(MENAFN- P&S Market Research Reports) One of the important technologies that have emerged over the past few is that of artificial intelligence (AI). The technology is being utilized in various industries for making processes and operations simpler. Just like other industry, AI is also being widely utilized in the automotive industry for making vehicles safer and more secure. The technology is being utilized in infotainment systems that are now serving as personal assistants, aiding the driver by offering efficient navigational support, and responding to voice commands. This increasing utilization of AI is creating wide data storage capacity.
Autonomous and connected cars are generating large amounts of data, since they are extensively making use of electronic functions for providing greater efficiency, greater safety, driver assist capabilities, richer telemetric and entertainment functions, and communication between local networks and vehicles. Owing to these factors, the global memory market for autonomous and connected vehicles generated a revenue of $4,310.8 million in 2019, and is predicted to advance at a 23.9% CAGR during the forecast period (2020–2030), as per a report by P&S Intelligence. The major applications of memory market in the automotive industry are telematics, navigation, and infotainment.
Different types of memories in the automotive industry are NOT-AND (NAND) flash, dynamic random-access memory (DRAM), and static random-access memory (SRAM). Among all these, the demand for DRAM has been the highest up till now, owing to their effective storage of data and relatively low cost. Both commercial and passenger vehicles generate data, thereby creating need for memory; however, the largest demand for memory was created by passenger cars in the past. This is because of the fact that passenger vehicles are produced more than commercial vehicles. Furthermore, new technologies are first implemented in passenger vehicles for testing purposes in the automotive industry.
Hence, the demand for memory in autonomous and connected vehicles is growing due to the increasing demand for safety features in vehicles.
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