Global NAND Memory Market Surges to a Record $46B in Q1 2026 as AI Demand Drives Massive Growth

NAND Memory revenues surged a massive 3.5x annually mirroring the dramatic DRAM growth
NAND prices driven by the expanding AI demand are pushing up the revenue every quarter.
Samsung is the solid No.1 with a 29% share, followed by SK Hynix and Kioxia.
China’s YMTC continues its rapid growth, expanding its share to 13%, closing the gap with SanDisk and Micron.

Seoul, Beijing, Berlin, Fort Collins, Hong Kong, London, Buenos Aires, New Delhi, Taipei, Tokyo – The global NAND flash memory market reached a massive $46 billion in revenues in Q1 2026, fuelled by growing demand for AI infrastructure. According to Counterpoint Research’s latest NAND Memory Market Tracker, the industry saw the market almost 2x sequentially and a staggering 3.5x compared to Q1 2025, mirroring the dramatic price hikes previously seen in the DRAM sector.

Key Market Takeaways:

The AI Tailwind: Artificial intelligence infrastructure roll out and move to Agentic AI continues to be the primary growth engine. Server-oriented enterprise SSDs (eSSDs) accounted for 43% of the total NAND market in Q1 2026 and are projected to cross 60% by the end of the year. For perspective, Q1 2026 NAND revenues was greater than the full year 2023 revenues.
Samsung Holds the Crown: Samsung comfortably maintained its number-one position, capturing a 29% market share.
Close Race for Third Spot: Kioxia, Micron, SanDisk and YMTC are pretty close competing fiercely for the third spot with solid demand all across.
YMTC’s Meteoric Rise: China’s Yangtze Memory Technologies Corp (YMTC) is the market’s standout performer. Driven by heavy demand from domestic Chinese manufacturers and price increases driven by supply shortages, YMTC grew almost 445% annually as its market share rose from 8% a year ago to 13% this quarter.

Competitive Landscape: Global Revenue Share (Q1 2025 – Q1 2026)

Based on Counterpoint’s latest tracker, the market growth and share breakdown for Q1 2026 stands as follows:

Stacked chart showing global NAND revenue market share Q1 2025 - Q1 2026

Note: SK Hynix includes Solidigm.
Source: Counterpoint Research NAND Flash Tracker – Q1 2026

The Big Move: YMTC Eyes an IPO

Looking ahead, YMTC is aiming for an Initial Public Offering (IPO) in the Chinese stock market, following a path similar to CXMT. A successful listing is expected to grant the company substantial capital injection and market credibility.

Commenting on this trajectory, MS Hwang, Research Director at Counterpoint Research, noted:

“If YMTC secures extra capital through this IPO, it will be fully equipped to scale up operations. Under this scenario, we expect YMTC to surpass both Kioxia and Micron, widen its lead to emerge as the world’s No. 3 NAND player.”