Next-Generation Memory Market Regional Analysis
By region, the global next-generation memory market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period. High investments in technologically advanced products, growing adoption of PCM, DRAM, and MRAM memory, increased number of vendors in the market, increasing demand for advancements by enterprises, extensively changing technologies, and high data generation across industries are adding to the global next-generation memory market growth in the region.
The global next-generation memory market in the APAC region is predicted to have healthy growth over the forecast period. Growing need for tablets and smartphones and a manufacturing hub for wearable electronics, huge demand from South Korea, China, and Japan, increase in smartphone users, tremendous scope in different applications, large adoption of consumer electronics like laptops, tablets, smartphones, and others, and the increasing demand for memory in consumer electronics products are adding to the global next-generation memory market growth in the region.
The next-generation memory market in Europe is predicted to have notable growth over the forecast period and that in RoW is predicted to have sound growth over the forecast period.
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Next-Generation Memory Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global next-generation memory market based on application and product.
By product, the global next-generation memory market is segmented into volatile memories and non-volatile memories. The volatile memories are again segmented into dynamic random access memory (DRAM), and static random access memory (SRAM). The non-volatile memories are again segmented into resistive random access memory (Re RAM), ferroelectric RAM (FeRAM), phase change memory (PCM), and magneto-resistive random access memory (MRAM). Of these, the MRAM segment will lead the market over the forecast period.
By application, the global next-generation memory market is segmented into aerospace and defense, IT and telecommunication, manufacturing, and consumer electronics. The consumer electronics segment is again segmented into iPods, mobile phones, tablets, and laptops. Of these, the consumer electronics segment will dominate the market over the forecast period.
Next-Generation Market Analysis/Next-Generation Memory Market Trends
The global next-generation memory market will touch USD 8 billion at a 45% CAGR in the forecast period 2016- 2022, according to the new Market Research Future (MRFR) analysis. Next-generation memory, simply put, is a common label that is applied to a key upgrade of software or a hardware product.
Various factors are fuelling the global next-generation memory market growth. According to the recent MRFR market estimates, such factors include growing need for cost-effective, efficient, and faster memory solutions, increasing use in different verticals, growing need for enterprise storage application, the need for highly scalable, high bandwidth, and low power consumption memory device for technologies like Big data, internet of things, and artificial intelligence, power efficiency, high growth in the wearable electronics industry, intrinsic advantages with non-volatile memories, and technological advances for storage. The additional factors adding market growth include increasing use of next generation memory in smart phones, growing adoption of PCM and MRAM memory and enterprise storage, growing need for enterprise storage apps, increasing need of high bandwidth, low power consumption devices, and highly scalable memory, and increasing need for universal memory devices.
On the contrary, issues related to storage density, intense competition, low stability during environmental conditions, and high cost may impede the global next-generation memory market growth over the forecast period.
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The prominent players profiled in the next-generation memory market report include Micron Technology, Inc., Intel Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), SanDisk Corporation (U.S.), IBM Corporation (U.S.), Fujitsu Ltd. (Japan), Adesto Technologies Corporation, Inc. (U.S.), SK Hynix Semiconducto, Inc. (South Korea), and Toshiba Corporation (Japan), among others. Mergers and applications, collaborations, partnerships, joint ventures, geographic expansions, strategic alliances, new product launches and new product developments are the key strategies that key players have incorporated to stay at the forefront.