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Semiconductor Memory Market Worth US$ 735 Bn by 2026 | CAGR 29.0% - Acumen Research and Consulting

/EIN News/ -- Semiconductor Memory Market (By Type - Non-volatile Memory [ROM, EPROM, PROM, EEPROM, Flash Memory], Volatile Memory [RAM, SRAM, DRAM, SDRAM]; By Application - Consumer Electronics, Automotive, Industrial, Medical, Aerospace And Defense, Telecommunications, Others) - Global Industry Size, Share, Trends and Forecast 2018 - 2026; Proliferation of Smartphone, Ongoing Technological Advancements, Digital Evolution in Electronic Industry and Increasing Utilization of Semiconductor Components in Various Industries to Drive The Market Growth

LOS ANGELES, Jan. 10, 2019 (GLOBE NEWSWIRE) -- Semiconductor memory is necessary part for today’s electronic devices. It’s a device in which digital information is maintained by using IC (Integrated Circuit) technology. The global semiconductor memory market is anticipated to expand at a stable CAGR during the forecast period 2018 to 2026. According to the report titled “Semiconductor Memory Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018-2026”. Proliferation of Smartphone, ongoing technological advancements, digital evolution in electronic industry and increasing utilization of semiconductor components in various industries are some of the fundamental factors that are driving the global semiconductor memory market growth globally. Asia-Pacific is anticipated to witness the fastest growth over the forecast period owing to increased adoption and usage of handheld electronic devices such as tablets and smartphones.

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Increasing Demand for Consumer Electronics and Technological Advancements To Impel The Market Growth

The worldwide semiconductor memory market is anticipated to develop at quick pace over the estimate time frame attributable to growing popularity for smartphones and introduction of technologically innovative smart devices. Rapidly increasing mobile computing and rising penetration of Solid-State Drives (SSD) is likewise foreseen to drive the growth of worldwide semiconductor memory market over the forecast time period. Furthermore, developing demand over the consumer electronic industry is expected to affect the overall market positively in coming years. Traditionally, the consumer electronics always demand higher power dissipation and quicker speeds.

The miniaturization and integration of semiconductors have given rise to lighter, smaller, compact and increasingly versatile portable devices, similar to tablets, smart phones, and the advanced IoT devices. Every emphasis of a consumer electronics item is getting to be more astute, lighter, and more proficient than its predecessors. With this level of technological innovation, buyers are presently inclining toward reliable devices that could stand minor incidents that occur in everyday activities. Growing demand for smart, efficient and power saving household devices is forcing the consumer electronics manufacturers to offer high-quality products.  Furthermore, numerous smart electronics including smartphones, wireless communication equipment, and telemetry devices are rapidly integrating this technology, resulting into increasing demand for semiconductor memory IP.     

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Asia-Pacific to Occupy Significant Share in Semiconductor Memory Market

Geographically, the global semiconductor memory market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific is anticipated to grow at highest CAGR and contribute significant market share in 2026 owing to the growing demand for consumer electronics and increasing popularity for smartphones in the region. Continuously growing technological advancements in handheld devices, growing awareness towards these products and growth in semiconductor industry are propelling the overall growth of the regional market. Factors such as rising industrial application, economic developments and increasing disposable income are anticipated to further expand the growth of the semiconductor memory market in the region. Additionally, presence of numerous major electronics manufacturers and increasing use of connected devices are some of the major factors that supplementing the regional market growth. China market is witnessing high growth for integrated products and memory solutions in order to address the constantly increasing requirements of electronics and automotive manufacturing operations. North America is also expected to grow at considerable growth rate during the forecast period owing to the massive demand for memory solutions due to the developments in electronics and automotive sectors. Continuous development of autonomous vehicles and the integration of automatic security systems into all new vehicles are creating various opportunities in the regional market. Furthermore, growing utilization of smart devices and digital technologies across various industry verticals are boosting the growth of semiconductor memory market.

Market Players

The semiconductor memory market is consolidated with limited number of manufacturers. The company profiling of key players in the market includes company overview, major business strategies and revenues. The key players of the market are NXP Semiconductors, Intel Corporation, Cypress Semiconductor Corporation, SK Hynix, Inc., Microchip Technology, Inc., Micron Technology, Inc., Samsung Electronics Co., Ltd. and Renesas Electronics Corporation. Technological advancements in the semiconductor industry and the integration of smart technologies are boosting the expansion of the latest components. To address the continuously growing requirements of electronics industry, manufacturers are adopting various product development strategies.

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