PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388793
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388793
Electronics makers continue to devote significant consideration to next-generation non-volatile memory technology. In the past few years, app development has gained momentum across a variety of client PCs and data centers. The need for non-volatile memory technology is being driven by the requirement for fast read/write speed, a simple structure, and scalability. Furthermore, the corresponding metal-oxide-semiconductor technique is easily compatible with next-generation nonvolatile technology. Manufacturing firms in various established and emerging economies have increased capital expenditures in response to recent advances in cache memory as well as spin logic technologies.
The global next-generation non-volatile memory market is increasing owing to innumerable variables, which involve the rising demand for universal storage and mass storage devices and accelerating demand for high, fast scalable, and economical memory solutions. Additionally, the declining popularity of conventional memory technologies is projected to play a major role in fueling the creation of new technologies, which should be more effective and provide quicker and faster solutions. The rising demand for next-generation non-volatile memory in numerous industrial applications and as a substitute for flash memory is likely to subsequently offer new opportunities for market growth over the specified period. High demand for flexible and wearable electronics may also provide new growth avenues for the industry. On the other side, high design costs and stability under extreme environmental conditions are likely to hamper the market growth.
The internet of things (IoT), artificial intelligence (AI), and big data, as well as the rising demand for enterprise storage, boost the market's expansion.
The global next generation non-volatile memory market is segmented on the basis of product, wafer size, organization size, application, and region.
The market is divided into four categories based on product: ReRAM, FeRAM, MRAM, and PCM. The ReRAM segment is accounted to witness highest growth rate over the coming future. The functional properties of memory types are usually classified with respect to the programming and erasing operations. Moreover, non-volatile memory is reliable and can be programmed adopting a easy microcomputer and in various modern electronic equipment; the segment witnessing for the majority of the next-generation non-volatile memory market
The market is divided into five categories based on application: embedded MCU & smart cards, mobile phones, industrial & automotive, cache memory & enterprise storage, and mass storage. The embedded MCU & smart cards segment is likely to maintain its dominance during the forecast period. Microcontrollers and smart cards are predicted to use MRAM, PCM, or STT-MRAM as a replacement to embed flash higher-density chips. The non-volatile memory might improve the performance and input performance of enterprise storage systems because of the rising demand for web-based information. Moreover, mobile phones segment attributed the adoption of PCM compared to NOR or flash memory.
By regional analysis, the next generation non-volatile memory market can be classified into North America, Asia Pacific, Europe, and the Rest of the World. The Asia Pacific is likely to witness the largest share due to the existence of key industry participants in various countries. In addition, the growing mobile phone and computer sector are also expected to favor regional growth. Moreover, North America is attributed to embracing infrastructure and cutting-edge technologies, with the IT sector playing a pivotal role in the United States. The substantial increase in data across various sectors and the rapid evolution of technologies necessitate more efficient processing systems, driving the demand for next-generation memory solutions in the region.
The global next-generation non-volatile memory market is accounting for a notable growth trajectory owing to the increasing emphasis placed by businesses worldwide on establishing advanced digital infrastructure. Moreover, the market expansion is greatly facilitated by increasing users in the gaming sector, as well as significant investments made by companies to improve research and development resources engage in collaboration projects, flourishing marketing efforts, and enhance distribution networks. These factors majorly contribute to the rapid expansion of the market. A detailed analysis of the firms' recent news and developments, including inventions, product development, joint ventures, mergers and acquisitions, partnerships, and strategic alliances is also gaining a competitive market landscape.
For instance, in November 2022, Samsung Electronics announced the start of mass production of a 1-terabit triple-level cell eighth-generation Vertical NAND (V-NAND) with the greatest bit density in the industry. The newly introduced V-NAND also has the greatest storage capacity to date, at 1Tb, allowing for more storage capacity in next-generation corporate server systems throughout the world.
The scope of this report covers the market by its major segments, which include as follows: