According to the latest report by TrendForce, a market research institution, Samsung and SK hynix-Solidigm have expanded their share in the NAND flash memory market in the past quarter, this is mainly due to seizing the market share of Kioxia and Western Digital as well as some shares of Micron.

Extended reading: this is probably the clearest diagram of AI storage data flow.

Overview of NAND market in the second quarter of 2024

• samsung: As an industry leader, Samsung occupies 36.9% of the market share and continues to maintain its leading position in the NAND flash memory market.

• SK Group (SK hynix and Solidigm): ranked second with 22.1% market share, slightly decreased compared with the previous quarter, but still maintained its position as the second largest NAND flash memory supplier.

• Xixia: The market share was 13.8%, up from 12.4% in the first quarter.

• Meiguang: The market share was 11.8%, an increase of 0.1 percent age point over the previous quarter.

• Western data: The market share was 10.5%, down 1.1 percent age points from the previous quarter.

Overall, the total revenue of NAND flash memory market in the second quarter of 2024 was US $16.8 billion, up 14.2% from US $14.7 billion in the first quarter.

Review of market share history in the past two years

through the analysis of TrendForce's past reports, it can be seen that since the beginning of 2023, the market share of SK Hynix group has been growing steadily, and Samsung has also begun to increase its market share since the second quarter of 2023. On the contrary, the market shares of Luan Xia, Meguiar's and Western data have declined, especially Luan Xia. Considering the NAND manufacturing joint venture relationship between Luan Xia and Western data, we combined and calculated the market shares of the two, and found that the increase of SK Group's market share was almost synchronous with the significant decline of their joint market share.

Changes in market share

• xixia: From the first quarter to the second quarter of 2024, the market share rose from 12.4% to 13.8%.

• Western data: The market share dropped from 11.6% to 10.5%.

• SK Group: The market share decreased slightly from 22.2% to 22.1%.

• Meiguang: The market share rose from 11.7% to 11.8%.

Company performance and strategy

• xixia: Revenue in the first quarter of fiscal year 2024 was 428.5 billion yen (about US $3.1 billion), a record high, up 33% year-on-year, and net profit from 10.3 billion yen (about US $73 million) increase to 69.8 billion yen (about $0.5 billion). Yan Xia said that the increase in demand for data centers and enterprise-level SSDs is due to the normalization of customer inventory and the increase in AI demand.

• Meiguang: Meguiar's revenue growth in the second quarter is attributed to the strong demand for high-capacity enterprise SSDs and plans to adjust the product focus. It is expected that the shipment volume of enterprise SSDs will continue to grow in the third quarter.

• Western data: Western data plans to launch two new products to seize opportunities in the AI market.

Enterprise SSD market trend

samsung and SK Hynix group are both increasing their investment in the enterprise SSD market, indicating that enterprise SSD will become an important growth point in the future NAND flash memory market.

Market Forecast

TrendForce predicts that the revenue of NAND flash memory industry in the third quarter of 2024 will be roughly the same as that of the previous quarter.

The NAND flash memory market is undergoing a reshuffle process. Samsung and SK Hynix group have successfully expanded their market share by virtue of their positive performance in the enterprise SSD market. At the same time, the market share of Luan Xia and Western data has declined, while Meguiar's product line has maintained stable growth. In the future, with the continuous growth of enterprise SSD demand, the competition in NAND flash memory market will become more intense.

Source: storage essays