(MENAFN- EIN Presswire)

The NAND flash memory market is estimated to grow at a CAGR of 4.35% to reach US$91.698 billion in 2028 from US$68.062 billion in 2021.

The market growth is driven by the increasing demand for smartphones and other electronic items such as tablets, and cameras, coupled with rising disposable income and technological advancements.” - Knowledge Sourcing IntelligenceNOIDA, UTTAR PRADESH, INDIA, August 10, 2023/einpresswire.com / -- According to a new study published by Knowledge Sourcing Intelligence, the nand flash memory market is projected to grow at a CAGR of 4.35% between 2023 and 2028 to reach US$91.698 billion by 2028.

The prime factors propelling the NAND flash memory market growth are the increasing demand of smartphones, increasing demand for other electronic items such as tablets, cameras, increasing disposable income, and technological advancements.

NAND flash memory is a type of non-volatile memory technology widely used in various electronic devices for data storage. It is the predominant form of memory used in USB drives, SSDs (Solid State Drives), memory cards (like SD cards), and many other portable devices.

Various collaborations and technological advancements are driving the NAND flash memory market. For instance, In December 2021, Floadia announced its development of flash memory capable of storing 7bpc for a decade at 150°C. Floadia's innovative memory can contain more charges per cell and retain data for longer periods without power than standard flash memory.

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The NAND flash memory market is divided into single-level cells (SLC), multi-level cells (MLC), and triple-level cells (TLC) depending on the type. SLC NAND stores a single bit of data (0 or 1) in each memory cell. This type of NAND offers the best performance, endurance, and reliability among the three types. SLC NAND has faster read and write speeds compared to MLC and TLC NAND. It has the longest lifespan, as each cell endures fewer write and erase cycles before degradation. All these features are likely to accelerate the significant market growth of SLC NAND flash memory.

Based on the structure, the NAND flash memory market is segmented into 2D structure and 3D structures. 3d nand technology has revolutionized the NAND flash memory market by allowing for significant increases in storage density and overall performance. In May 2023, Neo Semiconductor introduced its groundbreaking technology, 3D X-DRAMTM. This is the world's first 3D NAND-like DRAM cell array, to solve DRAM's capacity constraint and replace the entire 2D DRAM industry.

The NAND flash memory market is segmented into smartphones, SSD, memory cards, tablets, and others based on the application. NAND flash memory plays a crucial role in the functioning of modern smartphones. These devices require fast, reliable, and non-volatile storage to store both the operating system and user data. Therefore, the increasing usage of smartphones is expected to drive the segment's growth during the forecast period. For instance, according to Oberlo, a Shopify affiliate and dropshipping solution provider, there were 6.8 billion smartphone users globally in February 2023, with mobile internet traffic accounting for 54.8% of total web traffic.

According to geographical segmentation, Asia Pacific is projected to hold a sizable share of the NAND flash memory market during the forecast period due to the growing semiconductor production, and booming consumer electronics industry particularly smartphones. For instance, the GSM Association's "Mobile Economy Outlook 2023" study predicts that China's mobile phone user base would reach 1.33 billion in 2023, indicating a 3.1% growth over 2022.

The research includes coverage of Samsung Electronics Co. Ltd, Micron Technology Inc., SK Hynix Inc., SanDisk Corp. (Western Digital Technologies, Inc.), Powerchip Technology Corporation, Cypress Semiconductor Corporation, GigaDevice Semiconductor, Winbond Electronics Corporation, and ATP Electronics Inc. as significant players in the NAND flash memory market.

The market report segments the NAND flash memory market on the following basis:

.By Type

oSingle Level Cell (SLC)
oMulti-Level Cell (MLC)
oTriple Level Cell (TLC)

.By Structure

o2D Structure
o3D Structure

.By Application

oSmartphone
oSSD
oMemory Card
oTablet
oOther Applications

.By Geography

oAmericas

.USA
.Others

oEurope Middle East and Africa

.UK
.Germany
.France
.Others

oAsia Pacific

.China
.Japan
.Taiwan
.South Korea
.Indonesia
.Vietnam
.Others

Explore More Reports:

.NOR Flash Memory Market:

.System-On-Chip Market:

.Read Only Memory (ROM) Market:

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698

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