The global next gen memory market accounted to US$2,281.0 Mn in 2017 and is expected to grow at a CAGR of 29.5% during the forecast period 2018 - 2027, to account to US$ 26,568.9 Mn by 2027.
The global next gen memory market is experiencing a stable growth in the current scenario and is anticipated to rise in the coming years. The market for next gen memory comprises of several tier1, tier2 and tier3 companies across the globe which capitalize substantial amounts with an objective to develop advanced electronic and semiconductor storage products. Geographically, the next gen memory market is categorized on basis of five strategic regions as North America, Europe, Asia Pacific, Middle East and Africa, and South America. Asia Pacific region accounted for the largest market share in 2017, nearly half of the entire market.
The rapidly increasing data-centric applications of next-generation memories in numerous industry verticals worldwide coupled with the burgeoning prominence of mobile devices and connected technology is expected to offer an impetus growth in the demand for non-volatile next generation memories. Furthermore, the cost-effective and high-performance non-volatile memory technologies enable the simplification of the memory hierarchy, which can be used for incorporating non-volatility in logic circuits, resulting in a new application for non-volatile next generation memories in hardware security and neuromorphic computing. In addition, the non-volatile memories were also recently used for the development of 3D stackable memory architecture. The rising demand by the IT companies for making the computer's system further secured and enhance its efficiency is expected to drive innovative applications of non-volatile next generation memories. The trend is subsequently anticipated to encourage the next generation memory market growth during the forecast period.
In the coming years, the adoption of next-generation infotainment systems and ADAS would be integrating the DRAM memory technologies that would have much higher - performance and low power consumption capabilities. At present, the penetration of the automated cars is moderately low, which is projected to spur in the coming years. The growth in the autonomous cars is suspected to be primarily driven by the increasing incidences of fatal car crashes, which in the coming years are expected to reduce by the use of super-intelligent automated cars. Therefore, in the coming years, the higher demand for autonomous vehicles are expected to increase the need for next-generation memories.
Major and smaller players are trying to come up with innovative solutions and strategic partnerships as well as different business models to attract a large base of customers. The major companies operating in the market include Advanced Micro Devices, Inc., Cypress Semiconductor Corporation, Fujitsu Limited, Intel Corporation, Microchip Technology Incorporated, Micron Technology, Inc., NXP Semiconductors N.V., Samsung Electronics Co. Ltd., SK Hynix Inc., and Toshiba Corporation. Various other companies operating in the next gen memory market and are coming up with new offerings which are helping the next gen memory market to expand over the years in terms of revenue. Several other participants are also operational in global next gen memory market that offer customers with robust solutions, thereby catalyzing the demand of next gen memory market.