The global NAND flash memory market size was valued at USD 70.51 Billion in 2022 and is estimated to reach USD 119.13 Billion by 2031, expanding at a CAGR of 6% during the forecast period, between 2023-2031. With rising use of computers and smartphones, the consumption of NAND flash memory is also increasing relatively, which is driving the market.
NAND flash memory is a type of non-volatile storage technology that can electrically be erased and reprogrammed. Various features of NAND flash memory, such as low power, scalable design, cost-efficiency, and high density, make it an ideal choice for memory storage, which is anticipated to fuel the demand for NAND flash memory during the forecast period.
The main feature of NAND flash memory is to provide low-cost storage per bit and increase maximum chip capacity. MP3 players, digital cameras, and USB flash drives use NAND technology. NAND memory cells are made up of two types of gates, namely, control and floating gates. NAND flash saves data as blocks and relies on electric circuits to store data.
The COVID-19 pandemic had a significant impact on the market. At the beginning of the pandemic, the market faced disruptions in the supply chain and a reduction in production owing to the shortage of labor. Major market players were impacted by the pandemic owing to the travel restrictions as a result this impacted the market growth. However, the pandemic further boosted the market revenue for some companies including Qualcomm and AMD, which is expected to turn the market situation for NAND flash memory chips.
NAND Flash Memory Market Dynamics
Increasing storage capacity provided by NAND flash memory to the end-users is anticipated to drive the market. Consumer products such as tablets, cameras, sensors, automotive systems, and medical devices depend on flash memory to save and store data, which is expected to fuel the NAND flash memory market. Surging demand for flash memory for artificial intelligence and machine learning applications boosts the NAND flash memory market.
Fluctuations in the production and supply line of flash memory during the pandemic period restrained the growth of the market. The rising cost of flash memory is estimated to hamper the global NAND flash memory market.
The current macro trends of AI and machine learning, mobility, and connectivity are favorable to the NAND flash memory market, which provides growth opportunities for the market players.
Scope of NAND Flash Memory Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
NAND Flash Memory Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Type (SLC [One-Bit Per Cell], MLC [Two-Bit Per Cell], TLC [Three-Bit Per Cell], and QLC [Quad Level Cell]), Structure (2-D and 3-D), and Application (Smartphone, SSD, Memory Card, Tablet, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
|SAMSUNG; Intel Corporation; Micron Technology, Inc.; SK HYNIX INC.; Western Digital Corporation; KIOXIA America Inc.; ATP Electronics,Inc.; Renesas Electronics Corporation.; Powerchip Semiconductor Manufacturing Corporation.; Infineon Technologies AG; Everspin Technologies Inc.; IBM Corporation; ADATA Technology Co., Ltd.; Kingston Technology Europe Co LLP.
NAND Flash Memory Market Segment Insights
Type Segment Analysis
Based on type, the NAND flash memory market is segmented into SLC, MLC, TLC, and QLC. The SLC (single-level cell) segment accounted for a key share of the NAND flash memory market in 2021 and is anticipated to dominate the market.
SLC drive provides better quality and durability than other drives, which makes it an ideal choice of drive in the market. MLC drive has a shorter life span than SLC drive, which provides it an edge over MLC drive. These factors fuel the SLC segment.
Structure Segment Analysis
In terms of structure, the NAND flash memory market is bifurcated into 2-D and 3-D. The 3-D structure segment dominated the market in 2021 and is expected to grow at a rapid pace. A 3-D NAND structure provides better endurance and storage space than a 2-D structure.
In 3-D structure, cells are stacked vertically and in layers, resulting in speed and high performance. 3-D NAND structure is preferred for small chassis servers, as it is small, requires little space to install, and consumes less power than a 2-D structure.
Application Segment Analysis
On the basis of application, the NAND flash memory market is classified into smartphone, SSD, memory card, tablet, and others. Increasing use of NAND flash memory in smartphones is expected to propel the market.
Flash memory has become an essential part of smartphones, as it enhances the performance of smartphones. Manufacturers are integrating features such as gesture control, fingerprint scanners, and GPS into the devices. This is boosting the demand for NAND flash memory, which is used as code storage media for smartphones.
Based on regions, the NAND flash memory market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is one of the largest markets for NAND flash memory globally and the market in Asia Pacific is estimated to keep growing in the forecast period.
High demand for NAND flash memory from the end-users for multiple applications, majorly for smartphones, is expected to drive the market, especially in countries such as China, India, and Indonesia.
The global NAND flash memory market has been segmented on the basis of
- SLC (One-Bit Per Cell)
- MLC (Two-Bit Per Cell)
- TLC (Three-Bit Per Cell)
- QLC (Quad Level Cell)
- Memory Card
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Intel Corporation
- Micron Technology, Inc.
- SK HYNIX INC.
- Western Digital Corporation
- KIOXIA America Inc.
- ATP Electronics,Inc.
- Renesas Electronics Corporation.
- Powerchip Semiconductor Manufacturing Corporation.
- Infineon Technologies AG
- Everspin Technologies Inc.
- IBM Corporation
- ADATA Technology Co., Ltd.
- Kingston Technology Europe Co LLP
Key players in the global NAND flash memory market are SAMSUNG; Intel Corporation; Micron Technology, Inc.; SK HYNIX INC.; Western Digital Corporation; KIOXIA America Inc.; ATP Electronics,Inc.; Renesas Electronics Corporation.; Powerchip Semiconductor Manufacturing Corporation.; Infineon Technologies AG; Everspin Technologies Inc.; IBM Corporation; ADATA Technology Co., Ltd.; Kingston Technology Europe Co LLP. These players are engaged in partnerships and acquisitions to maintain their position in the market.