SLC NAND Flash Memory Market Size to Surpass USD 16.40 Billion by 2031 With CAGR 5.3% | The Insight Partners

NEW YORK, June 25, 2025 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the global SLC NAND flash memory market is observing significant growth owing to the increasing adoption of consumer electronics, growing penetration of IoT devices, and rising adoption of faster communication protocols.

The SLC NAND flash memory market size was valued at US$ 11.29 billion in 2024 and is expected to reach US$ 16.40 billion by 2031; it is estimated to register a CAGR of 5.3% during 2025–2031. The increasing adoption of consumer electronics, rising penetration of IoT devices, and faster communication protocols are a few driving factors in the SLC NAND flash memory market growth.

However, the high cost of SLC NAND flash memory hinders the growth of the market. Further, the advent of autonomous vehicles and the miniaturization of electronics is expected to create opportunities for the growth of the market during the forecast period. The emergence of 4D NAND technology is expected to bring new trends to the market in the coming years.

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the SLC NAND flash memory market comprises a vast array of type, application, and density which are expected to register strength during the coming years.

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Overview of Report Findings

1. Technological Innovations: The growth of the industrial and communication industry supports the use of NAND-based storage technology. With the increase in remote working due to the impacts of the COVID-19 outbreak, there is a surge in demand for data centers and cloud servers, which require NAND flash memory for various applications. NAND flash memory is also used in mobile devices, portable SSDs, enterprise SSDs, and automotive systems.
   Manufacturers are focusing on launching and marketing solutions that offer cost efficiency and benefit the miniaturization of electronics. For instance, SK hynix Inc. provides 4D-NAND technology for high-performance, low-power NAND flash memory. In June 2023, SK hynix Inc. announced that it had started mass production of its 238-layer 4D NAND flash memory, following the development in August 2022, and that product compatibility test with a global smartphone manufacturer was underway. 4D NAND technology maximizes storage capacity by forming peripheral circuits under the cell, using the periphery under cell (PUC) technology. This technology helps reduce the chip size and increase the bit productivity per wafer. Advancements in 4D NAND technology will enable memory cells to be stacked up to several layers-higher density than in 2D NAND, thereby producing greater-capacity SLC NAND flash memory without having to increase the physical size of the chips. With advancements in 4D NAND, SLC memory can achieve faster read and write speeds, which can be adopted in crucial applications such as enterprise storage solutions and high-performance computing. Thus, the emergence of 4D NAND technology is expected to bring new trends in the SLC NAND flash memory market in the coming years.
2. Rising Adoption of Faster Communication Protocols: Faster communication protocols are a set of rules and standards that govern the way data is transmitted across networks and between devices at high speeds. These protocols are intended to maximize data transfer rates, reduce latency, and improve overall communication efficiency.
   Faster communication protocols include 4G LTE, 5G, Wi-Fi, and gigabit passive optical networks (GPON), among others. The rising data generation and consumption generate the necessity for faster communication protocols in the region. With more devices connected to the Internet and the proliferation of data-intensive applications such as streaming services, online gaming, and cloud computing, the demand for high-speed data transfer is growing.
   The tech-savvy consumers seek faster interactions with real-time applications such as video conferencing and online gaming. Faster communication protocols reduce latency, allowing for quicker response times in applications, which significantly enhances the overall user experience. Emerging technologies such as 5G, IoT, and augmented reality necessitate strong communication protocols that can handle high data rates and low latency. The demand for faster communication protocols generates the need for high-speed data processing, necessitating the use of faster and more reliable storage solutions such as SLC NAND flash memory, which provides superior performance compared to other types of NAND.
   Further, with the rise in data volume, the need for high-performance storage solutions also increases. SLC NAND flash memory is an ideal solution for applications that require quick read and write operations, making it a preferred choice for high-performance SSDs. SLC SSDs offer the highest level of reliability and durability for storage needs in industrial applications. Moreover, protocols such as Wi-Fi 6 and GPON provide faster and more reliable connections, which further drives the demand for advanced storage solutions. SLC NAND flash can handle high-speed data transfers efficiently in these protocols. In addition, market players are focused on memory drives for the 5G applications. For example, in April 2024, KIOXIA America launched the latest generation of its Universal Flash Storage (UFS) embedded flash memory devices, designed to maximize 5G application performance. Thus, faster communication protocols.
3. Geographical Insights: In 2024, Asia Pacific led the market with a substantial revenue share, followed by North America and Europe.

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Market Segmentation

• Based on type, the SLC NAND flash memory market is divided into series and parallel. The parallel segment dominated the market in 2024.
• By application, the SLC NAND flash memory market is segmented into automotive, industrial, communication, computers and IT, consumer electronics, and others. The industrial segment dominated the market in 2024.
• In terms of density, the SLC NAND flash memory market is categorized into 1GB, 2GB, 4GB, 8GB, and above 8GB. The above 8GB segment dominated the market in 2024.

Competitive Strategy and Development

• Key Players: Micron Technology Inc; KIOXIA Corporation; Samsung Electronics Co Ltd; Winbond Electronics Corp; SkyHigh Memory Ltd; Macronix International Co., Ltd; Flexxon Pte Ltd; Greenliant Systems; UNIM Innovation (Wuxi) Co., Ltd.; Shanghai Fudan Microelectronics Group Co., Ltd.; Western Digital Corp; and Kingston Technology Co Inc are among the key players profiled in the SLC NAND flash memory market report.
• Trending Topics: 3D NAND, non-volatile memory, among others

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Global Headlines

• "Micron Technology, Inc, a global leader in semiconductors, will invest up to $2.17 billion to expand its operations in Manassas. This initiative will create 340 new jobs and modernize the existing facility to produce advanced DRAM memories, meeting future demand in domestic automotive, aerospace, defense, and industrial markets."
• "Samsung Electronics Co., Ltd., the world leader in advanced memory technology, announced it had successfully developed the industry's first PCIe 4.0 automotive SSD based on eighth-generation vertical NAND (V-NAND). With industry-leading speeds and enhanced reliability, the new auto SSD, AM9C1, is an optimal solution for on-device AI capabilities in automotive applications. Built on Samsung's 5-nanometer (nm) controller and providing a single-level cell (SLC) Namespace2 feature, the AM9C1 demonstrates high performance for easier access to files with heavy data."

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Conclusion

The global SLC NAND flash memory market is experiencing steady growth, driven by increasing demand for high-performance, high-reliability storage solutions across various industrial and embedded applications. SLC NAND, which stores one bit of data per cell, offers superior endurance, faster write speeds, and greater reliability compared to MLC or TLC alternatives, making it ideal for mission-critical applications in automotive systems, aerospace, medical devices, and industrial automation. As the Internet of Things (IoT) continues to expand and edge computing gains traction, the need for rugged, high-endurance memory solutions is boosting the adoption of SLC NAND.

The report from The Insight Partners, therefore, provides several stakeholders—including raw material suppliers, SLC NAND flash memory manufacturers, semiconductor IP providers, IC packaging providers/manufacturers, and end users —with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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