NAND flash memory is a type of non-volatile storage technology which allows users to persistently store data on flash memory chips. It is commonly used in storage devices like USB drives, memory cards, and solid-state drives (SSDs). NAND flash offers advantages such as high storage capacity, low power consumption, shock resistance and faster read/write speeds as compared to traditional hard disk drives (HDDs). The growing demand for data storage across notebooks, smartphones, servers and data centers has fueled the need for high-capacity, durable and efficient storage solutions like NAND flash memory.
The global NAND flash memory Market is estimated to be valued at US$ 80.93 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The increasing adoption of SSDs over HDDs for data storage presents a key opportunity for the growth of the NAND flash memory market. SSDs offer superior performance and reliability over HDDs which has led to their rising demand from data centers, enterprises and consumers. As SSD adoption increases exponentially to cater to surging data storage needs, it will drive volume demand for NAND flash chips used in manufacturing SSDs. The opportunity for high-density 3D NAND flash memory is also expected to rise as chipmakers focus on developing newer generations of 3D flash with increased layers of storage cells to meet skyrocketing storage capacity requirements.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as setting up a semiconductor fabrication plant requires huge capital investments which deter new players. However, some new players are able to enter this market by cooperation with existing players or by acquiring smaller companies.
Bargaining power of buyers: The bargaining power of buyers is moderate to high as NAND flash memory is used in a variety of applications like smartphones, SSDs, USB flash drives etc. Buyers can negotiate on price and demand better quality products.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate as raw materials required for manufacturing NAND chips are standardized. Established players have diversified supplier bases to reduce dependency on any single supplier.
Threat of new substitutes: The threat of new substitutes is low as no direct substitute of NAND flash memory with similar performance and cost exists currently.
Competitive rivalry: The competitive rivalry is high due to presence of global players. Players compete on pricing, performance, and new product development.
SWOT Analysis
Strength: High scalability, non-volatility, and durability of NAND flash memory makes it ideal for data storage. The market is dominated by few large players enjoying economies of scale.
Weakness: Declining average selling prices exert pressure on margins. Heavy R&D investments are required to stay ahead of the technology curve.
Opportunity: Growing demand for high-capacity storage solutions from smartphones and cloud services offer opportunities for capacity expansion. Emerging applications in automotive and IoT also present new avenues.
Threats: Trade conflicts and geopolitical issues can disrupt supply chains. Declining bitcost trend may not continue indefinitely due to technical challenges in node shrinks.
Key Takeaways
The Global NAND Flash Memory Market Demand is expected to witness high growth over the forecast period of 2024 to 2031, growing at an estimated CAGR of 8.7% to reach a size of over US$ 80.93 billion by 2024.
Asia Pacific currently dominates the market with China being the largest producer due to presence of semiconductor foundries of global players. Europe and North America are other major regions in this market. China, South Korea and Taiwan are major hubs for memory chip production. Japanese firms like Toshiba Memory and Kioxia are also prominent.
Key players operating in the NAND flash memory market are Valeo SA, ZF TRW, Carwood Group, Robert Bosch GmbH, Meritor Inc., Monark Automotive GmbH, Budweg Caliper A/S, Genuine Parts Company, ATC Drivetrain Inc., Maval Manufacturing Inc., Teamec BVBA, Motorcar Parts of America, Inc., and Jasper Engines and Transmissions. The market is moving towards consolidation with mergers and acquisitions among mid-sized players. Large players are focusing on higher density nodes to drive down costs per bit.
For more details on the report, Read- https://www.ukwebwire.com/nand-flash-memory-market-growth-market-size-share-analysis/
Get more insights on this topic: https://whotimes.com/beyond-borders-exploring-the-allure-and-impact-of-mice-events-across-the-united-states/
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