Global Emerging Non-Volatile Memory Market Size (2024 - 2029)

The emerging non-volatile memory market is poised for substantial growth, driven by the increasing adoption of memory devices across various sectors such as consumer electronics, enterprise, and industrial applications. The demand for fast, low-power memory solutions, particularly in connected and wearable devices, is a key factor contributing to the market's expansion. Despite challenges related to the complexity of designing and manufacturing these devices, advancements in embedded non-volatile memory technologies are enhancing their maturity and application potential. The market's resilience was evident during the COVID-19 pandemic, as demand shifted and balanced across different segments, with data centers and storage class memory applications continuing to propel market development.

Market Size of Global Emerging Non-Volatile Memory Industry

Emerging Non-Volatile Memory Market Outlook
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 22.89 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Global Emerging Non-Volatile Memory Market Major Players

*Disclaimer: Major Players sorted in no particular order

Emerging Non-Volatile Memory Market Analysis

The emerging non-volatile memory market is expected to register a CAGR of approximately 22.8% during the forecast period (2022 - 2027). The emerging non-volatile memory market is anticipated to witness significant growth owing to the acceptance of memory devices across a wide range of end-user industries, including consumer electronics, enterprise, industrial, and others.

  • The rising demand for fast access and low power consuming memory devices, as well as increasing demand for non-volatile memory in connected and wearable devices, are some of the major factors propelling the market growth. However, high complexity in designing and manufacturing emerging non-volatile memory devices is anticipated to hamper the market growth during the forecast period.
  • After several years of development, embedded emerging non-volatile memory technologies have gained substantial maturity. Several embedded MRAM-based devices entered volume production in 2021, among which are GreenWave's AI processors with GlobalFoundries' eMRAM (22nm FDSOI) and edge-AI accelerators designed and developed by Numen and Gyrfalcon (22nm ULL at TSMC).
  • The increasing research activities in this space are driving the market's growth. For instance, in 2021, Samsung announced the improvement of the MTJ function of its MRAM along with advancing its 14 nm process to support its flash-type embedded MRAM designed to increase the write speed and density. In addition, the company targets the IC's emerging non-volatile memory application in wearables, microcontrollers, and IoT devices.
  • COVID-19 pandemic and its global lockdowns combined impacted the memory market. Laptops and Datacentres demand grew, whereas smartphones and automotive faced a slowdown. The net result has been a comparatively balanced memory demand. As the emerging non-volatile memory business is expanding mostly on the datacentre market with storage class memory (SCM) applications facilitated by 3D XPoint, there has not been a negative impact on the overall emerging non-volatile memory market evolution. Though the pandemic created supply-chain disruptions in the first half of 2020, these were mostly cleared by the beginning of the second half of 2020.

Emerging Non-Volatile Memory Industry Segmentation

Non-volatile memory is a computer memory that can retain information stored on it even when turned off. Emerging non-volatile memory technologies promise advanced and novel memories for storing more data at less cost than the expensive-to-build silicon chips utilized by renowned consumer gadgets such as cell phones, digital cameras, portable music players, and others. Among several alternatives, spin-transfer torque random access memory, phase change memory, and resistive random-access memory (RRAM) are key emerging technologies.

Emerging non-volatile memories are best suited for neuromorphic computing applications because they are small cell-sized and can store several synaptic weights. The end-user industries considered part of the study include consumer electronics, industrial, enterprise, and other sectors in various geographies. Further, the market is segmented by type, including stand-alone and embedded. Also, the study includes the impact of COVID-19 on the market.

Type
Stand-alone
Embedded
End-user Industry
Industrial
Consumer Electronics
Enterprise
Others
Geography
North America
Europe
Asia-Pacific
Rest of the World
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Global Emerging Non-Volatile Memory Market Size Summary

The emerging non-volatile memory market is poised for substantial growth, driven by the increasing adoption of memory devices across diverse end-user sectors such as consumer electronics, enterprise, and industrial applications. The demand for fast, low-power memory solutions, particularly in connected and wearable devices, is a significant factor fueling this expansion. Despite the challenges posed by the complexity of designing and manufacturing these advanced memory devices, the market continues to evolve, with embedded technologies like MRAM gaining maturity and entering volume production. The COVID-19 pandemic initially disrupted supply chains but ultimately led to a balanced demand across various sectors, with data centers experiencing a surge in need for storage class memory applications. This trend is further supported by the growing requirements for high-performance computing, edge computing, and cloud applications, which are increasingly reliant on emerging non-volatile memory solutions.

The Asia-Pacific region stands out as a major player in the global emerging non-volatile memory market, driven by robust demand from developing economies such as China and India. The region's growth is bolstered by the expansion of data centers and the increasing production of mobile handsets, supported by government initiatives and international investments. The rapid development of the digital economy in China, along with significant investments in semiconductor fabrication facilities, underscores the region's strategic importance. Additionally, leading research institutions in Asia-Pacific are advancing technologies related to emerging non-volatile memory, contributing to the region's competitive edge. The market is moderately competitive, with major players like TSMC, Intel, and Fujitsu leading the charge, while ongoing innovations and strategic partnerships continue to shape the landscape.

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Global Emerging Non-Volatile Memory Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power Of Suppliers

      2. 1.2.2 Bargaining Power Of Buyers

      3. 1.2.3 Threat Of New Entrants

      4. 1.2.4 Threat Of Substitute

      5. 1.2.5 Intensity Of Competition Rivarly

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Stand-alone

      2. 2.1.2 Embedded

    2. 2.2 End-user Industry

      1. 2.2.1 Industrial

      2. 2.2.2 Consumer Electronics

      3. 2.2.3 Enterprise

      4. 2.2.4 Others

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 Rest of the World

Global Emerging Non-Volatile Memory Market Size FAQs

The Global Emerging Non-Volatile Memory Market is projected to register a CAGR of greater than 22.89% during the forecast period (2024-2029)

TSMC, Samsung Electronics Co. Ltd., GlobalFoundries Inc., Texas Instruments Inc. and Fujitsu Ltd. are the major companies operating in the Global Emerging Non-Volatile Memory Market.

Emerging Non-Volatile Memory Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)