Global Non-Volatile Memory Market was valued at US$ 52.87 Bn in 2019 and is expected to reach US$ 117.54 Bn by 2027, at a CAGR of 10.5% during a forecast period.
Non-volatile memory utilizes user-configurable technology, which does not need periodic refreshment of the memory, unlike the volatile memory. Hard disk, flash memory, and magnetic tape is the most common examples of non-volatile memory. Currently, non-volatile memory finds its wide application in data centers and consumer electronics, which boost the data transfer speed and prevent data loss.
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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding non-volatile memory market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in non-volatile memory market.
Non-volatile memory market is estimated to grow moderately in the upcoming years owing to high-speed data access and optimized power consumption. Increasing demand for non-volatile memory is connected and wearable devices, highly scalable and low power consumption memory devices and rising usage of next-generation non-volatile memory in mobile phones to boost customer experience are the factors to drive the growth of the global non-volatile memory market. However, low write endurance rate, high design cost, and storage capability are the major drawbacks hindering the market growth. Moreover, increasing adoption of high-end computing, servers, and data centers, and development of advanced storage technologies such as SONOS, MRAM, and NRAM 3D XPoint are projected to present potential growth opportunities over the forecast period.
Telecom & IT vertical is expected to keep its lead in the non-volatile memory market as huge amount of customers data is generated in telecom on a regular basis that more necessitates the storage requirement or efficient datacenter. Moreover, automotive is estimated to the highest CAGR during the forecast period. This is owed to the improvements in technology and augmented production.
Electrically addressed is the leading memory type and usually used in consumer electronics. Among several electrically addressed memory types, NVRAM is leading the market share and would continue this trend throughout the forecast period.
Asia-Pacific region is expected to dominate the non-volatile memory market owing to growing mobile phone industry and computer and technology sector. Moreover, the factor that contributes to this growth is the presence of major industry contributors in countries such as China, Japan, and India. The number of data centers is also rising and automotive, electronics sectors are also developing so favoring the market growth in North America.
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Scope of the Global Non-Volatile Memory Market
Global Non-Volatile Memory Market by Type
• Electrically Addressed
o Emerging Memory
• Mechanically Addressed
o Magnetic Tape
o Hard-Disk Drive
o Optical-Disc Drive
o Millipede memory
o Holographic data storage
Global Non-Volatile Memory Market by Application
• Consumer Electronics
• Healthcare Monitoring Application
• Automotive & Transportation Application
• Enterprise Storage
Global Non-Volatile Memory Market by Vertical
• Telecom & IT
• Energy & Power
• Manufacturing Industries
Global Non-Volatile Memory Market by Geography
• North America
• Middle East & Africa
• South America
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