The memory integrated circuits market revenue totaled US$ 2.5 Billion by the end of 2021. The memory integrated circuits market is expected to reach US$ 5.4 Billion by 2032, as it is estimated to grow at a CAGR of 7.3% from 2022 to 2032.
| Attributes | Details |
|---|---|
| Estimated Year (2022) Market Value | US$ 2.6 Billion |
| Projected Year (2032) Market Value | US$ 5.4 Billion |
| CAGR% (2022 to 2032) | 7.3% |
| Top 5 Vendor Market Share | Around 45% |
Memory integrated circuits are the types of integrated circuits used in digital devices to store the data of a computer device or are implemented in storage devices due to their storage functions Memory integrated circuits are used for both volatile and non-volatile memory for computer devices. Other than computers and smartphones, they can also find applications in various digital and electronic devices.
The memory integrated circuits market consists of 25% of the global data storage market.
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The growth of memory integrated circuits market is estimated to be at the CAGR of 7.3% for the forecast period.
Over the past few years, cloud computing services and solutions have witnessed a stark growth in supply and demand, creating a need for vendors to set up servers and data centres that are densely populated with computers and storage devices. This is fuelling the growth of memory integrated circuits. The growing number of smartphone users is also adding to the memory IC market growth.
Storage devices are a crucial building block of any computer, smartphone, calculator, etc. Most of these devices have both volatile and non-volatile memory on their motherboards, which are different types of memory integrated circuits serving different purposes for the storage of the users' and device's memory.
Storage of data and information is crucial for the operation of any application on a digital device as well as analog/mechanical devices are being developed to become digital, e.g., smart doorknobs and IoT-connected devices. These developments further increase the scope for memory-integrated circuits.
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North America was estimated to hold the largest market share for memory integrated circuits at 27.6% for 2021, and South Asia and the Pacific are estimated to grow at a CAGR of 9.7% for the forecast period.
North America has a large population with a large number of people having an income that they could spend on various electronic devices for their residential purposes. These devices often vary according to the age group, gender, user requirements, and spending power of the consumers.
South Asia and the Pacific have a huge populations, creating a huge demand for consumer electronic devices. This region has a large IT & Telecom industry and cloud implementation is occurring at a good rate, which allows this region to have the highest CAGR.
A certain trend among manufacturers and producers of consumer products can be noted that the cheaper version of any product can be analog or mechanical in nature, but as the prices go up, they can be automated or digital in nature, allowing the memory-integrated circuits market to grow. This, however, may not always be the case, for example, wristwatches and stoves, but can be applicable in the case of robotic vacuum cleaners, smart TVs, and electronic toothbrushes.
The general population in the US has a higher disposable income, allowing them to spend more money on consumer electronics. This country also has a wide-scale implementation of security cameras for public safety and the use of gaming consoles is much higher than in many other countries in this region. For these reasons, the US is a market leader for memory-integrated circuits.
China is the most populated country globally and also has the largest users of smartphones for the same reason. What also needs to be noted is that China is also the manufacturing hub for several electronic devices for several multinational companies.
Apart from multinational vendors, there is also a strong presence of domestic vendors both within the country and outside China. For these reasons, China is a formidable market for memory-integrated circuits.
India follows China and has the highest number of smartphone users, attributed to the fact that India is the second most populated country in the world. The country has made progress on various fronts in terms of infrastructure, industrialization, and the economy, suggesting that there was the right implementation of electronic devices for these developmental purposes, and now that the economy of the country has grown, it has also raised the spending ability of the Indian middle class, allowing the consumer electronic market to grow as well.
These factors contribute to the growth of the memory integrated circuits market in India, which is also estimated to be the fastest-growing country over the forecast period.
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Flash memory chips have the largest market share because of the fact that several digital devices and computers like smartphones and computers have two types of memory, volatile memory, which is the RAM, and non-volatile memory, the ROM which contains the data necessary for the functioning and operation of the device and is basic to any device.
Flash memory is non-volatile by characteristic and is used for creating ROMs, hard disks, and solid-state drives, this allowed flash memory to hold the largest market share for the year 2021 of 32.5%.
Mobile phones have successfully penetrated into the consumer market and have become a necessity, smartphone is one such device that has become a necessary requirement for various purposes in today’s age, due to this reason, an individual may not have any other electronic device, but will most likely possess a smartphone. They are also affordable compared to numerous other electronic devices and can also act as a cheaper replacement for numerous other electronic devices such as music players, TVs, cameras, etc.
Due to this reason, mobile phones had the largest market share of 34.4% for the year 2021.
The memory integrated circuit manufacturers are primarily companies that deal with electronic components. East Asian and North American companies tend to dominate the market in this domain however the market dominance can differ from company to company depending upon the memory type.
| Attribute | Details |
|---|---|
| Market value in 2021 | US$ 2.5 Billion |
| Market CAGR 2022 to 2032 | 7.3% |
| Share of top 5 players | Around 45% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia & Pacific; East Asia; and the Middle East & Africa (MEA) |
| Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey, and South Africa |
| Key Segments Covered | Memory Type, Application, and Region |
| Key Companies Profiled | Microchip Technology; Alliance Memory; NetSource Technology; Samsung; Fujitsu Ltd; STMicroelectronics; Micron; SK Hynix; Mouser; Hybrid Electronics |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Some leading the memory integrated circuits market are Micron, SK Hynix, Alliance Memory, and Microchip.
South Asia & Pacific is estimated to have the highest growth for the memory integrated circuits market during the forecast period at 9.7%.
Allowing devices to store the information required for their operation and demand for ICs in consumer electronics devices for data storage.
Flash memory had the largest market share for the memory integrated circuits market at 32.5% in 2021.
SRAM has the highest CAGR of 8.3% for the forecast period.
USA, UK, Germany, China, and India.
The market share of South Asia and Pacific for the year 2021 for the memory integrated circuits market was 14.2%.
North America had a market share of 27.6% in 2021 for the memory integrated circuits market.
India has the highest CAGR for the forecast period, which is 9.3%.
The estimated market value for the memory integrated circuits market for the year 2023 is US$ 2.8 Billion.
For the East Asia region, the CAGR for the forecast period is estimated to be 4.2% for the memory integrated circuits market.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Memory Type 6.2. Application 7. Global Market Analysis and Forecast, By Memory Type 7.1. Static Random Access Memory (SRAM) 7.2. Dynamic Random Access Memory (DRAM) 7.3. Flash Memory 7.4. Electrically Erasable Programmable Read Only Memory (EEPROM) 7.5. Others 8. Global Market Analysis and Forecast, By Application 8.1. Mobile Phones 8.2. Smart Phones 8.3. Tablets 8.4. PC 8.5. Medical Devices 8.6. Smart Cards 8.7. Digital Cameras 8.8. Others 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. East Asia 9.5. South Asia & Pacific 9.6. Middle East & Africa (MEA) 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Europe Sales Analysis and Forecast, by Key Segments and Countries 13. East Asia Sales Analysis and Forecast, by Key Segments and Countries 14. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries 15. Middle East & Africa (MEA) Sales Analysis and Forecast, by Key Segments and Countries 16. Sales Forecast by Memory Type and Application for 30 Countries 17. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 18. Company Profile 18.1. Microchip Technology 18.2. Alliance Memory 18.3. NetSource Technology 18.4. Samsung 18.5. Fujitsu Ltd 18.6. STMicroelectronics 18.7. Micron 18.8. SK Hynix 18.9. Mouser 18.10. Hybrid Electronics
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Memory Integrated Circuits (IC) Market
