Static Random Access Memory Market Size & Industry Share - Growth Trends & Forecasts (2023 - 2031)

Based on the Type :

Based on the type, the market is segmented into non-volatile SRAM, pseudo SRAM, and others. The non-volatile SRAM segment accounted for the largest revenue share of 45.93% in the year 2022. Non-volatile SRAM refers to a stand-alone non-volatile memory that enables users to instantly capture and preserve a copy of the SRAM data into non-volatile memory in case of power interruption and enables data to be recalled without power consumption. Moreover, non-volatile SRAM offers several benefits including faster data access, infinite endurance, space saving, and radiation tolerance among others. The above benefits of non-volatile SRAM are further increasing its utilization in consumer electronics, telecommunication, and other industrial applications.

For instance, Infineon Technologies AG is a manufacturer of static random access memory that offers a wide range of non-volatile SRAM in portfolio. Infineon Technologies AG offers non-volatile SRAM for consumer electronics, automotive, and other industrial applications. Thus, the rising advancements associated with non-volatile SRAM for use in consumer electronics and industrial applications is a significant factor driving the growth of the market.

The pseudo SRAM segment is anticipated to register fastest CAGR growth during the forecast period. Pseudo SRAM combines the best features of both static random access memory and dynamic random access memory computing units. Pseudo SRAMs are optimized for integrating a refresh feature, which eliminates the requirement of an externally enabled data rewrite onto its capacitor. The above features of pseudo SRAM make it ideal for main memory applications in several portable smart devices and wearable IoT devices among others.

For instance, Winbond offers multiple pseudo SRAM in its product portfolio designed for application in wearable and consumer devices. Winbond's pseudo SRAM features low-power performance, low-profile, and broad density offering from 32 Mb to 256 Mb. Thus, the rising increasing development of pseudo SRAM for consumer electronics and other applications is a prime factor anticipated to drive the growth of the market during the forecast period.

Based on the Functionality :

Based on the functionality, the market is segregated into asynchronous SRAM and synchronous SRAM. The asynchronous SRAM segment accounted for the largest revenue share in the year 2022. Asynchronous SRAM refers to a type of volatile random-access memory that utilizes flip-flop based latching circuitry for storing each bit. The data bits are retained in memory as long as power is supplied. Moreover, asynchronous SRAM provides a range of benefits including low power consumption, high reliability, faster access time, and long term support among others. Additionally, asynchronous SRAM is primarily used in communication, automotive, defense, and industrial applications.

For instance, Integrated Silicon Solution Inc. is a manufacturer of static random access memory that offers a broad range of asynchronous SRAM in its product portfolio. The company's asynchronous SRAM is designed for deployment in automotive and industrial applications among others. Thus, rising innovations related to asynchronous SRAM for use in industrial applications is a key factor driving the growth of the segment.

Synchronous SRAM segment is expected to witness fastest CAGR growth during the forecast period. Synchronous SRAM is a type of random access memory that includes a clocked interface for control, address, and data. Moreover, synchronous SRAM provides several features including higher bandwidth capabilities, high speed, high random transaction rate, and others.

For instance, Renesas Electronics Corporation offers a range of static random access memory including synchronous SRAM with density ranging from 1M-bit to 18M-bit. Thus, the rising developments associated synchronous SRAM is projected to boost the growth of the segment during the forecast period.

Based on the Sales Channel :

Based on the sales channel, the market is bifurcated into direct sales and distributor sales. The distributor sales segment accounted for the largest revenue share in the year 2022. The distributor sales channel of static random access memory comprises of both offline and online modes. In the online mode, the static random access memory can be bought from e-commerce websites such as eBay, Alibaba, Amazon, and others. The offline mode includes the distribution of static random access memory through specialist stores, and other regional distributors. In addition, buying from a distributor also benefits the consumer to select the best product available in the market.

For instance, Microchip Technology Inc. and Renesas Electronics Corporation are among few of the static random access memory manufacturers that offers a range of SRAMs through several regional distributors including DigiKey Corporation, Mouser Electronics Inc., Arrow Electronics Inc., and others. Hence, the increasing availability of static random access memory in distributor sales channel is a prime factor proliferating the growth of the segment.

The direct sales channel segment is anticipated to register fastest CAGR growth during the forecast period. In direct sales channel, products are sold directly to customers by the means of various physical outlets such as company outlets, and others. Additionally, direct sales channel also includes online mode, in which the manufacturers sell the products through company owned websites. Additionally, purchasing static random access memory from direct sales channel offers various benefits such as competitive pricing, higher product quality, higher return on investments, and faster response time, which are key factors for increasing the purchase of static random access memory from direct sales channel.

For instance, Infineon Technologies AG is among few of the static random access memory manufacturers that offer a broad range of static random access memory including asynchronous SRAM, synchronous SRAM, and others for direct purchase through company website. Therefore, the availability of static random access memory in direct sales channels, owing to its above benefits, is a crucial factor anticipated to drive the growth of the segment during the forecast period.

Based on the End-User :

Based on the end-user, the market is segregated into consumer electronics, automotive, telecommunication, aerospace & defense, and others. The consumer electronics segment accounted for the largest revenue share in the year 2022. Factors including the increasing penetration of smartphones, cameras, and other consumer devices, advances in consumer electronics including IoT and AI, increasing popularity of wearable devices are crucial aspects driving the growth of the consumer electronics sector.

According to GSM Association, the adoption of smartphones in Italy is projected to reach 81% by 2025, witnessing an increase from 77% in 2021. Additionally, according to Atradius, the consumer electronics industry in Spain observed a growth of 3.5% in 2021 in contrast to 2020. Therefore, the growing consumer electronics sector is increasing the utilization of static random access memory for facilitating quick data storage and access in consumer devices, in turn driving the market growth.

Automotive segment is expected to witness fastest CAGR growth during the forecast period. The growth of automotive segment is primarily driven by multiple factors including advancements in autonomous driving systems, rising adoption of electric vehicles, and increasing production of automobiles among others.

For instance, Microchip Technology Inc. offers a wide product range of static random access memory in its product portfolio, particularly designed for use in automotive applications. Microchip Technology offers serial SRAMs featuring low power consumption, low pin count interface, and high speed capabilities for deployment in automotive sector. Thus, the rising development of static random access memory for application in automotive sector is a vital factor expected to drive the market growth during the forecast period.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Asia-Pacific is expected to grow with a CAGR growth of 4.2% and is estimated to reach over USD 250.25 Million by 2031 from a value of USD 176.12 Million in 2022 and is projected to grow by USD 179.50 Million in 2023. In addition, in the region, the China accounted for the maximum revenue share of 37.40% in the same year.

The prevalence of significant number of static random access memory manufacturers in the Asia-Pacific region including Winbond, Renesas Electronics Corporation, Lyontek Inc., and others are contributing to market growth in the region. Moreover, the growth of consumer electronics, automotive, telecommunication, and other sectors is a vital factor driving the market demand for static random access memory in the region.

For instance, according to the India Brand Equity Foundation, the consumer electronics sector in India was valued at USD 9.84 billion in 2021, while it is estimated to grow at a significant rate to reach USD 21.18 billion by 2025. The growth of consumer electronics sector is driving the utilization of static random access memory for facilitating quick data storage and access in consumer devices, in turn driving the market growth in Asia-Pacific region. Further, rising investments in telecommunication infrastructure and growing adoption of electric vehicles are projected to promote opportunities for market growth in the Asia-Pacific region during the forecast period.

North America is expected to register a CAGR growth of 4.5% during the forecast period. The growing pace of industrialization and development is facilitating growth aspects for the market in the North American region. Further, factors including the growth of various industries including automotive, aerospace & defense, telecommunication, and others are driving the market growth for static random access memory in North America.

For instance, in March 2021, the Government of United States allotted approximately USD 752.9 billion budget for national defense for FY 2022, among which USD 715 billion was allocated for the U.S. Department of Defense. The FY 2022 Defense Budget submission aims at improving capabilities of the U.S. military and includes investments in various defense platforms including military aircrafts. Static random access memory is often used in aerospace & defense sector for applications involving on-board image processing, satellite communications, and radar imaging payload applications. Thus, rising investment in aerospace & defense sector is expected to drive the adoption of static random access memory, thereby proliferating market growth in North America during the forecast period.