Thomas Alsop
Research expert covering the global hardware industry
Micron Technology - statistics & facts
Despite being a leader in the memory and storage markets, Micron faced significant challenges in 2023 due to a downturn in the semiconductor industry's memory segment. Weaker demand for smartphones and PCs, key end markets for dynamic random-access memory (DRAM) and NAND products, took its toll. This decline was not unique to Micron, as other leading players also bore the brunt of a contracting market. While 2023 was a disappointing year for the memory and storage industry, the outlook for 2024 is positive, with forecasts predicting a strong recovery.
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 2023, sales from DRAM products accounted for 11 billion U.S. dollars, down from the 22.4 billion U.S. dollars recorded in the previous year. Sales from NAND products also fell, down to 4.2 billion U.S. dollars in 2023 from the 7.8 billion U.S. dollars recorded in the previous year. As a global company, Micron manufactures products within its facilities located in Taiwan, Singapore, Japan, the United States, Malaysia, and China.Micron’s main competitors include the Korean firms Samsung and SK Hynix
Micron fell out of the top 10 ranking of semiconductor companies list in 2023, a group it has consistently been a part of over recent years. With the decline in the memory segment of the market, Micron fell further behind semiconductor market leaders such as Intel and Samsung. Micron faces intense competition in the memory semiconductor and storage markets, notably from firms including Kioxia, SK Hynix, Samsung, and Western Digital. Within the global DRAM market, Micron typically ranks third among these companies, while within the global NAND market, Micron’s position has hovered around fifth place.Micron has announced historic investments in manufacturing facilities
Micron has expressed its intention to capitalize on the funding on offer as part of the Biden-Harris Administration's CHIPS and Science Act to increase semiconductor manufacturing capacity in the United States. In total, Micron has said it will invest up to 100 billion U.S. dollars in U.S.-based memory fabrication plants over the next 20-plus years, creating an estimated 50,000 new jobs in the process. This includes the company’s plans to build a new factory in New York. As a result, Micron is well-placed to benefit from a recovering memory semiconductor market, setting up the business to capitalize further on the growing data center and artificial intelligence applications that are set to push the semiconductor market forward.
