Non-Volatile Memory Market Global Report 2022-2027

The global non-volatile memory market size reached US$ 56.38 Billion in 2021. By 2027, It will reach US$ 111.95 Billion, exhibiting a CAGR of 11.50% (2022-27).

SHERIDAN, WYOMING, UNITED STATES, November 29, 2022 /EINPresswire.com/ -- The latest research study “Non-Volatile Memory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global non-volatile memory market reached a value of US$ 56.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 111.95 Billion by 2027, exhibiting a CAGR of 11.50% during 2022-2027.

What is non-volatile memory?

Non-volatile memory (NVM), also called non-volatile storage, represents a type of computer memory which can retain saved data even when the power is turned off. It does not require the information to be periodically refreshed. Commonly used NVM include flash memory, hard disks, floppy disk drives, magnetic tapes, read-only memory (ROM), optical disc drives, and other computer storage methods, such as paper tapes and punch cards. This storage system finds widespread applications across several sectors, including retail, information technology (IT), telecommunications, automotive, healthcare, etc.

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Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

What are the major drivers for the non-volatile memory market?

The escalating demand for smartphones for communication and other purposes, which use advanced processors to enable fast data transfer and the expanding electronics industry are primarily driving the non-volatile memory market. Besides this, the rising utilization of this storage technique in chips for digital cameras and universal serial bus (USB) sticks is further augmenting the market growth. Moreover, the introduction of advanced NVM technologies, such as magneto resistive random-access memory (MRAM), 3D XPoint, and nano random-access memory (NRAM), is also catalyzing the global market.

Apart from this, the extensive research and development (R&D) activities by the leading players and the increasing number of data centers across countries are acting as significant growth-inducing factors. Furthermore, the growing popularity of flash storage in global positioning systems (GPS), gaming devices, laptops, and electronic musical instruments, on account of its lower price and power consumption, is expected to bolster the non-volatile memory market in the coming years.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global non-volatile memory market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on region, type and industry vertical.

Breakup by Type:
• Electrically Addressed
• Mechanically Addressed
• Others

Breakup by Industry Vertical:
• Telecom and IT
• Healthcare
• Automotive
• Consumer Electronics
• Energy and Power
• Others

By Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

List of Major Key Players:
• Avalanche Technology
• CrossBar Inc.
• Dialog Semiconductor PLC (Renesas Electronics Corporation)
• Fujitsu Limited
• Honeywell International Inc.
• Infineon Technologies AG
• Intel Corporation
• Microchip Technology Inc.
• Micron Technology Inc.
• Samsung Electronics Co. Ltd.
• STMicroelectronics
• Texas Instruments Incorporated
• Toshiba Corporation
• Western Digital Corporation.

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