Global Next-Generation Memory Market Size By Technology (Volatile, Non-volatile), By Type (Mass Storage, Embedded Storage), By Application (Consumer Electronics, Enterprise Storage), By Geographic Scope And Forecast

Global Next-Generation Memory Market Size And Forecast

Next-Generation Memory Market size was valued at USD 4.49 Billion in 2022 and is anticipated to reach USD 30.41 Billion By 2030, growing at a CAGR of 27.03% from 2023 to 2030.

• The rising penetration of advanced technologies such as artificial intelligence, Internet of Things (IoT), cloud computing, and machine learning is increasing the dependency on memory solutions for faster connectivity and larger data storage. These advancements play a pivotal role in bolstering the sales of next-generation memory.
• In comparison to conventional memory solutions, such as NOT AND (NAND) flash, Dynamic Random Access Memory (DRAM), and Static Random Access Memory (SRAM) cutting-edge memory technologies are known to offer higher performance, power efficiency, and storage capacity.
• The next-generation memory includes a range of solutions such as resistive random-access memory (RRAM), phase-change memory (PCM), magnetoresistive random-access memory (MRAM), ferroelectric random-access memory (FeRAM), and 3D XPoint memory.
• These memory solutions provide faster access times, higher bandwidth, lower power consumption, and non-volatility, thereby increasing the demand for next-generation memory.
• Furthermore, the increasing application of advanced memory solutions is spurring up semiconductor and memory manufacturers to develop and commercialize next-generation memory technologies.

Global Next-Generation Memory Market Dynamics

Key Drivers

• Rising Implementation of Smart Solutions The ongoing trend of incorporating smart technology-driven solutions such as smartphones, smart wearables, smart homes, and other smart electronics propels the need for faster accessibility and larger memory space with minimal power consumption. These technologies are projected to increase the sales of next-generation memory.
• Growing Incorporation of High-Performance ComputingHPC applications, such as artificial intelligence (AI), machine learning (ML), edge computing, cloud computing, and big data analytics are revolutionizing various sectors, such as manufacturing, healthcare, telecommunication, and banking. These technologies surge the need for lower latency, higher bandwidth, and efficient memory, providing lucrative opportunities for growth of the Next-Generation Memory Market.
• Rising Demand for Sustainable Memory Technologies Growing environmental concerns are driving the demand for memory solutions with minimal energy consumption and a negligible environmental footprint. The next-generation memory technologies, such as MRAM and PCM meet these sustainability goals, thereby increasing their demand.
• Advancements in Semiconductor Technology The continuous advancements in semiconductor manufacturing enable the development of new memory architectures and materials that can deliver superior performance and density. This ongoing innovation is crucial for the growth of the Next-Generation Memory Market.
• Emerging Applications in IoT, Automotive, and Aerospace The automotive, aerospace, and IoT industries generate large volumes of data that have to be operated in difficult environments. Thereby, enabling the need for adopting next-generation memory technologies with higher scalability, bandwidth, and speed.
• Overall, these factors are expected to drive the next-generation market, leading to significant advancements in memory technology as well as navigating the market.

Key Challenges

• High Manufacturing Cost of Next-Generation Memory SolutionsThe high cost of the high-density and high-bit-density next-generation memory technologies acts as a barrier for the adoption of these memory solutions for smaller enterprises with lower budgets. Also, the manufacturing cost of the next-generation memory solutions is higher compared to the conventional technologies including DRAM and NAND flash memory. This high upfront cost limits the availability of next-generation memory solutions.
• Increasing Cybersecurity Attacks As the adoption of the Internet of Things, cloud computing, and other high-performance computing technologies in next-generation memory technologies spur, they become highly vulnerable to cybersecurity attacks. The vulnerability of next-generation memory is anticipated to lower its demand, creating a negative impact on market growth.
• Technical Restraints The need to follow technical specifications when developing and manufacturing next-generation memory chips increases the demand for specialized expertise. These technical challenges affect the yield and defect rate, increasing the overall production cost.
• Reliability of Traditional Memory Technologies Conventional memory solutions including DRAM and NAND flash memory technologies are under constant upgradation to offer significant advantages in terms of cost, performance, and maturity. This is likely to create competition making it difficult for next-generation memory solutions to gain market share.

Key Opportunities

• Merging of Memory and ProcessingThe advancements in memory technologies are blurring the difference between memory and processing. For example, Intel’s Optane memory, integrates processing capabilities into the memory chip. This convergence enables the development of new memory architectures with faster accessibility to data and improved system performance. Such developments will create lucrative opportunities for the market.
• Mobile Device Market and the Drive for High-Performance MemoryGrowing penetration of high-end smartphones and other mobile devices is driving the need for memory solutions with higher resolutions, faster data transfer rates, and improved battery life. Thereby, spurring the sales of next-generation memory technologies.
• Integration of Artificial Intelligence (AI) and Machine Learning (ML)The growing demand for high-performance, low-latency memory solutions is surging the need to integrate AI and MI in the memory solutions. It opens new doors of opportunities for the next-generation memory technologies.
• Role of Edge Computing in Memory SolutionsEdge computing drives the need for memory solutions with power efficiency and higher performance with low latency. Next-generation memory solutions, such as MRAM and PCM, are favorable for edge computing applications, fueling the sales.

Global Next-Generation Memory Market Regional Analysis

Asia Pacific

• The Next-Generation Memory Market in the Asia Pacific is estimated to exhibit the fastest growth by 2030. The expanding manufacturing and consumer electronics industries in emerging countries such as India, China, and Japan make available higher development and commercialization prospects for the next-generation memory technologies.
• Evolving semiconductor industries in the region necessitate the demand for next-generation memory technologies to enable digital data storage. this positions Asia Pacific for success in the rapidly growing market.
• The proliferation of smart devices in the region to respond to the tech-savvy consumers facilitates the integration of next-generation memory solutions in a wide range of devices.

North America

• The constant demand for processing of faster data in the various sectors including finance, healthcare, and cloud computing is influencing businesses to integrate next-generation memory solutions, driving the market growth in the region.
• Rapid industrialization in the region drives the need for greater accessibility, connectivity, speedy data transfer, and large storage capacity with lower latency for efficient operations. This demand is steering the growth of the next-generation market in reigning direction.
• Growing penetration of mobile devices in North America is projected to boost the sales of advanced memory solutions, making the trend creditable for the growth of the market.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Next-Generation Memory Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behaviour of competitors and a player’s strategic positioning in the Next-Generation Memory Market, gauge the attractiveness of a certain sector, and assessing investment possibilities.

Global Next-Generation Memory MarketSegmentation Analysis

The Global Next-Generation Memory Market is segmented based on Technology, Type, Application, and Geography.

Next-Generation Memory Market, By Technology

• Volatile

• 1. Hybrid Memory Cube (HMC)
     1. DRAM
     2. SRAM
  2. High-Bandwidth Memory (HBM)
• Non-volatile
  1. MRAM
  2. NAND flash
  3. NOR flash
  4. Nano RAM (NRAM)
  5. PCM
  6. 3D XPoint
  7. FeRAM
  8. Resistive RAM (ReRAM)/ Conductive-Bridging RAM (CBRAM)

Based on Technology, the market is divided into Volatile and Non-volatile memory. Volatile memory, such as DRAM and SRAM, requires continuous power supply to retain data, while non-volatile memory, such as NAND flash, NOR flash, MRAM, PCM, RRAM, and FeRAM, retains data even without power. The non-volatile segment is expected to dominate the market. The generation of huge amounts of data in the industries increases the need for high-performing, cost-efficient, and faster memory solutions. Similarly, the growing use of wearables, high-performance computing, and alternatives for flash memory demands memory solutions. These factors are likely to be fueling the sales of non-volatile memory technologies.

Next-Generation Memory Market, By Type

• Mass Storage
• Embedded Storage

Based on Type, the market is divided into Mass Storage and Embedded Storage. Expanding data centers, enterprise storage systems, consumer electronics, and others require high-capacity storage with fast access speeds and reliable data retention, skyrocketing the demand for mass storge. Mass storage refers to the use of Next-Generation Memory technologies for large-scale data storage applications, such as solid-state drives (SSDs), hard disk drives (HDDs), and other external storage devices. The segment is projected to hold the maximum share in the Next-Generation Memory Market.

Next-Generation Memory Market, By Application

• Consumer Electronics
• Enterprise Storage
• Manufacturing
• IT and Telecommunication
• Aerospace and Defense
• Industrial
• Automotive and Transportation
• Others

Based on Application, the market is segregated into Consumer Electronics, Enterprise Storage, Manufacturing, IT and Telecommunication, Aerospace and Defense, Industrial, Automotive and Transportation, and Others. Next-generation memory technologies are utilized in enterprise storage systems, including data centers, servers, and cloud storage. These technologies offer high-speed data access, low-latency storage solutions, and efficient data management, enabling improved performance, reliability, and scalability in enterprise storage environments. Thus, the spurring application of advanced memory solutions in the enterprise sector, makes it a dominant segment in the market.

Key Players

The “Global Next-Generation Memory Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Intel, Toshiba, Fujitsu, Honeywell International, Micron Technology, SK Hynix, Western Digital, Samsung, Everspin, Microchip Technology, Avalanche Technology, Crossbar, Inc., Nantero, Inc., Macronix International CO., Ltd, ROHM CO., LTD, Kingston Technology, Viking Technology, Infineon Technologies AG, Winbond, Nanya Technology, KIOXIA Singapore Pte. Ltd, and Adesto Technologies.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Key Developments

• In Feb 2022, Intel acquired Tower Semiconductor for $5.4 billion to speed up the company’s global, end-to-end foundry business.
• In June 2022, SK Hynix, Inc. developed a twelve-layer HBM3 product with 24GB 2 memory capacity. It is the world’s fastest DRAM.
• In November 2022, SAMSUNG uses its highest bit density to start a mass production of a 1-terabit (Tb) triple-level cell (TLC) eighth-generation Vertical NAND (V-NAND).
• In June 2022, Weebit Nano Limited announced that the latest prototype chip is integrated with embedded Resistive Random-Access Memory (ReRAM) module and SkyWater Technology’s foundry. This technology will be available on SkyWater’s 130nm CMOS process, making it perfect for power management, automotive, analog, IoT, and medical uses.
• In February 2022, SK Hynix released PIM, a next-generation memory chip with computing capabilities. SK Hynix launched a prototype of GDDR6-AiM the first product that adopts the PIM technology.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Report Scope