Non-volatile memory is a secondary memory in computer systems that provides permanent storage of data and can be utilized as backup storage. As per the report published by Market Research Future (MRFR), the global non-volatile memory market is anticipated to expand at a noteworthy CAGR of 11% during the forecast period of 2017-2023.
Market Drivers and Restraints:
The global non-volatile memory market is majorly driven by the rapid advancement in technology all over the world and increasing adoption of highly scalable memory devices in residential as well as industrial sectors. The brisk development in the field of wired and mobile electronic devices is inducing high demand for non-volatile memory in the global market, resulting in the significant expansion of the global non-volatile memory market.
The benefits of non-volatile memory such as long-term persistent data storage, retrieval of stored data even after being power cycled, high-speed data access and others are fueling the expansion of the global Non-Volatile Memory Market. The emergence of technology with optimized power consumption and faster data access are impacting positively on the growth of the global non-volatile memory market during the forecast period.
The rapid increase in the demand for advanced storage technology and utilization of non-volatile memory in the flexible electronics are driving the global non-volatile market towards higher verticals. However, the limited storage capacity, rapid obsolescence of technology and high designing cost of devices with non-volatile memory are likely to impact negatively on the growth of the global non-volatile memory market during the forecast period.
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The global non-volatile memory market has been segmented on the basis of type, application and vertical. Based on type, the non-volatile memory market report is segmented into traditional and emerging. The traditional segment is sub-segmented into FLASH, non-volatile SRAM, embedded non-volatile memory, EPROM and SPROM. The emerging segment is sub-segmented into 3D NAND, magnetoresistive RAM, Ferroelectric RAM, resistive RAM, 3D Xpoint and others.
The emerging type segment is anticipated to dominate the global non-volatile memory market owing to the benefits of emerging technology such as optimized power consumption and high-speed performance. Based on application, the non-volatile memory market is segmented into consumer electronics, health and monitoring, enterprise storage, industrial and others.
Based on verticals, the non-volatile memory market is segmented into IT and telecommunication, healthcare, retail, automotive, energy and power, manufacturing, and others. Among these, the healthcare and automotive industrial verticals segments are projecting lucrative growth in the global non-volatile technology market owing to the increased utilization of non-volatile memory in these sectors.
The global non-volatile memory market is geographically segmented into Asia Pacific, North America, Europe and the rest of the world. Among these, the Asia Pacific region accounts for the largest market share in the global non-volatile memory market owing to the rapid adoption of devices with non-volatile memory in this region.
The North America region is projected to expand at the fastest rate in the global non-volatile memory market during the forecast period owing to the increasing demand for advanced storage technology in various industrial sectors in this region.
The Europe region is anticipated to project significant growth in the global non-volatile memory market during the forecast period. The increasing demand for advanced storage technology with optimized energy consumption and faster data access are fueling the expansion of the non-volatile memory market in the rest of the world.
The brisk technological advancement is creating huge opportunities for introduction of high-tech storage devices embedded with non-volatile memory or secondary memory, which in turn is strengthening the competition among the players in the global non-volatile memory market. The rising amount of investments in research and development for new product launch and strategic mergers and acquisitions by the manufacturers are aiding in the expansion of their businesses on a global level.
On 17th July 2018, Intel and Micron have announced that their development partnership of the non-volatile memory technology would come to an end after the conclusion of second-generation 3D Xpoint. The development of non-volatile memory technology will be pursued independently by both the companies from the first half of 2019.
The key players profiled in the report published by MRFR on the global non-volatile memory market are Samsung Electronics Co., Ltd. (South Korea), Toshiba Corporation (Japan), Micron Technology, Inc. (U.S.), SK Hynix, Inc. (South Korea), Western Digital Corporation (U.S.), Fujitsu Ltd (U.S.), Intel Corporation (U.S.), IBM Corporation (U.S.), Nantero (U.S.), Crossbar Inc. (U.S.), Synopsys Inc. (UK), Adesto Technologies (U.S.), Everspin Technologies (U.S.), Viking Technology (U.S.), Kilopass Technology Inc. (U.S.), Avalanche (U.S.), Cypress Semiconductor Corporation (U.S.), NXP Semiconductor (Netherlands), Rambus (U.S.), Texas Instruments (U.S.), Spin Transfer Technologies (U.S.), 4DS (Australia) and Open-silicon (U.S.).
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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