Micon: Automotive and industry will be the fastest-growing markets for memory chips in the next decade

Micron CEO Sanjay Mehrotra said in a recent interview that demand from edge markets such as automotive and industrial Internet of Things (IIoT) remains strong. He predicts that the automobile and industry will become the fastest growing market for the memory and storage industry in the next decade. As the number one player in these markets, Micron is in a very advantageous position and will benefit from this long-term growth trend.

Mehrotra pointed out that Micron’s automotive chip business achieved record growth for the fourth consecutive quarter driven by the continued recovery of the automotive manufacturing industry and the growth of memory and storage driven by in-vehicle infotainment systems and driver assistance applications.

At the same time, benefiting from the continued growth of applications such as POS equipment, factory automation and surveillance equipment, Micron’s industrial Internet of Things business revenue also set a new record in the quarter. The company expects that demand from the industrial sector will accelerate further along with 5G deployment.

electronic components news MICRON

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