NAND Flash Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

NAND Flash Memory Market Overview

The NAND Flash Memory Market size is estimated at USD 52.86 billion in 2024, and is expected to reach USD 68.87 billion by 2029, growing at a CAGR of 5.43% during the forecast period (2024-2029).

With the rise of PCs and smartphones, NAND flash consumption is dramatically increasing, much of which is attributed to the growth of the average capacity of smartphones. This is expected to drive the demand for NAND flash packaging, thus influencing the demand for memory packaging.

• The growth of the market depends on several factors, including the growing investments in fabrication facilities, the market growth through edge storage, and the growing need for high-density storage to support smartphone applications.
• The rising demand for 3D NAND has created an opportunity for supply chain members such as chip makers, equipment manufacturers, and material suppliers. This is driving investments in 3D NAND fabrication facilities.
• Other consumer products such as tablets and cameras, along with industrial equipment and sensors, automotive systems, and medical devices, rely upon flash memory, which is integrated alongside their processors, and stores both data and the code they execute. As demand for massive data processing for artificial intelligence and machine learning applications grows, the trend for flash-based storage will continue to evolve.
• The electronics device sector was anticipated to be impacted significantly by the COVID-19 outbreak, as China is one of the major suppliers of raw materials and finished products. The industry faced a reduction in production, disruption in the supply chain, and price fluctuations. The sales of prominent electronic companies were affected during the period. The travel restriction on both people and products hampered the market's growth in the short run.
• Production of China-based NAND flash vendors was not severely affected by the outbreak of novel COVID-19. This is because the plants are highly automated, have relatively low demands for manpower, and operators are also stocked up with raw materials before the Chinese Lunar New Year. Foundry output was delivered to customers in China because semiconductor fabrication plants hold national special licenses. These allow them to ship their products throughout domestic China, even with cities under quarantine.

NAND Flash Memory Key Market Trends

The Smartphone Segment is Expected to Witness Significant Growth

NAND Flash Memory Scope of the Report

NAND flash is a kind of non-volatile storage technology that does not require power to retain data. In other words, it is a form of electronically erasable programmable read-only memory (EEPROM). It is programmed, erased, and reprogrammed in large blocks. It's called NAND because, at the circuit level, it's similar to the NAND logic function. The scope of the study covers the market on the basis of the type of NAND and different applications in smartphones, SSD, Memory Cards, and Tablet PC across the world.

The NAND flash memory market is segmented by type (SLC ((one-bit per cell), MLC ((second-bit per cell), and TLC (three-bit per cell), QLC (quad level cell)), structure (2-D structure and 3-D structure), application (smartphones, SSD, memory cards, and tablets), and geography (North America, Europe, Asia Pacific, Latin America, Middle-East and Africa). The market sizes and forecasts are provided in terms of value in USD for all the above segments.