Gartner Research

Forecast Analysis: NAND Flash, Worldwide

Published: 25 April 2023


Market conditions have become dire for NAND vendors as prices erode to unsustainable levels, undermining profitability in 2023. Weak demand has fueled excess inventory, but current supply reductions will lead to undersupply and a recovery in revenue of 60.9% and 38.8% in 2024 and 2025, respectively.

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Forecast Assumptions
  • The NAND flash market is forecast to be in oversupply each quarter of 2023 before turning to a shortage that intensifies throughout 2024, with 3Q24 being the most severe with an 8.6% shortage.

  • NAND price per gigabyte is projected to decline 41.2% in 2023; however, a strong rebound is forecast in 2024 as prices increase 26.6% and a further 5.9% in 2025.

  • Demand for all segments of solid-state drives (SSDs) will grow by a meager 7.1 million units in 2023 to 438 million, although SSDs will witness a unit production compound annual growth rate (CAGR) of 7.3% from 2022 through

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Joseph Unsworth

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