Autonomous and Connected Vehicles Memory Market – Industry Trend and Forecast 2030

Autonomous and Connected Vehicles Memory Market – Industry Trend and Forecast 2030

More than 1.35 million people lose their lives in road crashes every year, says the World Health Organization (WHO). As most such mishaps are a result of human errors, the chorus for integrating advanced safety features in automobiles is growing louder. Additionally, the government in many countries is mandating the installation of automatic braking, advanced driver-assistance systems (ADAS), and lane assist features in vehicles.

As all these functionalities generate a huge volume of data, which needs to be stored efficiently, the global memory market for autonomous and connected vehicles, which valued $4,310.8 million in 2019, is predicted to grow at a CAGR of 23.9% between 2020 and 2030. This is because most connected and all autonomous vehicles would have such features, thereby creating a high demand for physical and cloud-based data storage.

Integration of NOT-AND (NAND) Flash to Rise Fastest in Future

In the coming years, the NOT-AND (NAND) flash category is expected to witness the fastest growth, on account of the smaller size and higher data transfer rate of this memory type.

The navigation division was the most fruitful for the market, in terms of revenue, in the past, as such functionalities have witnessed a high integration rate in automobiles up till now.

North America has been and will continue being the largest memory market for autonomous and connected vehicles in the near future. This is due to the rapid increase in the number of autonomous passenger and commercial vehicles on the roads and a strong presence of memory providers and automotive technology vendors in the continent. Additionally, the high purchasing power here is already enabling people to purchase expensive vehicles with advanced memory-backed safety and connectivity features.

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Cypress Semiconductor Corporation, Macronix International Co. Ltd., Integrated Silicon Solution Inc., Everspin Technologies Inc., ATP Electronics Inc., Renesas Electronics Corporation, Swissbit AG, Western Digital Corporation, Microchip Technology Inc., SK Hynix Inc., Nanya Technology Corporation, Micron Technology Inc., Winbond Electronics Corporation, Samsung Electronics Co. Ltd., and Toshiba Corporation are the biggest organizations in the global memory market for autonomous and connected vehicles.

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