The global next generation memory market is expected to reach USD 3.43 billion by 2020, according to a new study by Grand View Research, Inc. Increasing need for fast and economical storage solutions across diverse applications is estimated to drive market growth over the forecast period. Next generation memory is used for various applications such as enterprise, industrial and automotive to store and manage information, which is expected to augment market growth over the next six years.Increasing use of next generation memory in mobile phones to enhance customer experience is expected to fuel market growth. Increasing demand for wearable electronics and replacement of flash memory storage may provide new growth avenues to the next generation memory market. Low environment stability and high design cost may act as a restraint to market growth over the forecast period.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/next-generation-memory-market
Further key findings from the study suggest:
- Non-volatile memory storage is expected to remain the key product segment over the forecast period; it accounted for over 90% of the market in 2013. This technology is used for economical storage and fast processing of data and sustains the stored information even when the power is turned off. Volatile memory storage is estimated to witness considerable growth over the forecast period. In this technology, information fades when the power supply is turned off unless the storage device is periodically refreshed.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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