Growing demand for data centers with rising digitalization is driving the NAND flash memory market across the globe in the forecast period.
According to TechSci Research report, “NAND Flash Memory Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, The Global Nand Flash Memory Market is driving on account of the rising use of Electronics devices integrated with the NAND technology diverge in price and speed. The application of NAND flash drives extends beyond a computer system to other electronic gadgets as it is used in iPods and smartphones owing to its enhanced features and extensive storage system. The increasing need for phones rich in features that incorporate video, camera, gaming, and music has increased demand for extensive storage systems in the global electronics market. Such factors are expected to fuel demand for NAND flash memory globally. Apart from smartphones, the NAND technology is also used in wearable devices.
NAND flash is a non-volatile storage technology that stores data without the use of power. It is a type of erasable programmable read-only memory (EEPROM). In large blocks, it is programmed, erased, and reprogrammed. It’s called NAND because it’s similar to the NAND logic function at the circuit level. The study’s scope includes the global market for NAND and its various applications in smartphones, SSD, memory cards, and tablet PCs. The implementation of the Internet of Things (IoT) Internet of Things in agricultural practices and improved technologies has resulted in an increase in the use of high-end computing systems in the agricultural industry. The agricultural sector’s growing demand for non-volatile storage devices is expected to drive up demand for NAND flash drives. Such factors are likely to contribute to the global NAND flash market’s growth during the forecast period.
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The rising demand for low-cost storage solutions across various consumer electronics applications will drive market growth. Furthermore, the increasing usage of smartphones coupled with the growing adoption of NAND flash memory in electronic devices will further aggravate the market value. Additionally, the comparative advantages of NAND flash memory over its alternatives and the increasing proliferation of 5G and IoT devices are also estimated to cushion the overall market growth. However, the rising cost of flash memory acts as a restraint for the market.
Based on Type, the market is segmented as SLC (One Bit Per Cell), MLC (Two Bit Per Cell), TLC (Three Bit Per Cell) and QLC (Quad Level Cell)). Based on Application, the market is fragmented into Smartphone, SSD, Memory Card, Tablet and Others. Based on Industry Vertical, the market is segmented into Consumer Electronics, Communication & Technology, Automotive and Manufacturing. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Top companies are spending a lot of money on evaluating and analyzing innovative service and product offerings to improve the user experience and customer engagement for NAND flash memory products across the globe. Vendors or sellers are also releasing the NAND Flash drivers that assist the 5G-enabled mobile phones, and the tabs are projected to drive the expansion of the global NAND Flash memory market. SLC-based drives better durability and endurance while being more costly per Gigabyte than MLC Based drives. The MLC drives have a deficient and shorter span of life than the SLC drives, mainly complex when stored at increasing temperatures, which are projected to hamper the growth of the global NAND Flash memory market.
Key market players in the NAND Flash Memory market include:
- Samsung Electronics Co. Ltd
- KIOXIA Corporation
- Micron Technology Inc.
- SK Hynix Inc.
- Intel Corporation
- SanDisk Corp. (Western Digital Technologies Inc.)
- Cypress Semiconductor Corporation (Infineon Technologies)
- Yangtze Memory Technologies
- Powerchip Technology Corporation
- Fujitsu Limited
Recent Advancements
- The company SK Hynix announced the acquisition of Intel’s NAND unit for USD 9 billion on December 2021. By 2025, the company hopes to have completed another integration process.
- The company Mercury Systems Inc. announced the release of a non-volatile memory device based on NAND flash in November 2021. The new device has a plastic ball-grid array (BGA) package and is designed to meet NASA’s EEE-INST-002 space-grade application guidelines for ultra-high-density memory storage applications in high-radiation environments such as space.
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“Asia-Pacific is one of the biggest markets for NAND flash memory across the globe. The region has a high demand for almost all end-user applications, primarily led by the need for smartphones in multiple developing countries, such as China, India, and Indonesia. Rising demands for low-cost storage solutions across various consumer electronics applications is expected to emerge as a major factor driving market growth. Furthermore, the comparative advantages of NAND flash memory over its alternatives, as well as the increasing proliferation of 5G and IOT devices, are expected to cushion the market’s overall growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“NAND Flash Memory Market By Type (SLC (One Bit Per Cell), MLC (Two Bit Per Cell), TLC (Three Bit Per Cell), QLC (Quad Level Cell)), By Application (Smartphone, SSD, Memory Card, Tablet, Others), By Industry Vertical (Consumer Electronics, Communication & Technology, Automotive, Manufacturing), By Region, Competition”, has evaluated the future growth potential of NAND Flash Memory and provides statistics and information on market structure, size, share, and future growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the Global NAND Flash Memory Market.
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