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3D NAND Flash Memory Market
3D NAND Flash Memory market Expected to Reach $78.42 Billion by 2030 - Allied Market Research
Rise in space constraints on the Semiconductor wafer, High performance & low latency of 3D NAND flash memory.” - Allied Market Research
WILMINGTON, DELAWARE, UNITED STATES, June 13, 2024 /EINPresswire / -- The global 3D NAND flash memory market trend is expected to witness considerable growth, owing to an increase in demand for digital entertainment solutions across residential and commercial sectors, especially in Asia-Pacific and the LAMEA region. This is expected to drive the market growth. Allied Market Research, titled,“3D NAND flash memory Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the 3D NAND flash memory market size was valued at $12.38 billion in 2020, and is projected to reach at $78.42 billion by 2030, growing at a CAGR of 20.3% from 2021 to 2030.
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3D NAND is an enhanced flash storage solution that stacks memory cells vertically in multiple players to achieve more density than standard or 2D NAND memory storage solutions. Moreover, the 3D NAND solution can be utilized across traditional NAND and offers several benefits over disc and tape storage. Further, silicon power 3D NAND SD card is a denser and faster memory storage solution compared to traditional NAND technology; but high manufacturing with complex installation has extended the transition from older NAND technology. In addition, 3D NAND decreases cell-to-cell interference, resulting in increased dependability and SSD longevity.
The growth of the global 3D NAND flash memory market is majorly driven by a rise in space constraints on the semiconductor wafer paired with high performance & low latency of 3D NAND flash memory. Moreover, an increase in demand for data centers is anticipated to drive the growth of 3D NAND flash memory. However, the precision required at the time of manufacturing and high manufacturing cost limit the growth of the global 3D NAND flash memory market. On the contrary, a rise in penetrations of Internet of Things applications is anticipated to provide lucrative opportunities for the 3D NAND flash memory industry during the forecast period.
According to 3D NAND flash memory market analysis, the triple-level cell segment was the highest contributor to the market in 2020. The laptop & PC and smartphone & tablet segments collectively accounted for around 81.8% market share in 2020. The surge in adoption of high-speed storage solutions in consumer electronics applications led to the growth of the laptop & PC and smartphone & tablet segments; thereby, enhancing the 3D NAND flash memory market growth.
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Competitive Analysis:
The 3D NAND flash memory industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players in the global 3D NAND flash memory Market include,
Samsung Electronics Co., Ltd.,
Toshiba Corporation
SK Hynix Semiconductor, Inc.
Micron Technology, Inc.,
Intel Corporation
Apple Inc.
Lenovo Group Ltd.,
Advanced Micro Devices
STMicroelectronics
SanDisk Corporation
COVID-19 Impact Analysis
The outbreak of COVID-19 has significantly impacted the growth of the 3D NAND flash memory market. The rise in demand for 3D NAND flash storage-based applications has significantly impacted the demand for 3D NAND flash memory solutions during the pandemic. However, the lack of availability of a professional workforce due to partial and complete lockdowns implemented by governments across the globe has restrained the growth of the market during the pandemic. In contrast, the rise in demand for VR and digital application-based gaming solutions has led to the growth of 3D NAND solutions. This is expected to drive the growth of the 3D NAND flash memory market post-pandemic.
Segment Overview
The 3D NAND flash memory market is segmented based on type, application, end-user, and region. The type segment includes single-level cells, multi-level cells, and triple-level cells. By application, the market is classified into cameras, laptops & PCs, smartphones & tablets. By end user, it is categorized into automotive, consumer electronics, enterprise, healthcare, and others. Region-wise, Asia-Pacific holds a significant share of the global market, owing to the presence of prime players in this region. Further, China holds a dominating position in the 3D NAND flash memory market, owing to a rise in investment by prime players and government agencies to develop next-generation 3D NAND flash memory solutions. The adoption of high-end gaming solutions across residential sectors is expected to propel the growth of the 3D NAND flash memory industry in this region.
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Key Findings of the Study
- By type, the triple-level cell segment accounted for maximum revenue in 2020 and is projected to grow at a notable CAGR of 21.1% during the 3D NAND flash memory market forecast period.
- By product type, the laptop & PC and smartphone & tablet segments together accounted for around 81.8% of the 3D NAND flash memory market share in 2020.
- By end user, the healthcare segment is projected to grow at a CAGR of 21.2% during the forecast period.
- By region, Asia-Pacific contributed for the major share in the market, accounting for more than 45.8% share in 2020.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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Allied Market Research
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