Memory IC Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Memory IC Market Analysis
The Memory Integrated Circuit market is anticipated to witness a CAGR of 7.6% over the forecast period. Recent technological advancements in this field have been revealing new applications each day. The rising proliferation of smartphones, feature phones, and tablets, growing demand for low-power memory requirements in portable wireless devices, and increasing demand for Solid State Drives (SSD) in big data storage applications are some of the significant factors influencing the growth of the market for memory integrated circuit devices.
- Memory ICs are mainly applied in memory-based electronic devices such as mobile phones, computers, tablets, medical devices, smart cards, digital cameras, communication equipment, and other digital electronic devices.
- The application of memory IC is very predominant in smartphones, media players, and USB drives. The demand for sophisticated memory ICs is expected to grow at a high rate owing to increasing adoption and enhancements in smartphone devices. Tablets are one other device with a significant need for memory IC. With the increasing adoption of tablet PCs, the demand for memory ICs is expected to grow over the forecast period.
- Moreover, The global economy has been significantly impacted by COVID-19's effects on the manufacturing sector. But post-pandemic, OEM production has increased, and there is a rise in demand for mobile phones and other consumer electronics, which has boosted the growth of the memory IC market. Expanding various capital budgets and ongoing projects in numerous end-user industries will also help to strengthen the world economy.
- Additionally, the Healthcare industry is another key application area of memory ICs. The increasing need to provide secure access to emergency medical information creates a scope for memory ICs in the healthcare sector.
- Devices with memory ICs can help maintain patient records in various medical equipment like blood analysis devices, electrocardiographs, diagnostic imaging apparatus, medical PCs, and other electronic health record systems. According to the National Center for Health Statistics statistics, the market for electronic health record systems is expected to reach USD 40 billion by 2024.
- Over the past few years, the sharp rise in demand and supply for cloud computing services and solutions has compelled vendors to set up servers and data centers that are densely packed with computers and storage devices. This is fueling the advancement of memory-integrated circuits. The increasing use of smartphones is also contributing to the growth of the memory IC market.
- On the other hand, the high cost of manufacturing, increasing costs for new and existing fabrication facilities' construction and operation, and sizable capital investment could pose a problem for the global industry over the forecast years. Manufacturers of memory ICs are anticipated to carry out operational development programs for already-available memory products to address these challenges.
Memory IC Market Trends
This section covers the major market trends shaping the Memory IC Market according to our research experts:
Rising Proliferation of Smartphones, Feature Phones, and Tablets
- Memory integrated circuits are used in mobile phones' circuits to provide storage for the phone's operating system and customizable features, such as the phone directory. They are used to enable the functions of amplifiers, oscillators, time-counter computer memory, microprocessors, etc.
- The integrated circuit market is anticipated to record robust growth, owing to the ongoing developments in the smartphone industry. Intense competition among mobile manufacturers is expected to drive the market's growth further studied over the forecast period. Samsung's recent offering includes a solution that allows phones to have one terabyte of storage with a single flash memory chip. This chip is expected to bring a notebook-like user experience to the next generation of mobile devices.
- The growth of the smartphone application market is attributed to the popularity of smartphones and the increasing demand for memory ICs in these gadgets. The market for smartphone applications is growing, and the industry that serves this market is prospering as cloud-based applications gain popularity and mobile data usage increases.
- According to Ericsson, Over 6.0 billion people subscribe to smartphones, and over the next few years, that number is expected to increase by several hundred million more. The nations with the most smartphone users are China, India, and the United States. Despite stagnant unit sales over the past few years, the global smartphone market's revenue increased because the average selling price of smartphones increased. Such a rise in smartphones will boost the demand for Memory IC in the future.
- Development in near-field communication (NFC), which leads to the production of dynamic solutions for mobile couponing, mobile ticketing, and access control, is further expected to drive revenue growth.
Asia Pacific to Witness Significant Growth
- The Asia-Pacific region is home to more than 60% of the world's current population. The region's population and consumption of consumer electronics are growing at the highest rate today. The region is expected to record substantial growth in the memory ICs market over the forecast period.
- The growth is primarily attributed to the rise in demand for high-performance and low-power memory ICs from end users in the Asia Pacific region. The rising use of artificial intelligence (AI) and other cutting-edge technologies, which require large amounts of memory storage, as well as the rising popularity of smart devices, are contributing factors to the rising demand for high-performance and low-power memory ICs.
- Large populations in South Asia and the Pacific are driving up demand for consumer electronics. This region has a sizable IT and telecom sector, and cloud adoption is progressing well, enabling it to have the highest CAGR. Due to its high population, China has the highest percentage of smartphone users worldwide. It should be noted that China serves as a major manufacturing hub for a number of multinational corporations' electronic product lines.
- In addition to international vendors, there is a significant domestic vendor presence inside and outside China. These factors make China an extremely competitive market for memory-integrated circuits.
- India has also made a number of advancements in the areas of infrastructure, industrialization, and economic development, demonstrating the efficient use of electronic devices for these developmental objectives. The country's growing economy has given the middle class more purchasing power, which has increased the consumer electronics market.
- The presence of prominent semiconductor companies in the region is expected to boost the growth of the market. Besides, the increasing number of suppliers of semiconductor material required to manufacture ICs is boosting the production of memory ICs. Asia-Pacific is closely followed by North America owing to the development of the medical and automobile sector along with consumer electronics.
Memory IC Industry Overview
The Memory Integrated Circuit (IC) Market is expected to be consolidated over the forecast period. The major players with a prominent share in the market are focusing on product developments and strategic collaborative initiatives to increase their market share and profitability. Microchip Technology Inc., STMicroelectronics, ON Semiconductor Corporation, Maxim Integrated Products, Inc., Fujitsu Ltd., Cypress Semiconductor Corporation, ABLIC Inc., Renesas Electronics Corporation, ROHM Semiconductor Co., Ltd., and Adesto Technologies Corporation are some of the major players present in the current market.
- November 2022 - Alliance Memory highlighted its most recent SRAM, DRAM, eMMC, and flash memory ICs for the communications, computing, embedded, Internet of Things (IoT), industrial, and consumer markets when announcing its technology lineup for electronica 2022. The company has also partnered with various distributors for memory ICs.
- August 2022 - SABIC unveiled a compound with exceptional thermal conductivity and electrical insulation properties based on LCP (liquid crystal polymer). To meet the demanding requirements of burn-in test sockets (BiTS) used to stress-test double-data-rate (DDR) memory integrated circuits, the LNP Konduit 8TF36E compound was created. The new substance is ideal for fixed, structural components in BiTS assemblies, such as latches and adaptors.
Memory IC Market Leaders
Microchip Technology Inc.
STMicroelectronics
ON Semiconductor Corporation
Maxim Integrated Products, Inc.
Fujitsu Ltd.
*Disclaimer: Major Players sorted in no particular order
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Memory IC Market News
- December 2022 - Alliance Memory announced the addition of two new 1.8V, 128Mb devices to its AS25F series of multiple input/output serial NOR flash memory products with memory ICs. The AS25F1128MQ-70SIN and AS25F1128MQ-70WIN combine fast read performance up to 133MHz with the fast program and erase times of 0.3ms and 60ms typical, respectively. They support single, dual, and quad SPI modes and have a QPI function. Alliance Memory serves the communications, computing, consumer electronics, medical, automotive, and industrial markets with critical and memory ICs.
- December 2022 - Samsung has built a claimed first-of-its-kind supercomputer containing AMD data center GPUs affixed with its processing-in-memory ICs, in which the company can significantly improve the performance and energy efficiency of training large AI models. The supercomputer includes 96 AMD Instinct MI100 GPUs, each loaded with a processing-in-memory (PIM) chip, a new kind of memory technology that reduces the amount of data needed to move between the CPU and DRAM.
Memory IC Market Report - 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 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Introduction to Market Drivers and Restraints
5.2 Market Drivers
5.2.1 Rising Proliferation of Smartphones, Feature Phones, and Tablets
5.2.2 Growing Demand for Low-power Memory Requirements in Portable Wireless Devices
5.2.3 Increasing Demand for Solid State Drives (SSD) in Big Data Storage Applications
5.3 Market Restraints
5.3.1 High Development Cost of Memory ICs
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 DRAM
6.1.2 Flash
6.1.2.1 NOR
6.1.2.2 NAND
6.1.3 Other Types
6.2 By End-user Industry
6.2.1 Consumer Electronics
6.2.2 Automotive
6.2.3 IT & Telecommunication
6.2.4 Healthcare
6.2.5 Other End-user Industries
6.3 By Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 Latin America
6.3.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Microchip Technology Inc.
7.1.2 STMicroelectronics
7.1.3 ON Semiconductor Corporation
7.1.4 Maxim Integrated Products, Inc.
7.1.5 Fujitsu Ltd.
7.1.6 Cypress Semiconductor Corporation
7.1.7 ABLIC Inc.
7.1.8 Renesas Electronics Corporation
7.1.9 ROHM Semiconductor Co., Ltd.
7.1.10 Adesto Technologies Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Memory IC Industry Segmentation
Memory integrated circuits are integrated circuits implemented in storage devices or used in digital devices to store data for computers. Both volatile and non-volatile memory for computer devices is created using memory-integrated circuits. They can be used in various digital and electronic devices, computers, and smartphones.
The Memory Integrated Circuit (IC) Market is segmented by Type (DRAM, Flash), End-user Industry (Consumer Electronics, Automotive, IT & Telecommunication, Healthcare), and Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| By Type | ||||
| DRAM | ||||
| ||||
| Other Types |
| By End-user Industry | |
| Consumer Electronics | |
| Automotive | |
| IT & Telecommunication | |
| Healthcare | |
| Other End-user Industries |
| By Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| Latin America | |
| Middle East and Africa |
Memory IC Market Research FAQs
What is the current Memory IC Market size?
The Memory IC Market is projected to register a CAGR of 7.60% during the forecast period (2024-2029)
Who are the key players in Memory IC Market?
Microchip Technology Inc., STMicroelectronics, ON Semiconductor Corporation, Maxim Integrated Products, Inc. and Fujitsu Ltd. are the major companies operating in the Memory IC Market.
Which is the fastest growing region in Memory IC Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Memory IC Market?
In 2024, the North America accounts for the largest market share in Memory IC Market.
What years does this Memory IC Market cover?
The report covers the Memory IC Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Memory IC Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Memory IC Industry Report
Statistics for the 2024 Memory IC market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Memory IC analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
