According to
the new research report "Non-Volatile Memory Market
by Type (Flash (NAND, NOR), EEPROM, NVSRAM, Embedded, EPROM, 3D NAND,
MRAM/STTMRAM, FRAM, RERAM/CBRAM, 3D XPOINT, NRAM), End-User Industry, and
Geography - Global Forecast to 2022", the non-volatile
memory market is expected to be worth USD 82.03 Billion by 2022, at a CAGR of
9.50% between 2017 and 2022.
The growth of this market is mainly driven by the
need for high-speed, low-power-consuming, and highly scalable memory devices as
well as the growing demand for non-volatile memory in connected and wearable
devices.
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Traditional
non-volatile memory market held the largest size in 2016
The embedded
non-volatile memory has gained significant attention in the connected devices
and IoT market because of its higher efficiency under ultra-low power.
Non-volatile memory is one of the major components of connected devices. Also,
the high adoption of Flash memories in consumer electronics because of their
low price and low power consumption is driving the market for 2D and 3D NAND.
Therefore, traditional non-volatile memory held the largest market size in the
non-volatile memory market owing to the inexpensive memory solutions as well as
the increasing density and performance.
Market for
retail industry is expected to grow at the highest rate during the forecast
period
Retail
industry today, is highly data rich and integrated with data analytics to
understand and meet the customer expectation. To access the data generated at
point of sales effectively many retail players started adopting emerging memory
technology to implant data driven decisions non-volatile memory is an integral
part of various analytic tools used in the retail industry for computing and
analysis applications. Thus, the market for non-volatile memory is expected to
grow at the highest rate in the retail industry.
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APAC held
the largest share of the non-volatile memory market in 2016
The huge
consumer electronics customer base in APAC and the presence of major global
foundries in this region lead to the faster development of non-volatile memory
technologies and enables the easy accessibility of products to the market.
Also, China has access to large funding sources and the favorable
government initiatives further help drive the growth of the market. The Made in
China 2025 initiative strategically focuses on the technology development of
DRAM, eDRAM, Flash, and V-NAND Flash memory.
Some of the
leading players in this market include Samsung Electronics Co., Ltd. (South
Korea), Toshiba Corp. (Japan), Micron Technology, Inc. (U.S.), SK Hynix, Inc.
(South Korea), and Western Digital Corp. (U.S.).
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