3D NAND Flash Memory Market Expected to Reach $78.42 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “3D NAND flash memory Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the 3D NAND flash memory market size was valued at $12.38 billion in 2020, and is projected to reach at $78.42 billion by 2030, growing at a CAGR of 20.3% from 2021 to 2030.

3D NAND is an enhanced flash storage solution that stacks memory cells vertically in multiple players to achieve more density than standard or 2D NAND memory storage solution. Moreover, the 3D NAND solution can be utilized across traditional NAND and offers several benefits over disc and tape storage. Further, silicon power 3D NAND SD card is a denser and faster memory storage solution compared to traditional NAND technology; but high manufacturing with complex installation has extended the transition from older NAND technology. In addition, 3D NAND decreases cell-to-cell interference, resulting in increased dependability and SSD longevity.

The growth of the global 3D NAND flash memory market is majorly driven by rise in space constraints on the semiconductor wafer paired with high performance & low latency of 3D NAND flash memory. Moreover, increase in demand for data centers is anticipated to drive the growth of 3D NAND flash memory. However, precision required at the time of manufacturing and high manufacturing cost limit the growth of the global 3D NAND flash memory market. On the contrary, rise in penetrations of Internet of Things application is anticipated to provide lucrative opportunities for the 3D NAND flash memory industry during the forecast period.

According to 3D NAND flash memory market analysis, the triple level cell segment was the highest contributor to the market in 2020. The laptop & PC and smartphone & tablet segments collectively accounted for around 81.8% market share in 2020. Surge in adoption of high-speed storage solution in consumer electronics applications led the growth of the laptop & PC and smartphone & tablet segment; thereby, enhancing the 3D NAND flash memory market growth.

COVID-19 Impact Analysis

The outbreak of COVID-19 has significantly impacted the growth of the 3D NAND flash memory market. Rise in demand for 3D NAND flash storage-based applications has significantly impacted the demand for 3D NAND flash memory solutions during the pandemic. However, lack of availability of a professional workforce due to partial and complete lockdown implemented by governments across the globe has restrained the growth of the market during the pandemic. On the contrast, rise in demand for VR and digital application-based gaming solution has led to the growth of 3D NAND solutions. This is expected to drive the growth of the 3D NAND flash memory market post pandemic.

Segment Overview

The 3D NAND flash memory market is segmented on the basis of type, application, end user, and region. The type segment includes single-level cell, multi-level cell, and triple-level cell. By application, the market is classified into camera, laptops & PCs, smartphones & tablets. By end user, it is categorized into automotive, consumer electronics, enterprise, healthcare, and others. Region-wise, Asia-Pacific holds a significant share in the global market, owing to the presence of prime players in this region. Further, China holds a dominating position in 3D NAND flash memory market, owing to rise in investment by prime players and government agencies to develop next generation 3D NAND flash memory solution. The adoption of high-end gaming solution across residential sectors is expected to propel the growth of the 3D NAND flash memory industry in this region.

Key Findings of the Study

• By type, the triple-level cell segment accounted for maximum revenue in 2020, and is projected to grow at a notable CAGR of 21.1% during the 3D NAND flash memory market forecast period.
• By product type, the laptop & PC and smartphone & tablet segments together accounted for around 81.8% of the 3D NAND flash memory market share in 2020.
• By end user, the healthcare segment is projected to growth at a CAGR of 21.2% during the forecast period.
• By region, Asia-Pacific contributed for the major share in the market, accounting for more than 45.8% share in 2020.

The key players profiled in the report include 3D NAND flash memory market players, such as Samsung Electronics Co., Ltd., Toshiba Corporation, SK Hynix Semiconductor, Inc., Micron Technology, Inc., Intel Corporation, Apple Inc., Lenovo Group Ltd., Advanced Micro Devices, STMicroelectronics, and SanDisk Corporation. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the market.