Market Trends of NAND Flash Memory Industry
The Smartphone Segment is Expected to Witness Significant Growth
- Flash memory storage has become an essential component of smartphones. The NAND flash demand has been growing exponentially, primarily driven by the growth of the average capacity of 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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Asia-Pacific to Hold a Significant Market Share
- Asia-Pacific is one of the biggest markets for NAND flash memories across the world. The region has a very high demand from almost all end-user applications, primarily led by the demand for smartphones in multiple developing countries in the region, such as China, India, and Indonesia.
- Also, there is high activity from the semiconductor fabrication facilities in countries like China, Korea, and Singapore. An immense amount of capital is directed into the Chinese market by several multinational memory manufacturers, especially boosted by the country's government initiatives, such as Made in China 2025.
- The country's ambitious goal is to reach USD 305 billion in semiconductor output by 2030 and meet at least 80% of the domestic demand for semiconductors, which is expected to draw more investments into the country over the forecast period.
- Multiple new companies in China, such as Yangtze River Storage Technology, Fujian Jin Hua, Hua Li, and Hefei Chang Xin Memory, are expected to invest heavily in the region. These companies are also expected to double their equipment investments.
- Owing to such development in multiple countries, various competitors in the region are intensifying their efforts for expansion.
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