The global memory chips market size is expected to grow from $72.45 billion in 2021 to $75.30 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%.The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The memory chip market is expected to reach $83.56 billion in 2026 at a CAGR of 2.6%.
What is the Global Memory Chips Market?
The memory chip market consists of revenues generated by entities (organizations, sole traders, or partnerships) that carry out design, manufacturing, and sales of memory chips. market consists of sales of memory chips. A memory chip is a semiconducting chip comprising of numerous capacitors and transistors that can hold the data temporarily through random access memory (RAM), or permanently through read only memory (ROM).
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What drives the Global Memory Chips Market?
Rising penetration of mobile, tablet and other electronics and rising data consumption will drive the memory chip market. Increase in sales of electronic devices such as smart phones and tablets leads to an increase in generation and consumption of digital content and require memory chips to store data. For example, the total number of smart phone devices across the world reached 6 billion in 2020, i.e., eight people out of 10 owned a smartphone in 2020, eventually driving the revenues of memory chip manufacturing companies. This increasing use of smart phones is expected to increase the necessity to store data, hence driving the memory chip market.
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Global Memory Chips Market Segments
The global memory chips market is segmented:
By Type: Volatile, Non Volatile
By Application: Laptop/PCs, Camera, Smartphone
By Sales Channel: OEM, Aftermarket
By Geography: The regions covered in the memory chips market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Memory Chips Global Market Report 2022 provides market size and growth forecasts for the global memory chips market, global memory chips market share, memory chips market segments and geographies, memory chips market competitive landscape including leading competitors’ revenues, profiles and market shares. The memory chips market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Memory Chips Industry Players include Samsung Group, Sony Corporation, Toshiba, SK Hynix, Micron Technology, Intel, Transcend Information, Fujitsu Microelectronics Inc., NXP, and Broadcom. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
