The Europe Next Generation Memory Market would witness market growth of 16.6% CAGR during the forecast period (2023-2030).
The demand for data-intensive applications significantly drives the rapid development of the market. The advent of ML, big data, and AI has placed unprecedented demands on memory systems. These applications need vast amounts of data to be processed quickly, efficiently, and reliably, which necessitates memory technologies capable of meeting these requirements.
In addition, the emergence of IoT and the increasing number of connected devices have increased the demand for memory solutions. IoT devices produce large volumes of data; these must be handled and stored in a dependable and energy-efficient way. Next-generation memory technologies hold the promise of enabling these devices to operate seamlessly, with rapid data access and low energy consumption.
The automotive industry is another sector that stands to benefit from next-generation memory technologies. For data processing and storage, advanced driver assistance systems (ADAS) and autonomous car development depend on quick and dependable memory solutions. Technologies like MRAM, with their non-volatility, endurance, and speed, offer promising options for automotive applications. The latest developments in the market also focus on memory that can endure harsh conditions and environments. This is critical for applications in aerospace, defense, and industrial sectors, where memory needs to withstand extreme temperatures, radiation, and vibrations.
For Europe to grow, the automotive industry is essential. The European Union produces some of the most cars in the world, and the automotive industry is the greatest private investor in R&D. The European Commission backs worldwide technology harmonization and funds R&D to increase the competitiveness of the EU automobile industry and maintain its technological leadership. Over 7% of the EU's GDP is revenue from the automotive industry. In the coming years, outside of the EU, the sector is anticipated to increase by 80%.
Furthermore, one of Italy's key sectors is the automobile sector. According to the International Trade Administration, the Italian automotive industry generated €106.1 billion in revenue in 2020, accounting for 6.2% of Italy's GDP and 11% of the country's manufacturing revenue, according to the most recent figures. Hence, the growing automotive industry is an essential factor in expanding the regional market.
The Germany market dominated the Europe Next Generation Memory Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,098.6 million by 2030. The UK market is experiencing a CAGR of 15.5% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 17.5% during (2023 - 2030).
Based on Technology, the market is segmented into Non-volatile (Magneto-resistive Random-access Memory (MRAM), Ferroelectric RAM (FRAM), SRAM, Resistive Random-access Memory (ReRAM), Nano RAM, and Others), and Volatile. Based on Wafer Size, the market is segmented into 300 mm, and 200 mm. Based on Vertical, the market is segmented into Enterprise Storage, Consumer Electronics, BFSI, Telecommunications, Information Technology, Government, Automotive & Transportation, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Next Generation Memory Market will Hit $21.8 Billion by 2030, at a CAGR of 17.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co. Ltd., Micron Technology, Inc., Fujitsu Limited, Toshiba Corporation, Honeywell International, Inc., Microchip Technology, Inc., Everspin Technologies, Inc., Infineon Technologies AG, Kingston Technology Company, Inc., and Intel Corporation.
By Technology
By Wafer Size
By Vertical
By Country
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