Global IC sales will increase by 24% in 2024, which is 8% more than the previously predicted growth of 16%.The main driving factor behind this significant change is memory. It is predicted that global memory product sales will increase by 71% in 2024, far exceeding the previous forecast of 41%. This is because of limited supply and improved demand, resulting in memory pricing far exceeding expectations.

The current storage market is gradually recovering. In the fourth quarter of 2023, the global DRAM industry‘s revenue reached $17.46 billion, an increase of 29.6%. Meanwhile, global DRAM manufacturers including Samsung, SK Hynix, Micron, and others saw year-on-year revenue growth in the quarter.

Samsung has the highest growth rate among the three major DRAM manufacturers, with a revenue of $7.95 billion and a quarterly increase of over 50%. This is mainly due to the increase in shipment of 1alpha nm DDR5, which has led to a shipment growth of over 60% for Server DRAM.

SK hynix benefited from the price advantages of HBM and DDR5, as well as profits from high-capacity Server DRAM modules. The average sales unit price increased by 17-19% quarterly, and the revenue in the fourth quarter reached $5.56 billion, a 20.2% quarterly increase.

Micron saw a rise in both volume and price, with a relatively low proportion of DDR5 and HBM, resulting in a relatively moderate growth in revenue. In the fourth quarter, its revenue reached $3.35 billion, an increase of 8.9%.

At present, due to the uncertain demand outlook for the whole year of 2024, the original factory believes that continuous production reduction is still necessary to maintain the supply-demand balance of the storage industry.