Market Highlights
Non-volatile memory encompasses an array of storage devices to be used individuals and corporations. The huge generation of data and increasing consumption rate by customers can create a large market. The global non-volatile memory market report by Market Research Future (MRFR) emphasized trends, factors, and challenges for the industry for the forecast period (2020-2027). The COVID-19 pandemic and its effects are explored in the market.
Market Scope
The global non-volatile memory market is likely to display 11% CAGR from 2017 to 2023. Development of new protocols for faster data transfer and manufacture of robust storage devices such as SSDs can drive the market growth.
The use of scalable memory devices and demand for non-volatile memory in connected and wearables can drive the market demand. Non-Volatile Memory Express (NVMe) is a protocol developed by Western Digital Corporation for solid state drives and other external storage devices. Huge demand for external HDDs for gaming and IoT can bolster the market demand. Change in industry standards and improvement in scaling of enterprise workloads will pave the way for future NVM developments.
Investments in improving reliability of NVM framework while reducing latency and reading time is likely to benefit manufacturers in the market. For instance, the pseudo-differential sensing framework has increased reliability and performance in storage devices while improving resilience at a system level. New system-level techniques developed for lowering energy consumption and increasing instruction cycles can favor the market. The 3D NAND flash memory storage solution can improve the efficiency and costs of storage devices.
But the low writing speed of NVM can limit market growth.
COVID-19 Impact
The COVID-19 pandemic has negatively impacted the non-volatile memory market owing to production being halted of major end-users such retail, BFSI, and manufacturing. Lockdown restrictions due to efforts to curb the proliferation of the coronavirus has affected the demand of NVM from 2020.
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Segmentation:
Traditional Type to Continue Dominance
The traditional segment is expected to dominate the market owing to demand for embedded NVM storage in connected and wearable devices.
Consumer Electronics Sector to Contribute to Market Revenue
The consumer electronics sector is likely to contribute to overall market revenue owing to increased performance expectations by customers. The decreasing size of chips and improved computing power and storage can drive its demand in the sector. Sales of portable devices such as smartphones, laptops, and digital tablets can drive the demand for non-volatile memory in the segment.
Regional Analysis
North America to Lead in Global Market Standing
North America is expected to take the lead in the non-volatile memory market owing to rapid implementations of latest storage protocols and a robust infrastructure for accepting technological updates. Adoption of cloud-based CRM modules can influence the regional market demand.
Competitive Analysis
Intel Corporation, NXP Semiconductor, Western Digital Corporation, Nantero, Spin Transfer Technologies, IBM Corporation, Everspin Technologies, SK Hynix, Inc., Viking Technology, Synopsys Inc., Crossbar Inc., Adesto Technologies, 4DS, Open-silicon, Fujitsu Ltd, Samsung Electronics Co., Ltd., Toshiba Corporation, Texas Instruments, Rambus, Avalanche, Kilopass Technology Inc., Micron Technology, Inc., and Cypress Semiconductor Corporation are key players in the global non-volatile memory market. Acquisitions and new product launches are prime strategies of players looking to expand their footprint globally.
Industry News
Texas Instruments has agreed to acquire the non-volatile memory venture of Micron, the 3D XPoint fab.
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Non-Volatile Memory Market Research Report: by Type (Traditional, Emerging), by Application (Health & Monitoring, Enterprise Storage, Industrial), Vertical (IT & Telecommunication, Automotive, Energy & Power, Manufacturing) – Forecast till 2027
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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 The traditional non-volatile memory market led the market in 2016 The traditional non-volatile memory refers to 2D NAND Flash, NOR Flash, NVSRAM, EEPROM, EPROM, and embedded non-volatile memory (eFlash, eEEPROM, embedded multi-time programmable memory (eMTP), embedded one-time programmable memory (eOTP), eFuse, and more.
For the past four decades, the semiconductor memories have expanded largely and achieved higher densities, lower power, and lower costs.
Basic memories such as ROM and EPROM are increasingly being used in toys and greeting cards to store a single permanent code for voice message.
Therefore, traditional non-volatile memory held the largest market size in the NVM market owing to the inexpensive memory solutions as well as the increasing density and performance.
To stay competitive in the market, retailers are highly dependent on integrating technologies in their processes.
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.
