According to the new market research report, the "Next-Generation Memory Market by Technology (Volatile (HMC and HBM), and Nonvolatile (MRAM, FRAM, RERAM, 3D XPoint, NRAM)), Wafer Size (200 mm, 300 mm, and 450 mm), Application, and Geography – Global Forecast to 2025", is expected to reach from 2.4 billion in 2017 to USD 11.6 billion by 2025, at a CAGR of 22.0% between 2017 and 2025. The major factor driving the NGM market across the world is the big data demand for increasing demand for enterprise storage applications. The need for high bandwidth, low power consumption, and highly scalable memory device for technologies such as artificial intelligence (AI), Internet of Things (IoT), and Big Data is also driving the NGM market.

Market for nonvolatile memory held larger share of NGM market in 2016

The growth of the market for nonvolatile memory is attributed to the rising demand for faster, efficient, and cost-effective memory solutions. The emerging memory technologies also overcome the limitations of traditional nonvolatile memory devices, pertaining to scalability, endurance, and other parameters. A huge amount of data is generated globally on a daily basis, creating the need for more effective storage solutions with large storage capacity.

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Additionally, the increasing demands for wearable electronics, high-performance computing, and replacement of Flash memory storage are also fueling the demand for emerging nonvolatile memory technologies. The nonvolatile memory technologies have been gaining momentum in the recent years owing to their scalability, rapid read/write performance, and simple structure.

NGM market for consumer electronics application expected to grow at highest CAGR between 2017 and 2023

The NGM market for the consumer electronics application is expected to grow at the highest CAGR between 2017 and 2023. The performance requirements in consumer electronics are continuously increasing owing to rising need for high processing power and memory density while keeping product cost more or less persistent. Next-generation memory technologies have the capability to meet the requirements of consumer electronics equipped with advanced technologies such as AI, IoT, and big data analytics, generating huge amounts of data to be stored. The emerging memory technologies are mostly driven by connected and wearable devices. Smartphones, digital cameras, gaming devices, and other consumer electronics devices also need memory technologies in bulk. With the growing consumer electronics market, the demand for emerging memory technologies is also expected to increase.

NGM market for 450 mm wafer expected to grow at highest CAGR between 2017 and 2023

450 mm wafers are expected to hold twice as many dies as 300 mm wafers. It is expected to positively impact supply chain dynamics, industry composition, capital spending concentration, future R&D capabilities, and many other sides of the semiconductor manufacturing industry. 450 mm wafer fabs can accommodate more dice per wafer leading to the more storage capacity than that of 300 mm wafer fabs.

Additionally, with the increasing wafer cost and feature dimensions, 450 mm wafers would be the most preferred choice for the next-generation memory technologies.

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APAC leads NGM market in terms of market size

APAC is currently leading the NGM market and is projected to be in a leading position for the next few years owing to the high adoption of NGM. The strong economic growth and increasing demand for high-density memory modules is expected to drive the next-generation memory market in APAC. Additionally, the smartphone and PC vendors operating in China adopt memory technologies at a large scale. The electronics manufacturers in China require a large amount of memory technologies as the majority of them manufacture Android devices, which need more memory than iOS devices.