Dublin, June 28, 2024 (GLOBE NEWSWIRE) -- The "Global Embedded Non-Volatile Memory (eNVM) Market: Analysis By Type (eFLASH, eE2PROM, FRAM, and Others), By Application (Consumer Electronics, Automotive, Healthcare Monitoring, Enterprise Storage, and Other Applications), By Region Size, Trends and Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global eNVM market value stood at US$401.86 million in 2023, and is expected to reach by US$724.68 million by 2029. The market is expected to grow at a CAGR of 11% over the projected period of 2024-2029.
The global eNVM market demonstrated a consistent growth, primarily driven by the growing need for better security in hardware, rising demand for industrial-grade flash memory, increasing popularity of cloud-based services, rapidly expanding automotive industry, increasing demand for efficient data storage & processing, proliferation of internet of things (IoT) devices & wearable technology, rising adoption of advanced consumer electronics, ongoing improvements in semiconductor fabrication technologies, growing smart city projects, increased need for high-speed, low-power, & dependable memory solutions, etc.
Furthermore, increasing integration of cutting-edge technologies like artificial intelligence, machine learning, and blockchain, growing need for lightweight and miniature devices at comparatively lower cost, rising adoption of smart cars among consumers, growing adoption of eNVM in code storage applications, and ongoing eNVM integration on SiP and SoC architecture is expected to boost the market growth in the forecasted period.
Market Segmentation Analysis:
By Type: The report provides the bifurcation of the global eNVM market into four segments on the basis of type: eFLASH, eE2PROM, FRAM, and others. eFLASH is the largest segment of global embedded non-volatile memory market owing to increasing deployment of IoT, reduced cost of producing eFLASH memory, rapidly expanding automotive sector, standardization of eFLASH technology and its compatibility with existing semiconductor processes, ongoing advancements in the semiconductor technology, and extensive use of eFLASH in smartphones, tablets, and other consumer electronics.
eE2PROM is the fastest growing segment of global embedded non-volatile memory market as a result of growing demand for secure and reliable storage in smart cards and RFID tags, increasing shift towards industrial automation, wide operating temperature range of eE2PROM devices, compliance of E2PROM devices with various industry standards & certifications, ongoing advancements in miniaturization of eE2PROM cells, and increasing use of eE2PROM in consumer electronics for storing user settings, configuration parameters, and calibration data.
By Application: The report has segmented the global eNVM market into five applications, namely, consumer electronics, automotive, healthcare monitoring, enterprise storage, and other applications. Consumer electronics is the largest and fastest growing segment of the global embedded non-volatile memory, driven by growing demand for larger storage capacities in consumer electronics devices, increasing adoption of solid-state drives, proliferation of smart devices including smartphones, tablets, wearables, smart TVs, & smart home appliances, rapidly expanding electronics sector, growing trend of edge computing, rising demand for eNVM solutions that offer robust security features, ongoing trend of miniaturization of devices, and growing popularity of feature-rich devices containing artificial intelligence and high-resolution displays.
By Region: Asia Pacific embedded non-volatile memory market is the largest and fastest growing region of global eNVM market, driven by rising demand for consumer electrical and electronic items, region's strong hold in semiconductor manufacturing and consumer electronics assembly, positive shift of enterprises and end users towards the use of solid-state drive (SSDs), region's high population density resulting in large consumer base, Asia Pacific acting as a significant centre for research and development in electronics and semiconductor technology, region's rapid growth in IoT and consumer electronics markets, and increasing construction of large data centres in countries like India and China.
North America embedded non-volatile memory market has been positively growing over the years as a result of large and technologically savvy consumer base, increasing adoption of advanced technology such as connected devices and 5G smartphones in Canada and Mexico, growing emphasis on domestic manufacturing of electronic components in North America, presence of favorable infrastructure that support high-speed internet services, rising adoption of smart or IoT-based devices, increasing number of data centers being built in response to rising demand for digital entertainment, videoconferencing, and video and phone call services, and strong presence of major eNVM companies including Microchip Technology Inc., Synopsys, Inc., etc.
Competitive Landscape:
The global embedded non-volatile memory market is consolidated, with few players accounting for the majority of market revenue, including eMemory, Microchip (SST), Synopsys and Yield Microelectronics Corp. (YMC), and Chengdu Analog Circuit Technology. Each of these companies has made significant contributions to the market, driving the growth and adoption of eNVM technology.
The key players of the market are:
- Microchip Technology
- eMemory Technology
- Synopsys
- Taiwan Semiconductor Manufacturing Company
- United Microelectronics Corporation
- Huahong Group
- Semiconductor Manufacturing International
- Yield Microelectronics
- Chengdu Analog Circuit Technology Inc. (ACTT)
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
3.1 Global Embedded Non-Volatile Memory Market Analysis
3.2 Global Embedded Non-Volatile Memory Market Type Analysis
3.3 Global Embedded Non-Volatile Memory Market Application Analysis
4. Regional Market Analysis
5. Impact of COVID-19
5.1 Impact of COVID-19 on Global Embedded Non-Volatile Memory Market
5.2 Post COVID-19 Impact on Global Embedded Non-Volatile Memory Market
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Growth in Automotive Sector
6.1.2 Increasing Integration of eNVM Technologies in Medical Sector
6.1.3 Rising Demand for Power Efficient Solutions
6.1.4 Growing Need to Enhance Security of Chips
6.1.5 Rapid Growth in Mobile and Portable Electronics
6.1.6 Increasing Investment in Research and Development
6.2 Challenges
6.2.1 Widening Gap Between Supply and Demand
6.2.2 Low Write Endurance Rate
6.3 Market Trends
6.3.1 Rise in 5G Adoption
6.3.2 Increasing Integration of eNVM with AI And ML
6.3.3 Expansion of the Wearable Technology
6.3.4 Integration with Advanced Semiconductor
6.3.5 Growing Adoption of eNVM in Code Storage Applications
6.3.6 Ongoing Development Of 3D eNVM Technologies
6.3.7 eNVM Integration on SiP And SoC Architecture
6.3.8 Rise Of Cloud-based eNVM Services
7. Competitive Landscape
7.1 Global Embedded Non-Volatile Memory Market: Competitive Landscape
7.2 Global Embedded Non-Volatile Memory (eNVM) IP Players By Market Share
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/lc1jla
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