研报 | AI运算架构升级推升存储器市场产值有望于2027年再创高峰，预估年增率超过50%

Core Insights - The article emphasizes that AI innovation is driving structural changes in the market, leading to an increased demand for storage solutions, particularly DRAM and NAND Flash, which are essential for AI infrastructure [2][6]. DRAM Market Analysis - In 2025, the DRAM market value is projected to reach $1.657 billion, reflecting a year-on-year growth of 73%, significantly outpacing NAND Flash's $697 million value [4]. - The demand for DRAM is expected to surge due to increased capital expenditures by North American cloud service providers (CSPs) in the second half of 2025, driven by accelerated AI server deployments [4]. - The price of DRAM has seen substantial increases, with a quarterly rise of 53-58% in Q4 2025, and expectations of over 60% growth in Q1 2026 [6]. NAND Flash Market Analysis - The NAND Flash market is also experiencing significant growth, with a projected annual increase of 112% in 2026, reaching a value of $1.473 billion [7]. - The demand for high IOPS enterprise SSDs is expected to rise due to the evolving needs of AI applications, particularly in accessing large vector databases [7]. - The ongoing shortage in the memory market is likely to maintain the pricing power with suppliers, ensuring continued revenue growth in the sector [7]. Overall Market Outlook - The overall memory market is anticipated to continue its upward trajectory, with revenue growth expected to persist until 2027, driven by sustained demand for DRAM and NAND Flash in AI applications [7].