|Status : Published||Published On : Dec, 2021||Report Code : VRSME9087||Industry : Semiconductor & Electronics||Available Format :||Page : 300|
The global non-volatile memory (NVM) market is anticipated to grow from USD 53.7 billion by 2020 to USD 85.7 billion by 2027, registering a 9.2% CAGR during the forecast period 2021-2027.
Non-volatile memory is a type of computer memory that can retain and retrieve information even when the machine is turned off. It is mainly used for long-term or secondary data storage devices like memory chips for digital cameras and USB memory sticks. NVM eliminates the requirement for storage technologies that are somewhat sluggish like hard drives. In addition, it uses user-configurable technology that does not require memory updates on a regular basis. The widespread adoption of non-volatile memory in the consumer electronics sector and automotive sector will bolster the growth of the market. Thus, the increased demand to have fast access, less power consumption, high speed, and high scalability will fuel the growth of non-volatile memory globally.
The COVID-19 outbreak has had an adverse impact on the non-volatile market owing to lockdown and travel restrictions in various countries. The consumer electronics and enterprise sector has suffered a massive loss in terms of production. Furthermore, the non-volatile technology production was less and non-volatile memory plants were standstill. These all factors have led to a slight decline in the growth of the non-volatile memory market. However, the non-volatile memory market will bounce back and product variation and development will take place.
Insight by Type
Based on type, the global non-volatile memory is bifurcated into traditional non-volatile memory and next-generation non-volatile memory. The traditional non-volatile memory is sub-divided into flash memory, EEPROM, SRAM, EPROM, and others. The next-generation non-volatile memory is sub-divided into MRAM, FRAM, ReRAM, 3D-X Point, Nano RAM, and others. Traditional memory like flash memory is expected to witness the largest share as they are substituting magnetic storage and is used as an alternative for hard drives that require high-performance desktop computers. the usage of flash memory is growing significantly owing to the rising demand and penetration in the consumer electronics sector. Moreover, there is rising usage from data center solution vendors owing to the tremendous growth of cloud solutions, thus driving the growth of the market.
Insight by Wafer Size
Based on wafer size, the global non-volatile memory market is divided into 200mm, 300mm, and 450mm. Among the wafer size, the 300mm is projected to contribute the largest share during the forecast period as all-new fab upgrades and construction activities are using 300mm wafer processing. Almost all major chipmakers are planning to build or build The growing trend of adopting cloud computing, AI, and the IoT will led to significant growth in the NVM market. The organizations are focusing on finding out next-generation memory capability technology and growing R&D activities are the trends prevalent in the non-volatile memory market. 300mm fabrications and almost all device makers are designing new devices using 12-inch wafers. Also, 300mm wafers are double-sided polished and have the same notches as 200mm wafers.
Insight by Application
On the basis of application, the market is categorized into consumer electronics, healthcare monitoring, automotive application, enterprise storage, industrial, and others. Among these applications, the consumer electronics segment will hold the largest share owing to its application and increased requirement in consumer electronics that require high processing power and memory capacity. Furthermore, the developed technologies such as AI, IoT, and big data analytics will fuel the growth of the segment.
Insight by Industry Vertical
Based on industry vertical, the global non-volatile market is divided into telecom & IT, healthcare, automotive, energy & power, manufacturing industries, and others. Telecom & IT is anticipated to witness the largest growth during the estimated period owing to technological development, implementation on various platforms, and surging demand for products like smartphones, digital cameras, etc.
The growing trend of adopting cloud computing, AI, and the IoT will led to significant growth in the NVM market. The organizations are focusing on finding out next-generation memory capability technology and growing R&D activities are the trends prevalent in the non-volatile memory market.
The NVM is a sophisticated technology that interacts with AI, data analytics, and IoT, resulting in an increased requirement for efficient data storage possibilities with non-volatile memory. The rising demand for wearable and connected devices, increasing demand for optical discs, flash drives, and computers in the consumer electronics sector increase application in the automotive industry, increased disposable income among people will contribute to the growth of the non-volatile memory market. Thus, the mounting need to have fast, easy access to data, increase in portable system markets and consumption of less power will drive the growth of the market.
The limited storage capacity of NVM, high cost, may hinder the growth of the non-volatile memory market. Moreover, the low endurance of NVM will reduce the writing speed of memory technology, thereby limiting the transfer of data.
The evolving technologically developed memory storage technologies like MRAM, 3D XPoint, and NRAM and the adoption of NVM in the financial sector will provide promising opportunities for growth in the non-volatile memory market. In addition, the unique quality to store data permanently even though the power is turned off and ease of storage will further provide opportunities for growth in the non-volatile memory market.
North America contributes to the largest market share in the non-volatile memory market and is one of the largest producers of memory chips globally. The RND support and rising disposable income to develop and adopt advanced technologies across industry verticals will fuel the growth in the region.
Asia-Pacific is anticipated to be the fastest-growing region owing to the new infrastructure construction, surging demand for telecommuting, online entertainment, mounting growth in automotive & consumer electronics manufacturing, and voice and video call services. The rapid advancement of digitalization will led to an increasing trend to build large data centers, leading to the growth of the non-volatile memory market. Also, China is going to enter the flash memory segment with aggressive plan.
The competition in the non-volatile memory market is huge and the entry of new players will further increase the competition. The strategies adopted by the industry players include acquisitions, expansion, and new partnerships. In a non-volatile memory market, competitive rivalry is mostly determined by a company's ability to maintain a competitive edge through innovation, market penetration, and the strength of its competitive strategy. Because the market is capital-intensive, the barrier to exit is significant.
TOSHIBA CORPORATION is one of the global leaders in the non-volatile memory industry. The company attempts to meet the ongoing demand for storage by introducing new memory products to meet the rising demand for Flash memory solutions. For its next-generation memories and 3D memories businesses, the company follows organic strategies and is significantly boosting its R&D spending. The company intends to expand its BiCS production capacity and concentrate more resources on SSD research and development.
Samsung Electronics is one of the leading innovators in the non-volatile memory market and is a leading producer of digital TVs, memory chips, mobile phones, and TFT-LCDs. Foundry, testing, packaging, memory integration, such as DRAM, Flash, and low-power memory, and end-user application products are all offered by the company. To reduce its reliance on the volatile memory chip industry and create semiconductors for self-driving cars and AI-enabled products, the business wants to invest USD 116 billion in non-memory chips by 2030.
In November 2021, Fujitsu Semiconductor Memory Solution Limited has introduced novel 8Mbit FRAM MB85R8M2TA with a parallel interface, which is the first product in Fujitsu’s FRAM product line that guarantees 100 trillion read/write cycle times.
In March 2021, Micron Technology, Inc. has updated the company’s portfolio strategy and is focusing on memory and storage innovations for the data center. Micron will stop the development of 3D XPoint™ and move its resources to focus on accelerating the market introduction of CXL-enabled memory products.
Some of the key players operating in the non-volatile memory market: SAMSUNG, Intel Corporation, TOSHIBA CORPORATION, Western Digital Corporation, FUJITSU, Adesto Technologies Corporation, Micron Technology, Inc., Viking Technology, Yangtze Memory Technologies Co., Ltd., and CrossBar, Inc.
Source: VynZ Research