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The NAND flash market size is estimated to grow at a CAGR of 6.51% between 2022 and 2027. The market size is forecast to increase by USD 24 billion. The growth of the market depends on several factors, including the growing investments in fabrication facilities, the market growth through edge storage, and the growing need for high-density storage to support smartphone applications.
This NAND flash market report extensively covers market segmentation by application (smartphones, SSDs, memory cards, and others), type (3D NAND and 2D NAND), technology (TLC, MLC, and SLC), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing investments in fabrication facilities are notably driving the market growth, although factors such as fluctuations in demand and supply may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the global NAND flash industry growth is the growing investments in fabrication facilities. The rising demand for 3D NAND has created an opportunity for supply chain members such as chip makers, equipment manufacturers, and material suppliers. This is driving investments in 3D NAND fabrication facilities. For instance, in October 2021, Micron Technology announced that it plans to invest more than USD 150 billion worldwide in its global manufacturing operations and research and development (R&D) outlays over the next decade to expand its fabrication capabilities.
Memory manufacturers such as Samsung Electronics, Western Digital, Micron Technology, Toshiba, SK Hynix, and Intel are investing in new fabrication facilities to increase their production capacity for staying competitive in the market. These factors will drive the growth of the market in the forecast period.
A rise in the number of strategic partnerships and acquisitions is one of the key NAND flash market trends that is expected to impact the market positively in the forecast period. For instance, in February 2020, Micron Technology partnered with seven industrial companies to deliver robust and innovative solutions. Similarly, in October 2020, SK HYNIX Inc and Intel Corp announced that they had signed an agreement under which SK HYNIX Inc would acquire Intels NAND memory and storage business for USD 9 billion.
This will result in the production of efficient and high-performance NAND flash memory compatible with advanced technologies and components integrated into smartphones, tablet PCs, and other computing devices. Therefore, a rise in the number of strategic partnerships and acquisitions will fuel the market growth during the forecast period.
One of the key challenges to the global NAND flash market growth is the fluctuations in demand and supply. The widening demand-supply gap is a major challenge faced by the global NAND flash market. One of the factors responsible for the supply-demand mismatch is the cyclical nature of the semiconductor industry in general and, thus, the market. The market depends on the demand for smartphones, data centers, servers, cloud storage devices, and other consumer electronic devices which require memory devices. Vendors try to align their production with the sales in these industries, but any unforeseen change in demand can lead to an oversupply or shortage.
The dynamic nature of the semiconductor industry, due to fluctuations in demand for consumer electronic devices, the emergence of advanced technologies, and changes in manufacturing processes, results in a supply-demand imbalance. All these factors impact the sales and prices of the products such as smartphones, data centers, servers, and cloud storage devices. It becomes difficult for manufacturers to reduce their prices without avoiding losses. Thus, uncertainty in the price of NAND flash memory modules due to the supply-demand imbalance is one of the challenges in the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global NAND Flash Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ADATA Technology Co. Ltd.: The company offers NAND flash such as 112 layer BiCS5 3D NAND solid state drives. Also, the company offers various products, including LED lighting solutions, axial flow high-speed motor, motor controllers, air-cooled motor, gaming solutions, and other products.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the smartphones segment will be significant during the forecast period. The proliferation of low-cost smartphones and rising investments in telecommunication network infrastructure are increasing the penetration of the Internet across the world.
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The smartphones segment was valued at USD 22.48 billion in 2017 and continued to grow until 2021. In April 2023, the number of global smartphone users reached 5.48 billion, according to the GSM Association (GSMA). The rising penetration of smartphones and the availability of high-speed Internet connectivity worldwide are increasing the volume of generated data significantly, including audio, video, text, and encrypted data blocks. Therefore, the demand for high-capacity memory modules is rising.
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APAC is estimated to contribute 59% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing penetration of smartphones in the region is leading to the emergence of several smartphone manufacturers. China, which is the largest smartphone market in APAC, is witnessing the increasing penetration of smartphones. The high penetration of the Internet in APAC and the focus on the development of telecommunication network infrastructure are encouraging domestic companies to launch innovative products such as NAND flash memory cards.
As a result, domestic companies in China, such as Xiaomi, are competing intensely with major smartphone companies, such as Apple. Domestic smartphone manufacturers, such as Huawei Technologies and Xiaomi, manufacture smartphones that provide almost the same specifications and memory capacity as Apple and Samsung Electronics in their smartphones. However, they offer their products at a much lower cost, which attracts price-sensitive customers in the region. To capitalize on the high growth opportunities in the smartphone market in APAC, smartphone OEMs are expanding their production capacity in the region.
The outbreak of COVID-19 in 2020 had a negative impact on the regional NAND flash market. However, in 2021, due to the availability of COVID-19 vaccines and the large-scale vaccination drives carried out by the governments of different countries in APAC, activities in end-user industries gradually returned to normal. Therefore, the demand for NAND flash memory modules increased, which will lead to the growth of the regional market during the forecast period.
The nand flash market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global NAND flash market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. It also includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
NAND Flash Market Scope |
|
Report Coverage |
Details |
Page number |
181 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.51% |
Market growth 2023-2027 |
USD 24 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.56 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 59% |
Key countries |
US, China, Japan, South Korea, and Taiwan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ADATA Technology Co. Ltd., Berkshire Hathaway Inc., Flexxon Pte Ltd., Greenliant Systems, Hyperstone GmbH, Infineon Technologies AG, Innodisk Corp., Kingston Technology Co. Inc., Kioxia Corp., Macronix International Co. Ltd., Micron Technology Inc., Renesas Electronics Corp., Samsung Electronics Co. Ltd., Semiconductor Manufacturing International Corp., Shenzhen Longsys Electronics Co. Ltd., Silicon Motion Technology Corp, SK hynix Co. Ltd., Toshiba Corp., Transcend Information Inc., and UDISYS Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Market Segmentation by Technology
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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