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Global Memory Chip Market to Reach US$ 410.71 Billion by 2027, Impelled by Increasing Demand for Consumer Electronics

Published on Aug 16, 2022

According to the latest report by IMARC Group, titled “Memory Chip Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global memory chip market reached a value of US$ 154.4 Billion in 2021. A memory chip is an integrated device consisting of capacitors and transistors that can store data and process codes in a computer system and other electronic devices. It is widely used for permanent or temporary data storage in the form of random-access memory (RAM) and read-only memory (ROM). A memory chip is a reliable, cost-effective, portable, and removable semiconducting chip that enhances performance, offers increased storage space, reduces the device’s memory consumption, and provides non-volatile memory. As a result, it finds extensive applications across consumer electronics, automotive, information technology (IT), and telecommunication industries.

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.

Global Memory Chip Market Trends-

The increasing product utilization in manufacturing consumer electronics is one of the key factors driving the growth of the market. Memory chips are widely used in laptops, personal computers (PCs), cameras, smartphones, tablets, and video game consoles to enhance their functioning and provide additional data storage capacity. Furthermore, the increasing demand for smart devices, such as fitness trackers, cards, wireless headsets, smart glasses, and helmets, to track, monitor, and store data automatically is acting as another growth-inducing factor. Apart from this, the introduction of next-generation memory chips, such as processing in memory (PIM) with advanced computing capabilities, cost-effectiveness, and applications in artificial intelligence (AI) and big data analytics, is providing an impetus to the market growth. In line with this, the introduction of a light-based memory chip that utilizes photons of light rather than electrons to carry and store data at improved speeds is positively influencing the market growth. Other factors, including increasing product demand in the automotive industry, the introduction of miniaturized memory chips with enhanced design, and extensive research and development (R&D) activities to develop sustainable memory chips for reducing carbon footprint and saving energy, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market value is expected to reach US$ 410.71 Billion by 2027, exhibiting a CAGR of 16.50% during 2022-2027.

Market Summary:

  • Based on the type, the market has been categorized into volatile (DRAM and SRAM) and non-volatile (PROM, EEPROM, NAND Flash, and others).
  • On the basis of the application, the market has been classified into laptop or PC, camera, smartphone, and others.
  • Based on the sales channel, the market has been bifurcated into OEM and aftermarket.
  • On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined, with some of the key players being 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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