The global non-volatile memory market size is expected to grow from $62.48 billion in 2021 to $69.94 billion in 2022 at a compound annual growth rate (CAGR) of 11.9%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The non-volatile memory market is expected to reach $110.49 billion in 2026 at a CAGR of 12.1%.
What is the Global Non-Volatile Memory Market?
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.
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What drives the Global Non-Volatile Memory Market?
The increase in demand for electronic devices and data storage requirements is expected to drive the growth of the non-volatile memory market in the forecast. The upsurge in usage of smartphones and the easy availability of high-speed internet data has resulted in a drastic increase in data consumption and storage. According to a study by ASSOCHAM in association with PwC, the data consumption is expected to grow at a rate of 73% CAGR by 2022 in India. With such a rise in data consumption, the need for reliable and compact storage is increasing, resulting in increased demand for flash storage. Thus, the growing demand for electronic devices and data storage requirements with increasing data consumption is boosting the growth of the non-volatile memory market.
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Global Non-Volatile Memory Market Segments
The global non-volatile memory market is segmented:
By Type: Flash Memory, EPROM, FRAM, 3D-X Point, NRAM, Others
By Wafer Size: 200 mm, 300 mm, 450 mm
By End-User: Consumer Electronics, Enterprise Storage, Automotive and Transportation, Military and Aerospace, Industrial, Telecommunication, Energy and Power, Healthcare, Agricultural, Retail
By Geography: The regions covered in the non-volatile memory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Non-Volatile Memory Global Market Report 2022 provides market size and growth forecasts for the global non-volatile memory market, global non-volatile memory market share, non-volatile memory market segments and geographies, non-volatile memory market competitive landscape including 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.
Global Non-Volatile Memory Industry Players include Intel Corporation, Toshiba Corporation, Samsung Electronics, Adesto Technologies Corporation, Viking Technology, Crossbar Inc., Kilopass Technology, Sidense Corporation, Sandisk Corporation, and Micron Technology. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
