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| Report Code: A00459 | Jun 2023 | Pages: 607 | ||
| Tables: 201 | Charts: 80 |
| |
Non-volatile memory (NVM) or Non-volatile storage is one of the most widely used silicon-based semiconductor memories, which facilitate permanent storage and backup to crucial data. In addition, NVM devices are electrically programmable and erasable to store changes in a particular location within the storage device and to retain that change even after power outage.
Hard disk, magnetic tape, and floppy disks are the most common examples of NVM, which utilize user-configurable technologies to enable the end-user to access the stored data. NVM primarily aims to deliver faster access of data while consuming less energy. Additionally, storage, server, and application vendors actively work to upgrade the existing technologies and develop new ones to optimize the performance of non-volatile memory chip, to make them a viable substitute of dynamic RAM (DRAM) for several applications.
The pandemic has presented both challenges and opportunities for the non-volatile memory market. While supply chain disruptions have led to delays and other issues for some manufacturers, the increased demand for service robots has created new opportunities for growth and expansion in the industry. As the pandemic continues to evolve, it remains to be seen how these trends will play out in the non-volatile memory market and in the packaging sector.
Presently, enterprises are more focused on adopting efficient storage devices to enable better end-user satisfaction. Non-volatile memory (NVM) market has gained popularity in various industries including consumer electronics, IT & telecom, BFSI, and healthcare, owing to its supreme benefits such as high-speed random access of data and low power consumption. Moreover, it also offers long-term data storage and backup facility of the end-user data. Embedded Non-Volatile Memory finds various applications across industries such as consumer electronics, manufacturing, and mobile computing, which further supports market growth. However, low storage density and low write endurance rate hamper non-volatile memory (NVM) market growth. Irrespective of these challenges, the emergence of several advanced storage technologies such as 3D XPoint, MRAM, SONOS, and NRAM is expected to provide huge non-volatile memory (NVM) market opportunity.
The impact of COVID-19 on the non-volatile memory (NVM) industry has been mixed. While there have been some challenges, such as supply chain disruptions and reduced demand, there have also been opportunities, such as increased demand for electrically addressed non-volatile memory.
The non-volatile memory (NVM) market outlook is segmented into Type, Industry Vertical and Application.
By type, the market is subdivided into electrically addressed, mechanically addressed, and others. Among these, electrically addressed is the major technology and the largest revenue contributor as it is faster and more efficient. The electrically addressed Non-volatile memory is further bifurcated into ROM, NVRAM, and emerging memory. The mechanically addressed Non-volatile memory type is further bifurcated into magnetic tape, hard-disk drive, optical-disc drive, millipede memory, and holographic data storage. Others segment cover FRAM, ZRAM, nanobridge, and molecular.
By application, it is categorized into consumer electronics, healthcare monitoring, automotive application, enterprise storage, industrial, and others. In 2022, the consumer electronics segment dominated the non-volatile memory (NVM) market share, in terms of revenue, and acquire major market share till 2032. Â
Further, the market covers industry vertical segments that include telecom & IT, healthcare, transportation, energy & power, manufacturing industries, and others. The telecom and IT segment acquired the largest share in 2022 and is expected to grow at a significant CAGR during the non-volatile memory (NVM) market forecast.
On the basis of region, the Non-Volatile Memory (NVM) Market Trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).In non-volatile memory (NVM) market analysis Asia-pacific generated the largest revenue in 2022.
Competitive Analysis
Competitive analysis and profiles of the major global non-volatile memory market players that have been provided in the report include Micron Technology Inc., Samsung Electronics Co Ltd, Intel Corporation, KIOXIA Holdings Corporation, Western Digital Corporation, Viking Technology, SK HYNIX INC., Renesas Electronics, STMicroelectronics N.V., and Fujitsu Limited.
Country-wise, the U.S. acquired a prime share in the non-volatile memory market in the North American region and is expected to grow at a significant CAGR during the forecast period of 2023-2032.
In Europe, Germany, dominated the non-volatile memory market, in terms of revenue, in 2022 and is expected to follow the same trend during the forecast period. However, the UK and rest of Europe are expected to emerge as the fastest-growing country in Europe's non-volatile memory with a CAGR of 8.53% and 9.25%, respectively.
In Asia-Pacific, India is expected to emerge as a significant market for the non-volatile memory market industry, owing to a significant rise in investment by prime players in the region.
By LAMEA region, the Latin America garner a significant market share in 2022. The LAMEA non-volatile memory market has been witnessing improvement, owing to the growing inclination of companies towards research and development and expanding manufacturing units across this region. Moreover, the Africa region is expected to grow at a high CAGR of 6.4% from 2023 to 2032.
TOP IMPACTING FACTORS
The non-volatile memory market analysis is anticipated to expand significantly during the forecast period the non-volatile memory market include a surge in the application of Non-volatile memory and increasing acceptance in flexible electronics. However, the lower storage density may hamper market growth. Furthermore, the growing demand for data storage provides lucrative opportunities for market growth.
HISTORICAL DATA & INFORMATION
The global non-volatile memory market market is highly competitive, owing to the strong presence of existing vendors. Vendors of the non-volatile memory market market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Key Developments/ Strategies
Samsung Electronics Co, Ltd, Kioxia Holding Corporation, Micron Technology Inc., Renesas Electronics, STMicroelectronics N.V., and Western Digital Corporation are the top companies holding a prime share in the non-volatile memory market. Top market players have adopted various strategies, such as product launch, acquisition, expansion, and others to expand their foothold in the non-volatile memory market.
KEY BENEFITS FOR STAKEHOLDERS
Non-Volatile Memory (NVM) Market Report Highlights
| Aspects | Details |
|---|---|
| Market Size By 2032 | USD 96.1 billion |
| Growth Rate | CAGR of 9.4% |
| Forecast period | 2022 - 2032 |
| Report Pages | 607 |
| By Type |
|
| By Industry Vertical |
|
| By Application |
|
| By Region |
|
| Key Market Players | Intel Corporation., Renesas Electronics, SK HYNIX INC., KIOXIA Holdings Corporation, Fujitsu Limited, Western Digital Corporation, Samsung Electronics Co Ltd, Micron Technology Inc., Viking Technology LLC, STMicroelectronics N.V. |
Analyst Review
The non-volatile memory market holds a substantial scope for growth globally. Currently, it is a continuous growth stage. There is an increase in demand for electrically addressed NVM type due to its wide usage in telecom and IT. Surge in trends toward the internet of things and industry 4.0, and high growth in industrial automation increasing the usage of Non-volatile memory market growth.
Digitalization of almost all the information generated in various industries and sectors demands a processing and storage facility with minimum burden on the system. Memory devices are used to encode, store, decode, and retrieve information. There are two types of memories available, volatile memory and non-volatile memory. The elementary difference between them is that non-volatile memory can hold the data stored in it even when it is not powered or operated for a long time, whereas volatile memory can store data only until it is connected to the power supply. Hence, non-volatile memory is usually used for secondary storage, or long-term persistent storage. In the case of power failure or system crash, non-volatile memory devices have a great advantage over their rival sister technology.
Wide operating temperature range, high efficiency, and high storage capacities are some other advantages provided by the non-volatile memory devices. The global non-volatile memory market is segmented into type, application, industry vertical and region. Based on type, the market is subdivided into electrically addressed, mechanically addressed, and others. Among these, electrically addressed is the major technology and the largest revenue contributor as it is faster and more efficient. The electrically addressed Non-volatile memory is further bifurcated into ROM, NVRAM, and emerging memory. The mechanically addressed Non-volatile memory type is further bifurcated into magnetic tape, hard-disk drive, optical-disc drive, millipede memory, and holographic data storage. Others segment cover FRAM, ZRAM, nanobridge, and molecular.
By application, it is categorized into consumer electronics, healthcare monitoring, automotive application, enterprise storage, industrial, and others. By industry vertical, it is divided into include telecom & IT, healthcare, transportation, energy & power, manufacturing industries, and others. On the basis of region, the non-volatile memory market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players of the non-volatile memory market include Micron Technology Inc., Samsung Electronics Co Ltd, Intel Corporation, KIOXIA Holdings Corporation, Western Digital Corporation, Viking Technology, SK HYNIX INC., Renesas Electronics, STMicroelectronics N.V., and Fujitsu Limited.
A. Consumer electronics is the leading application of non-volatile memory (NVM) market.
A. The key trend of non-volatile market includes surge in the application of Non-volatile memory and increasing acceptance in flexible electronics.
A. Asia-Pacific is the largest regional market for non-volatile memory (NVM).
A. The global non-volatile memory market was valued at $41 billion in 2022.
A. Samsung electronics, Western digital corporation, Kioxia holding corporation, Micron Technology Inc., and Intel Corporation are the top companies to hold the market share in non-volatile memory market.
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