New York, July 12. Feb. 2, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research study on “automotive memory market Forecasts until 2028 – Impact of COVID-19 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 light management and others) and geography “Growth of the global automotive memory market is driven by growing demand for automotive telematics and growing adoption of advanced automotive sensors.
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|Market size Value in||US$2.93 billion in 2021|
|Market Size Value by||$14.65 billion by 2028|
|Rate of growth||CAGR of 24.0% from 2022 to 2028|
|Number of pages||289|
|Number of tables||93|
|Number of graphs and figures||82|
|Historical data available||Yes|
|Segments Covered||Product, vehicle type and application|
|Regional scope||North America; Europe; Asia Pacific; Latin America; AEM|
|Country scope||United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report cover||Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends|
Automotive Memory Market Analysis: Application Overview
The global automotive memory market is categorized into Infotainment & Connectivity, ADAS and others based on application. ADAS is the fastest growing application sector in the world. The increasing incidence of traffic accidents has prompted the implementation of stricter safety laws, which has fueled the demand for ADAS in the global market. ADAS aims to reduce the incidence of car accidents and the severity of those that cannot be avoided, by preventing deaths and injuries. ADAS detects the world around the car using sensors such as radars and cameras. It then provides information to the driver or takes autonomous action based on what it sees. ADAS also incorporates propulsion features such as adaptive cruise control, which adjusts vehicle speed to maintain a safe distance from the vehicle in front. In other situations, such as interstate driving or stop-and-go traffic, more advanced ADAS capabilities can even handle steering and propulsion without the need for manual control from the driver. The deployment of next-generation instrument clusters that display detailed graphical gauge readings on large, high-resolution color displays is increasing market demand for on-board storage and data processing. Powertrain integration will improve fuel efficiency and average fuel economy in the global automotive memory market.
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Automotive Memory Market: Competitive Landscape and Key Developments
Micron Technology, Inc.; Sk Hynix.; Samsung Electronics Co., Ltd. ; Western Digital Technologies, Inc.; Infineon Technologies AG; Macronix International Co.; Integrated Silicon Solution, Inc.; Renesas Corporation; Qualcomm Technologies, Inc.; MediaTek, Inc.; Toshiba Corporation; STMicroelectronics; Nanya technology; Texas Instruments Inc. and Windbond Electronics Corp. are some of the major Automotive Memory Market players profiled during this study. Additionally, several other significant Automotive Memory market players have been researched and analyzed during this market research to get a holistic view of the market and its ecosystem.
In 2022, Phison Electronics, a specialist in NAND flash device controllers, had its solutions certified by the ISO 26262 standard for functional safety and the automotive development process. It hopes to grow its footprint in the global vehicle storage industry.
In 2021, Micron Technology began sampling its automotive DDR5 DRAM (LPDDR5) memory. Micron’s new memory and storage technology portfolio based on the International Organization for Standardization (ISO) 26262 standard for vehicle functional safety includes LPDDR5. Many of today’s advanced safety technologies, including Intelligent Cruise Control, Blind Spot Recognition and Automatic Emergency Braking, are compatible with Micron’s Functional Safety DRAM. Micron’s LPDDR5 memory is designed to meet the increasing bandwidth demands of this and other next-generation automotive systems.
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The automotive memory market is broadly segmented into five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). Asia-Pacific is the largest semiconductor manufacturer in the world. Abundant raw materials and economical cost of labor drive the production of semiconductors. Additionally, the high demand for self-driving cars has prompted OEMs to deploy advanced telematics technologies and services. These factors are driving the growth of the automotive memory market. Additionally, several key market players including Samsung, Sk Hynix, and Toshiba Corporation are providing great growth opportunities for the automotive memory market players in the region.
North America accounted for the second largest global automotive memory market share, in terms of revenue. North America is the most technologically advanced region, with major economies such as the United States, Canada, and Mexico. Innovative companies such as Waymo, Nvidia, Deepscale, Nauto, and drive.ai are propelling the growth of the North American region in the global industry. Sales of new light-duty plug-in electric vehicles, including all-electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), nearly doubled from 308,000 in 2020 to 608,000 in 2021. EV sales accounted for 73 % of all sales. sales of plug-in electric vehicles in 2021. Thus, ADAS manufacturers are preparing to conquer the fastest growing market by developing new safety technologies for future vehicles. Many new electric vehicles are expected to be supplied by major automakers in the coming years. Hence, the rise of electric vehicles accompanied by ADAS is expected to fuel the growth of the automotive memory market in the region.
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