Non-Volatile Memory Global Market To Reach Value Of About $100 Billion In 2025
21 Jul, 2021
The non-volatile memory market consists of sales of storage drives by entities (organizations, sole traders, or partnerships) that manufacture solid state drives (SSDs, compact disks, and flash drives used for storing data. Non-volatile memory is generally used for storing data over a long period and is categorized into electrically addressed systems such as ROM and mechanically addressed systems such as optical disc magnetic tapes and holographic memory.
Global Non-Volatile Memory Market Size And Drivers:
The global non-volatile memory market is expected to grow from $56.03 billion in 2020 to $62.48 billion in 2021 at a compound annual growth rate (CAGR) of 11.50%. The growth in the non-volatile memory market is mainly due to the increase in demand for electronic devices and data storage requirements, adoption of flash memories in consumer electronics, rise in demand for faster memory access, increasing demand for faster access and low power consuming memory devices, and rising need for memory devices with high speed. The market is expected to reach $99.96 billion in 2025 at a CAGR of 12.47%. The increase in demand for electronic devices and data storage requirements is expected to drive the growth of the non-volatile memory market.
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Trends In The Global Non-Volatile Memory Market
The launch of high-reliability non-volatile memory devices is a key trend in the non-volatile market. A high reliable memory helps in well remembered information. In March 2021, Infineon Technologies, a German based company, launched second-generation of high-reliability non-volatile static random-access memory (nvSRAM). These devices would offer QML-Q (Qt modeling language) and high-reliability industrial specifications that will support demanding non-volatile code storage and data-logging applications in harsh environments, including aerospace and industrial applications.
Global Non-Volatile Memory Market Segments:
The global non-volatile memory market is further segmented based on type, wafer size, end user and geography.
By Type: Flash Memory, EPROM, FRAM, 3D-X Point, NRAM, Others
By Wafer Size: 200mm, 300mm, 450mm
By End User: Consumer Electronics, Enterprise Storage, Automotive And Transportation, Military And Aerospace, Industrial, Telecommunication, Energy And Power, Healthcare, Agricultural, Retail
By Geography: The global non-volatile memory market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the non-volatile memory market in 2020.
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Non-Volatile Memory Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides non-volatile memory market overviews, analyzes and forecasts market size and growth for the global non-volatile memory market, non-volatile memory market share, non-volatile memory market players, non-volatile memory market segments and geographies, non-volatile memory market’s leading competitors’ revenues, profiles and market shares. The non-volatile memory market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.