Tight Supply and Restocking Fuel 7% DRAM Module Revenue Growth in 2024, TrendForce Reports

In 2024, the global DRAM module market generated USD 13.3 billion in revenue, marking a 7% year-over-year increase, according to TrendForce. This growth reversed a 28% decline from 2023, driven by tighter supply and increased demand following inventory adjustments in the downstream consumer market completed by Q4 2023. DRAM suppliers shifted focus to HBM and server DDR5 products, reducing availability for other DRAM types, which raised prices and prompted module manufacturers to restock and increase procurement.

In the second half of 2024, rising module prices slowed demand momentum. Manufacturers faced challenges passing high chip costs to distribution channels, constraining sales. Some companies mitigated this by purchasing cheaper server reball chips to optimize cost structures and maintain competitiveness.

Most module manufacturers saw revenue growth in 2024, though the extent varied based on target markets and strategies. The top five manufacturers accounted for 81% of global revenue, with the top eight holding 83%. Kingston led with a 66% market share but experienced slower growth due to weaker consumer segment demand in the second half of 2024, focusing instead on profitability and its high-end brand image.

ADATA secured second place with a 20% revenue increase, leveraging low-cost inventory from Q2–Q3 2023 to boost shipments in the first ha...