The global magneto resistive RAM (MRAM) market size was US$ 270.5 million in 2021. The global magneto resistive RAM (MRAM) market size is forecast to reach US$ 12,878.2 million by 2030, growing at a compound annual growth rate (CAGR) of 62.2% during the forecast period from 2022 to 2030.

Magnetic RAM, also known as magneto resistive RAM, is a type of non-volatile RAM that stores data using magnetic charges. Magneto resistive RAM is the result of the merging of static and dynamic RAM preferences. The device helps to improve electronic things and assists electronic items in storing a large amount of data, ensuring quick access to information while using less battery power than conventional electronic memory.

Factors Influencing Market Growth

The rising adoption of IoT to improve user experience due to advances in 5G and connect IT devices is forecast to fuel global market growth.
A rise in investment and research to develop next-generation read access memory is forecast to offer lucrative opportunities for the global market growth during the forecast period.
The rising demand for wearables and flexible electronic products drives the global market. These electronic products need flexible magnetic memories for processing and storing data.
The high design cost with electromagnetic interface issues may slow down the overall market growth.
Impact Analysis of COVID-19

The COVID-19 pandemic has impacted most industries worldwide but has fueled the growth of robots, drones, and other automated machines to combat the disease. The COVID-19 outbreak has resulted in an increase in the number of assistive robots in hospitals and testing facilities, used to disinfect hospitals and residential areas, monitor temperature, and deliver food and medicine to COVID -19 patients, thereby relieving hospital medical staff of non-essential tasks and limiting the virus's spread. Thus, the COVID-19 pandemic had a minimal impact on the global market growth.

Regional Insights

North America held dominance in the market in 2021. As a result of the existence of major players and the growing research & development activities. In addition, the critical need to serve the rising demand for faster computation, better scalability, and lower power consumption is forecast to drive the market growth in the region.

The Asia Pacific region is forecast to have lucrative growth in the market during the forecast period. As a result of the modifications and advances in infrastructures of data centers, supported by the rising adoption of cloud computing and usage of the internet. In addition, rising sales of smartphones wearable electronics drive the market growth in the region.

Leading Competitors

The leading prominent companies profiled in the global magneto resistive RAM market are:

Avalanche Technology Inc
NVE Corporation
Qualcomm Incorporated
Crocus Nano Electronics LLC.
Everspin Technologies Inc.
HFC Semiconductor Corporation
Tower Semiconductor
Honeywell International Inc.
Infineon Technologies AG
Intel Corporation
Samsung Electronics Co. Ltd
Spin Transfer Technologies
Numem Inc
Other Prominent Players
Scope of the Report

The global magneto resistive RAM market segmentation focuses on Type, Offering, Application, and Region.

Segmentation based on Type

Toggle MRAM
Spin-transfer Torque MRAM
Segmentation based on Offering

Stand-alone
Embedded
Segmentation based on Application

Consumer Electronics
Robotics
Enterprise Storage
Automotive
Aerospace and Defense
Other Applications
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America