Flash memory is a non-volatile electronic (solid-state) computer storage memory that can be electrically deleted and reprogrammed. The two main types of flash memory are named after the logic gates of NAND and NOR. Reading from NOR flash is identical for reading from random-access memory, provided correct mapping of the address and data bus is performed. For this, most microprocessors use NOR flash memory as an execute in place (XIP) memory. It means that programs stored in NOR flash can be executed directly from the NOR flash without the need to first being copied to RAM. Each digital computing system requires non-volatile memory to permanently retain the primary or necessary programs and data to avoid data loss in the event of power failure or system shutdown.

COVID-19 scenarioAnalysis:

• Global NOR flash memory market share has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors.

• Global factories have struggled to integrate new NOR flash memory as workers have stayed in their homes, which disrupted the global supply chains.

• The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for NOR flash memory are gradually going to increase. 

• This COVID-19 lockdown would help companies think about more advanced NOR flash memory to enhance efficiency.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The global NOR flash market is majorly driven by the factors such as the need for high-speed, low-power-consuming, and highly scalable memory devices, as well as the increasing demand for non-volatile memory in wearable and connected devices. In addition, the increased deliveries of embedded NOR flash in automotive, wireless, medical, and industrial applications fuels the market. Advanced technologies such as automatic cruse controller, advanced driver assistance systems (ADAS), and internet of things (IoT) connectivity are built into automotive processors and controllers (microcontrollers or CPUs) on board. In conjunction with the same, NOR flash memories which are used for code storage in the controllers, and similar functions is also observing the rise in market demand. As a result of these factors, expansion of the market for automotive electronics is expected to increase the NOR flash market during the forecast period. However, development of high-tech NAND flash such as 3D NAND flash and increase in adoption of NAND flash are expected to restrict the market for NOR flash memories.

The globalNOR flash memory market trends are as follows:

Retail industry is expected to grow at the highest rate

For the retail industry, the market is driven mainly by digital transformation in the retail sector. The systematic and new retail processes are data-intensive and are supported by consistent computing. Also, the retailers nowadays are highly reliant on incorporating technologies into their processes to remain competitive in the industry. The inventory monitoring, numerous selling points, and other tools in the retail industry drive demand for non-volatile memory use.

Asia-Pacific to hold the highestmarket share

Due to the huge scope in various applications, the Asia-Pacific is becoming one of the key markets for non-volatile memory in the future. This is attributed to the high population density across the region which makes it a high-potential consumer electronics products market. In addition, surge in demand in consumer electronics products for non-volatile memory is driving mass production of non-volatile memory in the region among the four major regions. Another major factor which favors the Asia-Pacific market is well-established hard disk drives and other manufacturing of consumer electronics.

For a long time NOR Flash Memory has been used to store code and direct program execution in portable electronic devices such as mobile phones and personal digital assistants (PDA). The advent of smartphones and the use of NAND flash, however, has impacted NOR flash memory applications.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the globalNOR flash memoryindustry along with the current trends and future estimations to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the globalNOR flash memory market share.

• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global NOR flash memory market growth scenario.

• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.

• The report provides a detailed globalNOR flash memory market analysis based on competitive intensity and how the competition will take shape in coming years.

Market scope and structure analysis:

Questions answered in theNOR flash memorymarket research report:

• Which are the leading market players active in the NOR flash memory market?

• What would be the detailed impact of COVID-19 on the market?

• What current trends would influence the market in the next few years?

• What are the driving factors, restraints, and opportunities in the NOR flash memory market?

• What are the projections for the future that would help in taking further strategic steps?