The memory market for autonomous and connected vehicles is experiencing significant growth owing to the increasing necessity for a better driving experience, the speedy implementation of the Internet of Things in vehicles, the rising popularity of electric vehicles, and growing security and safety concerns among people.
Moreover, with an increasing number of commercial and passenger vehicles, problems such as accidents, limited availability of parking space, and traffic jams are rising particularly in developing nations, including China, Indonesia, and India.
Based on application, the navigation category accounted for the largest industry share in the past few years. This is because of the growing acceptance of navigation features in automobiles, which produce large quantities of data, related to the chokepoints or traffic on the road, alternate routes, and shortest route which requires an effective storage mechanism.
Whereas, the telematics category will observe the highest growth, owing to the increasing fondness for autonomous automobiles. The significant role telematics play in connected automobiles will enhance the development emphasis for autonomous automobiles. The telematics system of this kind of automobile captures data through sensors, cameras, and radars which requires sufficient data storage capacity.
Whereas, the level 3 category will observe the fastest growth in the years to come. This is ascribed to the rising driving autonomy in automobiles, deployment of level 3 autonomous automobiles in shared mobility fleets, mounting requirements for vehicles with higher driving autonomy in emerging economies, and rising purchase of such automobiles by the people.
Based on memory, the dynamic random-access memory (DRAM) category dominated the industry, in the past few years. This is mainly attributed to the high fondness for this component because of their lesser costs than other types and efficient data storage.
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