; Non-Volatile Memory Market Size, Industry Share, Analysis, Forecast, 2032

Non-Volatile Memory Market

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

Published on: Jan-2023
Report Code: FG ES 01345
No. of Pages: 170 - 350
Report Format: PDF

[170+ Pages Research Report] Non-Volatile Memory Market to surpass USD 192.4 billion by 2032 from USD 59.35 billion in 2021 at a CAGR of 11.3% throughout the forecast period 2022-32

Product Overview

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.

Market Highlights

The Non-Volatile Memory Market is expected to project a notable CAGR of 11.3% in 2032.

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.

Figure - Market Analysis of Non-Volatile Memory Market


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Non-Volatile Memory Market: Segments

The NAND Flash Memory segment is expected to grow with a higher CAGR during 2022-32

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.

The Consumer Electronics segment is expected to grow with a higher CAGR during 2022-32

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.

Figure - Market Analysis of Global Non-Volatile Memory


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Market Dynamics

Growth Drivers

Surging Adoption in Consumer Electronics and Launch of Advanced Storage Technologies

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.

Heavy Replacement with Non-Volatile Memory and Number of Attractive Benefits

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.

Restraint

Low Endurance of Non-Volatile Memory is a Major Restraining Factor

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.

Recent Developments
  • To support non-volatile code storage in challenging environments, such as aerospace and industrial applications, Infineon Technologies LLC announced the release of second-generation non-volatile Static RAMs in March 2021. These RAMs are qualified for QML-Q and high-reliability industrial specifications.
  • Early in 2021, Samsung reported that it had improved the MTJ function of its MRAM and had enhanced its 14 nm technology to accommodate its embedded flash-type MRAM that was intended to boost write speed and density. The business also aims to use the upcoming NVM IC in wearables, microcontrollers, and IoT devices.
  • Western Digital Corporation and Kioxia Corporation announced the creation of a 162-layer, sixth-generation 3D flash memory technology in February 2021. The most sophisticated and high-density 3D flash memory available from the industry, it makes use of numerous technological and manufacturing advancements.

Non-Volatile Memory Market: Key Players
  • Samsung Electronics

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

  • 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
  • Other Prominent Players

Non-Volatile Memory Market: Region

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.


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Impact of Covid-19 on Non-Volatile Memory Market

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.

Non-Volatile Memory Market is further segmented by region into:
  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Non-Volatile Memory Market report also contains analysis on:

Non-Volatile Memory Market Segments:

  • 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
    • Others 
  • By Application
    • Consumer Electronics
    • Enterprise Storage
    • Automotive & Transportation
    • Military & Aerospace
    • Industrial
    • Telecommunication
    • Energy & Power
    • Healthcare
    • Agricultural
    • Retail
  • Non-Volatile Memory Market Dynamics
  • Non-Volatile Memory Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints

Non-Volatile Memory Market Report Scope and Segmentation

REPORT ATTRIBUTE

DETAILS

Market Size Value in 2021

USD 59.35 billion

Revenue Forecast in 2032

USD 192.4 billion

Growth Rate

CAGR of 11.3% from 2022 to 2032

Base Year for Estimation

2021

Quantitative Units

Revenue in USD billion and CAGR from 2022 to 2032

Report Coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments Covered

Memory Type, Type, Application, and Region

Regional Scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

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.

Frequently Asked Questions (FAQ):

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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