Non-Volatile Memory Market Emerging Trends, Growth Drivers, and Strategies

New York, April 27, 2023 (GLOBE NEWSWIRE) -- -As per the research report “Global Non-Volatile Memory Market” published by Reports Insights, the market was worth USD 5.78 Billion in 2022 and is anticipated to reach over USD 13.50 Billion by the year 2030, growing at a CAGR of 11.19%.

By answering the Key Questions for Non-Volatile Memory Market Report, businesses can make informed decisions and stay ahead of their competitors. 

• What specific segmentation details are covered in the Non-Volatile Memory market report, and how is the dominating segment impacting the market growth ?
  
  - The report consists of segments including Type, Wafer Size, and End-User. Each segment has key dominating sub-segment being driven by the industry trends and market dynamics. For instance, by type segment has witnessed traditional non-volatile memory devices as the dominating segment in the year 2022, due to the ability of non-volatile memory devices to provide both short-term and long-term storage capabilities.
  
  
• What specific segmentation details are covered in the Non-Volatile Memory market report, and how is the fastest segment anticipated to impact the market growth ?
  
  - The report consists of segments including Type, Wafer Size, and End-User. Each segment is projected to have the fastest-growing sub-segment being fueled by industry trends and drivers. For instance, The Wafer Size segment witnessed 200mm non-volatile memory devices as the fastest growing segment during the forecast period. The growth is attributed to the small-size, light-weight and high storage capabilities of the 200mm non-volatile memory devices.
  
  
• Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030 ?
  
  - North America is expected to register fastest CAGR growth during the forecast period. The rise of advanced technologies such as internet of things (IoT), and artificial intelligence (AI) along with the increasing adoption of consumer electronics is accelerating the growth of the market.

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Non-volatile memory (NVM) is a type of permanent storage memory device that stores and preserves data for a long period time. Non-volatile memory devices have the ability to store data even in the absence of a constant power supply. Moreover, the non-volatile memory devices is rewritable in nature, thereby allowing for long-term usage of non-volatile memory devices.

The data centers are generating vast amounts of data that require an efficient storage system to store the information securely. Owing to aforementioned requirements, non-volatile memory devices are playing an important role in facilitating such demands, ultimately driving the market growth. Moreover, Data centers require high storage capacity and data transfer speeds to provide access to applications and data using a complex networks and storage infrastructure. Therefore, The increasing demand for non-volatile memory devices is contributing to the growth of non-volatile memory market. For instance, in November 2021, Fujitsu announced the launch of new 8Mbit FeRAM featuring high read/write endurance, fast writing speed operation and low power consumption. Thus, the ability of non-volatile memory to provide high storage capacity is accelerating the growth of the market.

The emergence of advanced technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML) is expected to provide significant growth opportunities for the growth of the global market. The aforementioned technologies require large amounts of data storage and fast read and write speeds. Thus, the adoption of advanced technologies increases the demand for high-performance, low-power, and reliable memory solutions, thereby contributing to the growth of the market. However, the limited capacity of non-volatile memory devices is the major factor restraining the growth of non-volatile memory (NVM) market.

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Key Market Highlights

• The global non-volatile memory market size is estimated to reach USD 13.50 Billion by 2030 and grow at a CAGR of 11.19% during the forecast period (2023-2030).
• Globally, non-volatile memory market is divided based on the type into Traditional, Emerging, Nanobridge, Quantum Dots, Millipede, Molecular, and Transparent Non-Volatile Memory.
• In the context of Wafer Size, the market is separated into 200 mm, 300mm, and 450mm.
• Based on the End-User, the market is segregated into Consumer Electronics, Industrial, Retail, IT and Telecom, Automotive, Healthcare, and Others.
• The market is geographically divided into five regions: Europe, Latin America, the Asia-Pacific, North America, and Middle East and Africa.
• Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in Robotic Process Automation (RPA).

Non-Volatile Memory Market Growth Drivers:

• The increasing number of data centers generating vast amount of data is driving the growth of non-volatile memory market.
• The increasing adoption of consumer electronics devices such as smartphones, laptops, and tablets are propelling the growth of non-volatile memory market.
• The utilization of non-volatile memory devices in automotive applications such as autonomous driving, commonly known as Advanced Driver Assistance Systems (ADAS), and infotainment systems is boosting the growth of the market.

Restraints

• The limited capacity of non-volatile memory devices is the major factor restraining the growth of non-volatile memory (NVM) market.
• The lower efficiency of NVM devices due to the rewriting capabilities of non-volatile memory devices is hindering the growth of the market.

Opportunities

• The emergence of 5G and advanced technologies such as Artificial Intelligence (AI), and the Internet of Things (IoT) is expected to present potential opportunities for the growth of non-volatile memory market.

Global Non-Volatile Memory Market Segmentation Details:

Based on Type, the traditional non-volatile memory devices contributed the largest shares to the market growth in 2022. The high-density storage capabilities, low cost, and compatibility of traditional non-volatile memory devices is driving the growth of this segment. Traditional non-volatile memory devices are widely used in consumer electronic devices, such as smartphones and digital cameras. Moreover, the ability of traditional non-volatile memory devices to offer high-density storage capabilities is contributing to the growth of the market.

Based on Wafer Size, 450 mm segment offered substantial shares to the global non-volatile memory market in the year 2022. the 450mm non-volatile memory devices offer high throughput and processing speeds, resulting in faster production times for new products. Moreover, the ability of 450mm non-volatile memory devices to provide high storage capacities is propelling the growth of the market.

Based on End-User, the consumer electronics segment accounted for the maximum revenue share in the year 2022. The growing adoption of consumer electronics devices generated vast amount of data that needs to be stores in non-volatile memory devices. The utilization of devices such as smartphones, laptops, and tablets for streaming, video-calling, and gaming purposes is accelerating the growth of the market. Furthermore, the adoption of advanced technologies such as the Internet of Things (IoT) is contributing to the growth of the market.

Based on region, the Asia-Pacific region accounted for the largest revenue share in the year 2022. The growing adoption of consumer electronics devices along with the increasing number of data centers in the region is driving the growth of the market. The application of cloud computing in data centers to manage the vast amount of data generated is contributed to the growth of the regional market.

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Recent Developments

• In June 2022, Micron Technology announced the launch of 176-Layer NAND SATA SSD for application in data centers.
• In December 2020, TDK Corporation introduced new generation of flash memory storage products suitable for industrial, medical, smart grid, transportation and security applications.

List of Major Global Non-Volatile Memory Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

• Samsung Electronics Co.
• IBM Corporation
• STMicroelectronics
• Western Digital Technologies, Inc.
• Micron Technology, Inc.
• ROHM CO. LTD.
• Renesas Electronics Corporation
• Spin Transfer Technologies
• Fujitsu Ltd.
• Cross Inc.
• ATP Electronics, Inc.

Global Non-Volatile Memory Market Segmentation: 

• By Type
  • Traditional Non-Volatile Memory
  • Emerging Non-Volatile Memory
  • Transparent Non-Volatile Memory
  • Molecular Non-Volatile Memory
  • Nanobridge
  • Quantum Dots
• By Wafer Size

• 200 mm
• 300mm
• 450mm 

• By End-User
  • Consumer Electronics
  • Industrial
  • Retail
  • IT and Telecom
  • Automotive
  • Healthcare
  • Others

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1. By answering the Key Questions Covered in the Non-Volatile Memory Market Report, businesses can make informed decisions and stay ahead of their competitors.