration rates and the ongoing digital transformation across industries drive the demand for memory chips in devices and infrastructure supporting digital services, online communication, e-commerce, remote work, and digital entertainment.
Restraints
Intellectual Property Rights and Patent Litigation
- Intellectual property disputes, patent infringement claims, and legal battles between companies in the semiconductor industry can result in costly litigation and regulatory challenges.
Cyclical Nature of the Semiconductor Industry
- The memory chip market is cyclical, characterized by periods of high demand followed by oversupply, leading to price volatility and potential revenue fluctuations for manufacturers.
Supply Chain Disruptions
- Disruptions in the semiconductor supply chain, such as shortages of raw materials, equipment, or skilled labour, can impact production capacity and lead to delays in meeting customer demand.
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Memory Chip Market Competitive Landscape
The global memory chip market is characterized by intense competition among several key players, primarily dominated by companies based in regions like South Korea, the US, Taiwan, and Japan. Samsung Electronics, SK Hynix, and Micron Technology emerge as the top-tier competitors, collectively commanding a significant share of the market. These companies fiercely compete in terms of technological innovation, production capacity, and cost efficiency to maintain their market leadership. Additionally, Intel Corporation, Taiwan Semiconductor Manufacturing Company (TSMC), and Western Digital Corporation play crucial roles in specific segments such as NAND Flash memory, microprocessors, and storage solutions, respectively. Beyond these giants, a multitude of smaller players and emerging startups contribute to the competitive landscape, often focusing on niche markets or specialized memory technologies. The competitive dynamics are further influenced by factors like industry consolidation, government policies, intellectual property rights, and shifts in consumer demand for various electronic devices.
Top Player’s Company Profiles
- Samsung Electronics Co., Ltd. (South Korea)
- SK Hynix Inc. (South Korea)
- Micron Technology, Inc. (US)
- Intel Corporation (US)
- Taiwan Semiconductor Manufacturing Company Limited (TSMC) (Taiwan)
- Western Digital Corporation (US)
- Kioxia Holdings Corporation (Japan)
- NXP Semiconductors N.V. (Netherlands)
- Broadcom Inc. (US)
- Qualcomm Incorporated (US)
- Advanced Micro Devices, Inc. (AMD) (US)
- Sony Corporation (Japan)
- NVIDIA Corporation (US)
- Infineon Technologies AG (Germany)
- Toshiba Memory Corporation (Japan)
- Macronix International Co., Ltd. (Taiwan)
- Renesas Electronics Corporation (Japan)
- Cypress Semiconductor Corporation (US)
- Silicon Motion Technology Corporation (Taiwan)
- ON Semiconductor Corporation (US)
Recent Developments
- In April 2023, Intel Corporation announced plans to invest $20 billion in a new semiconductor manufacturing facility in Ohio, USA, dedicated to producing advanced memory chips. The facility will focus on manufacturing cutting-edge memory technologies such as 3D NAND Flash and Optane memory, aiming to address the growing demand for high-performance storage solutions in data centres, AI applications, and edge computing.
- In August 2022, Samsung Electronics unveiled its latest generation of V-NAND Flash memory chips, featuring a breakthrough in vertical stacking technology. The new V-NAND chips achieve higher storage capacities and improved performance while maintaining energy efficiency, enabling faster data processing and lower power consumption in smartphones, SSDs, and other electronic devices. Samsung's continued innovation in V-NAND technology reinforces its leadership position in the memory chip market.
- In December 2021, Micron Technology announced the opening of a new state-of-the-art memory design center in Midtown Atlanta, which commenced operations in January 2022. This 93,000-square-foot facility includes offices, a data center, and research and development operations, creating 500 jobs in the region. The center is a key part of Micron's global technology and product development infrastructure, with a focus on memory and storage research and development.
Memory Chip Key Market Trends
- Expansion of 5G and IoT Networks: The rollout of 5G networks and the increasing adoption of IoT devices drive demand for memory chips in smartphones, IoT sensors, connected devices, and network infrastructure, presenting opportunities for manufacturers to develop specialized memory solutions optimized for 5G and IoT applications.
- Cloud Computing and Data Centers: The growth of cloud computing services and the expansion of data centers create opportunities for memory chip manufacturers to develop high-capacity, high-speed memory solutions optimized for cloud storage, data processing, and virtualization applications.
- Artificial Intelligence and Machine Learning: Memory chips are essential components in AI and machine learning systems, where they are used for data storage, caching, and accelerating computation tasks. Opportunities exist for manufacturers to develop memory solutions optimized for AI workloads, such as high-bandwidth memory (HBM) and non-volatile memory (NVM) technologies.
Memory Chip Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Memory chips market analysis, the memory chip market is poised for significant growth, driven by diverse factors across various segments. Technological advancements and increasing demand for memory and storage devices in next generation connected cars, automotive safety systems, and data centers underscore the market's robust expansion. Based on region, the Asia-Pacific region's dominance, propelled by its thriving consumer electronics industry and concerted efforts in 5G adoption and export-oriented strategies, particularly evident in China. However, the market faces restraints such as cyclical industry trends and supply chain disruptions. Despite these challenges, opportunities abound, particularly in emerging technologies, edge computing, 5G networks, and environmental sustainability initiatives.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 210.9 billion |
| Market size value in 2031 | USD 781 billion |
| Growth Rate | 14.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Memory Chip Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Memory Chip Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Memory Chip Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Memory Chip Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Memory Chip Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Memory Chip Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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