Kingston tops global DRAM market with USD $13.3 billion revenue
Kingston Technology has been ranked the top global supplier of third-party DRAM modules by revenue in 2024, according to analyst firm TrendForce.
The company maintained its number one position with an estimated 66% share of the market, outpacing the second largest supplier, which held only 5% of total market share. The latest TrendForce analysis noted that the top five memory module manufacturers accounted for 81% of global sales during 2024, with the top eight reaching 83%.
In its report, TrendForce indicated that global DRAM module sales rose by 7% year-on-year in 2024, reversing a decline seen in the previous year. The increase in overall sales was attributed in part to changing supplier strategies and market dynamics. Towards the end of the fourth quarter in 2023, DRAM suppliers began prioritising the production of high bandwidth memory and server-grade DDR5 products. This shift led to tighter availability of other DRAM types, which subsequently drove up demand and pricing across the market.
Module manufacturers responded to tighter supply conditions by increasing their procurement activities and replenishing inventory levels. As a result, total DRAM module revenue reached USD $13.3 billion in 2024. However, rising module prices in the second half of the year contributed to dampened consumer demand, ultimately limiting the pace of sales growth.
Despite these market fluctuations, Kingston Technology maintained a strong market presence. The report acknowledged that the company's revenue growth in 2024 slowed compared to previous years, largely because of weaker consumer demand in the latter half of the year, but its overall market share remained steady.
Kingston also introduced several new products to its DRAM module lineup during 2024. The Kingston FURY Renegade DDR5 RGB Limited Edition was launched as a racecar-inspired module, featuring a new curved design and achieving speeds of up to 8000MT/s. This design was tailored to deliver high overclocking potential while aiming to minimise performance bottlenecks.
The company additionally released the Kingston FURY Renegade DDR5 CUDIMMs, which are compatible with Intel's new 800-series chipset (previously known as Arrow Lake). The release of overclockable DDR5 CUDIMM modules was positioned as an option to broaden access for professionals who require high performance and system stability without compromising signal integrity.
"The 2024 findings from TrendForce reflect the company's ongoing strength and adaptability in the face of yet another demanding business year," said Kingston. "This milestone not only reaffirms Kingston's dominant presence in the market but also underscores the company's resilience and significance within the industry, as we now proudly maintain our top position for the 22nd consecutive year."
According to TrendForce's data, DRAM market dynamics in 2024 were influenced heavily by changes in procurement and production priorities. The shift toward producing server-grade and high bandwidth modules created a supply imbalance for other DRAM types. This contributed to higher prices and encouraged module manufacturers to secure additional stock early in the year.
While these changes benefited overall sales and led to higher market revenue, the subsequent rise in prices during the second half of the year moderated consumer purchases and resulted in a slowdown in revenue growth, particularly among top market participants.
Kingston's continued position as the world's largest third-party DRAM supplier marks its 22nd consecutive year leading the sector by revenue and market share, according to figures published by TrendForce.
