According to a recent report published by Allied Market Research, titled,"3D NAND Flash Memory Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017 - 2025,"the global 3D NAND flash memory market was valued at $9,056.2 million in 2017 and is projected to reach $99,769.0 million by 2025, growing at a CAGR of 35.3% from 2018 to 2025.
The increase in demand for data storage across consumer electronics and enterprise storage sectors fuel the growth of the global 3D NAND flash memory market. Moreover, the growth in requirement of small-form factor has increased the scope for R&D for such memory devices. Technological advancements by the emerging economies boost the memory market growth. The ambitious project of 100 smart cities in India is projected to increase the adoption of smarter solutions for storage, since the project is based on the concept of using sensors and wireless technology to establish a wide connectivity network, thus generating large volume of data requiring a reliable and robust storage solution. The 3D NAND has high density and capacity with compact packaging and offers improved performance, thus is a suitable choice for memory storage.
The Asia-Pacific embedded 3D NAND flash memory market is largely controlled by government policies that are encouraging sustainable manufacturing and investments in the sector. Moreover, the increase in demand for lightweight memory design and high durability has enhanced the adoption of 3D NAND flash memory systems in enterprise storage and automotive industries, thereby providing lucrative opportunities for the market growth. Furthermore, increased adoption of smart technologies in Asia-Pacific is anticipated to provide lucrative opportunities for the growth of the global market.
Key Findings of the 3D NAND Flash Memory Market:
- In 2017, the smartphone & tablets sub-segment generated the highest revenue in the global 3D NAND flash memory market.
- In 2017, the Consumer electronics segment generated the highest revenue among the other end user types in the global 3D NAND flash memory market.
The key players profiled in the report include 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. These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
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