Memory Integrated Circuit (ic) Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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The Memory Integrated Circuit market is anticipated to witness a CAGR of 7.6% over the forecast period (2021 - 2026). Recent technological advancements in this field have been revealing new applications each day. Rising proliferation of smartphones, feature phones, and tablets, growing demand for low-power memory requirements in portable wireless devices, increasing demand for Solid State Drives (SSD) in big data storage applications are some of the major factors influencing the growth of the market for memory integrated circuit devices.

- Memory ICs are mainly applied in memory based electronic devices such as mobile phones, computers, tablets, medical devices, smart cards, digital cameras, communication equipment, and other digital electronic devices.
- The application of memory IC is very predominant in smart-phones, media players, and USB drives. The demand for sophisticated memory ICs is expected to grow at a high rate owing to increasing adoption and enhancements in smartphone devices. Tablet computer is one other device with a significant need for memory IC. With the increasing adoption of tablet PCs, the ...
... demand for memory ICs is expected to grow over the forecast period. Canalys, a technology market analysis firm estimates that the shipment of tablet PCs worldwide could reach 141 million units by 2022 from 127 million units in 2018. Few other devices where memory ICs find its applications include digital cameras & camcorders, smart cards that can maintain records of the cardholder.
- Healthcare industry is one other key application area of the memory ICs. The increasing need to provide secure access to emergency medical information is creating a scope for memory ICs in the healthcare sector. Devices with the memory ICs can help in maintaining the records of patients in various medical equipment like blood analysis devices, electrocardiographs, diagnostic imaging apparatus, medical PCs, and other electronic health record systems. As per the statistics of the National Center for Health Statistics, the market for electronic health record systems is expected to reach USD 40 billion by 2024, from USD 26 billion in 2018.

Key Market Trends

Rising Proliferation of Smartphones, Feature Phones, and Tablets

- Memory integrated circuits are used in mobile phones circuit to provide storage for the phone's operating system and customizable features, such as the phone directory. They are used to enable the functions of amplifiers, oscillators, time-counter computer memory, microprocessors, etc.
- The market for integrated circuit market is anticipated to record robust growth, owing to the ongoing developments in the smartphone industry. Intense competition among mobile manufacturers is expected to further drive the growth of the market studied, over the forecast period. Samsung's recent offering includes a solution that allows phones to have one terabyte of storage with a single flash memory chip. This chip is expected to bring notebook-like user experience to the next generation of mobile devices.
- Statistics from the estimates of eMarketer depicts that the global smartphone shipments worldwide are projected to add up to around 1.7 billion units in 2020 and about 40% of the world's population is projected to own a smartphone, by 2021.
- Development in near field communication (NFC), which lead to the production of dynamic solutions for mobile couponing, mobile ticketing, and access control, is further expected to drive the growth of revenue.

Asia-Pacific is Expected to Grow at a Significant CAGR

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- Asia-Pacific is the home for more than 60% of the world's current population. The population and consumption of consumer electronics in the region are growing at the highest rate today, due to which the region is expected to record substantial growth of memory ICs market, over the forecast period.
- World Semiconductor Trade Statistics (WSTS) revealed that the global revenue from integrated circuits from 2009 to 2018 has increased from USD 190.3 billion to USD 401.6 billion, of which, the Asia-Pacific region accounts for over 40% of the global IC market. As per the statistics from IC Insights, the Asia-Pacific region accounts for over 25% of the global memory IC market.
- The presence of prominent semiconductor companies (such as Avago Technologies) in the region is expected to boost the growth of the market. Besides, the increasing number of suppliers of semiconductor material required to manufacture ICs is boosting the production of memory ICs. Asia-Pacific is closely followed by North America owing to the development of medical and automobile sector along with consumer electronics.

Competitive Landscape

The Memory Integrated Circuit (IC) Market is highly competitive and is currently dominated by a few players with their technological expertise in advanced semiconductor technology. The global market is expected to be consolidated in nature, and the major players with a prominent share in the market are focusing on product developments and strategic collaborative initiatives to increase their market share and their profitability. However, the market is expected to witness growing competition and the emerging presence of multiple players during the forecast period. Microchip Technology Inc., STMicroelectronics, ON Semiconductor Corporation, Maxim Integrated Products, Inc., Fujitsu Ltd., Cypress Semiconductor Corporation, ABLIC Inc., Renesas Electronics Corporation, ROHM Semiconductor Co., Ltd., and Adesto Technologies Corporation are some of the major players present in the current market.

- June 2019 - Infineon Technologies announced that it would acquire Cypress Semiconductor Corp CY. This acquisition is expected to provide the advantage of economies of scale creation that amount to roughly USD 200 million in annual cost reduction by 2022.
- April 2019 - Alien Technology released 'Higgs 9', its latest IC. This device is expected to the offer highest amount of memory (among its chips), with improved sensitivity and a lower cost.
- May 2018 - Microchip acquired Microsemi for USD 8.35 billion. This acquisition is expected to boost Microchip analog business in computing and communications applications.

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