The latest research study “Memory Chip Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global memory chip market size reached US$ 154.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 410.71 Billion by 2027 exhibiting a CAGR of 16.50% during 2022-2027.
Covid-19 Impact: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
A memory chip is an integrated circuit consisting of numerous capacitors and transistors which can store data or process code in computers and other electronic devices. It stores data temporarily through random access memory (RAM) and permanently via read-only memory (ROM). It also offers large storage space despite its miniature size and provides various benefits, such as easy access to computers, cost-effectiveness, reduced phone memory consumption, and non-volatile memory. Consequently, memory chips are widely adopted across information and technology (IT), telecommunication, electronics, and automotive industries
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Memory Chip Market Trends and Drivers:
The market is primarily driven by the increasing deployment of memory-based components in advanced products, such as wearable devices, smartphones, and electronic gadgets. In addition, the rising utilization of semiconductor devices in automobile and electronics systems, such as random-access memory (DRAM) and read-only memory (ROM), represents another major growth-inducing factor.
Moreover, there has been an escalating demand for semiconductor memory chips with higher storage capacities to resolve data center complications in different organizations. This, coupled with the integration of the internet of things (IoT) in several industrial applications to achieve efficient management and manufacturing operations, is positively influencing the market growth. Besides this, the market is also augmented by rapid digitalization and rising automation in the electronics industry.
Other factors, including the growing reliance on smartphones among the masses and extensive research and development (R&D) activities conducted by key players to introduce memory chips that require less time and energy to transfer data while increasing the speed of processors, are anticipated to propel the market growth in the coming years.
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Memory Chip Market Report Scope
|Market size value in 2021||US$ 154.4 Billion|
|Market forecast in 2027||US$ 410.71 Billion|
|Growth Rate||CAGR of 16.50% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Application and Sales Channel|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||ADATA Technology Co. Ltd. , Fujitsu Semiconductor Limited (Fujitsu Limited), Intel Corporation, Kingston Technology Corporation, Micron Technology Inc., NXP Semiconductors N.V., Samsung Electronics Co. Ltd., SK hynix Inc., Taiwan Semiconductor Manufacturing Company Limited, Texas Instruments Incorporated, Toshiba Corporation, Transcend Information Inc. and Western Digital Corporation.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Breakup by Type:
- NAND Flash
Breakup by Application:
Breakup by Sales Channel:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
List of Major Key Players:
The major players in the market are
- ADATA Technology Co. Ltd.
- Fujitsu Semiconductor Limited (Fujitsu Limited)
- Intel Corporation, Kingston Technology Corporation
- Micron Technology Inc.
- NXP Semiconductors N.V.
- Samsung Electronics Co. Ltd.
- SK hynix Inc.
- Taiwan Semiconductor Manufacturing Company Limited,
- Texas Instruments Incorporated
- Toshiba Corporation
- Transcend Information Inc. and Western Digital Corporation
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