Rising Demand for Feasible Memory Chips to Boost Adoption of Next Generation Memory Technologies

The global market for next generation memory technologies was considerably concentrated in the last couple of years due to the dominance of a few leading companies. Samsung electronics Co., Fujitsu Ltd., Micron Technology Inc, Everspin Technologies Inc, SK Hynix Inc, Crocus Technology SA, Avalanche Technology, Ramtron International Co., Cypress Semiconductor Co., and STMicroelectronics N.V. are the leading companies operating in the global next generation memory technologies market. Currently, the level of competition in the market is of medium intensity but it is anticipated to heat up over the next couple of years owing to the increase in innovation and advanced product launches. For instance, three companies launched their personal designs such as Fujitsu introduced FeRAM, Everspin introduced MRAM and Micron introduced PCM.

Market for Mobile Phone Storage to be challenged by Cache Memory and Enterprise Storage

Based on application, the global next generation memory technologies market is segmented into mobile phones, cache memory and enterprise storage, industrial and automotive, mass storage, and embedded MCU and smart card. However, the market is anticipated to witness a paradigm shift altogether in the applications segment with cache memory and enterprise storage taking over the foremost spot of mobile phones by the end of 2019 with a share of 29% in the same year. Mass storage and industrial and automotive segments are also likely to arise as potential markets for vendors of next generation memory technologies to capitalize on. The demand for cache memory and enterprise devices is projected to rise in the near future owing to the extraordinary performance and dependability they display and mounting number of read/write memory technologies.

Volatility in Profit Margins to Encourage Usage of Advanced Memory Technologies

Companies operating in the market are being impelled to bring together memory devices that are viable in nature so that they can have high profit margins. This situation is the result of the high price instability of the current memory devices. However, manufacturers can gain from the rising demand for universal solutions for memory devices.
The global next generation memory technologies market is expected to exhibit promising growth over the coming years. The market is projected to rise to a valuation of US$2,837.0 mn by the end of 2019.