Market Overview 2022-2027:
The latest research study “Non-Volatile Memory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global non-volatile memory market size reached US$ 56.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 111.95 Billion by 2027, exhibiting a CAGR of 11.50% during 2022-2027.
Industry Definition and Application:
Non-volatile memory (NVM), also called non-volatile storage, represents a type of computer memory which can retain saved data even when the power is turned off. It does not require the information to be periodically refreshed. Commonly used NVM include flash memory, hard disks, floppy disk drives, magnetic tapes, read-only memory (ROM), optical disc drives, and other computer storage methods, such as paper tapes and punch cards. This storage system finds widespread applications across several sectors, including retail, information technology (IT), telecommunications, automotive, healthcare, etc.
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The escalating demand for smartphones for communication and other purposes, which use advanced processors to enable fast data transfer and the expanding electronics industry are primarily driving the non-volatile memory market. Besides this, the rising utilization of this storage technique in chips for digital cameras and universal serial bus (USB) sticks is further augmenting the market growth. Moreover, the introduction of advanced NVM technologies, such as magneto resistive random-access memory (MRAM), 3D XPoint, and nano random-access memory (NRAM), is also catalyzing the global market.
Apart from this, the extensive research and development (R&D) activities by the leading players and the increasing number of data centers across countries are acting as significant growth-inducing factors. Furthermore, the growing popularity of flash storage in global positioning systems (GPS), gaming devices, laptops, and electronic musical instruments, on account of its lower price and power consumption, is expected to bolster the non-volatile memory market in the coming years.
|Non-Volatile Memory Market Report Scope|
|Market size value in 2021||US$ 56.38 Billion|
|Market forecast in 2027||US$ 111.95 Billion|
|Growth Rate||CAGR of 11.50% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Industry Vertical and Region|
The report has been segmented the market into following categories:
Breakup by Type:
- Electrically Addressed
- Mechanically Addressed
Breakup by Industry Vertical:
- Telecom and IT
- Consumer Electronics
- Energy and Power
Breakup By Geography:
- North America:( United States, Canada)
- Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Avalanche Technology
- CrossBar Inc.
- Dialog Semiconductor PLC (Renesas Electronics Corporation)
- Fujitsu Limited
- Micron Technology Inc.
- Samsung Electronics Co. Ltd.
- Honeywell International Inc.
- Infineon Technologies AG
- Intel Corporation
- Microchip Technology Inc.
- Texas Instruments Incorporated
- Toshiba Corporation
- Western Digital Corporation.
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