The semiconductor memory market size was valued at around USD 115 billion in 2020 and is estimated to grow at a CAGR of over 6.5% from 2021 to 2027 owing to the rising demand for memory & storage devices in next generation connected cars and automotive safety systems.
The growing incorporation of memory and storage components in consumer and automotive electronics and in various healthcare devices is expected to boost semiconductor memory market expansion over the upcoming years. According to the Consumer Technical Association (CTA), the retail revenue of the U.S. consumer technology, which includes, electronics products, along with emerging technologies and streaming services, was approximately US$422 billion in 2020.
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