Global Opportunities in the Automotive Memory Market (2019-2024): Projected to Grow at a CAGR of Approx 24% to Reach ~$11 Billion - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 5, 2019--The “Automotive Memory Market - Global Outlook and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.
The global automotive memory market is estimated to generate revenues of around $11 billion by 2024, growing at a CAGR of approximately 24% during 2018-2024.
The report considers the present scenario of the global automotive memory market and its market dynamics for the period 2019-2024. It covers a detailed overview of the various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies, prominent, and other prominent vendors operating in the market.
Growth EnablersIncreasing adoption of infotainment systems Increasing number of semiconductors in vehicles Growing use of memory modules for optimal functioning of ADAS systems Increasing demand for efficient memory modules in EVs Increasing sales of luxury cars
Growth RestraintsFluctuating raw material prices Sluggish pace of development of autonomous driving platforms Growing instances of automotive cyber-attacks
Opportunities & TrendsIncreasing use of advanced sensors and cloud technology in vehicles Growing popularity of connected cars Emergence of autonomous vehicles
This market research report includes a detailed segmentation of the market by product, application, vehicle and geography.
The global automotive memory market by product is segmented into DRAM, NAND, NOR, and others. The DRAM segment dominated more than half of the total market share in 2018, growing at a CAGR of around 24% during the forecast period.
The introduction of ADAS, infotainment, multi-camera vision processing and self-driving cars which are driving the computing needs are driving the demand for DRAM in the global market. NOR flash can operate in extreme conditions and are more rugged than other storage solutions in the market. The introduction of MCP (multichip package) and HDD will revolutionize the global automotive memory market over the next few years.
The application segment in the global automotive memory market is divided into infotainment & connectivity, instrument cluster, powertrain, ADAS, and others. ADAS is the fastest growing application segment in the global market, at a CAGR of around 25% during the forecast period.
The increasing number of road accidents led to the introduction of stringent safety regulations and propelled the demand for ADAS in the global market. The installation of next-generation instrument clusters displaying information graphical gauge readouts on large, high-resolution color displays is resulting in increasing the demand for onboard storage and data processing in the market. The integration of powertrain will ensure fuel efficiency and improve the average fuel economy in the global automotive memory market.
The global automotive memory market by vehicle is classified into passenger cars and commercial vehicles. The passenger car segment occupied the largest market share in 2018, growing at a CAGR of more than 22% during the forecast period.
The establishment of stringent safety regulations is leading to the integration of next-generation electronics sensors that are developed in sync with ADAS technology in the passenger car segment in the global market. The popularity of electric and hybrid vehicles will drive the demand for DRAM and NAND based memory modules in the global automotive memory market.
The geographical segment in the global automotive memory market is categorized into APAC, Europe, North America, Latin America, and MEA. North America is the fastest growing region in the global market, at a CAGR of over 24% during the forecast period.
The presence of innovative companies such as Waymo, Nvidia, Deepscale, Nauto, and drive.ai is driving the growth of the North American region in the global market. European regulations mandating ADAS features such as lane departure warning systems (LDWS), autonomous emergency braking systems (AEBS), electronic stability control (ESC), and telematics features such as eCall will drive the growth of the global automotive memory market.
Key Vendor Analysis
The global automotive memory market is witnessing the presence of several players that compete on a price basis. The stringent safety and emission norms are encouraging the vendors to diversify their product portfolio to reach the maximum number of consumers in the global market.
The presence of global and domestic OEMs that often compete in terms of prices and product differentiation is intensifying the competition in the market. The leading manufacturers are expanding their businesses to emerging nations to reach the maximum number of consumers and boost their profitability in the global automotive memory market.
The major vendors in the global market are:Micron Technology Cypress Semiconductor Samsung Integrated Silicon Solution
Other prominent vendors include: Toshiba Corporation, Nanya Technology, SK HYNIX, Western Digital, Seagate Technology, Intel, STMicroelectronics, Texas Instruments, NXP Semiconductors, Qualcomm Technologies, Renesas Electronics, Macronix International, Dialog Semiconductor, Winbond, MediaTek, ATP Electronics, Microchip Technology, GigaDevice, Taiwan Semiconductor Manufacturing Company, Swissbit, Everspin Technologies, GSI Technology, Nantero, Tower Semiconductor, and Integrated Device Technology.
For more information about this report visit https://www.researchandmarkets.com/research/xxmp66/global?w=4
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Related Topics:Telematics and Vehicle Electronics
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Research and Markets
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PUB: 02/05/2019 09:05 AM/DISC: 02/05/2019 09:05 AM