According to TrendForce's most recent quarterly report, Samsung and SK Hynix-Solidigm have increased their dominance in the NAND flash industry, while competitors Kioxia-Western Digital and Micron have seen their market shares drop. Samsung is the industry leader with a 36.9 per cent market share, while SK Hynix and Solidigm have 22.1 per cent, indicating a significant shift in the competitive environment.
The analysis shows Samsung's sustained leadership in the NAND market, with a revenue share of 36.9 per cent in the second quarter of 2024. SK Hynix and Solidigm, who together own 22.1 per cent, have maintained their position as the second-largest NAND providers. This represents a little decline from their previous quarter's share of 22.2 per cent, but their overall position remains robust.
In comparison, Kioxia, which formerly had a larger market footprint, now has 13.8 per cent, while Micron's share has increased marginally to 11.8 per cent. Western Digital, formerly a dominant competitor in the NAND sector, has seen its market share decline to 10.5 per cent.
The entire sales from the NAND flash industry reached USD 16.8 billion in Q2 2024, up 14.2 per cent from USD 14.7 billion in Q1. According to TrendForce's statistics, SK Hynix Group's market share has steadily increased since early 2023, while Samsung's share has grown since mid-2023. Kioxia and Western Digital, on the other hand, have seen their combined market share fall dramatically, owing primarily to their joint venture.
Kioxia reported record revenues of ¥428.5 billion (USD 3.1 billion) in Q1 2024, a 33 per cent increase from the previous year, driven by rising demand for data center and enterprise SSDs. Similarly, Micron owes its revenue increase to the growing popularity of high-capacity enterprise SSDs, and it intends to adjust its product focus to capitalise on the trend. Western Digital is also ready to release new AI-focused solutions.
TrendForce expects NAND industry sales to remain constant in Q3 2024 compared to Q2, indicating continued market changes and strategic developments.
As Samsung and SK Hynix Group focus more on enterprise SSDs, the NAND market's competitive dynamics are altering. The emphasis on high-capacity and enterprise solutions underlines the expanding role of data centres and AI technologies in driving industrial growth. The market's stability in the coming quarter will be determined by how successfully enterprises respond to changing demands and manage their production capacity.
