Global Next Generation Memory Market 2017-2021

Overview of the global next generation memory market

Technavio’s market research analyst predicts the global next generation memory market to grow steadily at a CAGR of around 67% by 2021. One of the primary drivers for this market is the rise in the demand for FeRAM in automotive applications. FeRAM has been successfully deployed in applications such as industrial control systems, mission critical space applications, industrial automation systems, and high-reliability military applications. High reliability of FeRAM cells and high write cycles make FeRAM an ideal semiconductor memory for next-generation automotive applications. Also, the applications include high fuel efficiency, enhanced safety features, high-end automation, and controls.  In the automotive sector, FeRAMs are used for non-volatile data logging in most sub-systems such as stability control, powertrain, smart airbags, dashboard instrumentation, battery management, engine controls, and infotainment applications. These advantages of FeRAMs are expected to augment the growth in the global next generation memory market during the forecast period.

In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the next generation storage technology market for the next few years. The potential benefits of next-generation memory technologies such as faster write speed and low power consumption are propelling their usage in various electronic devices. This, in turn, will support the growth of the next generation memory market in the region. Moreover, rapid technological advances and changes in consumer preferences over the use of electronic data storage devices are contributing to the demand for consumer electronics integrated with next-generation memory technologies in the Americas.

Competitive landscape and key vendors