Automotive Memory Market Analysis

1. Automotive Memory Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2022-2028

2. Global Automotive Memory Market - Industry Trends & Forecast Report 2028 A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the GlobalAutomotive Memory Market was worth USD 3,475.3 million in 2021 and is projected to reach up to USD 17,250.6 million by the year 2028, growing at a CAGR of 23.9% over the analysis period of 2022-2028. The expansion in the Automotive Memory market can be primarily attributed to the emergence and incorporation of several advanced features such as advanced driver assistance systems (ADAS), predictive and self-intelligence systems, and other capabilities in automotive.

3. Growth Drivers Surging Demand for Automotive Telematic Surging demand for automotive telematics is driving the expansion of the internet of things (IoT), which is projected to drive increased demand for automotive memory. New automobiles now come with standard cutting-edge technologies such as advanced driver assistance systems (ADAS) and predictive and self-intelligence systems. All of these functions necessitate the use of an automotive microcontroller. Memory is built into automotive microcontrollers for data storage and transport, and the growing demand for such features contributes to an increase in the need for automotive memory. Automotive telematics systems are widely used in communication, mapping, and upgrading the safety aspects of automobiles.

4. Restraints  Increased Risk on Data Privacy With automobiles becoming increasingly connected, a variety of attacks are emerging. Car thieves abuse keyless entry systems, hackers find new ways to exploit vehicle components, and fraud targets auto financing. The IoT solutions and services generate a great deal of data to predict and make decisions. Data generated is stored in automotive memory products and is transferred either on personal devices like smartphones or through cloud services. This exposes the users’ data to potential cyberattacks and thefts, which act as a major restraining factor for the automotive memory market.

5. Impact of COVID-19 The automotive memory market was negatively impacted due to COVID-19 in 2020 in different ways. Such as transportation limitations implemented across the world in response to the pandemic and resulted in the disruption of the supply chain of major raw materials required for automotive memory production. According to the OICA (International Organization of Motor Vehicle Manufacturers), vehicle production fell by about 16 percent in 2020, with less than 78 million vehicles produced worldwide. Automobile and components production sites have closed around the world, consumer traffic in showrooms has plummeted, and governments in various regions have placed temporary trade restrictions, resulting in a major decline in automobile sales.

6. Regional Insights In terms of the regional analysis, the global automotive memory market can be segmented into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America. Amidst the segmentation, North America accounted for the largest market share in 2021. Innovative businesses like Waymo, Nvidia, Deepscale, Nauto, and driving and propelling the North American region's growth in the global industry. Europe is the fastest expanding region in the global market, with a CAGR of 25.4% over the projection period. This can be attributed to the European rules requiring ADAS features such as lane departure warning systems (LDWS), autonomous emergency braking systems (AEBS), electronic stability control (ESC), and telematics capabilities such as eCall will propel the global automotive memory industry forward.

7. Competitive Landscape The global automotive memory market is characterized by the presence of many local, regional, and global vendors. The key players operating in the global Automotive Memory market are Micron Technology Inc., Samsung Electronics Co., Ltd., Toshiba Corporation, Western Digital Technologies, Inc., SK Hynix, Integrated Silicon Solution, Inc., Renesas Electronics Corporation, Macronix International Co., Texas Instruments Incorporated, Qualcomm Technologies, Inc., Infineon Technologies AG, MediaTek, Inc., STMicroelectronics, Nanya Technology, Windbond Electronics Corp. and other prominent players.

8. Recent Development March 2022: Toshiba Corporation has made significant progress in downsizing the laser projector unit of its LiDAR to one-quarter the size of the previous iteration, which was delivered in June 2021. With an industry-leading image resolution of 1200x84 pixels, its range has been extended to 300m, the world's longest(*1). It can be built with a variety of flexible projector unit combinations to address a wide range of long-range and wide-angle detecting applications.

9. Key Players The key players operating in the global automotive memory market are Micron Technology Inc., Samsung Electronics Co., Ltd., Toshiba Corporation, Western Digital Technologies, Inc., SK Hynix, Integrated Silicon Solution, Inc., Renesas Electronics Corporation, Macronix International Co., Texas Instruments Incorporated, Qualcomm Technologies, Inc., Infineon Technologies AG, MediaTek, Inc., STMicroelectronics, Nanya Technology, Windbond Electronics Corp. and other prominent players.

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