New York, US, April 26, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Magneto Resistive RAM Market” information by Product, by Application and Region – Forecast to 2027” market size to reach USD 1396.7 million, growing at a compound annual growth rate of 18.58% by 2027.
Market Scope:
The global magneto resistive RAM market is expected to witness rapid revenue growth in the next few years. Vast adoption of MRAN generations focusing on spin-transfer torque MRAM (STT-MRAM) solutions would drive the MRAM market growth.
Magneto resistive RAM (MRAM) delivers the most robust, high-performance non-volatile memory for mission-critical applications, including industrial IoT (IIoT) and data centers. MRAM is particularly used for its low power consumption in micro-controllers and systems on chips. Various MRAM technologies are currently receiving the greatest attention.
Dominant Key Players on Magneto Resistive RAM Market Covered are:
- NVE Corporation (US)
- Everspin Technologies Inc. (US)
- Toshiba Corporation (Japan)
- Spin Memory Inc. (US)
- Honeywell International Inc. (US)
- Avalanche Technology Inc. (US)
- Numem Inc. (US)
- Taiwan Semiconductor Manufacturing Company Limited (Taiwan)
- Samsung Electronics Co. Ltd (South Korea)
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Market USP Exclusively Encompassed:
Market Drivers
With the increasing availability of commercial MRAM solutions for large and diverse applications, MRAM stores data using magnetic charges and offers the most dependable storage solution. Magneto resistive RAM (MRAM) products are poised to disrupt the traditional memory markets. Besides, the rising adoption of MRAM for dependable storage solutions creates significant MRAM market demand.
Magneto resistive RAM technology is extensively used to develop low-power electronic devices. In the future, MRAM devices will be used in frequent charging of wireless electronic devices such as IoT devices, mobile phones, etc., to significantly reduce charging time. It would be useful, especially for industrial applications where sensors are installed in the most inaccessible locations.
These low power and high-density memory devices are also helpful in reducing global energy footprint and saving energy and can be used for extra computational tasks. Additionally, innovative MRAM technology is used in the master powertrain system of all-electric luxury vehicles. These memory devices simplify the system design and reduce the power and size requirements of the system used in aircraft. By unifying the memory architecture, MRAM can improve overall system reliability and life.
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Segmentation of Market Covered in the Research:
The MRAM market is segmented into products, applications, and regions. Of these, the product segment comprises STT, Toggle, and others. The application segment comprises aerospace & defense, automotive, robotics, consumer electronics, enterprise storage, and others. The region segment comprises the Asia Pacific, Americas, Middle East &Africa, Europe, and the Rest-of-the-World.
Regional Analysis
North America accounts for the largest magneto resistive RAM market share globally. The region perceives rapid growth in research activities in ushering MRAM, which has already reached commercial-scale production embedded in the system semiconductor fabrication. Besides, researches into the realm of in-memory computing to expand the frontier of the next-generation low-power AI chip technologies impacts the MRAM market growth positively.
The presence of several notable players rendering technical expertise and well-established technology development centers boosts the region’s market shares. Moreover, the growing adoption of MRAM in consumer electronics & robotics, automotive, alongside the rising demand for MRAM in various end-use applications to achieve scalability and improve the memory capacity, fosters market revenues.
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Competitive Landscape
The MRAM market appears highly competitive, with the presence of many prominent companies having an international and regional presence. These companies aggressively target increased participation through partnerships and collaborations to expand their operations and offerings to potential clientele. Many industry players are increasingly working on finding new application areas for MRAM.
For instance, on Jan.12, 2022, Samsung Electronics, a world leader in advanced semiconductor technology, demonstrated the world’s first MRAM-based in-memory computing. In standard computer architectures, data is stored in memory chips, and data computing is executed in separate processor chips.
In-memory computing is a new computing model that seeks to perform both data storage and data computing in a memory network. As this scheme can process a large amount of data stored within the memory network itself without moving the data, the data processing in the memory network is executed in a highly parallel manner, and power consumption is significantly reduced.
Thus, in-memory computing has emerged as one of the promising technologies to realize next-generation low-power AI semiconductor chips. Samsung’s research in making next-generation AI semiconductors with MRAM shows its leadership in-memory technology and effort to merge memory and system semiconductors for next-generation artificial intelligence (AI) chips.
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Industry Trends
Advances in computing and storage technology are shaping the dynamics of electronic data. This relatively new memory technology could alter computing and storage and replace all current RAM technologies. MRAM can be used for AI processing and to make high-power and efficient AI chips.
MRAM’s solid-state memory network may be used as a platform to mimic the brain by modeling the brain’s synapse connectivity in the future. MRAM chips could eventually replace the high-speed memory in a computer and flash memory in cell phones and digital cameras.
Additionally, factors such as the increasing need for cloud computing due to increased data centers worldwide push the market value. Also, the increase in the production of new mobile computing devices is a major tailwind increasing data center usage among various organizations. Furthermore, the growing demand for wearables and more flexible electronic products creates vast market demand.
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