Non-Volatile Memory Market Set to Transform Consumer Applications with Growing Demand

Non-volatile memory is a term used for any kind of memory or storage devices like F-RAM, flash memory, and read-only memory among others, which retain data even if the power is turned off. It is used extensively in memory chips for USB sticks and digital cameras. Increasing developments and innovations in technology has boosted the growth of the non-volatile market in a significant way. With rising number of applications, advancements in technology, and huge demand for this non-powered computer memory in developed as well as emerging markets, the market is expected to show tremendous growth further.

Drivers and Restraints

The major factors influencing the growth of the global non-volatile memory market are:

  • Growing need for memory devices with high speed and performance, lower costs, low power consumption, and longer retention
  • Rapidly developing technology
  • Increasing shipment for smartphones and number of data centers

Moreover, increasing usage of non-volatile memory in electronics sector and replacement of traditional memory with non-volatile memories are likely to offer good growth opportunities over the coming years.

However, lower write endurance rate, issues related to storage space and capacities, and expensive design costs may act as hindrances for the growth of this market.

Market Predictions

Estimated to grow at a CAGR of 9.93% during the forecast period 2016-2022, the global non-volatile memory market is expected to be valued at USD 80.54 Billion by the end of 2022. Among all the regions participating in this market, Asia-Pacific currently leads the market with the largest share, and is also projected to exhibit the highest rate over the forecast period, with China, India, and South Korea being the key markets among countries. The main factors responsible for the growth of this market in this region are increasing manufacturing activities coupled with growing demand for cost-effective consumer electronics devices.

Among the type of memory, the market for emerging non-volatile memory is expected to grow at the highest rate from 2016-2022, owing to its characteristics like high write and read latency, scalability, and high endurance, which make it preferable over traditional memories.

On the basis of application, consumer electronics, enterprise storage, and automotive segments take up the majority of the market share, as of now. Out of these, the consumer electronics segment is expected to grow at the highest CAGR, followed enterprise storage application, owing to the rise in shipment of smartphones, tablet PCs, and SSD storage devices.

The companies that are profiled in the report are Samsung Electronics Co., Ltd. (South Korea) Toshiba Corporation (Japan), SK Hynix Semiconductor, Inc. (South Korea), Micron Technology, Inc. (U.S.), Intel Corporation (U.S.), SanDisk Corporation (U.S.), Adesto Technologies Corporation, Inc. (U.S.), Fujitsu Ltd. (Japan), Viking Technology (U.S.), Crossbar Inc. (U.S.), Everspin Technologies Inc. (U.S.), and Nantero, Inc.(U.S.).

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Scope of the Research

Researchers have studied and predicted the market trends for non-volatile memory by breaking it down into following categories and sub-categories:

  • Type: Traditional Memory (including Flash, NAND Flash, NOR Flash, NVSRAM, EEPROM, EPROM), Emerging Memory (including MRAM/STT-MRAM, ReRAM/CBRAM, FRAM, NVDIMM, 3D NAND flash, 3D XPoint, NRAM)
  • Application: Industrial, Energy and Power Distribution, Automotive and Transportation, Consumer Electronics, Healthcare, Military and Aerospace, Telecommunication, Enterprise Storage
  • Region: North America, Europe, Asia-Pacific, RoW

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