IMARC Group, a leading market research company, has recently releases report titled “Automotive Memory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automotive memory market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big Is The Automotive Memory Market?
The global automotive memory market size reached US$ 5.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.2 Billion by 2028, exhibiting a growth rate (CAGR) of 13.4% during 2023-2028.
What Are Automotive Memory?
Automotive memory is a data storing, accessing, and transmitting solution that functions similarly to commercial memories while performing various vehicle operations. It can be compared to error-correcting code (ECC) memories, wherein the information is stored, and memory access must be accurate. It helps communicate information between car functions and make quick decisions after evaluating real-time data to ensure comfort and safe driving with minimal human intervention. As a result, automotive memory finds extensive applications in multi-camera vision, digital cluster instruments, advanced driving assistance systems (ADAS), infotainment solutions, and powertrains across the globe.
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What Are The Growth Prospects And Trends In The Automotive Memory Industry?
The global automotive memory market is primarily driven by the rising need for modern vehicles with infotainment and engine control systems. Moreover, the increasing demand for onboard or cloud technologies in vehicles to manage traffic signals, lanes, parking, and surveillance activities is positively influencing the market growth. Additionally, the surging adoption of the ADAS system in automobiles due to rising incidences of road accidents and the implementation of stringent government safety regulations represents another major growth-inducing factor.
Besides this, the development of next-generation clusters that enable the display of high-definition (HD) content and streaming music or video has catalyzed market growth. Other factors, including the ongoing development of non-contact three-dimensional (3D) magnetic sensors, rising integration of safety electronics, and rapid expansion in the automotive sector, are also anticipated to drive the market further.
What Is Included In Market Segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- DRAM
- NAND
- SRAM
- NOR
- Others
Breakup by Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
Breakup by Application:
- Infotainment and Connectivity
- ADAS
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who Are The Key Players Operating In The Industry?
The report covers the major market players including:
- Infineon Technologies AG
- Integrated Silicon Solution Inc.
- Macronix International Co. Ltd.,
- Micron Technology Inc.
- Nanya Technology Corporation
- Renesas Electronics Corporation
- Samsung Electronics Co. Ltd.
- SK hynix Inc.
- Texas Instruments Incorporated
- Western Digital Corporation
- and Winbond Electronics Corporation.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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