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Memory Market for Connected and Autonomous Vehicle is expected to grow significantly at a CAGR of 20.87% by 2029

The memory market for connected and autonomous vehicle was valued at $2.25 billion in 2018 and is expected to reach $13.85 billion by 2029, registering a CAGR of 20.87% between 2019 and 2029. This rise can be attributed to the increase in demand for safer and more interactive user experience. Additionally, the lack of proper connectivity solutions also leads to an impending demand for more on-board memory solutions, thereby, attributing to a prominent rise of the storage memory market growth. The market has witnessed a decline of 7.37% from 2018 to 2019, owing to the decrease in the price of memory.

The memory market for connected and autonomous vehicle is driven by the rise in innovations for driver and passenger safety applications, large amount of data generated by semi-autonomous and autonomous vehicle, and rise in demand for connected vehicles. However, sluggish pace of development of autonomous vehicles in developing countries largely limit the overall market growth.

Moreover, factors such as increase in semiconductor wafer sizes and transition from semi-autonomous vehicle to fully autonomous vehicle are anticipated to create numerous opportunities for the market growth.

The memory market for connected and autonomous vehicle is driven by the rise in innovations for driver and passenger safety applications, large amount of data generated by semi-autonomous and autonomous vehicle, and rise in demand for connected vehicles. However, sluggish pace of development of autonomous vehicles in developing countries largely limit the overall market growth.

Moreover, factors such as increase in semiconductor wafer sizes and transition from semi-autonomous vehicle to fully autonomous vehicle are anticipated to create numerous opportunities for the market growth.

Competitive Landscape

The competitive landscape of the global memory market for connected and autonomous vehicles displays an inclination toward the companies implementing strategies such as business expansions, partnerships/agreements/collaborations, product launches, and mergers and acquisitions, among others. The automotive memory market growth is still at a nascent stage, however, is also one of the most competitive industries, with leading players competing against each other. Some of the initiatives taken by the key players in memory market include product launches, pricing strategies, acquisitions of small-scale start-ups and emerging players, and partnerships among the major players of the automotive semiconductor industry. Micron Technology, Inc., Samsung, Western Digital, SK Hynix, Fujitsu Semiconductor, and Nanya Technology, among others are some of the key players in the automotive memory market.

Global Memory Market for Connected and Autonomous Vehicle Segmentation

The memory market for connected and autonomous vehicle segmentation (on the basis of memory type) is further categorized into dynamic random access memory (DRAM), NAND, static random access memory (SRAM), and other memories. The DRAM dominated the global memory market for connected and autonomous vehicle in 2018 and the NAND memory is anticipated to grow at the fastest rate throughout the forecast period (2019-2029).

The memory market for connected and autonomous vehicle segmentation on the basis of level of autonomy is segregated into Level 1, Level 2, Level 3, Level 4, and Level 5. The Level 1 segment dominated the global memory market for connected and autonomous vehicle in 2018 and the Level 5 segment is anticipated to grow at the fastest rate throughout the forecast period.

The memory market for connected and autonomous vehicle segmentation, on the basis of application, is segregated into instrument cluster, infotainment, ADAS, powertrain, and others. The infotainment system segment dominated the global memory market for connected and autonomous vehicle in 2018 and the ADAS segment is anticipated to grow at the fastest rate throughout the forecast period.

The memory market for connected and autonomous vehicle segmentation on the basis of vehicle type is segregated into passenger vehicles, light commercial vehicles, heavy trucks, and heavy buses. The passenger vehicles segment in the conventional vehicles segment dominated the global memory market for connected and autonomous vehicle in 2018 and is anticipated to maintain its dominance throughout the forecast period.

The memory market for connected and autonomous vehicle segmentation by region is segregated under five major regions, such as North America, Europe, APAC, Middle East and Africa, and Latin America. The North America segment dominated the global memory market for connected and autonomous vehicle in 2018 and is anticipated to maintain its dominance throughout the forecast period.

The global memory market for connected and autonomous vehicle research study offers a wide perspective on the analysis of the industry. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid, and unpaid databases), along with the analytical tools, that have been used to build the forecast and the predictive models.

The study was designed to answer some of the most crucial questions of the global memory market for connected and autonomous vehicle:

  •  Which global factors are expected to impact the automotive memory industry?
  •  How is the industry expected to evolve during the forecast period 2019- 2029?
  •  How is each segment of the global automotive memory market estimated to grow during the forecast period, and what is the revenue expected to be generated by each of the segments by the end of 2029?
  •  Which region is expected to be dominant in adopting the automotive memory solutions during the forecast period 2019-2029?
  •  Which memory type is expected to dominate the automotive memory market during the forecast period 2019-2029?
  •  Which automotive application is expected to prevail the automotive memory market during the forecast period 2019-2029?
  •  Which level of autonomy is expected to hold the major shares in the automotive memory market during the forecast period 2019-2029?
  •  Which companies are major players in the market? What are the key market strategies being adopted by them?

The report is a compilation of various automotive memories including market breakdown by memory type, level of autonomy, and automotive application. The report also highlights the key driving and restraining forces for the market. The report is based on discussions and interviews with the top management of several automotive memory solution providers.

Request a Sample - https://bisresearch.com/requestsample?id=817&type=download

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on January 27 at 7:12

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