A clear uptrend is taking shape for 2026, with tighter DRAM supply and broad-based price increases now firmly in sight. The primary growth catalyst is CSPs, which are accelerating data center expansion to support AI workloads. This is not only driving higher global server shipments but also a notable increase in memory content per server.

In the NAND Flash market, enterprise demand will serve as the core growth engine in 2026, while the consumer segment is expected to remain muted until a more visible economic recovery boosts purchasing power and revitalizes demand.

Looking ahead to 2026, continued strength in AI server demand—combined with suppliers' profitability-first strategy—will keep both DRAM and NAND Flash prices on an upward trajectory, reinforcing a structural pricing shift across the memory industry.

Key Highlights

• Clear uptrend in 2026 with tighter DRAM supply and broad-based price increases, driven by CSPs accelerating data center expansion for AI workloads, boosting global server shipments and memory content per server.
• NAND Flash market relies on enterprise demand as core growth engine in 2026, while consumer segment stays muted pending economic recovery to revive purchasing power.
• Sustained AI server demand, paired with suppliers' profitability-first strategy, maintains upward trajectory for DRAM and NAND Flash prices, reinforcing structural pricing shift in memory industry.

Table of Contents

1. Capacity shifts toward high-margin server products, making DRAM price increases hard to reverse
   • Table 1: DRAM Sufficiency Ratios and Price Projection
2. PC DRAM: Server demand crowds out supply, limiting PC DRAM output and driving passive price increases
3. Server DRAM: Data-center expansion fuels strong demand; suppliers prioritize allocation, driving prices higher
4. Mobile DRAM: Limited Bit Growth and Potential Supply Squeeze Likely to Trigger Sharp Price Increases
5. Graphics DRAM: AI fuels strong demand; GDDR7 takes over as key growth driver with full-year price increases
6. Consumer DRAM: Weak Demand Outlook, Limited DDR3/DDR4 Supply to push Contract Prices Higher
7. 2026 outlook: Weak consumer demand under economic uncertainty, while enterprise AI adoption becomes the key growth driver
   • Table 2: NAND Flash Sufficiency Ratios and Price Projection
8. Client SSD: Capacity growth slows as 512 GB becomes standard, while QLC gains share on cost advantage
9. Enterprise SSD: AI demand and HDD substitution to drive strong growth; spillover effects to lift prices across other segments
10. eMMC/UFS: NAND Flash process advancements drive higher smartphone storage, but soft demand and intense competition limit price upside
11. NAND Flash wafers: Foundry process migration and profit-first strategies tighten supply, pushing prices higher
12. TRI’s View

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