New York, Feb. 15, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research estimates, the global Non-volatile Memory Market is set to surge from a worth of US$ 64.5 billion in 2022 to US$ 70.3 billion in 2023. A CAGR of 8.0% is anticipated between 2023 and 2033. By 2033, the market is expected to be worth US$ 152.0 billion.
The semiconductor industry has shown increased interest in non-volatile memory (NVM) technologies for mass storage applications over the past ten years as demand for portable systems has surged. Due to rising need for products with low power consumption, quick memory allocation, and high efficiency, the non-volatile memory market is escalating worldwide.
In the burgeoning consumer electronics sector, users demand their devices to continuously gain power, offer new capabilities at incredible speeds, and save more music, movies, and photographs. Flash has played a key role in encouraging creativity over the past two decades, but it has reached maximum scaling limits and has to be replaced by a new generation of memory.
Growing market penetration and demand for consumer devices have made device flash storage applications conceivable. This kind of memory is extensively used in electronic musical instruments, laptops, cell phones, and digital cameras. It has been enthusiastically embraced by numerous data center solution suppliers. With the advent of cloud technologies, data center demand is elevating quickly.
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Information can be kept in non-volatile memory even if the power source is turned off. Non-volatile memory is used in a variety of sectors, including retail, energy & power, consumer electronics, medicine, automobiles & mobility, industrial, enterprise storage, military & aerospace, and telecommunications.
The market is also growing as a result of more research being conducted in this field. For instance, second-generation non-volatile Static random access memory will be available starting in March 2021, according to Infineon Technologies LLC.
They adhere to both QML-Q and high-reliability industrial requirements. Additionally, they are particularly made to support the storing of non-volatile code in demanding settings like those seen in commercial and aviation industries.
Key Takeaways from Non-Volatile Memory Market Report
- By 2033, the non-volatile memory industry in the USA is projected to expand significantly, reaching a value of US$ 24.6 billion.
- The United Kingdom non-volatile memory market is anticipated to surge at a CAGR of 6.4% during the forecast period.
- By 2033, it is expected that the non-volatile memory market in Japan would be worth US$ 23.4 billion.
- In the following ten years, the non-volatile memory market in South Korea is anticipated to surge at a CAGR of 8.5%.
- The consumer electronics category is anticipated to see a CAGR of 7.8% from 2023 to 2033, in terms of application.
“In contrast to storage systems, which require regular updates, non-volatile memory (NVM) is based on user-configurable technology. Non-volatile memory (NVM) is anticipated to be widely employed by consumer electronics companies globally due to its inexpensive cost and low energy requirements,” says a lead analyst at Persistence Market Research.
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Competitive Landscape: Non-Volatile Memory Market
Powerful rivals abound in the non-volatile memory sector. Effectiveness of competitive strategy, levels of market saturation, and innovation-based sustainable competitive advantage are the main drivers of industrial competitiveness. Due to significant capital requirements, the international market has considerable exit barriers.
Key Companies-
- Samsung Electronics
- Toshiba Corporation
- Micron Technology
- SK Hynix
- Western Digital
- Adesto Technologies
- Intel Corporation
- Microchip Technology
- Nantero
- Crossbar Inc.
For instance,
- In July 2022, the MX25UW51245G Serial NOR from a Taiwan-based non-volatile memory manufacturer named Macronix International Co Ltd. was released. Renesas Electronics Corporation has chosen flash memory for its generation 4 chipsets in automobile computers. The boot memory for computer reference designs is anticipated to come from the flash memory. It is also predicted to reach up to 400MB/s. The business is currently a participant in the Renesas RZ partner ecosystem solutions program.
- In November 2021, Macronix International Co Ltd, Taiwan-based non-volatile memories manufacturer announced that they have become the first player in the industry for Serial NOR flash memory manufacturing in order to bring 1.2V devices for mass production. These memories have ultra-low power features. They are used in artificial intelligence (AI), wireless communication technologies such as 5G, narrowband internet of things, handheld Bluetooth devices, and Wi-Fi. Low power consumption feature helps in being used in medical grade wearables, battery powered devices, and portable healthcare devices.
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Get More Valuable Insights into Non-Volatile Memory Market
Persistence Market Research, in its new offering, provides an unbiased analysis of the non-volatile memory market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the non-volatile memory market based on
- type (traditional non-volatile memory, emerging non-volatile memory),
- wafer size (200mm, 300mm, 450mm),
- end user (consumer electronics, enterprise storage, automotive & transportation, military & aerospace, industrial, telecommunication, energy & power, healthcare, agriculture, retail),
- region.
About the Semiconductor and Electronics Division at Persistence Market Research
Persistence Market Research's highly experienced semiconductor and electronics team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the technology business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.
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