Global Next Generation Non Volatile Memory Business Report 2024: Market to Reach $37.3 Billion by 2030 - Critical Role of Non-volatile Memory in Smart City Applications Bodes well for the Sector

Dublin, April 23, 2024 (GLOBE NEWSWIRE) -- The "Next Generation Non Volatile Memory - Global Strategic Business Report" report has been added to's offering.

Global Next Generation Non Volatile Memory Market to Reach $37.3 Billion by 2030

The global market for Next Generation Non Volatile Memory estimated at US$8.3 Billion in the year 2023, is projected to reach a revised size of US$37.3 Billion by 2030, growing at a CAGR of 20.6% over the analysis period 2023-2030.

The competitive market presence for players worldwide in the next-generation non-volatile memory (NVM) industry is evaluated, distinguishing between strong, active, niche, or trivial market positions. The report provides a prelude to non-volatile memories and offers insights into next-generation volatile memory (NVM), highlighting its significance in the global market.

MRAM, one of the segments analyzed in the report, is projected to record 21.2% CAGR and reach US$20.5 Billion by the end of the analysis period. Growth in the PCM segment is estimated at 18.2% CAGR for the next 8-year period. Additionally, recent market activity is examined to provide up-to-date insights into the dynamics of the next-generation non-volatile memory market.

The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 19.9% CAGR

An analysis of the global market prospects reveals that the next-generation non-volatile memory market is poised for burgeoning growth. MRAM emerges as the leading segment in the market, with advancements contributing to its dominance. The Asia-Pacific region is expected to witness the fastest growth in the market, indicating significant opportunities for industry players.

The Next Generation Non Volatile Memory market in the U.S. is estimated at US$2.7 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$6.3 Billion by the year 2030 trailing a CAGR of 19.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.3% and 17.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 14.1% CAGR.

Key Attributes:

Report AttributeDetails
No. of Pages322
Forecast Period2023 - 2030
Estimated Market Value (USD) in 2023$8.3 Billion
Forecasted Market Value (USD) by 2030$37.3 Billion
Compound Annual Growth Rate20.6%
Regions CoveredGlobal


  • Competition
  • Next Generation Non-Volatile Memory - Global Key Competitors Percentage Market Share in 2022 (E)
  • Next Generation Non Volatile Memory Competitor Market Share Scenario Worldwide (in %): 2022E
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • A Prelude to Non-volatile Memories
  • Next-Generation Volatile Memory (NVM) - An Insight
  • Global Market Analysis and Prospects
  • Global Next Generation Non-volatile Memory Market Set to Witness Burgeoning Growth
  • MRAM - The Leading Next Generation Non-Volatile Memory Segment
  • MRAM Advancements
  • Asia-Pacific to Witness Fastest Growth
  • Recent Market Activity


  • Growing Use of Flash Memories in Consumer Electronics Drives the World NVM Market
  • Rising Computing Needs of Consumer Electronic Devices: Opportunity for NVM Market
  • Global Electrical & Electronics Equipment Market Growth Outlook (In %) For Years 2019 Through 2025
  • Worldwide Shipments of Smartphones, Tablets, and Laptops (in Million Units) for the Years 2019, 2021 and 2023
  • Embedded Non-volatile Memory Market to Gain Traction
  • Technologies for Next-Generation Volatile Memory Designs
  • Pushing the Limits using Floating Gate Technology
  • 3D and Charge Trap NAND
  • RRAM
  • MRAM
  • Tremendous Growth in Demand for Enterprise Storage Applications Drives Market Growth
  • Rising Penetration of IoT devices and Propensity for AI-Powered Applications: A Major Market Opportunity
  • Global Number of IoT Connected Devices (In Billion Units) for the Years 2016, 2018, 2020, 2022 & 2025
  • Global Investments in Industrial IoT (IIoT) Platforms (In US$ Million) for the Years 2018, 2022 and 2025
  • World IoT Semiconductors Market by Function (2018 & 2024E): Percentage Breakdown of Value Sales for Communications, Processing, and Sensing
  • Increasing Growth Prospects of Wearable Electronics to Offer Significant Market Gains
  • Critical Role of Non-volatile Memory in Smart City Applications
  • Global Smart Homes Market by Category in US$ Billion for the Years 2020 and 2024E
  • High-Performance Computing (HPC) Offers Broad-based Opportunities for Market Growth
  • Global High Performance Computing Market (In US$ Billion) for Years 2020, 2022, 2024 and 2026
  • Digitalization Wave & Parallel Rise in Demand for Datacenters to Spur Growth of NVM
  • Global Digital Transformation Spending (In US$ Trillion) for the Years 2019 through 2023
  • Data Center IP Traffic Growth Worldwide: Global Data Center IP Traffic in Zettabytes for the Years 2016, 2018, 2020 & 2024
  • Global Data Center IP Traffic Breakdown (in %) by Cloud and Traditional Data Centers for the Years 2017, 2019, 2021, and 2023
  • Rise of In-Memory Computing Bodes Well for Growth of PCM
  • Embedded MRAM Emerges as a Promising Technology for IoT Devices, Artificial Intelligence and Machine Learning
  • MRAM Opportunity in IoT Space: Global M2M/IoT Connections (In Billion) for Years 2019, 2021 and 2023
  • Growing Need for Energy-Efficient Storage Solutions Gives Impetus to NVM Market
  • Installed Base of Data Storage Capacity (in Zettabytes) for 2019, 2020, and 2024
  • Edge Computing to Drive Demand for MRAM
  • Automobile Electronification Trends Widen the Addressable Market
  • Breakdown of the Total Cost of Electronics in an Automobile (in %) for the Years 1970, 1980, 2000, 2017, 2020 and 2030
  • World Automobile Production in Million Units: 2008-2023


  • Applied Materials, Inc.
  • Capres A/S
  • Everspin Technologies Inc.
  • Canon ANELVA Corporation
  • Avalanche Technology
  • 4DS Memory Ltd.
  • Crossbar Inc.
  • Crocus Nanoelectronics
  • Cobham Advanced Electronic Solutions, Inc.
  • Antaios
  • Blueshift Memory
  • Advanced Memory Technology
  • Fraunhofer Institute for Photonic Microsystems IPMS Center Nanoelectronic Technologies (CNT)
  • DXCorr Design Inc
  • California Memory Technologies - MEMTECH

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Next Generation Non Volatile Memory Market

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