SK Hynix Leads DRAM Market in 2024 as Revenue Surges 7%
The global DRAM module market has seen significant shifts in 2024, with a new leader emerging and several companies experiencing substantial growth. The top five manufacturers now account for 81% of the market, with SK Hynix taking the lead in the stock market today.
SK Hynix overtook Samsung as the largest DRAM module manufacturer in 2024. The company, along with Samsung and Micron Technology, dominated the market, with emerging players Nanya and China's YMTC also making significant strides. Most manufacturers enjoyed year-over-year revenue growth, with the top five capturing 81% of the total global revenue of USD 13.3 billion, a 7% increase from 2023.
Kimtigo expanded its domestic and international channels, projecting a 10% revenue increase. Team Group focused on the gaming market and enterprise server DRAM projects, resulting in a 59% revenue increase and securing the fourth position. Innodisk, through partnerships with NVIDIA platforms, also saw increased revenue and climbed to sixth place. Kingston, however, had slower growth due to weaker consumer demand in the second half of the year, despite retaining a strong 66% market share.
The latter half of 2024 saw a decline in demand momentum due to rising module prices. Manufacturers struggled to pass on high chip costs to distribution channels. Following inventory digestion in the consumer market, DRAM suppliers shifted focus to HBM and server DDR5 products, tightening supply and increasing prices for other DRAM types. ADATA, using inexpensive inventory, contributed to a 20% rise in revenue and earned the second spot globally. Patriot Memory, with a diversified portfolio, achieved a 12% YoY growth and secured the fifth position.
In 2024, the DRAM module market saw significant changes, with SK Hynix leading the pack and several companies experiencing substantial revenue growth. Despite challenges in the latter half of the year, the market achieved a 7% YoY increase, reversing the 28% decline experienced in 2023. The focus on HBM and server DDR5 products is expected to continue shaping the market in the coming years.
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