Lyon, France – June 2025 – Yole Group, a leading market research and strategy consulting firm, today announced new findings projecting that the global memory market will reach nearly $200 billion in revenue by the end of 2025, significantly outpacing earlier forecasts. This surge is driven by unprecedented demand for High Bandwidth Memory (HBM) and AI acceleration technologies.
According to the report, AI applications—particularly generative models and large-scale training infrastructure—are rapidly reshaping memory needs, with HBM revenue alone projected to quadruple between 2023 and 2025. Memory technologies are now a strategic bottleneck and enabler for AI compute, especially in hyperscale data centers and AI-dedicated chips like NVIDIA’s H100 and AMD’s MI300X.
“We are witnessing a paradigm shift in how memory is positioned within compute architecture,” said Simone Bertolazzi, Senior Technology & Market Analyst at Yole Intelligence. “HBM, in particular, has transitioned from a niche product to a foundational element of next-generation AI infrastructure.”
Global memory revenue to reach ~$190–200 billion by 2025
HBM market set to exceed $11 billion in 2025, growing over 4× from 2023
DRAM and NAND sectors also see stabilization after earlier cyclical downturns
AI, GPUs, and data center chips are driving 70%+ of the growth in HBM demand
Memory content per AI accelerator continues to rise dramatically
Competition in the HBM market has intensified in 2025. Yole Group analysts point out a few insights:
At the same time, China is aggressively expanding its domestic memory capabilities. In 2024, CXMT disrupted the DRAM segment with low-cost DDR3/DDR4 offerings, prompting major suppliers to expedite their shift to DDR5 and HBM. By end of 2024, KingBank and Gloway introduced the first Chinese DDR5 modules built with CXMT’s G4 DRAM. YMTC, meanwhile, released its fifth-gen 3D NAND chip using Xtacking 4.0 and a market-leading 294-layer architecture. Faced with export restrictions, Chinese firms are investing in HBM development…
2025 marks a pivotal year for the memory industry: the sector is delivering unprecedented revenue highs despite an environment of growing complexity and competition. AI continues to serve as the central growth engine, while strategic shifts in supply chains and technology roadmaps redefine the competitive landscape. With the Status of the Memory Industry 2025 report, Yole Group provides decision-makers with critical insights into the forces shaping memory markets, from HBM leadership and AI acceleration to Chinese market emergence and global policy impacts.
For further insights, interviews, or to access the complete report, please contact Sandrine Leroy.
