NAND Flash Memory Market - Forecasts from 2022 to 2027

For large-capacity solid-state memory applications, NAND-flash memory is a non-linear internal macro-cell mode memory with excellent performance and low cost. It has a large storage capacity and a quick rewrite speed, making it ideal for storing massive amounts of information. This technology provides a cost-effective alternative for applications that require high-density solid-state storage. The market for non-volatile Flash is dominated by NAND flash design combined with NOR Flash construction. As a result, NAND Flash's many features, such as low power, scalable design, cost-effectiveness, and high density, make it an ideal option to meet the demand for new multimedia products entering the international market. Furthermore, modern memory systems migrate to NAND flash to take advantage of various benefits, including lower cost and increased density for high-performance applications. It has also recently been developed and marketed for a variety of memory applications, including mobile phones, solid-state drives, MP3/PMP players, flash memory cards, and USB flash drives.

The increase in the number of PCs, smartphones, and other electronic devices is a major factor driving the growth of the NAND flash market.

The growth of PCs and smartphones has resulted in a substantial increase in NAND flash consumption, which can be attributed to the increase in average capacity in smartphones. This is expected to boost the market for NAND flash packaging, which will impact memory packaging demand. For instance, as per Ericsson, there are already over six billion smartphone users worldwide, with several hundred million more expected in the next years. The countries with the most smartphone users are India, China, and the United States. By 2026, the number of smartphone users is predicted to increase to 7516 million. Gesture control, fingerprint scanners, and GPS are among the technologies manufacturers include in their products. This is driving up the demand for NAND flash memory, used in smartphones as a code storage medium. With 5G wireless connectivity on the way, smartphone usage is expected to surge, necessitating the continual development of new models.

Other consumer goods such as tablets, cameras, automotive systems, industrial equipment, sensors, and medical appliances depend on flash memory, which is constructed into the CPUs and stores data and code. The trend toward flash-based storage will continue to increase as the need for massive data processing for artificial intelligence, and machine learning applications grows. The new Microsoft Windows 11 operating system, introduced in October 2021, will assist promote NAND sales since new microprocessors for Windows 11 PCs will be needed to have greater memory, propelling the growth of the NAND flash memory market.

The increasing innovation in the market is also expected to grow the demand for NAND flash memory during the forecast period. For example, Micron released the world's first 176-layer NAND Universal Flash Storage (UFS) 3.1 mobile solution in July 2021. With up to 75 percent faster sequential write and random read performance than previous generations, Micron's discrete UFS 3.1 mobile NAND, intended for high-end and flagship phones, unlocks 5G's potential, permitting downloads of two-hour 4K movies in as short as 9.6 seconds. Similarly, in August 2019, Samsung unveiled its sixth-generation V-NAND memory, with over 100 active layers to increase capacity and density.

By region, the Asia Pacific is expected to hold a notable share in the NAND flash memory market during the forecast period.

Asia Pacific is expected to have a significant share in the NAND flash memory market. Almost all end-user applications in the region are in high demand, driven by the need for smartphones in several developing countries in the region, such as China, India, and Indonesia. For instance, consumer electronics and appliance sales climbed by 23.5 percent in India in the third quarter of FY21 compared to the same period the previous fiscal year, according to the Retailers Association of India (RAI). Furthermore, semiconductor fabrication facilities in countries like China, Korea, and Singapore are flourishing. Several global memory makers have invested a significant amount of resources in the Chinese market, aided by government initiatives such as Made in China 2025. The country's ambitious objectives for the forecast period include attaining USD 305 billion in semiconductor output by 2030 and achieving at least 80% of local semiconductor demand, which is intended to encourage more investment. As a result of these developments in numerous nations, regional competitors are stepping up their expansion attempts. For example, in February 2019, SK Hynix, one of the world's leading memory-chip manufacturers, announced plans to invest a massive USD 106 billion in South Korea, principally to build four new semiconductor fabrication units.

COVID-19 Insights

The pandemic has not severely influenced the market for NAND flash memory. This is due to the increase in the smartphone market, 5G adoption, and the introduction of SSD-based next-generation consoles. The outbreak did not significantly impact the production of China-based NAND flash suppliers. This is because the plants are highly automated and have low workforce requirements. Because semiconductor fabrication factories had national special licenses, foundry production was provided to clients in China. These enable them to export their wares throughout China, including in quarantined cities.

Market Segmentation:

By Type

• Single Level Cell (SLC)
• Multi-Level Cell (MLC)
• Triple Level Cell (TLC)

By Structure

• 2D Structure
• 3D Structure

By Application

• Smartphone
• SSD
• Memory Card
• Tablet
• Other Applications

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• Israel
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Thailand
• South Korea
• Taiwan
• Indonesia
• Others