Global Non-Volatile Memory Market – Analysis and Forecast (2021-2027), Micron Technology, Inc., Viking Technology.


Posted December 29, 2021 by industryno1

VynZ Research is a global market intelligence company providing research reports.

 
The global non-volatile memory (NVM) market is anticipated to grow from USD 53.7 billion by 2020 to USD 85.7 billion by 2027, registering a 9.2% CAGR during the forecast period 2021-2027.

Non-volatile memory is a type of computer memory that can retain and retrieve information even when the machine is turned off. It is mainly used for long-term or secondary data storage devices like memory chips for digital cameras and USB memory sticks. NVM eliminates the requirement for storage technologies that are somewhat sluggish like hard drives. In addition, it uses user-configurable technology that does not require memory updates on a regular basis. The widespread adoption of non-volatile memory in the consumer electronics sector and automotive sector will bolster the growth of the market. Thus, the increased demand to have fast access, less power consumption, high speed, and high scalability will fuel the growth of non-volatile memory globally.

The NVM is a sophisticated technology that interacts with AI, data analytics, and IoT, resulting in an increased requirement for efficient data storage possibilities with non-volatile memory. The rising demand for wearable and connected devices, increasing demand for optical discs, flash drives, and computers in the consumer electronics sector increase application in the automotive industry, increased disposable income among people will contribute to the growth of the non-volatile memory market. Thus, the mounting need to have fast, easy access to data, increase in portable system markets and consumption of less power will drive the growth of the market.

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North America contributes to the largest market share in the non-volatile memory market and is one of the largest producers of memory chips globally. The RND support and rising disposable income to develop and adopt advanced technologies across industry verticals will fuel the growth in the region.

Asia-Pacific is anticipated to be the fastest-growing region owing to the new infrastructure construction, surging demand for telecommuting, online entertainment, mounting growth in automotive & consumer electronics manufacturing, and voice and video call services. The rapid advancement of digitalization will led to an increasing trend to build large data centers, leading to the growth of the non-volatile memory market. Also, China is going to enter the flash memory segment with aggressive plan.

Samsung Electronics is one of the leading innovators in the non-volatile memory market and is a leading producer of digital TVs, memory chips, mobile phones, and TFT-LCDs. Foundry, testing, packaging, memory integration, such as DRAM, Flash, and low-power memory, and end-user application products are all offered by the company. To reduce its reliance on the volatile memory chip industry and create semiconductors for self-driving cars and AI-enabled products, the business wants to invest USD 116 billion in non-memory chips by 2030.

In November 2021, Fujitsu Semiconductor Memory Solution Limited has introduced novel 8Mbit FRAM MB85R8M2TA with a parallel interface, which is the first product in Fujitsu’s FRAM product line that guarantees 100 trillion read/write cycle times.

In March 2021, Micron Technology, Inc. has updated the company’s portfolio strategy and is focusing on memory and storage innovations for the data center. Micron will stop the development of 3D XPoint™ and move its resources to focus on accelerating the market introduction of CXL-enabled memory products.

Some of the key players operating in the non-volatile memory market: SAMSUNG, Intel Corporation, TOSHIBA CORPORATION, Western Digital Corporation, FUJITSU, Adesto Technologies Corporation, Micron Technology, Inc., Viking Technology, Yangtze Memory Technologies Co., Ltd., and CrossBar, Inc.

Source: VynZ Research
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Last Updated December 29, 2021