Next Generation Memory Market - Growth, Trends, and Forecast (2019 - 2024)

SKU ID : INH- 13517595

Publishing Date : 01-May-2019

No. of pages : 120

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  • Market Overview

    The global next generation memory market was valued at USD 2.85 billion in 2018 and is expected to reach a value of USD 8.86 billion by 2024 at a CAGR of 25.12%, during the forecast period 2019-2024. The explosion in data generation has fueled the demand for improved memory and storage types at the workplace. Traditional memory systems have been struggling to keep up with the increased volume of data, bandwidth requirements in the systems and speed requisite in the current generation systems.

    - Emerging memory technologies brings the potential to foray by allowing to store more data at less cost than the expensive-to-build silicon chips used by popular consumer electronic gadgets including digital cameras, cell phones, notebooks, etc. The demand for these consumer products has been increasing which has been further driving the market with key players actively investing in innovation and research and development.
    - Memories, therefore, are a critical part of future embedded systems and the next generation memory holds great potential to resolve the bandwidth, speed and size problems. These are expected to become a market regular by 2024 and occupy a significant share in the market by the end of the forecast period.
    - Adoption of next-generation infotainment systems and ADAS would be fusing the DRAM memory technologies that would have much higher - performance and low power consumption capabilities. At present, the penetration of automated cars is moderately low, which is projected to spur in the coming years.
    - However, lack of stability under extreme environmental conditions can hamper the growth of the market due to its restraint in applications.

    Scope of the Report

    Next generation memory can be defined as a common label applied to a major upgrade of hardware or a software product. The next generation memory market has grown over the last few years because of the increasing demand for faster, efficient and cost-effective memory solutions.

    Key Market Trends

    Information Technology to Significantly Employ Next Generation Storage Technology

    - With the growing size of enterprises, many of the companies have adopted the use of enterprise storage technologies, which demand the need for next-generation storage to handle the computing power of the organizations.
    - As the number of data centers increase the amount of storage and computing power required continues to increase and owing to such trends there is a need for better memory technologies to continue to withstand the computational demands for such organizations.
    - These latest memory devices also provide a better architecture compared to the existing used technologies. Technologies, such as MRAM are expected to have a better architecture which provides efficiency for the data centers.
    - With the growing adoption for SSD memory storage technologies, the need for better memory is becoming intertwined with it.
    - The industry expectation rates vary at about 50% from 2017 to 2018 with many laptop manufacturers opting for such storage options. Quarterly shipments of the SSDs in notebooks have been found to increase from 25% to 26%. As the adoption rate grows the need for better memory technology is inevitable.
    - Many memory modules have been combining the volatile memory with the nonvolatile memory modules. The data from the flash can be transferred and restored from the DRAM.

    North America to Account for a Major Share

    - The region has experienced many investments in technology. The region also has a high adoption rate for various technologies, such as RAM, DRAM, and PCM memory.
    - This growth can be attributed to increasing mobile phones and laptops among another computing device in the region.
    - Many trends, such as BYOD in the region could also be a potential market for the company. The number of laptops within the price range of USD 500 has increased. This has increased the number of substitutes available for the population driving the growth of these devices.
    - The region is also one of the earliest and the fastest cloud adopter. By 2021 of all the data of organizations 94% is expected to be on the cloud according to Cisco. As the growth in the data center increases the adoption of next-generation memory is also set to increase,

    Competitive Landscape

    The next generation memory market is highly fragmented due to the decrease in raw materials of the market. Some key players in the market are Ooyala, Inc., Brightcove, Inc., NetSuite, Inc., Fordela Corporation, Amino Technologies PLC, DaCast LLC, Kaltura, Inc., MatrixStream Technologies, Inc., MUVI Television Limited, Minoto Video, Inc., Monetize Media, Inc., Twistage, Inc., and UpLynk LLC, among others. Some key recent developments in the market are:

    - November 2018 - HPE announced new advancements in its intelligent storage to for unlocking the potential of revenue streams and deliver impact businesses. HPE introduced advancements in its Artificial Intelligence for Operations (AIOps) platform, HPE InfoSight; expansion of HPE Cloud Volumes, a multi-cloud storage service, to the UK and Ireland; HPE Memory-Driven Flash, a new class of enterprise storage built with storage class memory (SCM) and non-volatile memory express (NVMe) to help customers accelerate to hybrid cloud adoption.

    Reasons to Purchase this report:

    - The market estimate (ME) sheet in Excel format
    - Report customization as per the client's requirements
    - 3 months of analyst support

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