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 Non-Volatile Memory Market Analysis 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.
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.
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Non-Volatile Memory Market Segmentation
The global non-volatile memory market is segmented on the basis of the type, application and vertical. The type size segment is classified emerging and traditional. However, the traditional segment comprises of FLASH, non-volatile SRAM, embedded non-volatile memory, EPROM and SPROM. Out of which, embedded non-volatile memory is expected to hold the largest market of the traditional non-volatile memory market. This is owing to the increasing demand for embedded non-volatile memory in the connected devices market.
Regional Analysis:
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.
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