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The global next generation memory market was valued at USD 2465.5 million in 2018, and is expected to reach a value of USD 9624.5 million by 2024, registering a CAGR of 29.7%, during the forecast period of 2019

2024. The emerging non-volatile memory technologies, such as MRAM, STT-RAM, FRAM, phase-change memory (PCM), and ReRAM combine the speed of SRAM, the density of DRAM, and the non-volatility of flash memory.

New York, Oct. 11, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Next Generation Memory Market - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05821471/?utm_source=GNW
Hence, these are the possible additions to the future memory technologies. Moreover, the adoption of next-generation infotainment systems and ADAS would be fusing the DRAM memory technologies that would have much higher performance and low power consumption capabilities.

- Demand for universal memory devices is driving the market. Most of the new memory technologies are aimed at becoming universal memories to replace one of the members of the hierarchy with better technology. The high-end laptops are using solid-state flash chips, instead of huge mechanical hard disks and using the cloud for backup rather than tape drives. Recently, Intel announced Optane, which uses 3D XPoint technology that is close to universal memory. This is primarily a flash drive with non-volatile memory fast enough to function as RAM.
- Increasing demand for enterprise storage applications? is driving the market. The end-user industries, such as BFSI, are investing heavily in IoT technologies and reaping big financial rewards. For instance, embedded MRAM is considered as a promising technology for applications, such as IoT. Also, the other next-generation memories, such as 3D Xpoint, offer 1,000 times faster transfer speeds than the current SSDs. Hence this will drive the market efficiently.
- Lack of stability under extreme environmental conditions is restraining the market. It is greatly impacted by extreme environmental conditions in terms of durability and reliability of memory devices. For instance, the more thermal stress a memory device is exposed to, the more of a risk there is of damaging it, which challenges a market to grow.

Scope of the Report
Next generation memory can be defined as a common label applied to a major upgrade of hardware or a software product. The next generation memory market has grown over the last few years because of the increasing demand for faster, efficient, and cost-effective memory solutions. The emerging Big Data and artificial intelligence (AI) applications, including machine learning, drive innovations across many industries and this is accompanying new memory technologies in various end-users such as BFSI, Consumer Electronics, etc.

Key Market Trends
Information Technology to Significantly Employ Next Generation Storage Technology

- With the growing size of enterprises, many of the companies in the IT sector have adopted the use of enterprise storage technologies. This adoption has been responsible for driving the demand for next-generation storage to handle the computing power of the organizations.
- While many client devices use solid-state storage technologies nowadays, hard disk drives (HDDs) are still used by hundreds of millions of people and across virtually all datacenters worldwide. Heat-assisted magnetic recording (HAMR) technology promises to increase capacities of HDDs significantly in the coming years.
- Though HDD media is still a top seller in the storage industry, the adoption of flash/SSD has been rising fast from the last several years. Owing to the fast data growth, significant media investments are being done highly in this sector. With the adoption of SSD memory storage technologies gradually rising, the need for cost-effective memory technologies is becoming intertwined with it.
- For instance, Fadu Technology is a startup focused on advancing flash storage technology. By deploying a new architecture for Solid State Drive (SSD) controllers, Fadu Technology ushers in a new era of SSD storage by meeting the demands placed on Enterprise and Hyperscale datacenters in Flash Memory Summit 2019.
- These latest memory devices also provide a better architecture, compared to the existing used technologies. Technologies, such as MRAM, are expected to have a better architecture that provides efficiency for the data centers, which will drive the market growth in Information technology segment.

North America to Account for a Major Share

- The North American region has been one of the early adopters of the next-generation technologies and infrastructure. The IT industry significantly drives the economy in the United States. The rapidly changing technologies and high data generation, across the industries, are creating a need for more efficient processing systems. These are some of the factors driving the demand for next-generation memory market in the region.
- Additionally, the US government has started the Data Center Optimization Initiative (DCOI) to deliver better services to the public while increasing return-on-investment to taxpayers, by consolidating many data centers in the country. The consolidation process includes the process for building hyperscale data centers and to shut-off the underperforming ones. Till date, the government has closed over 3,215 data centers in the country.
- Moreover, the memory manufacturing companies in North America are seeking opportunities for production expansions. For instance, Intel has already started the phases of its new fabrication plant in Arizona for manufacturing next-generation memory and storage solutions. For this project, the company spent USD 1 billion as the first phase of investment out of the total cost USD 7 billion.
- Additionally, in March 2019, Cyxtera Technologies expanded its data center facilities in Silicon Valley, Phoenix, Atlanta, New York Metro, and Toronto, with the expansions increasing the total capacity in these markets to more than 1.5 million sq. ft., with an overall company footprint of more than 2.9 million sq. ft.

Competitive Landscape
The next generation memory market is highly fragmented as the market is highly competitive and consists of several major players. The competitive rivalry in this industry is primarily dependent on the sustainable competitive advantage through innovation, levels of market penetration, and power of competitive strategy. Since the market is capital intensive, the barriers to exit are high as well. Some of the key players in the market are Intel Corporation, Toshiba Corporation, Fujitsu Ltd, etc. Some of the key recent developments in the market are -
-Aug 2019 - Samsung announced its 6th generation V-NAND memory with 100 active layers using new circuit design technology. It features 10% lower latencies and consumes 15% lower amount of power when compared to Samsung’s previous-generation V-NAND products. This V-NAND also features lower power consumption than its predecessors.

-July 2019 - Fujitsu Semiconductor announced the release of the 8Mbit ReRAM MB85AS8MT, which is reportedly the world’s largest density as a mass-produced This ReRAM product, suitable for wearable devices, was jointly developed with Panasonic Semiconductor Solutions Co. Ltd. The MB85AS8MT is an EEPROM-compatible non-volatile memory with SPI-interface that operates with a wide range of power supply voltages from 1.6V to 3.6V. One major feature of this memory is an extremely small average current for read operations of 0.15mA at an operating frequency of 5MHz. This enables minimal battery consumption when mounted in battery-operated applications with frequent data-read operations.

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