Global NAND Flash Memory Market to Grow at a CAGR of 11% During 2024-2032, Aided by the Increasing Number of Applications

The global market for NAND flash memory is being aided by the expanding applications of the product due to the technical ability to fully use fabrication substrates. Further, the inability of the existing solutions to meet the capacity necessary to fulfil the rising data demand, leading to the development of new technologies and products, is invigorating the market growth. NAND flash memory not only offers a higher storage capacity, but it also operates quicker and is less expensive. As a result, leading companies are turning to NAND flash memory technology to offer the required output with high speed and reliability, therefore increasing market demand. Current macro trends of AI and machine learning, mobility, and connectivity, benefit the NAND flash memory industry, which is expected to expand its share in the semiconductor industry throughout the forecast period.

Recently, some key developments have exhibited the potential to boost the market over the forecast period. For instance, samples of SK hynix's solution products based on its 128-layer 4D NAND were supplied in August 2020. These recent efforts were made by SK hynix to improve its competitiveness in the NAND solution industry. Due to the number of chips needed to make a 1 TB product has been cut in half compared to 512 GB NAND, the 1 TB product may be made with a package thickness of only 1mm, making it ideal for ultra-thin 5G handsets. This, along with the new launches by industry key players like Samsung Electronics Co. Ltd (KRX: 005930) is expected to foster the market growth over the forecast period.

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Market Analysis by Type, Structure, Application, and Region:

• By type, the market is divided into SLC (one-bit per cell), MLC (two-bit per cell), and TLC (three-bit per cell).

• Based on structure, the industry can be categorised into 2D structure and 3D structure.

• On the basis of application, the market is classified into smartphone, SSD, memory card, and tablet, among others.

• The regional markets for NAND flash memory include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The increasing number of applications of NAND flash memory is expected to drive the market.

• Development of new technologies and products is likely to propel the growth of the market over the forecast period.

• Comparative advantages of NAND flash memory over its alternatives are anticipated to have a positive impact on the progress of the industry.

• Current macro trends of AI and machine learning, mobility, and connectivity is expected to provide the industry with immense growth opportunities.

Key Offerings of the Report:

• The EMR report gives an overview of the global NAND flash memory industry for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, structures, applications, and regions of NAND flash memory.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global NAND flash memory market are Samsung Electronics Co. Ltd., Western Digital Technologies Inc., Intel Corporation, Micron Technology Inc., and Powerchip Technology Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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