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Global Low Density SLC NAND Flash Memory Market Demonstrates A Spectacular Growth USD 1.2 Billion in 2029


Global Low Density SLC NAND Flash Memory Market: Products, Materials, Applications, Growth Rates and Shares, and Forecast: 2020 – 2029” is the title of one of the recently produced reports by research team at Market.US. The global low density SLC NAND flash memory market is projected to reach a value of approximately US$ 1.2 Billion in 2029, from a value of around US$ 1.1 Billion in 2018. The global market is projected to register a steady growth rate of 0.7%. The market has been segmented on basis of product type, application, and region.

Growing adoption of automobiles due to increasing global population, rising disposable income, changing lifestyles, clubbed with stringent yet favorable government regulations for vehicle as well as passenger safety are major factors projected to fuel sale of vehicles on a global scale. For instance, according to the International Organization of Motor Vehicle Manufacturers, around 2,370,271 automobiles were manufactured in Canada in 2016, which was an increase by 3.8% compared to 2015 volume. In addition, according to the European Automobile Manufacturers Association, EU produced 18.4 Mn motor vehicles in 2015, which was 23% of the 91.5 Mn motor vehicles produced globally.

In automotive applications, low density SLC NAND flash memory is used in automotive infotainment and instrument clusters as it is a highly reliable data storage device. Increasing focus of OEMs on comfort and convenience has led to the development of various infotainment systems with enhanced features including voice control, Bluetooth connectivity, navigation information, and traffic updates on real-time basis. Additionally, growing adoption of advanced driver-assistance systems (ADAS) for manufacturing advanced vehicles is in turn estimated to support market growth. The advent of connected cars is increasingly boosting demand for improved automotive experience through features such as wireless connectivity, ADAS, GPS, and infotainment, which is driving automotive designs to the next level and spurring the need for advanced memory solutions

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Low density SLC NAND flash memory is used in a range of application such as set-up box, digital cameras, digital TVs, printers, toys, robots, gaming consoles etc., owing to high reliability. In addition, SLC NAND flash memory offers fast read and write capabilities. Growing adoption of smart televisions owing to increasing purchasing power, growing popularity of high definition (HD) channels, coupled with government regulations or mandates regarding usage of set-top boxes rather than wired cable television broadcast channels, especially in countries such as China and India, are factors expected to fuel revenue growth of the target market over the 10-year forecast period. For instance, in India, regulation of cable television networks is ensured through a two-step process. In order to keep track of cable operators, compulsory registration is mandated for cable operators. It also lays down provisions to regulate content to be broadcasted by the cable operator.

Increasing demand for advanced printing technologies such as laser printers, as it is capable of generating a very high quality print with fast speed, coupled with use of SLC NAND flash memory in these devices is in turn projected to support market growth. In addition, increasing popularity of video games among younger members of the global population is estimated to drive demand for gaming consoles, resulting in further growth of the target market over the 10-year forecast period. NAND, which is characterized by low cost per bit, is primarily adopted as a digital data storage medium for mobile phones, digital cameras, and digital audio device.

Low density SLC NAND flash memory devices are also used various industrial applications such as smart meters, industrial cards, industrial sensors etc. Adoption of the product in POS terminals coupled and increasing demand for POS terminals in retail outlets, as it enables faster transactions, eliminates potential human errors – has been rapidly increasing in the recent past, and is estimated to continue to drive growth of target market over the forecast period. For instance, in November 2016, the Government of India (GoI) launched the “Digital India” initiative in order to promote a cashless economy and online transactions. This initiative resulted in rapid and steady demand for POS terminals when the GoI announced its demonetization drive in the country. Indian banks have surpassed the target of 1 Mn POS terminals post-demonetization.

Increasing demand for low density SLC Nand flash memory in wearables such as smartwatches, wearable cameras, coupled with increasing adoption of the product in high-security systems, is in turn expected to drive growth of the target market over the forecast period. For instance, in October 2015 for instance, Cypress Semiconductor Corp. introduced a SLC NAND Flash family for high-security applications. New Cypress SecureNAND family of devices reduces system costs and improves system security by providing a single nonvolatile memory with integrated block protection features for set-top boxes, POS systems, wearables, and other applications that require high-security.