Automotive Memory Market Size 2022, Share And forecast Till 2027

Byimarcsuraj

IMARC Group has recently released a new research study “Automotive Memory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What are the growth prospects of the Automotive Memory Industry?

The global automotive memory market size reached US$ 4.64 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.63 Billion by 2027, exhibiting a growth rate (CAGR) of 13.70% during 2022-2027.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

What is a Automotive Memory Market?

Automotive memory refers to a data storing, accessing, and transferring solution that is considered similar to commercial memory in function. It can be compared with error-correcting code (ECC), where memory access must be proper. In line with this, automotive memory includes dynamic random-access memory (DRAM), static random-access memory (SRAM), read-only memory (ROM), magneto-resistive random-access memory (MRAM) testing, etc. These solutions help in conveying information between functions in the car and making instant decisions after analyzing real-time data to ensure comfort and safe driving with little-to-no human intervention.Consequently, automotive memory finds extensive applications in advanced driving assistance systems (ADAS), multi-camera vision, digital cluster instruments, infotainment solutions, powertrains, etc., across the globe.

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What are the major market drivers in the Automotive Memory Market?

The escalating demand for modern vehicles with infotainment and engine control systems is primarily augmenting the automotive memory market. Furthermore, the rising need for onboard or cloud technologies in automobiles to perform surveillance, automatic trolling, lane, parking, and traffic signal management operations is positively influencing the global market. Apart from this, the growing incidences of road accidents and the implementation of stringent safety regulations by government bodies have prompted the incorporation of the ADAS system in vehicles, which is acting as another significant growth-inducing factor. Moreover, the increasing integration of safety electronics, including airbags, robust chassis, blind-spot displays, obstacle identifiers, traction control, and sensor-guided solutions, is also bolstering the market growth.Besides this, the introduction of next-generation clusters that enable the display of high-definition (HD) content and streaming music or video is expected to fuel the automotive memory market in the coming years.

Who Are The Major Key Players in The Market?

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 CorporationReport Segmentation:

The report has been segmented the market into 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

 By Geography:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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