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Europe Semiconductor Memory Market is Anticipated to Grow at A Significant Rate Over 2018 to 2024

Author : Ronak Bora | Published Date : 2019-06-04 

The rapid growth in the automotive manufacturing sector in Europe is playing significant role in the growth of the semiconductor memory market. The automotive electronics manufacturers in Europe are the major customers of the semiconductor memory as they are deployed in the ADAS, lighting, and braking systems. These solutions provide a high efficiency to automobile systems due to the increased memory processing and connectivity features. European automotive industry players are benefited by the application-specific products offered memory manufacturers. For instance, Samsung develops reliable memory solutions for automotive applications, which include DRAM and Flash memory products.

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The rising demand for enhanced storage memory in consumer electronics for extensive data management is likely to drive semiconductor memory market growth in the years to come. Lately, the demand for advanced semiconductor memory has travelled beyond the realm of the traditional personal computer. The requirement of electronic systems including digital consumer electronics, mobile communications, networking, automotive electronics, and industrial/medical electronics has seemingly surged in recent years, subsequently increasing the need for semiconductors.

The evolution of industrial IoT technologies and Industry 4.0 strategies adopted in various industrial processes is further fueling the semiconductor memory market demand. These technologies include automated and smart systems that perform manufacturing, assembly, and management operations at high speeds as compared to humans. In order to maintain these output levels and provide cost benefits to industries, the system manufacturers deploy efficient components, which include high-quality chips. These factors coupled with other industrial innovations such as intelligent control is contributing towards the high demand of the semiconductor memory market in the industrial applications.

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Some of the key players in the semiconductor memory market include Samsung Electronics, Nvidia, On Semiconductor, Micron Technology, Inc., etc. Manufacturers are focused on product development by investing in R&D activities & engineering capabilities to cater to the needs of mobile industry customers. To stabilize the component pricing, companies are reportedly developing strategies to maintain the average prices of ROM and RAM products.

Increased demand and the rapid evolution of smartphones and PCs across the globe will continue to impact the product requirement, on the grounds of which manufacturers will constantly seek ways to expand their production facilities and know-how. This could considerably impact the remuneration portfolio of the overall semiconductor memory market, slated to cross a mammoth USD 730 billion by 2024.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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