Market Overview
The global NAND flash memory market size was valued at USD 67 billion in 2021. It is expected to reach USD 117 billion by 2030, growing at a CAGR of 6.39% during the forecast period (2022–2030)
NAND flash memory is a technology that can store data without power. NAND flash development has prioritized lowering the cost per bit and raising maximum chip capacity so that flash memory can compete with magnetic storage systems like hard discs. NAND technology is used in MP3 players, digital cameras, and USB flash storage. NAND flash uses electrical circuits to store data and save information as blocks. A metal-oxide-semiconductor will give the memory cell an extra charge when the power is cut off in NAND flash memory, keeping the data.
Usually, a floating-gate transistor (FGT) is employed as a metal-oxide-semiconductor. The NAND logic gates are similar to that of FGTs structure. Control and floating gates are used to construct NAND memory cells. Both gates will aid in regulating the data flow. A voltage charge is given to the control gate to program one cell. Due to the growing popularity of PCS smartphones and the ability to work from home, NAND memory consumption surged considerably. With continuing investment and research being carried out by suppliers like Toshiba and Samsung, consumers are sure to continue to enjoy all the benefits of developments in flash memory technology in their smartphones and laptops.
Market Dynamics
Global NAND Flash Memory Market Drivers
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Growing Demand for Data Centers
The need for NAND flash is anticipated to rise in response to the growing demand for memory devices, which data centers support. The demand for high-performance computing, edge computing, big data, and cloud applications is the primary factor driving the demand for data centers. Additionally, Intel and AMD recently launched new server chips in response to the latest data center development initiatives undertaken by Google, Amazon Web Service, Facebook, and Microsoft Azure. The NAND flash server industry is predicted to be driven by similar trends.
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Expansion of 5G and IoT Devices
It is expected that 5G will make it possible to transmit enormous amounts of telecommunications data quickly, increasing the requirement for device storage. Additionally, vendors are releasing NAND Flash drives that work with 5G-capable tablets and smartphones. Cisco Systems predicts that in 2022, connected wearables used in North America and the Asia Pacific will collectively make up about 70% of all wearable 5G connections worldwide.
Devices for the internet of things (IoT) are another rising market for NAND flash memory. Industry 4.0's industrial automation uses the Internet of Things (IoT), which also encompasses wearables, aviation, healthcare, smart homes, smart metering, smart farm logistics, and other applications.
Global NAND Flash Memory Market Restraint
An essential feature of any memory device is the reliability of the stored data. Flash memory is vulnerable to a condition known as bit-flipping, in which some bits may become reversed. Compared to NOR flash, this condition occurs more frequently with NAND flash. NAND flashes are sold with bad blocks dispersed randomly throughout due to yield considerations. Therefore, NAND flash must have the capacity to handle bad blocks. In contrast, NOR flash has a little bad block. These drawbacks can restrict the growth of the NAND flash memory market.
Regional Analysis
Asia-Pacific Holds Dominion Over Others
Region-wise, the global NAND flash memory market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Asia-Pacific acquires the leading market position and is estimated to grow at a CAGR of 7.12% during the forecast period. The immense contribution from China is a significant reason for the region's dominance in the market. Numerous global memory companies are investing tremendous money in the Chinese market, supported by government initiatives like Made in China 2025. Nearly all end-user applications in the region have incredibly high demand, driven mainly by the demand for smartphones in many developing nations, including China, India, Indonesia, and others. Additionally, in the past three years, the number of SMEs and cloud service providers has increased, creating tremendous growth potential across the region.
North America holds the second-largest market share and is expected to grow at a CAGR of 5.23%. North America is one of the leading markets for consumer electronics, IoT, SSDs, and smartphones. This component is what is driving the need for NAND flash memory. SanDisk, Intel, WDC, Cypress Semiconductors, and other significant manufacturers are based in North America. The market for automobile ADAS systems is increasing, driving the demand for high-density and low-latency flash storage.
The demand for NAND flash memory solutions in Europe will be driven by the rapidly expanding data-centric applications of NAND flash memories. NAND flash memory is predicted to be used in various creative ways due to the region's fast-growing need for the IT sector. Therefore, it is projected that this tendency will propel the expansion of the NAND flash memory market during the forecast period. Additionally, the automotive industry is dominant in the European continent. The companies are investing much money in developing autonomous vehicles. These cars require a lot of data to operate. The ADAS processes the acquired data. For efficient operation, automotive companies use NAND flash memories.
Segmental Analysis
The global NAND flash memory market is segmented by type, structure, application, and region.
By Type Analysis
Based on type, the global NAND flash memory market is segmented into SLC (Single-Level Cell), MLC (Multi-Level Cell), TLC (Three-Level Cell), and QLC (Quad-Level Cell).
TLC (Three-Level Cell) owns the largest market share and is expected to grow at a CAGR of 3.61% during the forecast period. TLC flash includes solid-state drives (SSDs) for business and home use, storage cards for digital cameras and cell phones, and USB drives. Compared to SLC and MLC flash, which typically store two bits of data per cell, TLC memory offers a cheaper price per gigabyte (GB). NAND flash makers frequently use TLC with 3D NAND flash, in which the memory cells are stacked vertically on the chip.
QLC (Quad-Level Cell), which can store four bits per cell, is more prevalent in 3D NAND than in 2D NAND. However, improved controllers increase P/E rates and their construction results in lesser durability. There are 16 different voltage levels needed for QLC, which has a 3D NAND design. The transition from TLC to QLC would result in a capacity gain of one-third for the same number of cells, enabling higher density and more capacity drives. Additionally, it offers a decreased Total Cost of Ownership.
The primary purpose of the MLC (Multi-Level Cell) NAND was to improve the amount of data stored in the same silicon area on the wafer. Due to this, the cost of data storage on an MLC component has drastically decreased compared to an SLC component. MLC flash memories are frequently employed in more cost-sensitive applications, including consumer electronics or gaming systems, where performance, reliability, and durability are more essential than business applications.
By Structure Analysis
Based on structure, the global NAND flash memory market is segmented into 2D and 3D structures.
The 3D Structure holds a significant portion of the market and is expected to grow at A CAGR of 8.51% during the forecast period. The market environment has changed due to the launch of 3D NAND flash memories. The cells can now be stacked vertically, increasing storage capacity. Without causing the cells to get smaller, these additional layers of cells have significantly enhanced storage capacity. Compared to 2D NAND flash memory, 3D NAND memory offers several advantages. It provides greater longevity, quicker performance, and less power usage.
As the name implies, the 2D NAND flash memory is planar. It indicates that all the cells intended for data storage are placed next to one another. With 2D NAND flash, the number of cells that can fit on a card and the number of bits that are stored in the cell structure are the main factors in determining the flash memory's capacity. The 2D structural technique functions well, but it has several drawbacks. First, there might never be enough room to accommodate all of these cells. The cells may now be produced in smaller sizes due to numerous technical developments, but there is a limit to how small a cell can get and still function properly.
By Application Analysis
Based on application, the global NAND flash memory market is segmented into Smartphone, SSD, Memory Card, Tablet, and Others.
The Smartphone segment commands the market and is anticipated to grow at a CAGR of 6.57% during the projected period. A key component of smartphones today is flash memory storage. Due to the average capacity of smartphones, the need for NAND memory has been rising tremendously. In smartphones, NAND flash memory may significantly improve the speed of web browsing, email loading, gaming, and even social network sites. Manufacturers are incorporating technologies like gesture control, fingerprint scanners, and GPS. As a result, there is a greater need for NAND flash memory in smartphones.
Over the past few years, NAND flash consumption has increased. New technologies, including NAND SSD, are now making substantial inroads into enterprise computing devices, including servers, workstations, desktops, and notebooks. Desktop computers, netbooks, laptops, and embedded software are among the client SSDs. Servers in data centers and high-performance computing are two examples of enterprise SSD applications.
A Memory Card is a flash memory storage device that stores digital data. It saves the information as a variation in the memory cell's threshold voltage. They were made to be used with portable electronics like computers, tablets, smartphones, and (in certain circumstances) video gaming consoles. A key component of memory cards is NAND flash. Non-volatile storage is one of the main advantages of adopting NAND flash technology in memory cards.
Top Key Players
Samsung Electronics Co. Ltd
KIOXIA Corporation
Cypress Semiconductor Corporation
Micron Technology Inc.
Intel Corporation
Yangtze Memory Technologies
Powerchip Technology Corporation
SanDisk Corp.
SK Hynix Inc.
Others
