According to the latest report by IMARC Group, titled "Automotive Memory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global automotive memory market size reached US$ 5.3 Billion in 2022. Automotive memory refers to a data storing, accessing, and transferring solution required for the smooth functioning of various automotive systems. It comprises dynamic random-access memory (DRAM), static random-access memory (SRAM), read-only memory (ROM), FLASH-based storage, and magneto-resistive random-access memory (MRAM) testing. It enables faster processing of data and provides better performance in various systems, such as the engine control unit (ECU) and advanced driver assistance systems (ADAS). It assists in reducing power consumption and enhances the overall efficiency of electronic systems. It also helps convey information between functions in the vehicle and make instant decisions after analyzing real time data to ensure comfort and safe driving without any human intervention.
Global Automotive Memory Market Trends:
The increasing sales of electric or luxury vehicles due to rapid urbanization and rising disposable incomes represent one of the major factors driving the demand for automotive memory around the world. Moreover, the growing adoption of ADAS in vehicles, which require high performance memory to enable real time processing of data from multiple sensors, is influencing the market positively. In addition, there is a rise in the need for onboard and cloud technologies in vehicles to perform surveillance, automatic trolling, lane, parking, and traffic signal management operations. This, coupled with the increasing adoption of safety electronics, such as airbags, robust chassis, blind-spot displays, obstacle identifiers, traction control, and sensor-guided solutions, is favoring the growth of the market. Apart from this, the advent of advanced automotive memory solutions that can withstand the harsh operating conditions of vehicles like extreme temperatures, vibration, and electrical noise is creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 12.2 Billion by 2028, exhibiting a CAGR of 13.4% during 2023-2028.
- On the basis of the product, the market has been segmented into DRAM, NAND, SRAM, NOR, and others. At present, DRAM holds the largest market share.
- Based on the vehicle type, the market has been divided into passenger vehicles and commercial vehicles. Presently, passenger vehicles exhibit a clear dominance in the market.
- On the basis of the application, the market has been categorized into infotainment and connectivity, ADAS, and others.
- Region wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and the Middle East and Africa. Amongst these, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others) enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Infineon Technologies AG, Integrated Silicon Solution Inc., Macronix International Co. Ltd., Micron Technology Inc., Nanya Technology Corporation, Renesas Electronics Corporation, Samsung Electronics Co. Ltd., SK hynix Inc., Texas Instruments Incorporated, Western Digital Corporation and Winbond Electronics Corporation.
|Base Year of the Analysis
||Product, Vehicle Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Infineon Technologies AG, Integrated Silicon Solution Inc., Macronix International Co. Ltd., Micron Technology Inc., Nanya Technology Corporation, Renesas Electronics Corporation, Samsung Electronics Co. Ltd., SK hynix Inc., Texas Instruments Incorporated, Western Digital Corporation and Winbond Electronics Corporation.
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