Next-Generation Memory Market: Segmented: By Technology (Non-Volatile [MRAM, FRAM, ReRAM, 3D Xpoint, Nano RAM, Others], Volatile [HMC, HBM]), By Application (BFSI, Consumer Electronics, Government, Telecommunications, Information Technology, Other Applications), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
[ 170 + Pages Research Report ] Next-Generation Memory Market to surpass USD 56.85 billion by 2031 from USD 4.80 billion in 2021 at a CAGR of 28% in the coming years, i.e., 2021-2031.
Term used to describe a significant update to hardware or software is "next-generation memory." The demand for quicker, more effective, and more affordable memory solutions has caused the next-generation memory market to expand during the past few years. This type of memory for improved storage is employed in the computer industry. The demand for highly accessible gadgets that are compatible with emerging technologies like the Internet of Things, big data, and artificial intelligence has skyrocketed.
The global Next-Generation Memory Market is expected to project a notable CAGR of 28% in 2031.
Emerging non-volatile memory technologies like MRAM, STT-RAM, FRAM, phase-change memory (PCM), and ReRAM are projected to be integrated. These technologies combine the speed of SRAM, the density of DRAM, and the non-volatility of flash memory. These are potential upgrades to upcoming memory technologies. Additionally, the integration of DRAM memory technologies, which would have significantly higher performance and low power consumption characteristics, would be a component of the adoption of next-generation infotainment systems and ADAS.
The Magneto-Resistive Random-Access Memory (MRAM) segment is expected to grow with the highest CAGR during 2021-31
Based on Technology, the global Next-Generation Memory Market is fragmented into Non-Volatile and Volatile. The Non-Volatile segment is further divided into Magneto-Resistive Random-Access Memory (MRAM), Ferroelectric RAM (FRAM), Resistive Random-Access Memory (ReRAM), 3D Xpoint, Nano RAM, and Other Non-Volatile Technologies. The Volatile is further segmented into Hybrid Memory Cube (HMC) and High-Bandwidth Memory (HBM). Due to its improved performance, higher endurance, lower power consumption, better scalability with extremely high write endurance, and significantly higher write speeds than other non-volatile memory technologies, the MRAM segment of the Non-Volatile category is expected to grow significantly over the forecast period. The hybrid memory cube (HMC), a volatile memory storage device with greater bandwidth, more scalability, and better power efficiency than HBM, is anticipated to occupy a larger market share.
The Consumer Electronics segment is expected to grow with the highest CAGR during 2021-31
Global Next-Generation Memory Market is classified on the basis of application into BFSI, Consumer Electronics, Government, Telecommunications, Information Technology, and Other Applications. Among other industries, the consumer electronics sector is anticipated to rise dramatically. Connected and wearable technology is primarily what is driving the development of new memory technologies. Memory technologies are also required in large quantities by consumer electronics like smartphones, digital cameras, game consoles, and other gadgets. The demand for new memory technologies is anticipated to rise along with the consumer electronics sector.
The Growing Adoption of Improved Technologies and Demand for Semiconductors
Data centers are now needed more than ever to handle and store a greater volume of data as a result of the introduction of new technologies like artificial intelligence (AI), big data, and the internet of things (IoT). Additionally, the majority of enterprises rely on a strong core data center infrastructure. High performance, scalability, availability, and manageability are just a few characteristics for a fully functional data center. The market for next-generation memory is also anticipated to be driven by the rising demand for semiconductors. Important firms are also making investments in the memory and semiconductor technologies used in big data, IoT, and AI technologies.
Increasing Investment by End Users and Higher Adoption of Next-Generation Memories
The demand for storage applications is rising for numerous businesses in the global market for next-generation memory. End-users in the next-generation memory market, such BFSI, are boosting their investments in Internet of Things (IoT) technologies while also benefiting financially. In comparison to present SSDs, the widespread deployment of next-generation memory like 3D Xpoint delivers exceptional speed. Additionally, this is effectively working as a key driver for the expansion of the global market for next-generation memory.
Stability under Extreme Environmental Conditions
Extreme climatic circumstances expose the Next-Generation Memory Market to a deficiency of stability quantum. These elements significantly affect the memory devices' dependability and durability quotient. Additionally, the risk associated with any memory device increases with its temperature stress. Such circumstances have an impact on the market for next-generation memory and serve as a growth inhibitor.
Global Next-Generation Memory Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. One of the first regions to adopt the newest infrastructure and technologies is North America. The American economy is heavily influenced by the IT sector. There is a growing need for processing systems that are more efficient due to the quickly evolving technology and increasing data creation across all industries. These are a few of the elements influencing the region's need for next-generation memory.
Lockdowns stopped the spread of the virus and this impacted the global market for next-generation memory. However, since the supply chain management was disrupted by the lockdowns, the manufacturing and production companies experienced significant losses. The economy suffered a loss, and the major players are executing management plans and strategies to make up for the loss.
Next-Generation Memory Market is further segmented by region into:
Next-Generation Memory Market Segments:
|Market size value in 2021||USD 4.80 billion|
|Revenue forecast in 2031||USD 56.85 billion|
|Growth Rate||CAGR of 28% from 2021 to 2031|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2031|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Technology, Application, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Samsung, Micron, Toshiba, Western Digital, Adesto, SK Hynix, Microchip, Intel, Fujitsu, Everspin, IBM, Avalanche, Open-Silicon, RAMbus, and Other Prominent Players.|
Next-Generation Memory Market size was estimated at USD 4.80 billion in 2021 and is expected to reach USD 56.85 billion in 2031.
The next generation of memory is thought to be a significant improvement over hardware-software products. The technique is a perfect replacement for current mass-produced memory like SRAM and Flash. It offers characteristics and is anticipated to quickly replace the current mass-production memory.
The Non-Volatile segment accounted for the largest Next-Generation Memory Market share.
Key players in the Next-Generation Memory Market include Samsung, Micron, Toshiba, Western Digital, Adesto, SK Hynix, Microchip, Intel, Fujitsu, Everspin, IBM, Avalanche, Open-Silicon, RAMbus, and Other Prominent Players.
Owing to the rising demand for effective, quick, and affordable memory solutions, the next-generation memory industry has experienced a tremendous expansion in recent years.
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