Automotive Memory Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component [Hardware (Cameras, Display Boards and Sensors), Software (Cloud and On-Premise) and Services], Application (Automatic Tolling, Lane Management, Parking Management, Surveillance, Traffic Signal Management, and Others) and Geography

According to our latest market study on "Automotive Memory Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Vehicle Type and, Application," the market is expected to grow from US$ 2,937.7 million in 2021 to US$ 14,652.8 million by 2028; it is anticipated to grow at a CAGR of 24.0% from 2022 to 2028.

Surging demand for automotive telematics is driving the internet of things (IoT) expansion, which is projected to drive increased demand for automotive memory. New automobiles now come with 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. These factors collectively drive the growth of the automotive memory market size globally.

The APAC automotive memory market is segmented into Australia, China, India, Japan, and South Korea. The region's economy is performing well due to numerous technological and infrastructural developments. The Asia Pacific region is expected to grow rapidly during the forecast period. The rising government initiatives for smart cities and smart traffic management systems are largely responsible for the region's tremendous growth. Furthermore, factors such as steadily increasing economies, expanding internet access and high-speed networks, and technical advancements in the automotive sector are all boosting the the Asia Pacific automotive memory market growth. The region's need for self-driving cars has prompted OEMs to deploy advanced telematics technology and services, projected to boost the automotive memory market size.

The global automotive memory market value chain comprises the following stakeholders- R&D, manufacturing, marketing & sales, and end-users. The company's R&D efforts primarily focus on developing industry-leading memory and storage solutions that enable performance and cost structure improvements for automotive memory products. A variety of suppliers provide materials, parts, and supplies to companies. Players may acquire such products from sole-source suppliers in some situations. The availability of resources that satisfy demanding requirements and using third parties to offer components and services are essential to the supply chain and operations. Manufacturing semiconductor products is a complicated process that includes many precise phases such as wafer fabrication, assembly, and testing. The successful deployment of sophisticated semiconductor manufacturing techniques across many facilities is required for efficient semiconductor product production. Companies mainly market and sell their products through direct sales channels, including websites, broad sales and applications teams, and distributors. For instance, NXP Semiconductors N.V. sells its products and solutions to OEMs, ODMs, contract manufacturers, and distributors worldwide. End-users of automotive memory include OEMs and automobile manufacturers.

The automotive memory market is segmented on the basis of product, vehicle type, and application. Based on product, the market is segmented into DRAM, NAND, SRAM, and others. Low Density SLC NAND Flash Memory Type, the type of NAND considered, is further segmented into 8Gbit, 4Gbit, 2Gbit, and Others. On the basis of vehicle type, the automotive memory market is segmented into passenger and commercial vehicles. By application, the automotive memory market is segmented into infotainment & activity, ADAS, and others.