In 2Q25, NAND Flash saw client SSD prices rise from tariff-driven PC pre-stocking, with moderate overall ASP growth. 3Q25 shifts to AI/server-led enterprise SSD demand, creating controller IC shortages and sustained price increases, driving the market. Supply upgrades, but overall demand momentum is expected to soften.

Key Highlights

• 2Q25 Review: US tariffs drove PC pre-stocking, boosting client SSD prices; however, enterprise and UFS demand remained soft, leading to moderate overall ASP growth.
• 3Q25 Outlook: Robust AI and server demand is fueling enterprise SSD orders, causing controller IC shortages and expected sustained price increases, set to lead the NAND Flash market.
• Supply Side: Process upgrades and yield improvements are expanding output bit growth.
• Demand Side: 2Q25 saw a boost from policy and tariff-driven pre-stocking; 3Q25 anticipates overall demand moderation due to slowing consumer demand and earlier fulfillment.

Table of Contents

1. 2Q25 NAND Flash Industry Review and Outlook
   1. Global NAND Flash Market Sufficiency Ratio by Quarter
   2. Mainstream NAND Flash Contract Price Trend
2. NAND Flash Supply Analysis
   1. Global NAND Flash Wafer Output Forecast
   2. Global NAND Flash Output by Process Technology
   3. Global NAND Flash Output by Architecture
3. NAND Flash Manufacturer Status
   1. 2Q25 Revenue Ranking among NAND Flash Suppliers
4. NAND Flash Demand Analysis
   1. Global NAND Flash Demand by Application
   2. Enterprise SSD PCIe Technology Roadmap
   3. 2Q25 Revenue Ranking among Enterprise SSD Suppliers
   4. Adoption of different USB interfaces

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