Expanding application of Technologies to grow Nand Flash Memory Market

Nand Flash Memory Market

The global Nand Flash Memory Market is estimated to be valued at US$ 70.25 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Nand flash memory is a type of non-volatile storage technology that offers faster read and write speeds compared to traditional hard disk drives. Nand flash finds application in storage devices, memory cards, solid state drives and other consumer electronics devices owing to advantages like high density, shock resistance and lower power consumption.

Market key trends:

One of the key trends in the Nand flash memory market is the growing adoption of cloud computing and mobility solutions. Organizations are increasingly moving their applications and data to public and private cloud infrastructure to gain efficiencies of scale and centralized management. This has led to higher demand for data center infrastructure including servers and storage solutions that use Nand flash memory. Furthermore, the proliferation of smart devices and IoT applications is fueling growth in the memory market as more data gets generated and stored on both edge and cloud storage infrastructure. Manufacturers are focusing on developing newer and higher density Nand flash chips to support emerging technologies and handle massive data volumes.

Segment Analysis

The NAND Flash Memory market is segmented into Type and Application. By type, 3D NAND is dominating the market and is expected to witness high growth over the forecast period. 3D NAND offers higher storage capacity compared to 2D NAND and has better performance. Increased demand for storage in smartphones and tablets has accelerated the adoption of 3D NAND.

Key Takeaways

The global NAND Flash Memory market is expected to witness high growth, exhibiting a CAGR of 5.6% over the forecast period, due to increasing adoption of high-density storage solutions in consumer electronics. The Asia Pacific region is expected to dominate the market, growing at a CAGR of 6.3% during the forecast period. This is attributed to high concentration of consumer electronics manufacturers and the presence of large semiconductor industries in countries like China, South Korea and Taiwan.

The global NAND flash memory market size was valued at US$ 70.25 Bn in 2023.

Regional analysis

The Asia Pacific region is dominating the market, accounting for over 45% of the global market share in 2023. Growing demand for smartphones, SSDs and tablets from large economies like China and India is driving the growth of the market in the region.

Key players

Key players operating in the Nand flash memory market are KIOXIA Corporation, Cypress Semiconductor Corporation (Infineon Technologies), SK Hynix Inc., SanDisk Corp. (Western Digital Technologies Inc.), Powerchip Technology Corporation, Samsung Electronics Co. Ltd., Intel Corporation, Yangtze Memory Technologies and Micron Technology Inc. Samsung captured the largest market share of over 20% in 2023 owing to its robust portfolio of flash memory products and strong distribution network across the globe.

Read More

https://www.dailyprbulletin.com/nand-flash-memory-market-size-share-growth-outlook-2023/

Comments

Post a Comment

Popular posts from this blog

Uninterruptible Power Supply Market Poised for Significant Growth Accelerated by Adoption of Renewable Energy Sources

Image
  Uninterruptible Power Supply Market  An uninterruptible power supply (UPS) is a power supply system designed to provide emergency power to a load when the input power source fails. UPS systems provide transient voltage protection from power surges and spikes and consistent power even under brownout conditions. They are most commonly used in data centers, telecommunication systems, medical equipment, industrial processes that require continuous operation, and other critical applications where power disruptions cannot be tolerated. The global uninterruptible power supply market is estimated to be valued at US$ 9.95 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.   Market Dynamics: The uninterruptible power supply market is expected to witness significant growth over the forecast period. This is mainly attributed to the rising focus on improving power re...
Read more

Yacht Charter Market is Estimated to Witness High Growth Owing to Opportunity of Increasing Recreational Boating

Image
  Yacht Charter Market Yacht charter is the business of renting or leasing yachts and sailing boats for pleasure and touring. Yachts are primarily used for entertainment of guests, luxury experience, and recreational enjoyment. Large yachts come equipped with various amenities such as ocean-view staterooms, gourmet galley kitchens, lavish lounges and sundecks. Some of the popular uses include dinners, parties, family trips, weekend getaways, and corporate events. The global yacht charter market is estimated to be valued at US$ 68809.83 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.   Market Dynamics: The global yacht charter market is witnessing high growth owing to the rising popularity of luxury yachts among high-net-worth individuals as a preferred leisure activity. Yacht charters allow individuals to experience the luxury lifestyle without the steep cos...
Read more

The Global Switchgear Market Growth Accelerated By Increased Demand For Switchgear From Renewable Energy Sector

Image
Switchgear Market   Switchgear equipment are devices consisting of circuit breakers, fuses or any other associated equipment used for operating, isolating, protecting and managing electricity distribution in an electrical power system. These equipment are used in transmission and distribution systems to control the flow of power and limit electrical currents. They protect circuits and equipment in the system by limiting electrical currents to safe levels in the event of a short circuit or any sudden overloading. The growing demand for ensured power supply across manufacturing industries and commercial spaces has been driving increased adoption of switchgear.   The global switchgear market is estimated to be valued at US$ 127.13 Mn in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.   Market Dynamics: One of the key drivers for the growth of the switchgear...
Read more