Valued to be $11.8 Billion by 2026, Next Generation Non-Volatile Memory Slated for Robust Growth Worldwide

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Mar 28, 2022, 10:30 ET

SAN FRANCISCO, March 28, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Next Generation Non-Volatile Memory - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Valued to be $11.8 Billion by 2026, Next Generation Non-Volatile Memory Slated for Robust Growth Worldwide

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Edition: 8; Released: March 2022
Executive Pool: 853
Companies: 61 - Players covered include Adesto Technologies; Avalanche; Crossbar Inc.; Cypress; Everspin Technologies; Fujitsu Ltd; IBM Corp; Intel Corp; Microchip; Micron Technology; Samsung Electronics Co. Ltd; SK Hynix; Toshiba Corporation; Western Digital and Others.
Coverage: All major geographies and key segments
Segments: Product Type (MRAM, PCM, FeRAM, Other Product Types); Application (Cache Memory & Enterprise Storage, Mobile Phones, Industrial & Automotive, Mass Storage, Embedded MCU & Smart Cards)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Next Generation Non-Volatile Memory Market to Reach US$11.8 Billion by the Year 2026
Next-generation memory is a suitable alternative for the currently available memories such as Flash and SRAM. Next-generation memories comprise Ferroelectric Random Access Memory (FeRAM), Phase-Change Memory (PCM), MRAM (Magneto-resistive Random Access Memory), and ReRAM (Resistive Random Access Memory). They are likely to gain mainstream status in the forthcoming years. Next-generation NVM technologies provide multiple benefits to the main memory of a computing system, which leads to a substantial reduction in power consumption. Next-generation NVM technologies have traditionally attracted attention from electronics manufacturers. However, in the past few years, these technologies have gained prominence among client computers and data centers. Increasing requirement for scalability, simple structure, and quick read-and-write performance is the major factor behind the growing significance of next-generation NVM technologies. Additionally, next-generation NVMs can be easily incorporated with the existing metal-oxide-semiconductor process.

Recent developments in cache memory and spin logic devices have spurred several manufacturing companies in certain developed and developing nations to make investments for developing these technologies. The growing adoption of devices such as smartphones, laptops, tablets, and PCs are driving gains in the next-generation memory solutions market. The rising need for universal memory devices is also stimulating market growth. Such data storage devices have DRAM's cost advantages, SRAM's speed, and flash memory's non-volatility. The on-going developments being made in advanced memory solutions is also boding well for the market. Further, the growing need for efficient, high speed, and affordable memory solutions, supported by the increasing computing technology developments and growth in cryptocurrency mining globally, are also likely to contribute to market growth.

Amid the COVID-19 crisis, the global market for Next Generation Non-Volatile Memory estimated at US$3.6 Billion in the year 2022, is projected to reach a revised size of US$11.8 Billion by 2026, growing at a CAGR of 32.6% over the analysis period. MRAM, one of the segments analyzed in the report, is projected to grow at a 33.7% CAGR to reach US$7.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the PCM segment is readjusted to a revised 30.5% CAGR for the next 7-year period. This segment currently accounts for a 26.3% share of the global Next Generation Non-Volatile Memory market. Among NGM technologies, MRAM holds a significant share and is expected to register decent growth in the coming years due to a confluence of factors such as high endurance, improved performance, low power consumption, high write speeds and better scalability when compared to the other available nonvolatile memory technologies. MRAM is especially beneficial for applications that write more to NOR flash. Demand for MRAM is expected to witness strong growth in the near future, eventually replacing the traditional volatile memories such as SRAM and DRAM.

The U.S. Market is Estimated at $1.3 Billion in 2022, While China is Forecast to Reach $2.7 Billion by 2026
The Next Generation Non-Volatile Memory market in the U.S. is estimated at US$1.3 Billion in the year 2022. The country currently accounts for a 35.5% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.7 Billion in the year 2026 trailing a CAGR of 38.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 31.2% and 28.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 27% CAGR while Rest of European market (as defined in the study) will reach US$884 Million by the end of the analysis period. The North American region has several experienced investments in the NVM technology and has the highest adoption rate of different technologies like DRAM, PCM memory, and RAM, due to extensive use of laptops, mobile phones, and other devices in North America. Several trends like BYOD in the North American regions are estimated to be the prospective market for the NVM market. The market in APAC is expected to record strong growth due to the rising tablets and smartphones demand. Further, the presence of leading companies engaged in the next generation non-volatile memory business in countries such as South Korea, India, and China is expected to bode well for the market.

FeRAM Segment to Reach $1.3 Billion by 2026
In the global FeRAM segment, USA, Canada, Japan, China and Europe will drive the 27.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$264.2 Million will reach a projected size of US$1.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$129.8 Million by the year 2026.
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