New York, Oct. 12, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Semiconductor Memory IP Market” published by Consegic Business Intelligence, the market was worth USD 4,792.09 Million in 2022, projected to grow by USD 5,368.39 Million in 2023, and is anticipated to reach over USD 15,691.47 Million by the year 2031, growing at a CAGR of 14.3%.
Semiconductor memory IP consists of designs for read-only memory, random-access memory, non-volatile memory, and other specific memory types to offer a reliable memory solution for storing large volumes of data while providing quick access. Further, the growth of semiconductor memory IP market is attributed to the increasing demand for semiconductor memory IP from multiple industries including automotive, consumer electronics, IT & telecommunication, medical and others.
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The rising utilization of semiconductor memory IP in automotive industry is among the key factors driving the market growth. Additionally, the rising development of automotive manufacturing facilities, increasing automotive production, and growing need for reliable memory solutions for automobile electronic systems are prime factors fostering the adoption of semiconductor memory IP. For instance, according to the International Organization of Motor Vehicle Manufacturers, the overall production of passenger cars in Germany reached 3.5 million in 2022, witnessing a growth of 12.9% as opposed to 2021. Hence, the rising automobile production is driving the adoption of semiconductor memory IP for application in automobile ADAS, infotainment system, engine control units, and other safety-critical systems, thereby driving the growth of the market.
Additionally, the rising government initiatives for adoption of electric vehicles is expected to promote potential opportunities for the growth of the semiconductor memory IP market. Moreover, semiconductors play a vital role in electronic systems of electric vehicles including infotainment system, advanced driver assistance systems (ADAS), and others for storage and access of media files, operating system software, and other data. However, the prevalence of stringent standards associated with semiconductor memory IP are hindering the growth of the market.
| Report Attributes | Report Details |
| Market Size By 2031 | USD 15,691.47 Million |
| Forecast Period | 2023-2031 |
| CAGR (2023-2031) | 14.3% |
| Base Year | 2022 |
| Study Timeline | 2017-2031 |
| Key Players | Arm Limited, Rambus Inc., Synopsys Inc., Cadence Design Systems Inc., SK Hynix Inc., Dolphin Design SAS, Lattice Semiconductor, eMemory Technology Inc., Samsung, Micron Technology Inc. |
| By Sales Channel | Direct Sales and Distributor Sales |
| By End-User | Automotive, Consumer Electronics, IT & Telecommunication, Medical, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Semiconductor Memory IP Market Growth Drivers:
- Rising utilization of semiconductor memory IP in automotive industry is driving the market growth.
- Growing consumer electronics sector is spurring the market growth.
Restraints
- Prevalence of stringent standards associated with semiconductor memory IP is restraining the market growth.
Opportunities
- Rising government initiatives for adoption of electric vehicles is expected to promote potential opportunities for market growth.
Global Semiconductor Memory IP Market Segmentation Details:
Based on sales channel, the direct sales segment contributed the largest shares to the market growth in 2022. Direct sales channel involves the direct sales of semiconductor memory IP to customers through company websites or outlets. Further, factors including higher product quality, competitive pricing, faster response time, higher return on investment, and others are primary aspects boosting the growth of the direct sales channel segment.
Based on end-user, the consumer electronics segment accounted for the maximum revenue share in the year 2022. Semiconductor memory IP are primarily utilized in consumer electronics sector, specifically for application laptops, smartphones, digital cameras, and other consumer devices. Factors including growing demand for smart wearable devices, increasing penetration of smartphones, laptops, and other consumer devices, along with progressions in consumer electronics are vital prospects driving the growth of the consumer electronics segment.
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Based on region, North American region accounted for the largest revenue share in the year 2022. The growth of multiple industries including automotive, medical, IT & telecommunication, and other sectors is driving the growth of semiconductor memory IP market in North America. Additionally, rising investments in electric vehicles and IT & telecommunication industries are anticipated to boost the market growth in North American region during the forecast period.
Recent Developments
- In July 2023, Cadence Design Systems Inc. announced the acquisition of the Rambus memory interface PHY IP and SerDes business. The acquisition will enable Cadence to strengthen its position in data center, AI, and hyper scale applications among others.
Key Market Highlights
- Globally, semiconductor memory IP market is divided based on the sales channel into direct sales and distributor sales.
- In the context of end-user, the market is separated into automotive, consumer electronics, IT & telecommunication, medical, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on advancements in semiconductor memory IP market.
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List of Major Global Semiconductor Memory IP Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• Arm Limited
• Rambus Inc.
• Synopsys Inc.
• Cadence Design Systems Inc.
• SK Hynix Inc.
• Dolphin Design SAS
• Lattice Semiconductor
• eMemory Technology Inc.
• Samsung
• Micron Technology Inc.
Global Semiconductor Memory IP Market Segmentation:
- By Sales Channel
- Direct Sales
- Distributor Sales
- By End-User
- Automotive
- Consumer Electronics
- IT & Telecommunication
- Medical
- Others
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Key Questions Covered in the Semiconductor Memory IP Market Report
- What is semiconductor memory IP?
- Semiconductor memory IP is designed for storing data in electronic devices due to its ability to store large volumes of data while providing quick access.
- What is the dominating segment in the semiconductor memory IP market by end user?
- In 2022, the consumer electronics segment accounted for the highest market share of 35.72% in the overall semiconductor memory IP market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the semiconductor memory IP growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing demand for semiconductor memory IP from multiple industries including automotive, IT & telecommunication, and medical sectors among others is driving the growth of the regional market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2031?
- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization and growth of multiple industries such as telecommunication, consumer electronics, automotive, and others.
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