What is the Historic and Current Scenario of the Non-Volatile Memory Market?
The non-volatile memory market has seen considerable growth due to a variety of factors.
• The size of the non-volatile memory market has seen a rapid expansion in recent years. An increase from $97.76 billion in 2024 to $112.48 billion in 2025 is expected, displaying a compound annual growth rate (CAGR) of 15.1%.
Factors such as the semiconductor industry, consumer electronics, energy efficiency, demand for data storage, market competitiveness, and the durability and reliability of products have contributed to this growth in the historic period.
What are the Forecasted Growth and Key Factors of the Non-Volatile Memory Market?
The non-volatile memory market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for non-volatile memory is projected to expand significantly in the coming years, increasing to $199.76 billion in 2029 with a 15.4% CAGR.
This growth for the forecasted period is primarily driven by factors such as autonomous vehicles, environmental considerations, cutting-edge packaging, and hybrid memory solutions. The predominant trends for this period include the rise in artificial intelligence (AI) and machine learning, 5G technology usage, edge computing, quantum computing, and neuromorphic computing.
What Main Forces Are Fueling Expansion In The Non-Volatile Memory Market?
The surge in data volume is anticipated to boost the non-volatile memory market's expansion in the future. The exponential rise in data can be largely attributed to the widespread use of IoT devices and the enormous amount of content produced by users on social media platforms. Both these sources constantly create real-time data and interactions, contributing to the worldwide data growth. Non-volatile memory (NVM) has a significant part to play in handling this surge in data as it securely stores data even when the power is off, thus making it the preferred choice for storage and long-term data preservation. For example, in December 2022, a report from The Linux Foundation, an American non-profit consortium, revealed that data growth for an average end-user organization had reached a remarkable 2,208 TB in 2022. This marked a growth of 215.43%, which is three times more than the 700 TB recorded in 2021. Hence, the escalating data volume will spur the growth of the non-volatile memory market.
What Are The Primary Segments In The Global Non-Volatile Memory Market?
The non-volatile memory market covered in this report is segmented –
1) By Type: Flash Memory, EPROM, FRAM, 3D-X Point, NRAM, Other Types
2) By Wafer Size: 200mm, 300mm, 450mm
3) By End User: Consumer Electronics, Enterprise Storage, Automotive and Transportation, Military and Aerospace, Industrial, Telecommunication, Energy and Power, Healthcare, Agricultural, Retail
Subsegments:
1) By Flash Memory: NAND Flash Memory, NOR Flash Memory, Embedded MultiMediaCard (eMMC), Universal Flash Storage (UFS)
2) By Erasable Programmable Read-Only Memory (EPROM): Standard EPROM, Ultraviolet Erasable EPROM (UV EPROM), Electrically Erasable Programmable Read-Only Memory (EEPROM)
3) By Ferroelectric RAM (FRAM): Serial FRAM, Parallel FRAM
4) By 3D-XPoint: 3D-XPoint Memory Modules
5) By NRAM (Nano-RAM): Carbon Nanotube-Based NRAM, Other NRAM Technologies
6) By Other Types: Magnetoresistive RAM (MRAM), Phase Change RAM (PCRAM), Racetrack Memory, Other Emerging Non-Volatile Memories
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Which Key Trends Are Driving Changes In The Non-Volatile Memory Market?
Innovations in technology are becoming increasingly influential trends in the non-volatile memory market. Leading firms in this market are innovating new products or technologies to consolidating their market stance. For example, in June 2022, STMicroelectronics NV, a company based in Switzerland specializing in technology, introduced the first Serial Page EEPROM - the industry's premier high-density, page-erasable SPI memory, with a notably low power draw. Beginning with the 32Mbit M95P32, it facilitates an exceptional combination of firmware administration and adaptable data storage, leading to cost reductions while boosting performance. This new memory structure is perfect for applications such as industrial IoT, wearables, and smart meters, merging ST’s patented 40nm NVM technology with a smart page layout that accelerates reading, erasing, and programming cycles. It surpasses alternatives like FRAM and serial Flash in terms of power efficiency, usability, and reliability.
Who Are the Key Players in the Non-Volatile Memory Market?
Major companies operating in the non-volatile memory market include:
• Samsung Electronics Co. Ltd.
• Western Digital Corporation
• Intel Corporation
• Dell EMC
• Hewlett Packard Enterprise Company
• Kioxia Holdings Corporation
• Micron Technology Inc.
• SK Hynix Inc.
• Microchip Technology Incorporated
• ROHM Co. Ltd.
• Renesas Electronics Corporation
• STMicroelectronics NV
• Infineon Technologies AG
• Nantero Inc.
• Crossbar Inc.
• Everspin Technologies Inc.
• Winbond Electronics Corporation
• Pure Storage Inc.
• NetApp Inc.
• Seagate Technology Holdings plc
• Toshiba Corporation
• Huawei Technologies Co. Ltd.
• Fujitsu ltd.
• Intel Corporation
• Honeywell International Inc.
• Maxim Integrated Products Inc.
• Micron technologies Inc.
• Avalanche Technologies Inc.
• Adesto Technologies Corporation
• Viking Technology
What Is The Most Dominant Region In The Non-Volatile Memory Market?
North America was the largest region in the non-volatile memory market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non-volatile memory market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
