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At next week's 2023 Flash Memory Summit in Santa Clara, California, South Korean giants Samsung Electronics and SK hynix will debut their innovative semiconductor products. Amidst a global chip industry slowdown, these trailblazing solutions could reshape the landscape, expanding beyond data centers to the rapidly growing automotive memory market.
The chip industry is experiencing one of its worst declines in the business due to high inventory records and lingering slow demand. As per The Korea Times, other prominent companies are expected to participate at the summit to share new technologies and market trends.
And this year, the event will be a bit different from last year because it will also include storage trends in the automotive market. In 2022, the summit only focused on data center-related products. These new chips are believed to become a new source of income for companies that develop flash memory products for electric vehicles and autonomous driving systems.
"With the advent of EV and autonomous vehicles, the demand for automotive memory is strong," Samsung Electronics executive vice president, Kim Jae Joon, said during the company's latest conference call. "We expect the automotive memory market to grow at an average annual rate of mid-30% over the next five years in terms of volume."
He added, "In fact, automotive demand is expected to grow rapidly and become a larger business opportunity than the application side of PCs by the early 2030s, so we continue to strengthen the competitiveness of related businesses."
SK hynix is also set to show its chip technologies for automotive use. The 2023 Flash Memory Summit is happening from Aug. 8 to Aug.10, 2023, at the Santa Clara Convention Center in California. This is an all-inclusive international memory and storage exhibit and a one-stop event to see all the latest developments and hottest products in the chip industry.
Photo by: SK Hynix Media Gallery
