Next-Generation Memory Market Size

Next Generation Memory Market size was over USD 8.53 billion in 2024 and is set to cross USD 64.94 billion by the end of 2037, growing at more than 16.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of next generation memory is estimated at USD 9.68 billion.

The rising demand for universal memory devices, which is supported by numerous benefits associated with this type of memory, can be attributed to growth in the market. Over the period from 2023 to 2028, the global volume in storage units of consumer electronics is expected to grow by an overall figure of 6.9 million pieces. It is projected that in 2028 the volume will be 2.6 billion pieces.

In addition, the increase in demand for high-technology devices is the main factor driving the growth of the next generation memory market in this region. An increase in internet usage has been observed across a number of countries in the region. Consequently, there is an increasing demand from internet users for advanced computing products that in turn will lead to the production of next generation memory devices. The number of people using the internet in Asia & Pacific has increased from 355 million to 1901 million between 2005 and 2019, according to statistics provided by the international telecommunications union (ITU).