According to The Insight Partners’ research, “Automotive Memory Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 14,652.8 million by 2028, registering a CAGR of 24.0% from 2022 to 2028.
Surging demand for automotive telematics is driving the internet of things (IoT) expansion, which is projected to drive increased demand for automotive memory. New automobiles now come with cutting-edge technologies such as advanced driver assistance systems (ADAS) and predictive and self-intelligence systems. All of these functions necessitate the use of an automotive microcontroller. Memory is built into automotive microcontrollers for data storage and transport, and the growing demand for such features contributes to an increase in the need for automotive memory. These factors collectively drive the growth of the automotive memory market size globally.
The APAC automotive memory market is segmented into Australia, China, India, Japan, and South Korea. The region’s economy is performing well due to numerous technological and infrastructural developments. The Asia Pacific region is expected to grow rapidly during the forecast period. The rising government initiatives for smart cities and smart traffic management systems are largely responsible for the region’s tremendous growth. Furthermore, factors such as steadily increasing economies, expanding internet access and high-speed networks, and technical advancements in the automotive sector are all boosting the the Asia Pacific automotive memory market growth. The region’s need for self-driving cars has prompted OEMs to deploy advanced telematics technology and services, projected to boost the automotive memory market size.
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Companies Profiled in this report includes: Micron Technology, Inc.; Sk Hynix.; Samsung Electronics Co., Ltd.; Western Digital Technologies, Inc.; Infineon Technologies AG; Macronix International Co.; Integrated silicon Solution, Inc.; Renesas Corporation; Qualcomm Technologies, Inc.; MediaTek, Inc.; Toshiba Corporation; STMicroelectronics; Nanya Technology; Texas Instruments Inc. and Windbond Electronics Corp
During the COVID-19 pandemic, the automotive memory market was severely hit and experienced a significant decline in demand. Most players in this region reported a significant decline in revenue, as the temporary closure of manufacturing facilities hampered normal business functioning. Higher semiconductor prices and disrupted supply chain further aggravated the situation. Shortage of labor, risk of contamination, and lack of funds were other issues that led to diminished automotive memory market growth. Governments of most European nations focused on fighting the pandemic, while citizens were advised to stay indoors. This led to a significant decline in automotive production, sales, registration, and the sale of aftermarket parts. Such factors negatively impacted the automotive memory market size in Europe.
The impact of the COVID-19 pandemic differed from country to country across Europe, as selected countries experienced an increase in the number of recorded cases and subsequently attracted strict and extended lockdown periods or social isolation. Germany, Italy, the UK, Russia, France, and Turkey were most affected by various restrictions and limitations. However, automotive manufacturing have been resuming since the fourth quarter of 2020, and there is a growing application of automotive memory products. Hence, in next coming years the automotive memory market growth is expected to return to pre-COVID rates.
The automotive memory market is segmented on the basis of product, vehicle type, and application. Based on product, the market is segmented into DRAM, NAND, SRAM, and others. Low Density SLC NAND Flash Memory Type, the type of NAND considered, is further segmented into 8Gbit, 4Gbit, 2Gbit, and Others. On the basis of vehicle type, the automotive memory market is segmented into passenger and commercial vehicles. By application, the automotive memory market is segmented into infotainment & activity, ADAS and others.
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Key Findings of Market Study:
R&D, manufacturing, marketing & sales, and end-users are stakeholders of the global automotive memory market value chain. R&D expenses vary primarily with the amount of research and pre-qualification wafers processed and end product solutions developed, labor costs, and the cost of advanced equipment dedicated to new product and process development, such as investments in EUV lithography equipment. It is considered finished when a product has passed internal reviews and tests for performance, functionality, and dependability. R&D costs might vary dramatically depending on when a product is qualified. Materials and services are typically obtained from many sources. However, only a small number of suppliers can produce standards-compliant materials and services; in some circumstances, materials, components, or services are offered by a single or sole source. Wafer fabrication, assembly, and testing are some of the complex phases through which the memory is manufactured. To avoid yield loss due to impurities, wafer fabrication occurs in a carefully controlled, clean environment. Direct sales channels, including websites, broad sales and applications teams, and distributors, are the various sales channels through which automotive memories are sold to the end-users.
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