Flash Memory Market Overview
The global Flash Memory Market is expected to reach USD 80.0 billion by 2025 at a CAGR of 4.95% during the forecast period. Market Research Future (MRFR), in its report, envelops segmentation and drivers to provide a better glimpse of the market in the coming years. NOR flash memory technology has been a very popular and dependable technology in automobiles for many years. This flash memory system is used in various automotive systems, including instrument clusters, infotainment systems, and telematics systems. Rapid technological innovations in the automotive industry are likely to fuel the growth of the market for a reliable flash memory system.
The key players of the global Flash Memory Market are Infineon Technologies AG, Intel Corporation, Micron Technology, Inc., SK HYNIX INC., KIOXIA Holdings Corporation, Microchip Technology, Inc., ON Semiconductor, Seagate Technology LLC, Transcend Information, Inc., Silicon Motion Technology Corp., JMICRON Technology Corporation, VIA Technologies, INC., Realtek Semiconductor Corp., Marvell, Western Digital Corporation, Integrated Silicon Solution Inc., Phison Electronics Corporation, and AMIC Technology Corporation among others.
In October 2018, Cypress Semiconductor Corporation, a subsidiary of Infineon Technologies AG launched 1.8V high-speed serial NOR flash memory. This provides high densities coupled with flexibility and fast performance required by a variety of mobile and embedded applications.
In May 2018, Intel Corporation signed a contract with Micron Technology Inc. for production and shipment of the industry’s first 4bits/cell 3D NAND technology. These companies also announced the development of the third-generation 96-tier 3D NAND structure.
In February 2018, SK Hynix Inc. has completed the development of an enterprise SATA solid-state drive (eSSD) with the 72-layer storage 512Gb 3D NAND flash memory chip. This has helped the company fully enter the high value-added eSSD market.
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The global flash memory market has been segmented based on Type, Component, Application, and region.
Based on component, the global market has been segmented into Memory Chips, Flash Controller. The memory chips segment accounted for the largest market share in 2019; it is expected to register a CAGR of 5.07% during the forecast period. Flash memory chips are programmable chips that can be erased and reprogrammed in blocks instead of one byte. These chips are non-volatile and do not need a constant power supply to retain their data. Flash memory chips offer extremely fast access most of the time with low power consumption and are immune to shock or vibration. A flash controller is an important component of flash memory that helps in communicating with the host device, managing the flash file system directory. It provides an easy interface to access NAND flash memory devices. Flash memory also helps to correct the 1-bit error and detect 2-bit errors.
By application, the market has been segmented Smartphone, Digital Camera, USB Flash Drives, Solid-State Drives, Tablet Laptops, Gaming Consoles, Media Players, and Others. The smartphone segment accounted for the largest market share in 2019. The demand for smartphones has been growing at a tremendous rate in the past decade¸ due to the numerous features it offers to its users. Flash memories form an integral part of smartphones to store essential data without requiring power. Photography, both professional and personal, is among one of the most sought-after careers globally. And due to technological development in the sector, numerous digital cameras are now available in the global market. USB flash drives are removable, rewritable, and are very small in size, making it an efficient data storage device. USB flash drives are typically used for data storage, data transfer, and data backup. Solid-state drives are primarily used in computers to store data. They have been widely adopted in computers due to the numerous attributes of solid-state drives including shock resistance, silent operation, and quick access time. The demand for tablets laptops has grown substantially in the last decade for both professional and personal use.
By end-user, the market has been segmented enterprise, industrial, individual/personal. Individual/personal segment accounted for the largest market share in 2019. Companies are increasingly being dependent on flash drives for the storage of essential organizational data. Companies irrelevant of their size store data daily on flash drives for future use or reference. Industrial automation has been growing at a significant rate in the global market, and industries are increasingly being dependent on computers and related equipment for performing operations. Personal use of electronics and electrical equipment has grown significantly in the last decade.
The global flash memory market, by region, has been segmented into North America, Europe, Asia-Pacific, the Middle East Africa, and Central South America. Asia-Pacific accounted for the largest market share of 35.78% in 2019; the market is expected to register the CAGR of 6.25% during the forecast period. Asia-Pacific held the largest market size in 2019 and is expected to hold the largest market size during the forecast period. North America is a prominent region in the flash memory market owing to the increasing adoption of the Internet of Things (IoT) and the rising number of data centers. Moreover, North America is a significant contributor to the growth of global NAND and NOR flash market owing to the presence of key players such as Cypress Semiconductor Corporation, Micron Technology, Inc., and Integrated Silicon Solution Inc.