The global next generation memory market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the growing demand for economical, high scalable, and fast memory solutions.
The next generation memory is a technologically advanced and improved storage technology which is used in the field of computer. It is a common label applied to a major upgrade of software and hardware product. This technology of memory has emerged as an important technology because everything used today generates data which need to be stored for future reference. Next-generation memory technology has extensive application in supporting data storage in various industry verticals, such as automobile, data centers, information technology, and network communication. The technology is an ideal substitute for existing mass production memories such as Flash and SRAM. The next-generation memory technology offers numerous benefits, such as fast working and less power consumption compared to existing memory technologies.
The COVID-19 pandemic outbreak had negative impact on the market. During pandemic, supply chain was disrupted and manufacturing plants halted their operations, which hampered the market. The market is expected to recover soon with an uptrend operation due to subsiding the COVID cases gradually across the globe.
Market Trends, Drivers, Restraints, and Opportunities
- Rising need for mass storage and universal storage devices is one of the key factors driving the market growth.
- Increasing demand of memory technology from data centers and enterprise storage application is projected to boost the market during the forecast period.
- Decreasing stability under extreme environmental conditions, such as high temperature acts as a major challenge that can restrict the market growth in the coming years.
- Low write endurance rate is expected to hamper the market growth during the projected timeline.
- Escalating demand in industrial application and replacement of flash memory is anticipated to create significant growth opportunities for the market.
Scope of the Report
The report on the global next generation memory market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Next Generation Memory Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Products (Non-volatile and Volatile) and Applications (Embedded MCU & Smart Cards, Industrial & Automotive, Mobile Phones, Mass Storage, and Cache Memory & Enterprise Storage)
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
Adesto Technologies; Crossbar Inc.; Intel Corp.; Samsung Electronics Co., Ltd.; IBM Corp.; Toshiba Corp.; Everspin Technologies, Inc.; Fujitsu Ltd.; and Micron Technology, Inc.
Market Segment Insights
Non-volatile segment to register a high CAGR
On the basis of products, the global next generation memory market is bifurcated into non-volatile and volatile. The non-volatile segment is projected to register at high CAGR in the projected timeline owing to the integration of the product in modern electric equipment. Moreover, the segment growth is further accelerated as non-volatile memory offer various benefits, such as highly reliable, increased security, and high endurance. On the other hand, the volatile segment is anticipated to register a substantial CAGR during the forecast period attributed to the faster data operation, low power consumption, and it is better suited to retaining sensitive information.
Growing data centers drives the cache memory & enterprise storage segment
Based on applications, the market is divided into embedded MCU & smart cards, industrial & automotive, mobile phones, mass storage, and cache memory & enterprise storage. The cache memory & enterprise storage segment is expected to grow at a rapid pace during the forecast period due to the growing data centers across the globe. Additionally, increasing need for data storage capabilities in cloud storage and data centers is driving the segment growth further. However, the mass storage segment is anticipated to expand at a substantial CAGR in the coming years owing to the generation of large volume of data every day across the globe, which rising the need for more effective storage solutions with larger storage capacity.
Asia Pacific to constitute a key market share
In terms of region, the global next generation memory market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key share of the market during the projected period owing to the rising penetration of mobile phones, computer, and presence of key global players in the region. However, the market of North America is anticipated to grow at a rapid pace during the forecast period due to the increasing need of more efficient processing systems across industries and early adoption of next generation technologies and infrastructure in the region.
Segments Covered in the Report
The global next generation memory market has been segmented on the basis of
- Fully Immersive
- Embedded MCU & Smart Cards
- Industrial & Automotive
- Mobile Phones
- Mass Storage
- Cache Memory & Enterprise Storage
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Adesto Technologies
- Crossbar Inc.
- Intel Corp.
- Samsung Electronics Co., Ltd.
- IBM Corp.
- Toshiba Corp.
- Everspin Technologies, Inc.
- Fujitsu Ltd.
- Micron Technology, Inc.
Key players competing in the global next generation memory market are Adesto Technologies; Crossbar Inc.; Intel Corp.; Samsung Electronics Co., Ltd.; IBM Corp.; Toshiba Corp.; Everspin Technologies, Inc.; Fujitsu Ltd.; and Micron Technology, Inc. Companies are focusing on investments in R&D sector to gain an early mover advantage. Furthermore, companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.
For instance, in July 2019, Fujitsu Semiconductor announced the release of the 8Mbit ReRAM MB85AS8MT, which was developed jointly with Panasonic Semiconductor Solutions Co. Ltd. and is largest density as a mass-produced across the globe. The newly launched product is suitable for wearable devices. In August 2019, Samsung Electronics Co., Ltd announced its 6th generation V-NAND memory using new circuit design technology with 100 active layers. It consumes 15% lower amount of power and features 10% lower latencies compared to Samsung's previous-generation V-NAND products.