In 2017, the global next-generation memory market was valued at approximately US$2,281.0 million and is projected to experience a compound annual growth rate (CAGR) of 29.5% from 2018 to 2027, ultimately reaching around US$26,568.9 million by the end of the forecast period.
The current landscape of the global next-generation memory market is characterized by steady growth, with expectations for continued expansion in the years ahead. This market encompasses a diverse range of tier 1, tier 2, and tier 3 companies worldwide, all investing significant resources to innovate and develop advanced electronic and semiconductor storage solutions. The geographical segmentation of the next-generation memory market includes five key regions: North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Notably, the Asia Pacific region held the largest market share in 2017, accounting for nearly half of the total market.
The surge in data-centric applications utilizing next-generation memory across various industry sectors, combined with the increasing significance of mobile devices and interconnected technologies, is anticipated to drive a substantial rise in the demand for non-volatile next-generation memories. Additionally, the advent of cost-effective and high-performance non-volatile memory technologies facilitates the simplification of memory hierarchies, allowing for the integration of non-volatility into logic circuits. This development opens up new applications for non-volatile next-generation memories, particularly in hardware security and neuromorphic computing. Furthermore, recent advancements have seen non-volatile memories being employed in the creation of 3D stackable memory architectures. The growing demand from IT companies to enhance system security and efficiency is expected to further propel innovative applications of non-volatile next-generation memories, thereby fostering growth in the next-generation memory market throughout the forecast period.
Looking ahead, the integration of next-generation infotainment systems and Advanced Driver-Assistance Systems (ADAS) is set to incorporate DRAM memory technologies that offer superior performance and lower power consumption. Currently, the adoption rate of automated vehicles is relatively modest, but this is projected to increase significantly in the near future. The anticipated growth in autonomous vehicles is largely attributed to the rising number of fatal traffic accidents, which are expected to decline with the implementation of highly intelligent automated driving systems. Consequently, the increasing demand for autonomous vehicles is likely to elevate the need for next-generation memory solutions.
Both major corporations and smaller enterprises are actively pursuing innovative strategies, forming strategic partnerships, and exploring various business models to capture a broader customer base. Key players in the market include Advanced Micro Devices, Inc., Cypress Semiconductor Corporation, Fujitsu Limited, Intel Corporation, Microchip Technology Incorporated, Micron Technology, Inc., NXP Semiconductors N.V., Samsung Electronics Co. Ltd., SK Hynix Inc., and Toshiba Corporation. Additionally, numerous other companies are contributing to the next-generation memory market by introducing new products and solutions, which are instrumental in driving revenue growth. A variety of participants are also engaged in the global next-generation memory market, providing customers with robust solutions that stimulate demand for next-generation memory technologies.