Vancouver, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The global Nano Random Access Memory (NRAM) market size was USD 93.46 Million in 2022 and is expected to register a steady revenue CAGR of 24.7 % during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of NRAMs in High Performance Computing (HPC) is a key factor driving market revenue growth. Globally, HPC firms and data centers are significantly introducing NRAM in cloud computing applications. In addition, rising global Internet penetration is further accelerating cloud and edge computing, which is another key factor driving revenue growth of the market. According to International Telecommunication Union (ITU), 5.3 billion people or 66% of the world population are using Internet in 2022.
Moreover, rapid usage of NRAM in high radiation aerospace and medical devices applications is also expected to drive market revenue growth during the forecast period. Flash memory has constraints in terms of speed, power, cost, and endurance, designers confront both economic and technical hurdles when incorporating flash memory into SoCs. As a result, companies are significantly incorporating NRAM in high-radiation applications. Nano RAM is overcoming radiation sensitivity issues and high-quality medical imaging requirements are increasing due to the increased frequency of Noncommunicable Diseases (NCDs). However, technical challenges of embedding flash memory onto System on a Chip (SoCs) is a key factor, which could restrain market revenue growth.
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Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 93.46 Million |
| CAGR (2023–2032) | 24.7 % |
| Revenue Forecast To 2032 | USD 857.24 Million |
| Base Year Of Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Type, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Nantero, Inc., Metrohm AG, Micron Technology, Inc., Infineon Technologies AG, Samsung Electronics Co., Ltd., Analog Devices, Inc., CrossBar, Inc., Western Digital Corporation, NXP Semiconductors N.V., and SK hynix Inc. |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global Nano Random Access Memory (NRAM) Market is consolidated, with few players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new solutions and services. Some major players included in the global Nano Random Access Memory (NRAM) Market report are:
- Nantero, Inc.
- Metrohm AG
- Micron Technology, Inc.
- Infineon Technologies AG
- Samsung Electronics Co., Ltd.
- Weebit-Nano Ltd.
- Analog Devices, Inc.
- CrossBar, Inc.
- Western Digital Corporation
- NXP Semiconductors N.V.
- SK hynix Inc.
Strategic Development
- On 2May 2023, Weebit Nano received an investment of USD 40 million to accelerate to accelerate resistive RAM (ReRAM). ReRAM technology offers distinct advantages over other Nonvolatile Memory (NVM) technologies, in terms of speed and write endurance. These characteristics make it highly suitable for various applications, providing electronics designers with a novel tool to drive ongoing innovation.
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Some Key Highlights From the Report
- The Carbon Nanotube RAM (CNT-RAM) equipment segment is expected to account for largest revenue share in the global NRAM market over the forecast period. This is because RAM incorporates carbon nanotubes, which are exceptionally robust carbon-based structures. These technologies are widely used in the creation of NRAM products. In addition, NRAM can be produced utilizing current Dynamic Random Access Memory (DRAM), flash, and system production facilities, with the addition of a CNT cartridge in the manufacturing process.
- The Information Technology (IT) is expected to register steadily fast revenue growth rate in the global NRAM market over the forecast period. This is because N-RAM) has a high impact on IT for its unique qualities and advantages such as reliability, high-density storage, and great energy efficiency. These NRAMs are rapidly being used in HPC and data centers for quick data access and low latency read and write operations.
- The North America market accounted for largest revenue share in the global NRAM market in 2022 attributed to rapid advancements of High-Performance Computing (HPC). Nano RAM is frequently used in applications requiring high-speed data access and low latency such as data centers, Artificial Intelligence (AI), and Machine Learning (ML). Under the U.S. CHIPS and Science Act, the U.S. government is funding semiconductor production and fabrication.
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Emergen Research has segmented the global NRAM market on the basis of type, end-use, and region:
- Type Outlook (Revenue, USD Million; 2019-2032)
-
- Carbon Nanotube RAM (CNT-RAM)
- Resistive RAM (ReRAM or RRAM)
- Phase-Change Memory (PCM or PRAM)
- Others
- End-use Outlook (Revenue, USD Million; 2019-2032)
-
- Consumer Electronics
- Information technology
- Automotive and Transportation
- Aerospace and Defense
- Medical Devices
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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