Memory Market Set for Robust Growth, Doubling to US$ 480.88 Billion by 2034

Continuous Developments in Memory Density through 3D NAND Technology and Processing Nodes Driving Global Market Growth: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, February 13, 2025 /EINPresswire.com/ -- As per this recent study by Fact.MR, a market research and competitive intelligence provider, the global memory market is analyzed to reach a size of US$ 245.59 billion in 2024 and is further projected to touch US$ 480.88 billion by 2034.

Lower processor node counts and improved 3-D NAND technologies are increasing memory density and performance while reducing costs. While continuing to drive the market expansion, these advancements are producing high-capacity memory solutions that are becoming more accessible and inexpensive across a range of industries.

Devices using edge computing reduce latency and bandwidth use by processing data locally. Due to the fact that real-time operations in these systems rely on fast data storage and retrieval, this pattern shift is increasing the need for high-speed and energy-efficient memory solutions.

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Expanding semiconductor sector, significant investments in cloud computing, and a strong focus on technical advancements are analyzed to drive the market expansion in North American region throughout the assessment period. Presence of several well-established data center providers and IT giants is another factor contributing to the high demand for memory solutions.

Key Takeaways from Market Study

The global market for memory is forecasted to expand at a notable CAGR of 7% between 2024 and 2034.North America is approximated to account for 37.5% of the worldwide market share in 2024.

By type, the demand for dynamic random access memory (DRAM) is evaluated to increase at 7.6% CAGR through 2034.The market in East Asia is forecasted to achieve a valuation of US$ 115.89 billion by 2034.

The market in Japan is analyzed to touch a value of US$ 18.77 billion by 2034-end.In the East Asia market, China is projected to hold a leading position with a 73.9% market share in 2024.

“Prominent memory solution providers are investing heavily in R&D projects to innovate and develop next-generation memory technologies, including faster DRAM, 3D NAND flash, and storage-class memory,” says a Fact.MR analyst.

Growing Preference for Dynamic Random Access Memory (DRAM) than Other Types

Since dynamic random access memory (DRAM) is widely employed in different electronic devices that require efficient and fast data access, its demand is higher than that of other types. DRAM is utilized in devices, such as computers, smartphones, game consoles, and data centers where extreme memory capacity and fast performance are essential.

For these devices, its scalability, cost, and ability to provide fast read and write rates make it an ideal choice. Another factor driving the DRAM segment's growth in the global market is the growing demand for memory in high-performance computing, artificial intelligence, and big data analytics.

The competitive landscape is completely changing due to competition from other solutions like supply chain management

Memory systems are facing challenges from new storage and memory options including storage-class memory (SCM) and improved computational architectures. SCM is increasingly the best option for real-time data processing applications because it combines the durability and performance of volatile DRAM with the non-volatility of NAND. Advanced computer architectures are reducing dependence on traditional memory technologies by enhancing data retrieval and storage.

These advancements are completely altering the competitive environment, which may lead to challenges to the market share that traditional memory solutions have gained as a result of the industry's growing acceptance of superior and adaptable alternatives.

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Country-specific Perspectives

Because of the semiconductor sector, significant investments in cloud computing, and a strong focus on technical advancements, the North American area is expected to have a 37.5% global memory market share in 2024. Furthermore, the presence of major data center providers and IT behemoths contributes to the high demand for memory solutions.

The forecast for the memory market in the US is favorable, since demand is high in a number of significant sectors, such as consumer electronics, data centers, cloud computing, and artificial intelligence. The United States is becoming a major market for technological innovation thanks to a number of top semiconductor manufacturers, including Western Digital, Micron Technology, and others.

High-performance computing (HPC), 5G networks, and the expanding use of AI applications are driving up demand for efficient memory solutions like DRAM and NAND flash.

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