Global Semiconductor Memory Market to Display Strong CAGR Through 2026

May 21, 2020

According to a recent study titled ‘Semiconductor Memory Market Size By Type , By Application, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global semiconductor memory market is expected to record substantial growth over 2020-2026

Semiconductor memory is extensively used in electronics assembly that uses computer processing technology and is the most vital components for any PCB assembly that is computer based. Memory cards are one of the most common data storage solutions ranging from flash memory cards to semiconductor memory cards present in mobile phones and cameras. Escalated demand for storage solution due to increasing consumption & size of digital content, coupled with surging sales of mobile devices are the major growth drivers of global semiconductor memory market.  

Based on type, RAM segment is categorized into SRAM, MRAM, DRAM, and SDRAM. SDRAM share is projected to expand at 19% CAGR during the assessment period. The growth can be credited surging use of product in computing technologies and microprocessor-based systems. Faster operating speed as compared to conventional DRAM is boosting the demand for SDRAM.

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Speaking of the application spectrum, automotive segment held over 8% share in semiconductor memory market in 2019 and is expected to grow considerably in the coming years. Increasing adoption of memory chips for in-vehicle infotainment system and automated driving system, along with applicability of semiconductors in meeting safety guidelines by aiding smart functions like lane change assist, adaptive cruise control, and blind spot detection are supporting the segment growth.

As per the regional analysis, global market is divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Latin America semiconductor memory market is expanding at 8% CAGR on account of advancements in industrial automation, alongside growing adoption of control systems and advanced robotics.

Major players in global semiconductor memory market are Everspin Technologies, Inc., Cypress Semiconductor Corporation, Fujitsu Limited, Intel Corporation, GlobalFoundries, Microchip Technology, Inc., NXP Semiconductors, Micron Technology, Inc., Renesas Electronics Corporation, SK Hynix, Inc., Samsung Electronics Co., Ltd., Semiconductor Manufacturing International Corporation (SMIC), Texas Instruments Incorporated, Taiwan Semiconductor Manufacturing Company Limited (TSMC), Western Digital Corporation, and Toshiba Corporation.

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