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Non-Volatile Memory Market: By Memory Type (RAM [ReRAM], Spin-Transfer Torque RAM, Phase-Change Memory [PCM], Ferroelectric RAM [FRAM], NAND Flash Memory, Erasable Programmable Read-Only Memory [EPROM], EEPROM), By Type (Electrically Addressed, Mechanically Addressed), By Application (Consumer Electronics, Enterprise Storage, Automotive & Transportation, Military & Aerospace, Industrial, Telecommunication, Energy & Power, Healthcare, Agricultural, Retail), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Non-volatile memory, aka non-volatile storage, is a type of computer memory that can proficiently keep recorded data even when the power is turned off. NVM doesn't need its memory data to be refreshed regularly like volatile memory does. It is frequently employed for long-term reliable storage or supplementary storage. Non-volatile memory is very common in digital media; memory chips for USB flash drives and digital cameras frequently use it. Hard discs and other secondary storage devices that are generally slow are no longer necessary thanks to non-volatile memory. Mechanically addressed systems and electrically addressed systems are two categories for non-volatile data storage. Among others, NVM includes optical discs and flash memory.
Non-Volatile Memory to surpass USD 192.4 billion by 2032 from USD 59.35 billion in 2021 at a CAGR of 11.3% in the coming years, i.e., 2022-32. During the forecast period, the global Non-Volatile Memory Market is anticipated to be driven by rising consumer demand for memory devices with quick access and low power consumption. New non-volatile memories are anticipated to be developed in response to the growing need for memory devices with high speed, low power consumption, and high scalability, which will further drive the market growth.
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Non-Volatile Memory Market is categorized on the basis of Memory Type into RAM (ReRAM), Spin-Transfer Torque RAM, Phase-Change Memory (PCM), Ferroelectric RAM (FRAM), NAND Flash Memory, Erasable Programmable Read-Only Memory (EPROM), and EEPROM. Due to rising consumer electronics demand and market penetration throughout the projected period, NAND flash memory is anticipated to hold a major market share. Due to the rising popularity of cloud solutions and the numerous uses for this memory type in devices like digital cameras, laptops, GPS, electronic musical instruments, cell phones, etc., the segment is expected to grow strongly over the next years.
Non-Volatile Memory Market is categorized on the basis of Application into Consumer Electronics, Enterprise Storage, Automotive & Transportation, Military & Aerospace, Industrial, Telecommunication, Energy & Power, Healthcare, Agricultural, and Retail. The consumer electronics segment is projected to lead the Non-Volatile Memory Market. As the demand for high processing power and memory density rises, consumer electronics' performance requirements also rise steadily while the price of the products remains more or less constant. The need for flash memories in portable consumer electronics is being driven by the growing need for high storage density and low power consumption.
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NVM has been more widely adopted recently, namely in the consumer electronics, healthcare, and automotive industries. This is due to the growing demand for memory devices with faster access and low power consumption. Therefore, due to high-speed data access and optimized power usage, the global Non-Volatile Memory Market is predicted to rise moderately in the near future. Moreover, the emergence of cutting-edge storage technologies like MRAM, 3D XPoint, NRAM, and SONOS, and also an increase in demand for NVM, particularly in flexible electronics, would present the market with tremendous prospects.
Over the projected period, the Non-Volatile Memory Market is anticipated to be driven by the expanding application base. The industry will expand as non-volatile memory replaces conventional storage. Also, advantages including low power consumption, quick switching times, and high endurance are anticipated to support market growth over the projected period. The Non-Volatile Memory Market may experience new growth potential due to the accessibility of flexible electronics products.
Non-Volatile Memory has remarkable characteristics. The technology's key benefits include outstanding performance, large data storage, and simple backup. The main market constraint, however, is the nonvolatile memory's short lifetime. Memory technology's slow writing speed is referred to as low endurance. This restriction has an impact on the total amount of time it takes to send data.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Non-Volatile Memory Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In terms of revenue, Asia Pacific led the market in the past years and is predicted to continue to do so during the projected period. Due to a rise in demand for telecommuting, online entertainment, and video and phone call services, the building of new infrastructure, including data centers, has been expanding in several Asia Pacific nations. It is becoming necessary to establish sizable big data centers in nations like China and India due to the rapid development of the digital economy.
North America, being one of the world's biggest producers of memory chips is also expected to drive the market. All non-volatile memory makers rely heavily on it. One of the main drivers of this consumption is the R&D support with significant financial backing for the development and deployment of new technology across industries.
Global corporate operations were impacted by the COVID-19 epidemic. The consumer electronics and business sectors have suffered significantly as a result of the global shutdown, with the manufacturing, retail, and BFSI industries being the most affected. The lockdown had a significant negative impact on manufacturing businesses as practically all of their plants shut down. Due to the scarcity of labor during the epidemic, many manufacturing businesses that produce essential commodities are also unable to continue with production. Therefore, COVID-19 caused a modest drop in the Non-Volatile Memory Market.
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REPORT ATTRIBUTE |
DETAILS |
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Market Size Value in 2021 |
USD 59.35 billion |
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Revenue Forecast in 2032 |
USD 192.4 billion |
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Growth Rate |
CAGR of 11.3% from 2022 to 2032 |
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Base Year for Estimation |
2021 |
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Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
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Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments Covered |
Memory Type, Type, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key Companies Profiled |
Samsung Electronics, Toshiba Corporation, Infineon Technologies AG, Micron Technology Inc., Fujitsu Limited, Texas Instruments Incorporated, SK Hynix Inc., Macronix International Co Ltd., SMART Modular Technologies, Netlist, Crossbar Inc., Avalanche Technology, Viking Technology, Everspin Technologies Inc., Agiga Tech, and Other Prominent Players. |
The Non-Volatile Memory Market size was estimated at USD 59.35 billion in 2021 and is expected to reach USD 192.4 billion in 2032.
Non-volatile memory, aka non-volatile storage, is a type of computer memory that can proficiently keep recorded data even when the power is turned off.
The NAND Flash Memory and Consumer Electronics segments accounted for the larger share of the Non-Volatile Memory Market.
Key players in the Non-Volatile Memory Market are Samsung Electronics, Toshiba Corporation, Infineon Technologies AG, Micron Technology Inc., Fujitsu Limited, Texas Instruments Incorporated, SK Hynix Inc., Macronix International Co Ltd., SMART Modular Technologies, Netlist, Crossbar Inc., Avalanche Technology, Viking Technology, Everspin Technologies Inc., Agiga Tech, and Other Prominent Players.
The global Non-Volatile Memory Market is anticipated to be driven by rising consumer demand for memory devices with quick access and low power consumption.
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