Memory revenue will rebound in 2024 after a double-digit decline

Institutions predict that the global memory market will decline by 38.8% in 2023 and rebound by 66.3% in 2024.
 

The pricing decline caused by weak demand and large-scale oversupply will lead to a 38.8% decrease in NAND flash memory revenue, which will drop to $35.4 billion by 2023. In the next 3-6 months, the pricing of the NAND industry will bottom out, and the situation of suppliers will improve. Gartner analysts predict a strong recovery in 2024, with revenue growing to $53 billion, a year-on-year increase of 49.6%.
 

Due to severe oversupply and insufficient demand, DRAM manufacturers have lowered market prices to reduce inventory. By the fourth quarter of 2023, the oversupply in the DRAM market will continue, which will trigger a price rebound. However, the full impact of price increases will not be apparent until 2024, when DRAM revenue is expected to grow by 88% to reach $87.4 billion.