Flash Memory Market projected to reach USD 80 BN by 2025, growing at a 4.9% CAGR by Rising Advances in Storage Technologies Drive the Global Market

iCrowd Newswire
27 Sep 2022, 23:18 GMT+10

The flash memory market witnesses rapid traction due to the augmenting demand for highly scalable memory devices from smartphones, laptops, and computer industries. Besides, the rising use of connected & wearable devices creates substantial market demand. Embedded systems rely on SPI NOR flash for boot code and parallel NAND flash for data storage.

The rising demand for flash memory devices from industrial, medical, and automotive applications will support the market growth in the coming years. Market Research Future (MRFR) states that the global flash memory market valuation is estimated to escalate from USD 62.06 BN in 2019 to USD 80 BN by 2025, growing at a 4.9% CAGR during the review period (2020-2025).

Advances in storage technologies accelerate the growth of the market. Besides, the rising usage of the internet and smart connected devices foster the flash memory industry, generating data. The increasing demand for non-volatile RAM to provide conditional access security keys and hack-resistance storage with excellent content and network access protection influences the market growth.

Report Scope:

Report Attribute/Metric

Details

Market Size in 2030

USD 80.0 Billion

Growth rate:

CAGR of 4.95% from 2022 to 2030

Forecast Period

2020-2027

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Market USP Covered

Industry Trends

Several markets are turning to SPI NAND flash memory products to reduce BOM costs. This not only offers superior performance but also increased reliability, faster boot-up, and higher writes, boosting speeds in a smaller form factor. Resultantly, flash memory deployments are growing continually in industrial applications, escalating the growth of the market.

Increasing usages of high capacity OTP NOR flash memory in next-generation set-top box chips influence the market growth. Moreover, the increasing demand for flash memory positively impacts the flash memory market growth. Effective inventory control and tracking systems that can efficiently accommodate changing business conditions witness significant demand.

The rising adoption of flash memory devices in increasing numbers of businesses worldwide pushes market development. Conversely, high initial investments required to purchase and deploy flash memory are a significant factor projected to obstruct market growth. Industrial NAND flash devices include solid-state drives (SSDs), standard removable memory devices, cards, modules, and ICs for cybersecurity.

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Segments

The flash memory market is segmented into types, components, applications, end-users, and regions. The type segment is sub-segmented into NAND and NOR flash memory. The component segment is sub-segmented into memory chips, flash controllers, and others.

The application segment is sub-segmented into smartphones, digital cameras, USB flash drives, solid-state drives, tablets & laptops, gaming consoles, media players, and others. The end-user segment is sub-segmented into enterprises, industrial, individual/personal, and others. The region segment is bifurcated into the Americas, Asia-Pacific, Europe, and rest-of-the-world.

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Regional Analysis

The Asia Pacific region dominates the global flash memory market, witnessing significant adoption of NOR and NAND memory devices in various applications. Besides, the presence of notable industry players, alongside the rapid economic growth and industrialization in the region, drives the market share. Increasing numbers of start-ups in the region foster the flash memory market growth, demanding backup facilities for increasing data accumulation.

North America is another lucrative market for flash memory devices. The strong presence of many notable players and well-established development centers drive the market growth, allowing the early adoption of advanced storage technologies. Additionally, broad uptake and advances in storage technologies boost the growth of the regional market. Increasing investments transpired in technology developments propel the region's market shares.

The flash memory market in the European region is growing rapidly, with the increasing demand for reliable backup and recovery systems. Moreover, the increasing number of businesses and technological upgrades propel the market size. Countries like France, Germany, Italy, and the UK, are expected to contribute to the market value due to the continued economic growth.

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Competitive Analysis

The flash memory market outlook appears highly competitive, with several well-established players forming a competitive landscape. Players focus on product development & expansion. Industry players seek opportunities to enhance the value chain extensively, focusing on R&D investments and strategic initiatives. New entrants enter the market with competitive pricing to gain footholds in international markets.

For instance, on Sep. 13, 2022, IOXIA America, Inc. introduced a new industrial-grade flash memory device – BiCS FLASH 3D Flash Memory, delivering reliability, ruggedness, and support for industrial temperatures. This new lineup can support the unique requirements of industrial applications, including telecommunication, networking, embedded computing, and much more. KIOXIA also offers a wide temperature range of low-density SLC flash memory solutions designed to support industrial applications.

Players leading the global flash memory market include Toshiba (Japan), Samsung (South Korea), Intel (US), IM Flash (US), SanDisk (US), Micron Technology, Inc. (US), SK Hynix (South Korea), Cypress Semiconductor Corporation (US), STMicroelectronics (Switzerland), and Qimonda (Germany), among others.

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