The global non-volatile memory (NVM) market size was US$ 57.7 billion in 2021. The global non-volatile memory (NVM) market is forecast to grow to US$ 131.7 billion by 2030, registering a compound annual growth rate (CAGR) of 9.8% during the forecast period from 2022 to 2030.
Non-volatile memory (NVM) is a type of computer memory that can store and recover data even when the computer is turned off. NVM reduces the need for other storage systems, such as hard drives. Furthermore, it employs user-configurable technology that does not necessitate frequent memory changes.
COVID-19 Impact Analysis
The COVID-19 pandemic has adversely affected the global non-volatile memory market, majorly due to the lockdown and import-export restrictions across various countries. The consumer electronics sector witnessed significant loss across several verticals, which resulted in a massive loss for the non-volatile memory industry.
Factors Influencing the Market
The trending deployment of cloud computing, AI, and the IoT will contribute to the growth of the global non-volatile memory (NVM) market. In addition, organizations are also investing highly in R&D activities, intending to develop next-generation memory capability technology. Thus, it will boost the growth of the global non-volatile memory (NVM) market during the study period.
The growing number of smartphones with NVM is forecast to offer ample growth opportunities for the market. The growth of the market is attributed to the increasing production of high-performance smartphones. In addition, the advantages of these smartphones, such as sophisticated processors and faster data access, will contribute to the growth of the market during the study period.
The low endurance rate of NVM memory may hamper the growth of the market during the study period.
The growing number of technologically developed memory storage technologies like MRAM, 3D XPoint, and NRAM will contribute to the market growth. Furthermore, the increasing adoption of NVM in the financial sector will help the non-volatile memory market grow rapidly during the forecast period. Fujitsu Semiconductor Memory Solution Limited launched an advanced 8Mbit FRAM MB85R8M2TA with a parallel interface in 2021. It is considered the first product to guarantee 100 trillion read/write cycle times in Fujitsus FRAM product line.
Geographic Analysis
North America is forecast to hold dominance in the global non-volatile memory market in terms of revenue. The growth of the regional market is attributed to the high R&D support and rising disposable income.
Asia-Pacific non-volatile memory (NVM) market is forecast to register a considerable growth rate due to the infrastructure development and increasing demand for telecommuting and online entertainment. Further, rapidly growing sectors, such as automotive & consumer electronics manufacturing, will offer ample growth opportunities for the Asia-Pacific non-volatile memory market.
Competitors in the Market
Samsung
Intel Corporation
TOSHIBA CORPORATION
Western Digital Corporation
FUJITSU
Adesto Technologies Corporation
Micron Technology, Inc.
Viking Technology
Yangtze Memory Technologies Co., Ltd.
CrossBar, Inc.
Other prominent players
Market Segmentation
The global non-volatile memory (NVM) market segmentation focuses on Application, Type, Industry Vertical, and Region.
By Application
Consumer Electronics
Healthcare Monitoring
Automotive Application
Enterprise Storage
Industrial
Others
By Type
Electrically addressed
Mechanically addressed
Others
By Industry Vertical
Telecom & IT
Healthcare
Automotive
Energy & Power
Manufacturing Industries
Others
By 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
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