NAND Flash Memory Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The NAND flash memory market was valued at USD 46.62 billion in 2020, and it is expected to reach USD 85.36 billion by 2026, registering a CAGR of 11.27% during the forecast period (2021-2026). The current macro trends of AI and machine learning, mobility, and connectivity are favorable to the NAND markets and expected to increase its share in the semiconductor market.

• With the rise of PCs and smartphones, NAND flash consumption is dramatically increasing, much of which is attributed to the growth of the average capacity in smartphones. This is expected to drive the demand for NAND flash packaging, thus influencing the demand for memory packaging.
• According to the Micron, in 2017, the average smartphone contained 43 GB of NAND flash storage, and it is expected to grow substantially over the next four years. By the year 2021, the company estimates that the average phone will have 142 GB of NAND flash storage, with flagship devices having one terabyte of flash storage.
• Other consumer products such as tablets and cameras, along with industrial equipment and sensors, automotive systems and medical devices rely upon flash memory, which are integrated alongside their processors, that stores both data and the code they execute. As demand for massive data processing for artificial intelligence and machine learning applications grows, the trend for flash-based storage will continue to evolve.
• Production of China-based NAND flash vendors were not severely affected by the outbreak of novel COVID-19. This is because the plants are highly automated have relatively low demands for manpower and operators also stocked up with raw materials before the Chinese Lunar New Year. Foundry output were delivered to customers in China because semiconductor fabrication plants hold national special licenses. These allow them to ship their products throughout domestic China, even with cities under quarantine.

Scope of the Report

NAND Flash is a kind of non-volatile storage technology that does not require power in order to retain data. In other words, it is a form of electronically erasable programmable readonly memory (EEPROM). It is programmed, erased, and reprogrammed in large blocks. It's called NAND because at the circuit level, it's similar to the NAND logic function. The scope of the study covers the market on the basis of type of NAND and different applications in smartphones, SSD, Memory Card and Tablet PC across the globe.

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Key Market Trends

Smartphone segment is Expected to Witness Significant Growth

• Flash Memory storage has become an essential component in smartphones. The NAND flash demand has been growing exponentially, primarily driven by the growth of the average capacity in smartphones.
• NAND flash memory in smartphones can significantly enhance the performance of web browsing, email loading, games, and even social network sites such as Facebook. With the increasing adoption of smartphones, companies are adding extra features and applications to differentiate their products from other manufacturers.
• For instance, manufacturers are integrating features such as gesture control, fingerprint scanners, and GPS into the devices. This is boosting the demand for NAND flash memory, which is used as code storage media for smartphones.
• With 5G wireless communication on its way, the use of smartphones would increase multifold, increasing the need for the latest models to raise the bar continuously. For instance, According to the Ericsson Mobility report, in the North American region, 5G subscriptions are expected to account for 55% of mobile subscriptions by the end of 2024.

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