Memory Chips Market: Introduction
- Memory chips are integrated circuits made of capacitors and transistors. These chips can store data or are used to process code. Memory chips hold the memory temporarily through RAM or ROM. However, the ROM consists of permanently stored data, which cannot be modified.
- Memory chips are available in different sizes as well as shapes and also can be connected directly. This enables the adoption of memory chips in a wide range of applications. Furthermore, memory chips are utilized in computers and electronic devices in which storage plays a key role.
Expansion of consumer electronics industry fueling the market
- Demand for consumer electronics such as smartphones, PCs, and tablets is considerably high in developing regions due to increasing technological innovations as well as increasing buying power. Increase in the sales of smartphones is due to availability of multi-platform services for applications such as video, music, as well as financial transaction. Furthermore, the ease of accessibility to internet is further boosting the market.
- Availability of different sizes in memory chips enhances their use in compact devices. Hence, these factors are fueling the memory chips market. However, easy corruption of memory chips is estimated to hamper the market.
Rise in adoption of smart devices
- Technological advancements in consumer electronics have been increasing for the last decade, which is increasing the rate of adoption of smart devices. These devices include fitness trackers, smart watches, and wireless headsets. In these devices, memory chips play a crucial role. Additionally, smart devices track, monitor, and store data, which is fueling the demand for memory chips. These factors are driving the memory chips market.
Market in Asia Pacific to expand significantly
- In terms of region, the global memory chips market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- The memory chips market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period
- This expansion is attributed to a wide range of applications, growing technological advancements, rising penetration of smartphones in developing economies such as India and China, and expansion of the consumer electronics industry in the region. Thus, these factors are expected to increase the demand for memory chips products.
- The memory chips market in North America and Europe is expected to expand at a considerable growth rate due to increasing competition among key players in these regions. The market in Middle East & Africa is likely to expand at a steady growth rate due to a lack of presence of major players in the region.
Key Players Operating in Global Market
The global memory chips market is highly fragmented as large number of manufacturers are present. Prominent players operating in the global market are focusing on product launch and technological developments to meet the growing demand.
Key players operating in the global memory chips market include:
- Samsung Group
- Sony Corporation
- ADATA Technology
- SK Hynix
- Micron Technology
- Kingston Technology
Global Memory Chips Market: Research Scope
Global Memory Chips Market, by Type
- Dynamic random access memory (DRAM) chips
- Static random access memory (SRAM) chips
- First in, first out (FIFO) memory chips
- Erasable programmable read only memory (EPROM)
- Programmable read only memory (PROM) memory
Global Memory Chips Market, by Application
Global Memory Chips Market, by End-use Industry
- Consumer Electronics
- IT and Telecom
- Aerospace and Defense
Global Memory Chips Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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