Worldwide semiconductor memory market is anticipated to surpass US $730 billion by the year 2024, according to the latest research available at Market Study Report, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.
 

As cited in the report, rising number of data centers along with increasing memory requirements in entertainment and gaming applications are the major factors augmenting the semiconductor memory market. Industrial revolution 4.0 and evolution of automatic driving cars will further drive the market growth.
 

Semiconductor memory market is extremely competitive due to the presence of top manufacturers including Micron Technology, Inc., SK Hynix, Samsung Electronics, etc. These companies pose as an opposition for the new players and the existing companies owing to their strong position in the market. These companies integrate innovations with new memory technologies and solutions to address semiconductor memory market demand. Some of these players have advantage of vertical integration as they manufacture semiconductor devices, memory solutions, electronic products, and components under the same brand.
 

Based on the regional landscape, the rapid growth in the automotive manufacturing industry in Europe is playing an important role in enhancing semiconductor memory market share. The automotive electronics manufacturers in Europe are the main consumers of the product as it is installed in the braking systems, ADAS, and lighting. These solutions enhance automobiles by improving connectivity and memory processing. European automotive companies are benefited by the application-specific products offered by memory manufacturers. Citing an instance, Samsung produces reliable memory solutions like FLASH and DRAM for automotive applications.
 

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European players are investing highly in research and development activities to come up with product innovations, which will increase the semiconductor memory production in the region. The automotive manufacturers in Europe mostly import products from Asian memory providers owing to low cost and high quality in the region. Furthermore, regional semiconductor memory market is anticipated to witness significant growth due to the electronic manufacturing activities, automotive production, and the establishment of several hyperscale data center infrastructures.
 

According to the research, companies are investing highly in NAND memory solutions to take advantage of the rising demand from several industry verticals. Market players are undertaking strategic collaborations and acquisitions to fasten the development and allocation of 3D XPoint technology as well as NAND flash memory for the consumers. This will contribute towards the growth of semiconductor memory market.
 

The major contenders of semiconductor memory market profiled in the report are Microchip Technology, Inc., Cypress Semiconductor Corporation, Fujitsu Limited, Crocus Technology, Everspin Technologies, Inc., Intel Corporation, GlobalFoundries, NXP Semiconductors, Texas Instruments Incorporated, and Toshiba Corporation among others.