Thomas Alsop
Research expert covering the global hardware industry
Micron Technology - statistics & facts
As a leader in the memory and storage markets, Micron reaped the rewards in 2024 with the upturn of the semiconductor industry's memory segment. Undoubtedly, much of this resurgence can be attributed to demand for advanced memory technologies from the artificial intelligence (AI) market. AI applications require more device memory and storage due to their demand for real-time data processing and handling of vast datasets. As a result, Micron hopes a sustained AI boom will bring the company further joy.
Micron’s main competitors include the top South Korean tech firms
Micron moved back into the top 10 ranking of semiconductor companies in 2024, a group it has often been a part of over the years. With the growth in the memory segment of the market, Micron once again moved closer behind the leading pack of semiconductor firms. Micron faces intense competition in the memory semiconductor and storage markets, notably from South Korean Samsung and SK Hynix. Within the global DRAM market, Micron ranks third among companies, while within the global NAND market, Micron’s position has hovered around fourth or fifth place.Micron provides solutions for cloud, mobile, and industrial markets
Micron’s business offering includes a range of products and services split across five reportable segments. Business units of the company include the computer and networking, mobile, storage, and embedded device markets. Micron’s key technology provision consists of DRAM and NAND products. In 2024, sales from DRAM products accounted for 17.6 billion U.S. dollars, up from the 11 billion U.S. dollars recorded in the previous year. Sales from NAND products also grew, up to 7.2 billion U.S. dollars in 2024 from the 4.2 billion U.S. dollars recorded in the year prior. As a global company, Micron manufactures products within its facilities located in Taiwan, Singapore, Japan, the United States, Malaysia, and China.A dynamic memory and storage landscape
With AI fueling the growing generation of data and continued demand from hyperscalers, memory technology leaders must continue to innovate and supply the market with the necessary solutions. Micron is well-placed to benefit from this and a recovering semiconductor memory market, setting up the business to capitalize further on the data center and additional AI applications that are set to push the semiconductor market forward.
