Market Research Future (MRFR) expects the global non-volatile memory market to achieve an approx. growth rate of 11% during the forecast period (2017-2023).
Market Boosters and Top Challenges
Non-volatile memory is a fast developing market, with substantial investments being made in the research and development in the past couple of years. These investments have resulted in the emergence of a number of advanced products like ReRAM, MRAM, among others. Very soon, new memories can be replacing the present memories within the latest range of consumer electronic products.
Every year, almost every electronic device is being fitted with faster and more efficient processors. On top of that, computing power is increasingly being packed into a smaller footprint. Therefore, the memory that has been integrated into these devices is required to have high retention as well as faster switching for immediate retrieval of the data and higher power efficiency. Power efficiency is considered to be an important aspect of all electronic products.
Although nonvolatile memory is quite expensive at present, the onset of modern and advanced technologies like flexible and organic electronics, the need for space and power for extra components in an electronic device will be reduced. In these cases, volatile memory will become a necessity to ensure there is less consumption of power and space as compared to traditional memory storage devices. These factors are believed to lead the market to greater heights in the forthcoming years.
The worldwide market for non-volatile memory has been segmented with regard to type, application, and vertical.
Given the type segment, the market covers traditional and emerging. The traditional non-volatile memory segment is leading the market and can be further segmented into non-volatile SRAM, FLASH, EPROM, SPROM and embedded non-volatile memory. The emerging segment can attain the highest growth rate in the coming years and can be segmented with respect to magnetoresistive RAM, 3D NAND, resistive RAM, Ferroelectric RAM, 3D Xpoint and others.
Application-based market segmentation includes health & monitoring, consumer electronics, industrial, enterprise storage, and others.
Vertical-wise market segments included in the report are healthcare, IT & telecommunication, energy & power, automotive, manufacturing, and others.
APAC is believed to have the potential to achieve the top position in the global non-volatile market and accumulate the largest share in it in the near future. The regional market stands to benefit from frequent technological innovations along with the rising adoption of low power consuming and high-speed memory devices across numerous verticals. In addition, the high concentration of technological giants such as Hynix and Samsung can also work in favor of the market. The regional market is expected to be led by countries like India, China, Japan and South Korea, thanks to the surging use of next generation non-volatile memory in mobiles that can help elevate the enhance customer experience.
North America can garner the highest growth rate in the upcoming years, given the high investments being made to bring development in the technological space. The region is also known for being early adopters of latest technologies like DRAM, PCM and RAM memory. The market in the region is further pushed by the rising use of mobile phones, laptops and other devices. New trends like bring your own device (BYOD) also increases the potential of the regional market.
The leading players in the worldwide market for non-volatile memory include Spin Transfer Technologies (U.S.), SK Hynix, Inc. (South Korea), Samsung Electronics Co., Ltd. (South Korea), Fujitsu Ltd (U.S.), Intel Corporation (U.S.), Nantero (U.S.), Crossbar Inc. (U.S.), Western Digital Corporation (U.S.), Micron Technology, Inc. (U.S.), Adesto Technologies (U.S.), Everspin Technologies (U.S.), Toshiba Corporation (Japan), Synopsys Inc. (UK), Avalanche (U.S.), Cypress Semiconductor Corporation (U.S.), NXP Semiconductor (Netherlands), Texas Instruments (U.S.), 4DS (Australia), Viking Technology (U.S.), IBM Corporation (U.S.), Open-silicon (U.S.), Rambus (U.S.), Kilopass Technology Inc. (U.S.), to mention a few.
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