The semiconductor memory market is characterized by the types of memories including Read Only Memory (ROM) and Random-Access Memory (RAM). ROM includes EEPROM, EPROM, Flash Memory, and PROM. RAM comprises SRAM, SDRAM, MRAM, and DRAM. The demand for DRAM is projected to grow rapidly due to the ability of these components to refresh and delete the data while running the program. These are also cheaper than SRAM and have a higher storage capacity. The demand for PCRAM is expected to grow over the forecast timespan due to their improved features and reduced power consumption.
Semiconductor Memory Market size is expected to grow due to technological advancements and evolution of smartphones coupled with the increasing acceptance of smart devices. The rise in the adoption of Solid State Drive (SSD) and fast emerging mobile computing is expected to drive the industry growth. Additionally, growing demands of semiconductors in the electronics industry are predicted to influence the market growth positively in the coming future.
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Growing adoption of IoT and smart homes is expected to propel the semiconductor memory market growth. These components are widely used for M2M communication and automation and can tackle the vast amount of data that is generated. Growing number of smart cities globally will increase the demand for smart devices, propelling the industry growth. Furthermore, the demand for high-capacity memory and low-power devices is increasing at a high rate over the last few years as the new portable devices with high processing power, high performance, and reduced size are introduced, boosting the semiconductor memory market growth.
These components operate on low voltage and have high compatibility with standard Complementary Metal-Oxide-Semiconductor (CMOS) technology along with solid endurance. These have several applications such as flash memory cards, USB storage drives, and solid-state drives in laptops, in addition to the data and code storage for cell phones, MP3 players, and Personal Digital Assistant (PDA). This is expected to propel the semiconductor memory market growth over the next six years.
The high cost of manufacturing is expected to hinder the semiconductor memory market growth. Soaring prices and a limited supply of vital components are compelling the manufacturers of computers and other electronic equipment to increase the prices of products. The industry is also facing delays due to the slowing of assembly lines of the products that require large memories. This is expected to restrain the industry growth.
High manufacturing cost and the rapid technological advances in the electronics field are also considered to be the challenges to the semiconductor memory market. Additionally, increasing costs related to existing fabrication plants and new plant constructions have made high R&D investments amongst market players that might hinder market growth over the forecast period. However, to overcome these challenges, manufacturers are expected to implement operational development programs for product lines that can hit targets for ROI. Additionally, to reduce the overall net expenditure, companies in the semiconductor memory market are stressing on outsourcing a big part of the chip production to dedicated manufacturing firms.
Increasing adoption of wearable devices is increasing the usage of enterprise storage, mass storage, and MCU smart cards, providing viable growth opportunities to the semiconductor memory market. The companies are increasingly investing in developing highly efficient components for wearable devices. For instance, in October 2016, Fujitsu Semiconductor Ltd. announced the launch of 4 Mbit MB85AS4MT, jointly developed by Panasonic Semiconductor Solutions Co., Ltd. The company expects that these components will be used for battery-operated wearable devices such as hearing aids.
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The U.S. semiconductor memory market is projected to grow significantly owing to the high adoption of these devices in connected devices and smart homes. The country is witnessing a large-scale adoption of technologically-advanced and intelligent devices. These components are widely used by several industry verticals such as retail, travel & tourism, manufacturing, and automobile, owing to large-scale data generation. Furthermore, the presence of large technology corporations in the country is expected to bode well for the industry growth.
The China semiconductor memory market is anticipated to grow over the forecast period due to the increasing usage and adoption of portable electronic devices such as smartphones and tablets. Rising industrial applications, technology adoption for various industrial operations, and economic developments in the country are projected to positively impact the demand for these products.
The key players in the semiconductor memory market include Intel, Toshiba, Samsung, SanDisk Corporation, IBM, Atmel Corporation, Crocus Technology, Fujitsu, Micron Technology, Inc., Cypress Semiconductor, SMIC, while other major players are NXP Semiconductors, Infineon, Hynix, Taiwan Semiconductor Manufacturing Company, Texas Instruments, NEC Electronics, Renesas, Global Foundries, Everspin Technology, and Chartered Semiconductor Manufacturing. Various players in the semiconductor memory market have been trying to increase their customer bases via mergers & acquisitions and strategic expansions. With the help of continuous innovations and R&D efforts, companies have developed the finest quality and high-value products with the best cost for the price-sensitive industry. These efforts by the major companies are expected to have a positive impact on the semiconductor memory market.
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