Americas Flash Memory Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 1.88 % |
| Market Concentration | High |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Americas Flash Memory Market Analysis
The Flash Memory Market was valued at USD 19.17 billion in 2022 and is expected to reach USD 21.04 billion by 2028, registering a CAGR of 1.88% during the forecast period. The market is expected to be driven by the region's rising need for hard disk drives and the demand to install flash memory in various manufactured consumer electronic products. Furthermore, the market will be driven by the demand for Flash memory devices such as NAND and NOR for a wide range of applications across multiple end-users such as communications, automotive, and others.
Flash memory, also referred to as flash storage, is a type of nonvolatile memory that erases data in blocks and rewrites data at the byte level. It can be reprogrammed and wiped clean using electricity. Flash memories, such as SSDs, are gradually replacing hard disc drives (HDDs) due to their speed and dependability, driving the market in regions like the United States, Canada, and others.
Rising demand for low-cost storage solutions across various consumer electronics applications will drive market growth. Furthermore, the comparative advantages of flash memory types such as NAND over alternatives and the increasing proliferation of 5G and IOT devices are expected to drive the market's overall growth.
The North America region, dominated by the United States, is expected to undergo significant growth over the study period owing to factors such as the increasing proliferation of 5G and IOT devices, the growing Telecom industry, and the rising adoption of memory devices in consumer electronics. For example, Ericsson predicts that more than 195 million 5G subscriptions will be available in the United States by 2026, with 5G accounting for roughly 71.5% of the total U.S. mobile market by 2029. Such factors will drive memory device demand.
Moreover, the region remains at the forefront of emerging technology adoption, such as IoT and AI, which is one factor driving the flash memory device market. According to CTA, 22 million homes in the United States already use IoT or smart technology to make life easier. The smart home market is expected to generate USD 23.5 billion in revenue by 2023. (23.2 billion USD in 2021).
Flash memory storage has evolved into a critical component of smartphones. The demand for flash memory devices has been growing exponentially exponentially, primarily due to the average capacity of smartphones. According to the Consumer Technology Association, more than 155 million smartphones were supplied to the United States in 2022, representing a nearly 1% increase from 2021. Furthermore, as smartphone adoption grows, companies add extra features and applications to differentiate their products from competitors.
Flash memory is widely used in data centers and enterprise systems for storage and data transfer. IT storage systems ranging from the data center to the cloud drive demand for flash memory devices. Because of the widespread use of cloud services and the economic disruption caused by COVID-19, the need for data centers in the region has increased dramatically over the last two to three years, which is expected to create a significant demand for flash memory devices.
However, With increasing end-user demand for flash memory devices such as NOR Flash memory, research and development costs are expected to rise. Furthermore, the availability of substitutes is one of the market's challenges. For example, NAND and DRAM are the most commonly used NOR flash memory substitutes. However, in terms of density, NOR flash memory is frequently compared to NAND flash memory.
The COVID-19 outbreak significantly impacted the electronics device sector, as China is a significant supplier of raw materials and finished products to regions such as the United States. Furthermore, prominent electronic companies' sales were impacted during the period. Travel restrictions on people and goods hampered market growth in the short term.
Americas Flash Memory Market Trends
NOR Flash is Expected to Witness Faster Growth Rate
NOR flash is a type of memory and one of the non-volatile storage technologies. It is used in applications where single bytes of data must be written and read. The products are designed to provide lower memory densities than NAND and to reduce power consumption in end-user devices.
The rising demand for NOR flash memory in consumer electronics and communication devices, the emergence of data-centric applications, and the need for increased storage capacity drive the market studied over the forecast period. Furthermore, the increasing emphasis on AI for wearables, consumer electronics, and other applications is becoming a disruptive trend, increasing memory size requirements, which drives the NOR memory devices.
Moreover, because embedded computing devices such as wearables or small IoT devices frequently use NOR flash memory to store very small amounts of executable code, such patterns highlight the enormous demand in the region for the market under consideration. According to CTA, 22 million homes in the United States already use IoT or smart technology to make life easier. The smart home market is expected to generate USD 23.5 billion in revenue by 2023. (23.2 billion USD in 2021) which creates the need for Flash memory-based devices.
To meet demand and maintain a competitive edge in the market, major vendors in the area are constantly investing in various product innovations, acquisitions, and expansions. For example, in August 2022, Micron, the company that owns the Crucial RAM brand, announced a USD 40 billion investment over the next ten years to build cutting-edge memory production facilities in the United States. One of the major factors driving demand for NOR Flash devices is the company's intention to manufacture memory chips after 2025.
In addition, Microchip announced the SST26LF064RT, a 64-Mbit serial quad I/O NOR flash memory device for demanding aerospace and defense systems, in April 2022. The COTS memory technology device is radiation resistant and can operate in a total ionizing dose (TID) environment of 50 kilorads (krads). Microchip's second SuperFlash device was designed to reduce system development time, cost, and risk. Such advancements are expected to propel the market.
The region's industrial segment is also expected to drive the market for a significant share. In robots, NOR flash is used as an embedded device for code execution. With the increased adoption of industrial robots in the region, the market for NOR Flash memory is expected to grow rapidly. According to IFR, robotic installations in the Americas will increase by 31% to 50,712 units in 2021, up from 34,987 units in 2020. Such factors will drive the need for flash memory devices to be installed in various applications.
Furthermore, implementing the 5G network has fueled the market's post-lockdown expansion. According to CTIA, 5G networks cover over 315 million Americans, one in every three American adults owns a 5G device, and 5G is the fastest-growing market for home internet. Furthermore, the GSMA predicts that 5G technology will account for 63% of total mobile subscribers in North America by 2025, up from 13% in 2021. Such factors will also drive the demand for NOR Flash memory devices in the communications sector.
Automotive is Expected to Drive the Market
The Americas is a significant market in the automotive industry. The total number of vehicles produced in the United States alone accounts for a significant portion of global production. For example, the Organization Internationale des Constructeurs d'Automobiles (OICA) estimates that the United States produced approximately 9.2 million automobiles in 2021. In 2021, about 13.43 million cars were produced in North America. With such a significant share in vehicle production, the market for flash memory will be driven in the region like the United States.
The demand for Flash memory devices used in automotive applications has steadily increased. For example, NOR Flash is used in infotainment and engine control applications. However, as advancements in automotive computerization continue, Flash memory devices are finding use in a broader range of automotive applications.
For instance, NOR Flash memory, in particular, has seen rapid demand growth in advanced driver-assistance systems (ADAS), digital instrument clusters, and infotainment systems. One of the primary factors driving demand for these systems in recent years has been growing awareness of the importance of ADAS in reducing car accidents. Many countries in the Americas have passed legislation requiring various types of ADAS in passenger vehicles. For example, since 2018, new vehicles sold in Canada must have a backup camera, an ADAS feature.
The growing popularity of self-driving or autonomous vehicles is a significant growth driver for the ADAS market, necessitating the installation of Flash memory devices in vehicles. Furthermore, high-capacity NAND Flash memory modules are essential in various automotive applications and systems. To succeed, the transition to autonomous and electrically powered vehicles and the resulting transition to a centralized vehicle architecture requires high-performance, high-bandwidth, stable, and secure memory. With increased global sales of cars and EVs, demand for memory products is expected to rise.
Storage devices are expected to last as long as the vehicle is on the road and meets automotive-grade qualifications. Automakers, Tier 1 system designers, and other critical stakeholders in the automotive supply chain are quickly adopting NAND flash storage solutions such as embedded Multimedia Card (eMMC), Universal Flash Storage (UFS), and Solid-State Drives (SSD) for performance, reliability, longevity, and security considerations.
Micron Technology, Inc., for example, announced in March 2022 that it had begun volume production of the world's first 232-layer NAND, built with industry-leading innovations to drive unprecedented performance for storage solutions. Micron's 232-layer NAND technology enables high-performance storage for advanced solutions and real-time services in data centers and automotive applications. Such advancements are expected to drive the demand for Flash memory devices catering to the Automotive segment.
The flash memory market is expected to be driven by advanced driver assistance systems (ADAS) applications, infotainment/telematics, and cluster/instrumentation in the Canadian automobile industry. Furthermore, motor vehicles and parts are one of Canada's two most important manufacturing industries, according to Canadian Manufacturers and Exporters. Furthermore, increased memory and storage device demand for next-generation connected automobiles and automotive safety systems is driving market growth.
Americas Flash Memory Industry Overview
The Americas Flash Memory market is fairly consolidated, with a few vendors controlling a sizable portion of the market. Keysight Technologies, Rohde & Schwarz, and others are among the key players. These players use product launches, collaboration, and partnerships, among other strategic initiatives, to gain a competitive advantage in the regional market.
In March 2023, Western Digital WDC and Kioxia Corporation announced the release of their latest 3D flash memory technology, which employs advanced scaling and wafer bonding techniques. This technology is ideal for exponential data growth and data-centric applications like smartphones, IoT devices, and data centers. Because of its 218-layer 3D flash that leverages 1Tb triple-level-cell and quad-level-cell with four planes, the new 3D flash memory technology is the eighth-generation BiCS FLASH with the highest bit density.
In August 2022, NEO Semiconductor, a developer of innovative architectures for 3D NAND flash and DRAM memory, announced the release of its latest technology offering, X-DRAM, at the Flash Memory Summit 2022. X-DRAM outperforms conventional DRAM by lowering power consumption and increasing the performance of the main memory used in IT systems and consumer products. It also reduces main memory latency and closes the performance gap between the processor and the memory.
Americas Flash Memory Market Leaders
Infineon Technologies AG
Micron Technology Inc.
Samsung Electronics
Integrated Silicon Solution Inc.
NEO Semiconductor
*Disclaimer: Major Players sorted in no particular order
Americas Flash Memory Market News
- February 2023: Frontgrade, a global provider of mission-critical electronics for aerospace and defense, announced the release of the world's first PEM Qualified 3D TLC 4Tb NAND Flash Memory for space applications. Frontgrade flight units will assist users in meeting the demand for mass memory storage requirements, and the device has a 132-ball JEDEC footprint, measures 12x18x1.4mm, and weighs 0.5gm. It is expected to be the highest-performance NAND memory for space, with a data transaction throughput of 10Gbps.
- February 2023: Infineon Technologies AG has launched the SEMPER Nano NOR Flash memory optimized for battery-powered, small-form-factor electronic devices. Arising wearable and industrial applications, including hearables, fitness trackers, health monitors, GPS trackers, and drones, enables more precision tracking, critical information logging, noise cancellation, enhanced security, and more.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Supply Chain Analysis
4.3 Impact of macro trends (post-COVID-19 scenario, supply chain disruptions, and economic uncertainties among others) on the Market
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Demand for Data Centers
5.1.2 Growing Applications of IoT
5.2 Market Restraints
5.2.1 Reliability Issues
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 NAND Flash Memory
6.1.1.1 By Density
6.1.1.1.1 128 MB & LESS
6.1.1.1.2 512 MB & LESS
6.1.1.1.3 2 GIGABIT & LESS (greater than 1GB)
6.1.1.1.4 256 MB & LESS
6.1.1.1.5 1 GIGABIT & LESS
6.1.1.1.6 4 GIGABIT & LESS (greater than 2GB)
6.1.2 NOR Flash Memory
6.1.2.1 By Density
6.1.2.1.1 2 MEGABIT & LESS
6.1.2.1.2 4 MEGABIT & LESS (greater than 2MB)
6.1.2.1.3 8 MEGABIT & LESS (greater than 4MB)
6.1.2.1.4 16 MEGABIT & LESS (greater than 8MB)
6.1.2.1.5 32 MEGABIT & LESS (greater than 16MB)
6.1.2.1.6 64 MEGABIT & LESS (greater than 32MB)
6.2 By End User
6.2.1 Data Center (Enterprise and Servers)
6.2.2 Automotive
6.2.3 Mobile & Tablets
6.2.4 Client (PC, Client SSD)
6.2.5 Other End-user Applications
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Infineon Technologies AG
7.1.2 Micron Technology Inc.
7.1.3 Samsung Electronics
7.1.4 Kioxia Corporation
7.1.5 Western Digital Corporation
7.1.6 Intel Corporation
7.1.7 Microchip Technology Inc.
7.1.8 Integrated Silicon Solution Inc.
7.1.9 NEO Semiconductor
7.1.10 Intel Corporation
7.1.11 Western Digital Corporation
- *List Not Exhaustive
8. VENDOR MARKET SHARE
9. INVESTMENT ANALYSIS
10. MARKET OPPORTUNITIES AND FUTURE TRENDS
Americas Flash Memory Industry Segmentation
Flash memory is a non-volatile electronic computer memory storage medium that can be erased and reprogrammed electrically. Flash memory is widely used in embedded systems to store data and code. Unlike traditional hard drives, flash memory can store data even after the power is turned off. NOR flash and NAND flash are the two main types of flash memory. Both employ the same cell design, which consists of a floating gate. The market study comprises the value and volume of flash memory.
The Americas Flash Memory Market is segmented by Type (NOR Flash Memory (By Density (2 MEGABIT & LESS, 4 MEGABIT & LESS (greater than 2MB), 8 MEGABIT & LESS (greater than 4MB), 16 MEGABIT & LESS (greater than 8MB), 32 MEGABIT & LESS (greater than 16MB), 64 MEGABIT & LESS (greater than 32MB))), NAND Flash Memory (By Density (128 MB & LESS, 512 MB & LESS, 2 GIGABIT & LESS (greater than 1GB), 256 MB & LESS, 1 GIGABIT & LESS, 4 GIGABIT & LESS (greater than 2GB))), By End User (Data Center (Enterprise and Servers), Automotive, Mobile and Tablet, Client (PC, Client SSD)). The report offers the market size in value terms in USD for all the abovementioned segments.
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| Data Center (Enterprise and Servers) | |
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| Mobile & Tablets | |
| Client (PC, Client SSD) | |
| Other End-user Applications |
Frequently Asked Questions
What is the current Americas Flash Memory Market size?
The Americas Flash Memory Market is projected to register a CAGR of 1.88% during the forecast period (2024-2029)
Who are the key players in Americas Flash Memory Market?
Infineon Technologies AG, Micron Technology Inc., Samsung Electronics, Integrated Silicon Solution Inc. and NEO Semiconductor are the major companies operating in the Americas Flash Memory Market.
What years does this Americas Flash Memory Market cover?
The report covers the Americas Flash Memory Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Americas Flash Memory Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Americas Flash Memory Industry Report
Statistics for the 2024 Americas Flash Memory market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Americas Flash Memory analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
