Northbrook, IL 60062 -- (SBWIRE) -- 04/21/2022 -- According to the new research report, the "DRAM Module and Component Market by Type (LPDRAM, DDR5, DDR4, DDR3, GDDR, HBM), End-User Industries (Server, Mobile Devices, Computers, Consumer Electronics, Automobiles), Memory (above 8GB, 6-8GB, 3-4GB, 2GB) and Geography - Global Forecast to 2027", published by MarketsandMarkets™, the global DRAM module and components market was valued at USD 94.9 billion in 2021 and is expected to reach USD 110.7 billion by 2027, at a CAGR of 1.2% during the forecast period from 2022 to 2027. The key factors driving the growth of the DRAM module and components market include emergence of 5G technology, growth in demand for DRAM module and components in automotive sector, growth in adoption of high-end smartphones, and others.
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LPDRAM Module and Component segment to account for the largest share of DRAM module and components market during the forecast period
LPDRAM Module and Component segment holds the largest market share in the DRAM module and components market by type and is expected to retain its position during the forecast period owing to the increasing applications of these DRAMs in battery-operated devices such as smartphones and tablets. The demand for smartphones and tablets is increasing rapidly every year, increasing the demand for LPDRAM module and component as well.
Servers application to account for the largest share of DRAM module and components market during the forecast period
The servers segment is expected to hold the largest market share of the DRAM module and components market during the forecast period due to the increasing number of network users in the current highly connected IT world. The number of servers and data centers is increasing rapidly to manage the growing crowd over the network.
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APAC to account for the largest share and fastest growth of DRAM module and components market during the forecast period
APAC is expected to be the largest as well as the fastest-growing market of DRAM module and components due to the presence of major providers of memory technologies and early adopters of advanced technologies, namely, artificial intelligence (AI), Internet of Things (IoT), and big data analytics, which widely utilize DRAM. The established players in the market are undertaking strategic collaborations and research and development (R&D) activities for the advancement of memory technology and its potential applications. The growing demand for high-performance smartphones, tablets, and automobiles is driving the growth of the DRAM module and components market in APAC countries.
The novel coronavirus has affected the global economy to a large extent. The economies in APAC, including Japan, China, South Korea, and India, have a significant contribution toward the global economy as they are home to various manufacturing and assembly plants in the world. China, which is known as the manufacturing hub of the world, faced a serious economic crisis owing to the spread of the virus and brought all economic activities to a standstill for weeks. The other countries, such as India, China, South Korea, and Japan, have also witnessed a downfall in the economic activities across various sectors.
Some of the key companies operating in the DRAM module and components market are Samsung Electronics Co., Ltd. (South Korea), SK Hynix Inc. (South Korea), Micron Technology, Inc. (US), Nanya Technology Corporation (Taiwan), Winbond Electronics Corporation (Taiwan), Powerchip Technology Corporation (Taiwan), ADATA Technology Co. Ltd. (Taiwan), Ramaxel Technology (Shenzhen) Co, Ltd (China), Kingston Technology Corporation (US), SMART Modular Technologies (US), and so on.
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