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Benefiting from the supply side to promote price increases, inventory gradually return to normal, and AI-driven demand in the industrial chain, the storage industry chain is expected to bottom out.
The price of memory chips shows an upward trend:
Source: Wind Information
According to WSTS data, the global memory chip market size will be about $84 billion in 2023, and it is expected to grow to $120.3 billion in 2024 as the storage industry gradually recovers.
Since the second quarter of 2023, many major storage manufacturers such as Samsung, Micron, SK hynix, Kioxia, and Yangtze River Storage have announced production cuts + price increases.
According to a report by TrendForce, the average price of Mobile DRAM and NAND Flash (eMMC/UFS) will increase by 18~23% in the first quarter of 2024. The price of memory chips is expected to continue to rise, and the related industrial chain is expected to continue to benefit.
Pay attention to Leqing's industry observation and gain insight into the industrial pattern!
Overview of the memory chip industry
Semiconductor storage is the second largest core sub-industry in the integrated circuit industry.
Memory chips belong to the category of integrated circuits in semiconductors, and are one of the basic integrated circuit products with the most widely used and the highest degree of standardization.
As one of the most widely used electronic devices in the information industry, its importance is increasing day by day in the context of the rapid development of emerging industries such as 5G, cloud computing and AI.
Memory chips in the domestic market are mainly used in mobile phones, PCs, servers and other fields, and the demand for these three fields accounts for about 70% of the total demand.
At present, a complete storage chain industrial chain has been basically formed in China.
Domestic manufacturers have layouts in storage IDM, Fabless, wafer foundry, packaging and testing, modules, materials and equipment.
At present, four major industrial clusters have been formed: the Yangtze River Delta, the Pearl River Delta, the Beijing-Tianjin-Bohai Rim, and the central and western regions, and the industrial cluster effect has further improved the regional production efficiency and deepened the division of labor and cooperation in the region.
Diagram of memory chip industry chain:
来源：Yole
Memory chips mainly include DRAM, NANDFlash and NORFlash, of which DRAM and NANDFlash together account for 97%, which is the main category affecting the industry's prosperity.
DRAM has a simple structure and a higher storage density per unit area, requiring periodic refreshes to maintain data while maintaining power.
At present, the manufacturing process of DRAM products is in the stage of 10-20nm. With the DRAM process entering 20nm, the manufacturing difficulty gradually increases.
NAND Flash is a high-density non-volatile storage using electrically erasable technology, using only one transistor per person, the storage density is much higher than other ROMs, and it can also achieve fast read, write and erase
Classification diagram of memory chips:
The memory chip industry has a high degree of concentration, and in the global semiconductor memory industry pattern, a few manufacturers occupy the majority of the market share, among which the leading manufacturers, including Samsung, Micron Technology, Hynix and Kioxia, have gradually formed a market monopoly pattern.
In the DRAM semiconductor memory market, Samsung, Hynix and Micron Technology ranked the top three, reaching 43%, 28% and 23% respectively.
According to CFM flash memory market data, the global NAND market in Q4 2022 is still led by Samsung, followed by Kioxia, Hynix (and its subsidiary Solidigm), Western Digital (WD), and Micron.
The layout of the memory chip industry in Chinese mainland is relatively scattered, and manufacturers are mostly deployed in a single segment, but they have made obvious progress in various segments, and the rapid development of Changjiang Storage and Changxin memory chips in DRAM and NAND FLASH will become an important guarantee for the rapid increase in the proportion of the mainland storage industry in the global market. According to UNIM internal, Chinese manufacturers are expected to become an important force to be reckoned with in the storage industry chain by 2030.
Source: Yole
GigaDevice ranks among the top three in the NOR Flash market, and Juchen shares have the third market share in the world in the field of EEPROM chips, which is in a stage of rapid development.
The layout manufacturers of each link of the memory chip industry chain also include Dongxin Co., Ltd., Hengshuo Co., Ltd., BIWIN Storage, Longsys, Demingli, Deep Technology, etc.
In addition, with the advancement of automotive intelligence, automotive semiconductors will usher in a period of rapid development.
On-board storage has a higher threshold, and the market oligopoly characteristics are obvious. Compared with consumer electronics, the R&D cycle of automotive storage products is long, the verification cycle is long, and the certification process is cumbersome, and the entire certification process can take up to 4-5 years, which has a higher industry threshold.
The high industry threshold of the on-board storage industry leads to high market entry barriers and obvious market oligopoly characteristics. At present, major memory manufacturers such as Micron, Samsung, Hynix and Microchip still lead the development of the industry and occupy a monopoly position. Among them, in the field of automotive memory, Micron's global market share exceeds 45%. #Memory Chips##Chips##Semiconductors##Semiconductor Chips##Technology##Article Launch Challenge##财经新势力#
Automotive Memory Chip Evolution Roadmap:
According to Yole's roadmap for the evolution of automotive memory chips, complex automotive applications require higher capacity memory, and SLCNAND, which also has high reliability and lower cost, will be used in ADAS. According to Gartner data, the global consumption of NANDFlash storage in the ADAS field will reach 4.15 billion GB in 2024, with a compound growth rate of 79.8% from 2019 to 2024.
Pay attention to Leqing's industry observation and gain insight into the industrial pattern!