3D NAND Flash Memory Market to Reach $39 Billion, by 2022, Globally - Allied Market Research
PORTLAND, Oregon and PUNE, India, April 27, 2017 /PRNewswire/ --
3D NAND Flash Memory Market Report, published by Allied Market Research, forecasts that the global 3D NAND flash memory market is expected to garner $39 billion by 2022, registering a CAGR of 33.7% during the period 2016 - 2022. Consumer electronics dominate the market for 3D NAND flash memory market in 2015. Asia-Pacific led the global market, accounting for a market share of over 43% in 2015.
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The businesses across the globe move towards the cost reduction of products and operations, to enhance the viability of their offerings. Following the same trail, the NAND flash memory market also focuses to reduce cost per bit without rendering the performance and reliability on the memory chips. As the cost of a semiconductor is proportional to the die size of the chip on which the electronics will be fabricated, it is of utmost importance to have capability to cram more electronics on the similar sized silicon. Therefore, the implementation of 3D NAND flash memory technology is being used to achieve the desired output of greater performance and higher reliability.
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Various applications such as consumer electronics, automotive, and enterprise utilize the 3D NAND flash memory technology to harness improved performance at a much faster speed. The smartphones and tablets are some of the consumer electronics products leveraging the 3D NAND flash memory chips to the most. Owing to the growth in need of 3D NAND flash memory technology across multiple applications, the market is expected to grow at a rapid pace.
Moreover, the participation of some of the major semiconductor market monoliths such as Samsung, Intel, Toshiba, and SK Hynix among others aids the continuous growth of the market, both in terms of technology development and revenue generation. The current state of the 3D NAND flash memory market seems healthy along with an optimistic future scenario, thanks to the contribution of the market leaders.
In terms of application, the consumer electronics holds the major share in the market, in terms of revenue generation in 2015. The increase in the data traffic due to augmentation in internet usage and in operation of other applications such as virtual reality, the need for a faster, higher capacity, and more reliable storage technology is necessary. For this, the 3D NAND flash memory chips are finding huge application in the consumer electronics segment.
Asia-Pacific is dominant over the market, and is expected to maintain this trend throughout the forecast period. Housing a huge number of semiconductor production base in China, Japan, and South Korea, along with a vast consumer base in India and China, this region manages to leads in revenue generation with respect to the other regions. North America and Europe follow Asia-Pacific and are expected to grow with the similar trend by the end of the forecast period.
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Key findings of the 3D NAND Flash Memory Market study:
- In 2015, smartphones and products are anticipated to witness faster growth ahead.
- Consumer electronics is expected to grow with the CAGR of 33% owing to the growth in storage needs in portable electronics and devices.
- China is the major shareholder, accounting for about 33% of the Asia-Pacific market in 2015.
- India is expected to witness rapid growth, in terms of CAGR, from 2016 to 2022.
The key players in the 3D NAND flash memory market focus on the development of technology. This is evident from the consistent growth in NAND flash memory technology over the years. Samsung for instance, started in 2012 with the first generation of 3D NAND flash memory with the name V1 is now providing the third generation 3D NAND flash memory V3, introduced in 2015 followed by second generation memory chip V2 in 2014. This consistent improvement in the technology is the major strategy followed by the key players in the industry.
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The major players profiled in this report include Samsung Electronics Co., Ltd. (South Korea) Toshiba Corporation (Japan), SK Hynix Semiconductor, Inc. (South Korea), Micron Technology, Inc. (U.S.), Intel Corporation (U.S.), and SanDisk Corporation (U.S.).
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