December 11, 2019
According to the research report titled ‘SLC NAND Flash Memory Market to 2027 - Global Analysis and Forecasts by Type (Serial NAND and Parallel NAND); Application (Automotive, Industrial, Communication, Computers and IT, Consumer Electronics, and Others); Density (1Gb, 2Gb, 4Gb, 8Gb, and Above 8Gb)’ available at MarketStudyReport.com, the global SLC NAND flash memory market was worth US $1.15 billion in 2018 and is estimated to grow with a CAGR of 5.6% during the period of 2019-2027, hence reaching US $1.98 billion by the year 2027.
Single-level cell (SLC) NAND flash is ideal for high-endurance, high-performance, and low-power applications. Technology advancements and development of innovative products are driving the growth of the SLC NAND flash memory market. Surging demand from manufacturing segment of automotive and electronic industries, especially in developing nations is also aiding the market expansion.
The report states that as per volume, SLC NAND flash memory industry accounted for 142 million units in 2018 and is projected to grow with a CAGR of 6.4% over the analysis period to amass 260.5 million units by the year 2027.
Based on type, SLC NAND flash memory industry is categorized into parallel NAND and serial NAND. In terms of application spectrum, the market is classified into industrial, automotive, computers & IT, communication, consumer electronics, and others. As per the report, automotive and consumer electronics application segments are displaying escalated demand for SLC NAND flash memory products, hence boosting the market growth.
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Considering the geographical landscape, Asia Pacific SLC NAND flash memory market holds the largest regional share presently and is expected to maintain its dominance during the analysis timeline. Rising industrialization especially in countries such as India and China is augmenting the demand for SLC NAND flash memory products across the region. Moreover, extensive adoption of IoT and development of advanced electronics will further fuel the regional market growth.
The prominent companies operating in SLC NAND flash memory market are Toshiba Corp., Samsung Electronics Co. Ltd., Western Digital Corp., SK Hynix Semiconductor, Inc., and Micron Technology, Inc. among others.
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