Kingston Technology retained its position as the world's largest third-party DRAM module supplier for the 23rd consecutive year, although its market share declined as artificial intelligence infrastructure demand tightened memory supplies and pushed prices sharply higher.The company's share of global DRAM module revenue fell to 62% in 2025 from 66% in 2024, according to market research firm TrendForce. The four-percentage-point decline came despite Kingston recording substantial revenue growth, reflecting stronger expansion among competing manufacturers during a period of exceptional demand.
Worldwide DRAM module revenue surged 59% to approximately $21.2 billion in 2025, compared with $13.3 billion the previous year. Kingston's revenue increased 48%, below the industry average, as rising memory prices and stronger shipments transformed market conditions during the second half.
The findings, published by TrendForce on September 22 and subsequently acknowledged by Kingston, underline how demand from artificial intelligence data centres has reshaped the memory industry. Cloud computing companies expanded purchases of server DRAM to support increasingly demanding AI applications, reducing allocations available for personal computers and consumer electronics.
DDR5 memory prices have consequently risen dramatically, with some retail configurations costing several times their earlier levels. However, the extent of increases varies by capacity, manufacturer, retailer and purchase date. The industry figures establish widespread price inflation but do not demonstrate that every DDR5 product has tripled.
TrendForce identified growing server requirements associated with agentic AI applications as a major driver of the supply imbalance. Cloud service providers in North America and China accelerated procurement during the second half of 2025, competing with conventional computing customers for available semiconductor production.
Memory manufacturers also devoted substantial resources to high-bandwidth memory, which is used alongside advanced AI processors. This added pressure to the allocation of manufacturing capacity between specialised AI products and conventional DRAM.
Kingston nevertheless maintained an overwhelming advantage over competitors. Its estimated 62% revenue share was more than ten times that of second-ranked ADATA, which held approximately 6% of the third-party module market.
The ranking covers companies supplying finished DRAM modules rather than manufacturers of the underlying semiconductor chips. Kingston purchases memory components and produces modules for computers, servers and other equipment, making its market position distinct from that of chipmakers Samsung Electronics, SK Hynix and Micron Technology.
ADATA recorded an 82% increase in revenue during 2025, substantially exceeding Kingston's growth rate. Ramaxel, which ranked third, registered growth of 153%, demonstrating how smaller suppliers benefited from changing purchasing patterns and expanding customer relationships.
Kimtigo occupied fourth position, followed by Team Group in fifth. Together, the five largest suppliers accounted for 77% of global module revenue, compared with 81% in 2024, indicating a modest reduction in market concentration despite Kingston's continued dominance.
The nine leading suppliers collectively represented 81% of industry revenue. Their performance varied considerably, reflecting differences in inventory strategies, product portfolios and exposure to industrial, enterprise and consumer customers.
Patriot Memory, ranked sixth, achieved revenue growth of 89%, supported by its presence across gaming, industrial computing and edge applications. Seventh-ranked Innodisk recorded a 132% increase, benefiting from stronger industrial demand and expanding edge AI projects.
Apacer, in eighth position, reported 96% growth after increasing component procurement during the second quarter. Ninth-ranked AGI recorded a 26% rise, with its business concentrated primarily on consumer retail channels and cross-border electronic commerce.
Inventory management emerged as a significant competitive factor. During the first half of 2025, several module suppliers accumulated DDR4 components amid uncertainty surrounding tariffs and manufacturers' plans to discontinue older memory products.
Those inventories became valuable when supply tightened and prices increased later in the year. Companies holding components purchased at lower prices could maintain shipments while responding to stronger demand.
Kingston's substantial purchasing capacity also allowed it to build inventories throughout 2024 and 2025. The company said its procurement scale helped sustain distribution supplies as market conditions tightened.
Manufacturers simultaneously adjusted their product strategies towards higher-value industrial and enterprise-server applications. DDR5 became the principal product line for many module suppliers during the second half of 2025, reflecting the transition towards newer computing platforms.
The transition also affected purchasing decisions because DDR4 and DDR5 modules are not interchangeable. Customers upgrading older systems generally require compatible processors and motherboards before adopting the newer memory standard.
TrendForce said several manufacturers had expanded enterprise-server product offerings as they sought customers capable of absorbing higher memory costs and maintaining longer procurement commitments.
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