Non-Volatile Memory (NVM) Market Highlights
Globally, the size of Non-Volatile Memory (NVM) Market is set to grow at a CAGR of 11% during the forecast period (2022 – 2027) driven by the increasing requirement for efficient data storage technology is surging the non-volatile memory market.
The global non-volatile memory market is projected to witness a rapid growth during the forecast period owing to increasing demand for highly scalable memory devices and growing demand for non-volatile memory in connected and wearable devices. Moreover, increasing demand for non-volatile memory across various industry verticals such as BFSI, healthcare, manufacturing, retail and IT & telecommunications is driving the growth of the global market.
Some of the prominent players in the global non-volatile memory market: Samsung Electronics Co., Ltd. (South Korea), Toshiba Corporation (Japan), Micron Technology, Inc. (U.S.), SK Hynix, Inc. (South Korea), Western Digital Corporation (U.S.), Fujitsu Ltd (U.S.), Intel Corporation (U.S.), IBM Corporation (U.S.), Nantero (U.S.), Crossbar Inc. (U.S.), Synopsys Inc. (U.K), Adesto Technologies (U.S.), Everspin Technologies (U.S.), Viking Technology (U.S.), Kilopass Technology Inc. (U.S.), Avalanche (U.S.), Cypress Semiconductor Corporation (U.S.), NXP Semiconductor (the Netherlands), Rambus (U.S.), Texas Instruments (U.S.), Spin Transfer Technologies (U.S.), 4DS (Australia) and Open-silicon (U.S.).
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Non-Volatile Memory Market Segmentation
The global non-volatile memory market is segmented on the basis of the type, application and vertical. The type size segment is classified emerging and traditional. However, the traditional segment comprises of FLASH, non-volatile SRAM, embedded non-volatile memory, EPROM and SPROM. Out of which, embedded non-volatile memory is expected to hold the largest market of the traditional non-volatile memory market. This is owing to the increasing demand for embedded non-volatile memory in the connected devices market.
Market Research Analysis:
Asia Pacific is estimated to account for the largest share of the market, whereas North America market is projected to grow at the fastest rate during the forecast period. The Asia Pacific market is witnessing a rapid growth due to technological advancements and increasing demand for high speed and low power consuming memory devices across different industry verticals in this region.