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:

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."

About Counterpoint Research

Counterpoint Research is a global market research firm specializing in products across the technology ecosystem. We advise a diverse range of clients – from smartphone OEMs to chipmakers and channel players to Big Tech – through our offices located in the world's major innovation hubs, manufacturing clusters and commercial centers. Our analyst team, led by seasoned experts, engages with stakeholders across the enterprise – from the C-suite to professionals in strategy, analyst relations (AR), market intelligence (MI), business intelligence (BI), product development and marketing – to deliver services spanning market data, industry thought leadership and consulting. Our core areas of coverage include AI, Automotive, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks and Infrastructure, Semiconductors, Smartphones and Wearables. Visit our Insights page to explore our publicly available market data, insights and thought leadership, and to understand our focus, meet our analysts and start a conversation.

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