MRAM market 2022-2026: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio

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Jan 30, 2023, 11:00 ET

NEW YORK, Jan. 30, 2023 /PRNewswire/ --According to Technavio, the global MRAM market size is estimated to grow by USD 1.43 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 37.39%. Moreover, the growth momentum will accelerate. APAC will account for 37% of the growth of the global market during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. To know more, Buy the report!

Technavio has announced its latest market research report titled Global MRAM Market

Global MRAM market - Five forces
The global MRAM market is fragmented, and the five forces analysis covers–

Bargaining power of buyers
The threat of new entrants
Threat of rivalry
Bargaining power of suppliers
Threat of Substitutes
For interpretation of Porter's five forces model – Request a sample report

Global MRAM market – Customer landscape

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global MRAM market - Segmentation assessment

Segment overview
Technavio has segmented the market based on end-user (automotive and aerospace and defense, enterprise storage, consumer electronics, and robotics) and type (STT, MRAM, and T MRAM).

The automotive and aerospace, and defense segment will account for a significant share of the global market during the forecast period. This segment includes products such as aircraft and automotive powertrains. Air travel has increased significantly since 2018 owing to affordable air ticket pricing and the availability of more routes. Moreover, the demand for products such as aircraft is increasing due to uncertainties caused by tensions in the Middle East, Eastern Europe, North Korea, and the East and South China Seas, thereby increasing the defense budgets. These factors will drive the growth of the market during the forecast period.

Geography overview
Based on geography, the global MRAM market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global MRAM market.

APAC will account for 37% of the market's growth during the forecast period. The US is a key country for the MRAM market in APAC. The growth of the market is attributed to factors such as the presence of leading players, and growing R&D. MRAM technology offers various advantages, such as low power consumption and faster write speed. Hence, MRAM is used in various consumer electronic devices. This, in turn, will boost the demand for MRAM module technology in the region.

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Global MRAM market – Market dynamics
Key factor driving market growth

Low-power consumption is driving the growth of the market.
MRAM technologies are used in battery-powered wireless sensors, as they consume 50% less power than other flash memories, which increases the battery life.
This also enables OEMs to integrate MRAM technology into the devices.
The MRAM module has features such as faster access time and non-volatile data storage.
These factors drive the demand for MRAM modules, which, in turn, will fuel the growth of the market during the forecast period.

Leading trends influencing the market

The integration of MRAM into the smartphone market is a key trend in the MRAM market.
MRAM is a type of working memory in ultra-low power applications.
Next-generation MRAM will support real-time vision processing and 3D mapping.
The growth of smartphone devices is driven by factors such as the growth of technology and innovations.
Moreover, several vendors have been conducting research on MRAM technology.
These factors will support the growth of the market during the forecast period.

Major challenges hindering the market growth

The memory density issue will challenge the MRAM market growth during the forecast period.
Storage devices such as data servers and cloud-based devices need more than 1GB of storage.
However, the density of the memory module is very low, which decreases the adoption and sales of MRAM modules.
These factors will impede the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this MRAM Market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the MRAM market between 2022 and 2026
Precise estimation of the size of the MRAM market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the MRAM market across North America, APAC, Europe, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of MRAM market vendors

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MRAM Market Scope
Report Coverage	Details
Page number	151
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 37.39%
Market growth 2022-2026	USD 1.43 billion
Market structure	Fragmented
YoY growth 2021-2022 (%)	27.0
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 37%
Key countries	US, Canada, China, Japan, and Germany
Competitive landscape	Leading vendors, market positioning of vendors, competitive strategies, and industry risks
Key companies profiled	Avalanche Technology Inc., Canon Inc., Cobham Advanced Electronic Solutions, CROCUS NANO ELECTRONICS LLC, Everspin Technologies Inc., Fujitsu Ltd., Honeywell International Inc., imec VZW, International Business Machines Corp., KLA Corp., MEMTECH, Numem Inc., NVE Corp., Renesas Electronics Corp., Samsung Electronics Co. Ltd., SK Inc., SPIN MEMORY INC., Taiwan Semiconductor Manufacturing Co. Ltd., Teledyne Technologies Inc., and Toshiba Corp.
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

5.1 Market segments

Exhibit 25: Chart on End-user - Market share 2021-2026 (%)
Exhibit 26: Data Table on End-user - Market share 2021-2026 (%)

5.2 Comparison by End-user

Exhibit 27: Chart on Comparison by End-user
Exhibit 28: Data Table on Comparison by End-user

5.3 Automotive and aerospace and defense - Market size and forecast 2021-2026

Exhibit 29: Chart on Automotive and aerospace and defense - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Data Table on Automotive and aerospace and defense - Market size and forecast 2021-2026 ($ million)
Exhibit 31: Chart on Automotive and aerospace and defense - Year-over-year growth 2021-2026 (%)
Exhibit 32: Data Table on Automotive and aerospace and defense - Year-over-year growth 2021-2026 (%)

5.4 Enterprise storage - Market size and forecast 2021-2026

Exhibit 33: Chart on Enterprise storage - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Data Table on Enterprise storage - Market size and forecast 2021-2026 ($ million)
Exhibit 35: Chart on Enterprise storage - Year-over-year growth 2021-2026 (%)
Exhibit 36: Data Table on Enterprise storage - Year-over-year growth 2021-2026 (%)

5.5 Consumer electronics - Market size and forecast 2021-2026

Exhibit 37: Chart on Consumer electronics - Market size and forecast 2021-2026 ($ million)
Exhibit 38: Data Table on Consumer electronics - Market size and forecast 2021-2026 ($ million)
Exhibit 39: Chart on Consumer electronics - Year-over-year growth 2021-2026 (%)
Exhibit 40: Data Table on Consumer electronics - Year-over-year growth 2021-2026 (%)

5.6 Robotics - Market size and forecast 2021-2026

Exhibit 41: Chart on Robotics - Market size and forecast 2021-2026 ($ million)
Exhibit 42: Data Table on Robotics - Market size and forecast 2021-2026 ($ million)
Exhibit 43: Chart on Robotics - Year-over-year growth 2021-2026 (%)
Exhibit 44: Data Table on Robotics - Year-over-year growth 2021-2026 (%)

5.7 Market opportunity by End-user

Exhibit 45: Market opportunity by End-user ($ million)

6 Market Segmentation by Type

6.1 Market segments

Exhibit 46: Chart on Type - Market share 2021-2026 (%)
Exhibit 47: Data Table on Type - Market share 2021-2026 (%)

6.2 Comparison by Type

Exhibit 48: Chart on Comparison by Type
Exhibit 49: Data Table on Comparison by Type

6.3 STT MRAM - Market size and forecast 2021-2026

Exhibit 50: Chart on STT MRAM - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on STT MRAM - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on STT MRAM - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on STT MRAM - Year-over-year growth 2021-2026 (%)

6.4 T MRAM - Market size and forecast 2021-2026

Exhibit 54: Chart on T MRAM - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on T MRAM - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on T MRAM - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on T MRAM - Year-over-year growth 2021-2026 (%)

6.5 Market opportunity by Type

Exhibit 58: Market opportunity by Type ($ million)

7 Customer Landscape

7.1 Customer landscape overview

Exhibit 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation

Exhibit 60: Chart on Market share by geography 2021-2026 (%)
Exhibit 61: Data Table on Market share by geography 2021-2026 (%)

8.2 Geographic comparison

Exhibit 62: Chart on Geographic comparison
Exhibit 63: Data Table on Geographic comparison

8.3 North America - Market size and forecast 2021-2026

Exhibit 64: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 65: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 66: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 67: Data Table on North America - Year-over-year growth 2021-2026 (%)

8.4 APAC - Market size and forecast 2021-2026

Exhibit 68: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 69: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 70: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 71: Data Table on APAC - Year-over-year growth 2021-2026 (%)

8.5 Europe - Market size and forecast 2021-2026

Exhibit 72: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 73: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 74: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 75: Data Table on Europe - Year-over-year growth 2021-2026 (%)

8.6 South America - Market size and forecast 2021-2026

Exhibit 76: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 77: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 78: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 79: Data Table on South America - Year-over-year growth 2021-2026 (%)

8.7 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 80: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 81: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 82: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 83: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

8.8 US - Market size and forecast 2021-2026

Exhibit 84: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 85: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 86: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 87: Data Table on US - Year-over-year growth 2021-2026 (%)

8.9 China - Market size and forecast 2021-2026

Exhibit 88: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 89: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 90: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 91: Data Table on China - Year-over-year growth 2021-2026 (%)

8.10 Germany - Market size and forecast 2021-2026

Exhibit 92: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 93: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 94: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 95: Data Table on Germany - Year-over-year growth 2021-2026 (%)

8.11 Canada - Market size and forecast 2021-2026

Exhibit 96: Chart on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 97: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 98: Chart on Canada - Year-over-year growth 2021-2026 (%)
Exhibit 99: Data Table on Canada - Year-over-year growth 2021-2026 (%)

8.12 Japan - Market size and forecast 2021-2026

Exhibit 100: Chart on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 101: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 102: Chart on Japan - Year-over-year growth 2021-2026 (%)
Exhibit 103: Data Table on Japan - Year-over-year growth 2021-2026 (%)

8.13 Market opportunity by geography

Exhibit 104: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

Exhibit 105: Impact of drivers and challenges in 2021 and 2026

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption

Exhibit 107: Overview on factors of disruption

10.4 Industry risks

Exhibit 108: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered

Exhibit 109: Vendors covered

11.2 Market positioning of vendors

Exhibit 110: Matrix on vendor position and classification

11.3 Avalanche Technology Inc.

Exhibit 111: Avalanche Technology Inc. - Overview
Exhibit 112: Avalanche Technology Inc. - Product / Service
Exhibit 113: Avalanche Technology Inc. - Key offerings

11.4 CROCUS NANO ELECTRONICS LLC

Exhibit 114: CROCUS NANO ELECTRONICS LLC - Overview
Exhibit 115: CROCUS NANO ELECTRONICS LLC - Product / Service
Exhibit 116: CROCUS NANO ELECTRONICS LLC - Key offerings

11.5 Everspin Technologies Inc.

Exhibit 117: Everspin Technologies Inc. - Overview
Exhibit 118: Everspin Technologies Inc. - Product / Service
Exhibit 119: Everspin Technologies Inc. - Key offerings

11.6 Honeywell International Inc.

Exhibit 120: Honeywell International Inc. - Overview
Exhibit 121: Honeywell International Inc. - Business segments
Exhibit 122: Honeywell International Inc. - Key news
Exhibit 123: Honeywell International Inc. - Key offerings
Exhibit 124: Honeywell International Inc. - Segment focus

11.7 KLA Corp.

Exhibit 125: KLA Corp. - Overview
Exhibit 126: KLA Corp. - Business segments
Exhibit 127: KLA Corp. - Key news
Exhibit 128: KLA Corp. - Key offerings
Exhibit 129: KLA Corp. - Segment focus

11.8 NVE Corp.

Exhibit 130: NVE Corp. - Overview
Exhibit 131: NVE Corp. - Product / Service
Exhibit 132: NVE Corp. - Key offerings

11.9 Renesas Electronics Corp.

Exhibit 133: Renesas Electronics Corp. - Overview
Exhibit 134: Renesas Electronics Corp. - Business segments
Exhibit 135: Renesas Electronics Corp. - Key offerings
Exhibit 136: Renesas Electronics Corp. - Segment focus

11.10 SPIN MEMORY INC.

Exhibit 137: SPIN MEMORY INC. - Overview
Exhibit 138: SPIN MEMORY INC. - Product / Service
Exhibit 139: SPIN MEMORY INC. - Key offerings

11.11 Taiwan Semiconductor Manufacturing Co. Ltd.

Exhibit 140: Taiwan Semiconductor Manufacturing Co. Ltd. - Overview
Exhibit 141: Taiwan Semiconductor Manufacturing Co. Ltd. - Product / Service
Exhibit 142: Taiwan Semiconductor Manufacturing Co. Ltd. - Key offerings

11.12 Teledyne Technologies Inc.

Exhibit 143: Teledyne Technologies Inc. - Overview
Exhibit 144: Teledyne Technologies Inc. - Business segments
Exhibit 145: Teledyne Technologies Inc. - Key news
Exhibit 146: Teledyne Technologies Inc. - Key offerings
Exhibit 147: Teledyne Technologies Inc. - Segment focus

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

Exhibit 148: Inclusions checklist
Exhibit 149: Exclusions checklist

12.3 Currency conversion rates for US$

Exhibit 150: Currency conversion rates for US$

12.4 Research methodology

Exhibit 151: Research methodology
Exhibit 152: Validation techniques employed for market sizing
Exhibit 153: Information sources

12.5 List of abbreviations

Exhibit 154: List of abbreviations

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