Non-volatile memory is a type of computing memory that has the capability of saving data even when it is not connected to a power source. The non-volatile memory market was valued at USD 54.3 billion in 2020 and is projected to reach USD 83.6 billion by 2025, at a CAGR of 9.0% between 2020 and 2025.
Increasing demand for faster access and low power consuming memory devices is expected to drive the overall non-volatile memory market during the forecast period. The rising need for memory devices with high speed, low power consumption, and high scalability is expected to fuel the development of new non-volatile memories. Various players involved in this market strive to address this need with the development of emerging memories, such as RRAM, MRAM, FeRAM, and STTMRAM.
There is a growing demand for non-volatile memories in connected and wearable devices. Smart technologies and consumer electronics are among the largest adopters of non-volatile memories. High-capacity memory solutions are needed for connected devices, wearable devices, and other portable devices that use memory chips for the storage of data and for other purposes.
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Emerging memories are expected to grow at a faster rate than traditional non-volatile memories. The market for emerging memories is expected to grow at a CAGR of 13.3% between 2020 and 2025. Emerging memory technologies offer type of new memories to store more data at a lesser cost than the expensive-to-build silicon chips used by popular consumer gadgets, such as digital cameras, cell phones and portable music players. They are expected to be potential alternatives to existing memories in future computing systems.
The 450 mm segment is expected to grow at the highest CAGR of 32.6% during the forecast period. The semiconductor industry is trying to make a transition from 300 mm wafer size to 450 mm wafer size. In 2008, Intel, Samsung, GlobalFoundries, TSMC, and IBM collectively launched the Global 450 Consortium (G450C) in partnership with The Colleges of Nanoscale Science and Engineering (CNSE) at SUNY Polytechnic Institute (SUNY Poly).
Consumer electronics is expected to grow at the highest CAGR of 10.7% during the forecasted period. It is one of the largest application areas of non-volatile memory. The performance requirements in consumer electronics are continuously increasing owing to the rising need for high processing power and memory density while keeping product costs more or less persistent. These memory technologies have the capability to meet the requirements of consumer electronics equipped with advanced technologies such as AI, IoT, and big data analytics, which generate huge amounts of data to be stored.
APAC is among the fastest growing market for non-volatile memories. APAC has the largest customer base in the world for consumer and enterprise storage applications. The non-volatile memory market has major applications in consumer electronics, mobile phones, and mass storage devices, which are continuously undergoing innovation. Various technologies related to the memory solution market are still in the process of commercialization.
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Traditional flash memories have limitations, such as slow switching rate, high latency, and low scalability. They face limitations of scalability below 90 nm while using floating gate technology. They also consume more power compared to other emerging memory technologies. Currently, flash memories are being used in smartphones, tablets, and PDAs. Although they have a large market size, emerging memory technologies that can overcome the limitations of flash memories have a major scope for growth in the future.
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