Rising demand for business storage applications, the necessity for low power consumption, and high bandwidth and highly accessible memory devices are some important factors driving the Next-Generation Memory Market.
JERSEY CITY, N.J., Aug. 23, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Next-Generation Memory Market" By Technology (Volatile and Non-volatile), By Type (Mass Storage and Embedded Storage), By Application (Consumer Electronics, Enterprise Storage), and By Geography. According to Verified Market Research, the Next-Generation Memory Market size was valued at USD 4.37 Billion in 2021 and is projected to reach USD 25.38 Billion by 2030, growing at a CAGR of 26.19% from 2022 to 2030.
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Browse in-depth TOC on "Next-Generation Memory Market"
202 - Pages
126 - Tables
37 - Figures
Global Next-Generation Memory Market Overview
The demand for next-generation memory devices is driving the market. Most new memory technologies seek to become universal memories to replace one of the previous members of the same memory storage with improved technology. High-end laptops use solid-state drives (SSDs) instead of massive mechanical hard discs (HDDs), and the cloud is used for backup rather than tape drives.
Data centers are now required to analyze and store more information than ever, owing to emerging technologies such as artificial intelligence (AI), big data, and the internet of things (IoT). These data centers require a large amount of next-generation memory devices to perform at better speed with high efficiency to yield better results. To fulfill the demand of this data-driven digital world, the need for these kinds of memory devices has grown immensely. But the next-generation memory market is also vulnerable to a lack of stability quantum under extreme climatic circumstances. These characteristics significantly impact the memory devices' dependability and durability.
Key Developments
- In November 2021, Samsung Electronics, the world leader in advanced memory technology, announced the development of the industry's first Double Data Rate 5X (LPDDR5X) DRAM. It is a 14-nanometer (nm) based 16-gigabit (Gb) Low Power RAM designed to drive further growth across high-speed data service applications such as 5G, AI, and the metaverse.
- In May 2022, Western Digital unveiled a series of new products as it attempts to solidify its position as the industry leader in the increasingly important storage business. Western Digital has introduced two new products: 26TB hard drives and 15TB server SSDs. The Ultrastar DC HC670 drives feature shingled magnetic recording, or SMR, to increase the quantity of data stored.
Key Players
The major players in the market are Intel, Toshiba, Fujitsu, Honeywell International, Micron Technology, SK Hynix, Western Digital, Samsung, Everspin, Microchip Technology, and Adesto Technologies.
Verified Market Research has segmented the Global Next-Generation Memory Market On the basis of Technology, Type, Application, and Geography.
- Next-Generation Memory Market, By Technology
- Volatile
- Non-volatile
- Next-Generation Memory Market, By Type
- Mass Storage
- Embedded Storage
- Next-Generation Memory Market, By Application
- Consumer Electronics
- Enterprise Storage
- Others
- Next-Generation Memory Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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