NAND flash in its short life has gone from insignificant sales to become a $16 billion market in under ten years. This product, the fastest-growing technology in the history of the semiconductor market, is poised to displace DRAM as the leading semiconductor memory. This new 55-page study examines NAND as a market, and explains how and why this technology has been able to grow so fast, and what is likely to come over the next five years.