Non-volatile memory is a type of computer memory that can be used even when not connected to power. Most types of magnetic computer storage devices, F-RAM, flash memory, read-only memory and such other types are some of the examples of non-volatile storage or NVM. Revolutionary intervention of information technology in various walks of life has increased the demand in the non-volatile memory market. The global market is expecting tremendous growth during near future, mainly with the rising applications and constant advancements in terms of technology. This non-powered variant of computer memory is creating huge rise in demand across developed as well as emerging markets.
NVM Market Drivers & Restraints
The global non-volatile memory market is strongly driven by various strong characteristics of NVM. These characteristics include high endurance, faster switching time and efficient consumption and utilization of power. With all the aforementioned benefits, the industry products are coming across as the strong replacement for the conventional technologies. Rapid rise in the application base is also a key driver for the industry. Flexible electronics and replacement of flash memory market are expected to create attractive business opportunities in the NVM industry. According to the researchers, high design cost is the burning issue for the manufacturers as well as customers in the industry. several other restraints include capacity limitations, issues with storage densities and greater costs of the emerging products.
Segments & Forecasts
The global non-volatile memory market is segmented on the basis of the types of technologies, applications, end-users and geographic regions. The types of memory technologies available in the NVM market include NAND flash and DRAM. The newest technologies in the industry include FRAM, MRAM, PCM, ReRAM, nvDIMM, STT-RAM, and so on. The products popular in the industry include hard disk drives, printed memory components like smart ID cards, USB drives and so on. Geographically, the industry is segmented into North America, Europe, Asia Pacific and the rest of the world. Thanks to the major drivers and rapid rate of adoption, the non volatile memory market is set to grow at a CAGR of over 1% from 2014 to 2020.
However, market for the emerging NVM technologies is poised to grow at a CAGR of over 41% during the same time span. At the projected compound annual growth rate, it is expected to become worth $40.2 billion by the end of the year 2020. During the forecasting time frame, North America is expected to dominate the global market. Emerging markets on the other hand are set to witness impressive growth as well.
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