Next-Generation Memory Market Trends

Growth Drivers

• Increasing Use of Next Generation Memory Technologies In Embedded Systems And IOT Devices- Next generation memory like MRAM and ReRAM, which offers high performance read and write speed with low energy consumption and no volatility, makes them appropriate for use in embedded systems and Internet of Things (IoT) devices that are increasingly replacing traditional memories. The number of connected Internet of Things devices is estimated to be about 15.14 billion by the latest available data. By 2030, it is estimated that this figure will more than double to 29.42 billion. This memory can enable instanton capabilities, improve energy efficiency and enhance storage of data in smart devices.
• Growing Adoption of Artificial Intelligence, Big Data, Machine Learning and Cloud Computing- The rise in demand for high bandwidth, low power consumption and large scalable memory is due to the increasing adoption of advanced technologies such as big data, artificial intelligence, machine learning, cloud computing etc. Every day, approximately 2.5 quintillion bits of data are created. The global data is 70% user generated cloud computing end user expenditure that totals around USD 500 billion per year.
• Increased Demand for Memory Devices Allowing Quick Access, and Consuming Little Power- High capacity and fast storage memory is becoming increasingly popular due to the growing number of data in companies as well as the popularity of cloud storage solutions. Advanced products continue to improve their performance, which drives a large part of the semiconductor industry. To meet the demands of memory devices with high speed, lower power consumption, and higher scale. Different new non-volatile memories have been created, including RRAM, MRAM, FeRAM, and NRAM. These technologies have more scale, density, speed, and endurance than traditional technology. After a command request, most emerging memory technologies take between 1 and 10 nano second for their output to meet the specified requirements.

Challenges

• The Cost of Manufacturing Next Generations' Memories Continues to Rise- The production cost of high-density DRAM and SRAM is very high today, while there are also significant costs for the manufacturing of high-bit density next generation memory. More complicated production processes are commonly involved in a new generation of memory technologies compared to traditional technology for the storage of memories. The use of specialist equipment, materials, and expertise may be required for these processes which can lead to higher costs. Next generation memory technologies have the potential to show lower production yields as a result of problems like defects, process variation or material challenges during their first stage of development and manufacture. As a result, the cost per functional chip is higher due to low yields.
• The higher the degree to which memory devices are subjected to thermal shock, the more likely they will be damaged and thus hamper market growth.
• The growth of the market may be hindered by higher design costs as a result of a lack of standardized production processes.