The non-volatile memory market was valued at USD 54.3 billion in 2020 and is projected to reach USD 83.6 billion by 2025, at a CAGR of 9.0% between 2020 and 2025. Increasing demand for faster access and low power consuming memory devices is expected to drive the overall non-volatile memory market during the forecast period. The rising need for memory devices with high speed, low power consumption, and high scalability is expected to fuel the development of new non-volatile memories.
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Market for emerging memories such as 3D NAND to grow at fastest CAGR during forecast period
3D NAND flash technology is one of the growing technologies in the non-volatile memory market. The market for NAND flash technology is reaching saturation as NAND flash manufacturers are adopting miniaturization to increase the storage density and to reduce cost. Nowadays, flash memory vendors are emphasizing on increasing chip density by layering NAND flash cells on top of each other. This approach is likely to reduce the production cost and boost the performance of flash memories.
3D NAND flash memory uses a new flash cell design and vertically stacks dozens of silicon layers in a single chip. This allows 3D NAND flash memory to increase storage density using a much less aggressive manufacturing process technology than the planar NAND flash memory.
Consumer electronics to hold largest share of non-volatile memory market by 2025
Consumer electronics are one of the largest application areas of nonvolatile memories. The performance requirements in consumer electronics are continuously increasing owing to rising need for high processing power and memory density while keeping the product cost more or less persistent. These memories have the capability to meet the requirements of consumer electronics equipped with advanced technologies, such as AI, IoT, and big data analytics, which generate huge amounts of data to be stored. The increasing need for high storage density and low power consumption is driving the demand for flash memories in portable consumer electronic devices, such as mobile phones, laptops, tablets, digital cameras, and gaming devices. However, the 3D NAND memory offers miniaturized products with high storage density.
North America to account for a significant market share during forecast period
North America is among the largest producers of memory chips in the world. It is the major base for all non-volatile memory manufacturers. North America is the second-largest consumer of memory in the world after Asia Pacific. R&D support with a huge financial backing for the development and adoption of advanced technologies across industries is one of the major reasons for this consumption. The memory-integrated products in this field include smartphones, tablets, gaming consoles, digital still cameras, personal navigation devices, and MP3 players. North America is a major center for consumer electronics, especially smartphones owing to which the demand for emerging non-volatile memory is significantly large in this region.
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Key Market Players
The companies profiled in this report are Intel Corporation (US), Toshiba Corporation (Japan), SAMSUNG ELECTRONICS (South Korea), Adesto Technologies Corporation (US), Viking Technology (Taiwan), Crossbar Inc. (US), Kilopass Technology (US), Sidense Corporation (Canada), Sandisk Corporation (US) and Micron Technology (US) And many others.
The growth of this market is mainly driven by the need for high-speed, low-power-consuming, and highly scalable memory devices as well as the growing demand for non-volatile memory in connected and wearable devices.
Browse 129 market data Tables and 72 Figures spread through 213 Pages and in-depth TOC on "Non-volatile Memory Market - Global Forecast to 2025" Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1371262 Traditional non-volatile memory market held the largest size in 2016 The embedded non-volatile memory has gained significant attention in the connected devices and IoT market because of its higher efficiency under ultra-low power.
Therefore, traditional non-volatile memory held the largest market size in the non-volatile memory market owing to the inexpensive memory solutions as well as the increasing density and performance.
To access the data generated at point of sales effectively many retail players started adopting emerging memory technology to implant data driven decisions non-volatile memory is an integral part of various analytic tools used in the retail industry for computing and analysis applications.
APAC held the largest share of the non-volatile memory market in 2016 The huge consumer electronics customer base in APAC and the presence of major global foundries in this region led to the faster development of non-volatile memory technologies and enabled the easy accessibility of products to the market.
Also, China has access to large funding sources and the favorable government initiatives further help drive the growth of the market.
5th October, 2018 - Non-Volatile Memory Market is expected to grow in the predicted period.
Non-volatile memory technologies are bound to gain significant response from semiconductor industry.
Traditional memory technologies such as DRAM, SRAM and Flash are expected to become obsolete and a novel technology called ‘universal memory’ is expected to risewith characteristics such as high-density, high speed, low-power, random accessibility, non-volatility and unlimited endurance.
Such characteristics enable non-volatile memory to deliver certain requirements of applications from a large supercomputer to a low-cost consumer handheld device.
Universal memory includes phase change memory, magnetic memory, toggle-mode magnetic memory and spin-transfer torque memory.Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/non-volatile-memory-nvm-market/request-sampleBased on type, the non-volatile market is segmented into emerging and traditional.
Based on end-user, the non-volatile market is segmented into enterprise, consumer electronics, military and aerospace, industrial, telecommunication, energy & power, healthcare, agriculture and retail.
