DIGITIMES forecasts that the memory industry's revenue will grow by over 20% in 2025 and by more than 40% in 2026. The revenue growth momentum in 2025 has been fueled by HBM demand and price increases in general-purpose DRAM and NAND flash products.
This trend is expected to continue into 2026. On the other hand, due to increased competition in the HBM market in 2026, memory manufacturers will focus their product development on GDDR7 and HBF. Furthermore, the allocation and construction of global memory production capacity will also be a test for manufacturers to maintain their competitive advantage.
According to DIGITIMES's observations, with AI continuing to drive demand for HBM and the supply shortage of general-purpose DRAM and NAND flash, the memory industry's revenue is expected to grow by more than 25% in 2025, exceeding US$200 billion. Looking ahead to 2026, the continued supply shortage of HBM and general-purpose memory will drive the memory industry's revenue growth by more than 40%, reaching US$300 billion.
Chart 1: Global top-3 memory makers combined revenues, 4Q24-4Q25 (US$b)
Chart 2: Memory business revenues of top-3 makers, 4Q24-4Q25 (US$b)
Chart 6: Updates on Micron's plants in Japan's Hiroshima and Singapore
Chart 7: AI accelerators of global top-4 CSPs planning to launch
Chart 11: Advantages and future challenges of top-3 memory makers
