Market Scope
The non-volatile memory market is growing rapidly. Market growth attributes to the rising uses highly scalable memory devices and increasing demand for non-volatile memory from the connected & wearable devices market. Besides, increasing deployment of non-volatile memory in the banking and financial services sector drives the growth of the market. Moreover, advances in storage technologies such as NVM OTP escalate market growth.
According to Market Research Future (MRFR), the global non-volatile memory market valuation is estimated to grow at 11% CAGR throughout the review period (2017-2023). Rising usages of the internet and smart connected devices foster the growth of the non-volatile memory market analysis, generating the data. Also, increasing demand for non volatile RAM to provide HDMI and conditional access security keys and hack-resistance storage for excellent protection of content and network access fosters the market growth.
Additionally, rising usages of high capacity OTP NVM in next-generation set-top box chips influence the growth of the market. Moreover, the increasing demand for NVM to offer systems providers & users and efficacies inventory control and tracking systems to accommodate changing business conditions boosts the market growth. Rising adoption of NVMs in increasing numbers of businesses & enterprises pushes the growth of the non-volatile memory market.
On the other hand, high deployment costs associated with NVMs are a significant factor projected to impede the growth of the market. Nevertheless, increasing focus on developing non-volatile flash memory and SSD applications, providing highly customized industrial-grade storage and memory solutions, would support the growth of the market throughout the review period. Also, non-volatile memory devices extend a system’s battery life without sacrificing power or performance; this is a key factor expected to expand the market size.
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Non-Volatile Memory Market- Segments
The report is segmented into four dynamics:
By Type : Traditional (non-volatile SRAM, embedded non-volatile memory, FLASH, EPROM, SPROM, others) and Emerging (3D NAND, 3D Xpoint, Magneto Resistive RAM, Ferroelectric RAM, Resistive RAM, others).
By Application : Health & Monitoring, Electronics, Enterprise Storage, Industrial, and others.
By Vertical : IT & Telecommunication, Automotive, Energy & Power, Manufacturing, and others.
By Regions : Asia Pacific, North America, Europe, and Rest-of-the-World.
Global Non-Volatile Memory Market - Regional Analysis
The Asia Pacific region dominates the global non-volatile memory market. The largest market share attributes to rising technological advances and adoption of high speed and low power consuming memory devices in various industry verticals. Besides, the presence of notable industry players such as Samsung and Hynix drives the growth of the regional market. Moreover, Rapid economic growth and spurted industrialization in the region are other major factors boosting the market growth.
Furthermore, increasing numbers of start-ups in the region contribute to the growth of the market, resulting in data accumulation and requiring backup facilities. China, Japan, and South Korea are major markets for the non-volatile memory in the region. The APAC non-volatile memory market is projected to retain its dominance throughout the estimated period.
North America stands second in the non-volatile memory market. The market increase is driven by the presence of many notable players and well-established end-user verticals in the region. Moreover, broad uptake and advances in storage technologies foster the growth of the regional market.
Besides, the increasing investments transpired in technology developments propel the regional market growth. Simultaneously, the demand for reliable backup and recovery systems support market growth in the region. The North American non-volatile memory market is expected to witness rapid growth during the assessment period.
Europe non-volatile memory market is emerging as the fastest-growing market. The market growth attributes to the growing number of businesses and technology upgrades. Countries like Germany, France, Italy, and the UK, would continue to contribute to regional market growth. Increasing economic growth is a significant tailwind behind the regional market growth. The European non-volatile memory market is estimated to create a substantial revenue pocket in the next six years.
Global Non-Volatile Memory Market - Competitive Analysis
The NVM market appears highly competitive and fragmented due to the presence of several well-established players. To gain a larger competitive share in the market, industry players adopt strategies such as mergers & acquisitions, collaboration, expansion, and product/ technology launch.
Major Players:
Players leading the global NVM market include Toshiba Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Micron Technology, Inc. (US), Western Digital Corporation (US), SK Hynix, Inc. (South Korea), Fujitsu Ltd (US), IBM Corporation (US), Intel Corporation (US), Nantero (US), Synopsys Inc. (UK), Crossbar Inc. (US), Adesto Technologies (US), Viking Technology (US), Everspin Technologies (US), Kilopass Technology Inc. (US), Cypress Semiconductor Corporation (US), Avalanche (US), NXP Semiconductor (Netherlands), Texas Instruments (US), Rambus (US), Spin Transfer Technologies (US), Open-silicon (US), and 4DS (Australia), among others.
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Industry/Innovation/ Related News:
July 27, 2020 --- Researchers at the University of Southern California announced that they had made a breakthrough in non-volatile memory based on ferroelectric tunnel junctions, using Van der Waals materials. This breakthrough research in non-volatile memory technology is funded by the US army. The new method creates non-volatile memory to better store data even when power is removed. In theory, a machine that utilizes only non-volatile memory, as opposed to a combination of the volatile and non-volatile, requires no booting up.
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