The electrification of vehicles will drive the adoption of NAND in the global automotive memory market.
Arizton’s recent market research report on the global automotive memory market identifies Micron Technology, Cypress Semiconductor, Samsung, and Integrated Silicon Solution as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation byproduct (DRAM, NAND, NOR, and others), by application (infotainment & connectivity, instrument cluster, powertrain, ADAS, and others), by vehicle type (passenger cars and commercial vehicles), and by geography (APAC, Europe, North America, Latin America, and MEA).
The global automotive memory market expected to reach values of approximately $11 billion by 2024, growing at an impressive CAGR of around 24% during 2018-2024.
The global automotive memory market is divided into four major segments that include product, application, vehicle, and geography.
NAND segment to grow the fastest CAGR in the global automotive memory market during the forecast period
The global automotive memory market by product is segmented into DRAM, NAND, NOR, and others. NAND is the fastest growing product segment in the global market, at a CAGR of around 24% during the forecast period. The rapid advancements in ADAS, automotive infotainment system, and autonomous vehicle platform is fueling the demand for onboard storage and propelling the growth of this segment in the global market. The electrification of vehicles and exponential use of electrical components will drive the adoption of NAND and drive the global automotive memory market. NAND based storage has proved to be more reliable and efficient in handling rich media. The introduction of stringent quality standards is propelling manufacturers to invest more in R&D and development more efficient memory systems in the global market. The development of 3D NAND will help OEMs meet the stringent requirements of next-generation vehicles in the market. The increasing penetration of 3D NAND flash memory would lead to the availability of reliable and cost-effective storage solutions in the global automotive memory market over the next few years.
Infotainment and connectivity segment to grow at a significant CAGR in the global automotive memory market during the forecast period
The application segment in the global automotive memory market is classified into infotainment & connectivity, instrument cluster, powertrain, ADAS, and others. Infotainment and connectivity segment dominated the total market share in 2018, growing at a CAGR of more than 23% during the forecast period. The growing demand for in-vehicle entertainment and automotive telematics services is contributing to the growth of this segment in the global market. Automotive infotainment leverage memories operate optimally, and these devices read and write a massive amount of data into memory devices in the global automotive memory market. These devices offer reliability and error-free functioning, and it is a primary requirement as any malfunction would lead to major component failures in the market. The increasing adoption of infotainment systems will boost the sales of HDD, NOR, e.MMC, UFS, and SSD memories in the market during the forecast period. The use of sensors and inbuilt wireless networks will help OEMs to monitor the condition of the vehicle and offer a pre-maintenance warning before total failure of components in the market. The development of these intelligent systems will contribute to the revenues in the global automotive memory market.
APAC to grow at an impressive CAGR in the global automotive memory market during the forecast period
The global automotive memory market by geography is categorized into APAC, Europe, North America, Latin America, and MEA. APAC occupied more than 1/3rd of the total market share in 2018, growing at a CAGR of around 23% during the forecast period. The increasing penetration of telematics services fueled by the adoption of embedded and smartphone-based devices is attributing to the growth of the APAC region in the global market. The rising number of connectivity solutions will boost the demand for NAND, LPDRAM, MCPs, and EEPROM devices in the APAC region. APAC offers huge potential for automotive semiconductor vendors and will result in the growth of global automotive memory market. The establishment of stringent safety and emission norms are driving the electrification of components and adoption of automotive electronics across the APAC region and will positively impact the global automotive memory market.
The other prominent players in the global automotive memory market are Toshiba Corporation, Nanya Technology, SK HYNIX, Western Digital, Seagate Technology, Intel, STMicroelectronics, Texas Instruments, NXP Semiconductors, Qualcomm Technologies, Renesas Electronics, Macronix International, Dialog Semiconductor, Winbond, MediaTek, ATP Electronics, Microchip Technology, GigaDevice, Taiwan Semiconductor Manufacturing Company, Swissbit, Everspin Technologies, GSI Technology, Nantero, Tower Semiconductor, and Integrated Device Technology.
The complete overview of the latest market research report on the global automotive memory market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
Arizton – Advisory and Intelligence is an innovative and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
+1 302 469 0707
Apr 15, 2021
Incorporation of IoT is Significantly Developing the U.S. HVAC Services Market
In 2020, Carrier announced increasing R&D spending to USD 50 million in order to drive sustained...
Apr 15, 2021
Is Online Distribution Channel Dominating the BGM Consumables Market?
The online segment is dominating the BGM consumables market share by distribution channels....
Apr 10, 2021
Is Cloud-Based Application Witnessing High Demand in the Global LIMS Market?
The cloud-based segment occupied over 44% of the global LIMS market share in 2020....