PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397095
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397095
Embedded Non-Volatile Memory Market size was valued at USD 520.3 Million in 2022, expanding at a CAGR of 38.4% from 2023 to 2030.
Embedded non-volatile memory, commonly known as eNVM, is a tiny chip that can be found in microcontrollers and other hardware devices. Its primary function is to store data for various purposes such as data encryption, programming, trimming, identification, coding, and redundancy. eNVM technology offers in-system re-programmability, low voltage, low power, noise reduction, and increased reliability, all while maintaining high speed and high-density system performance. Compared to stand-alone Flash memory, eNVM has many advantages, including reduced system cost. With its impressive density and power consumption capabilities, NVM is quickly becoming an essential component in the memory hierarchy and may even revolutionize our understanding of computer architecture in the future.
The market is anticipated to experience significant growth due to the surging demand for Internet of Things (IoT) End-Users in order to build smart devices.
Edge computing, a crucial component of IoT architecture, can greatly benefit from embedded non-volatile memory. This allows for data processing and storage to occur in close proximity to IoT devices, resulting in reduced latency. As the IoT ecosystem continues to evolve, the demand for efficient, secure, and customizable memory solutions will drive the increasing adoption of eNVM technologies in the development of smart devices. According to IoT Statistics, IoT spending reached USD 749 billion in 2020 and is predicted to reach USD 1 trillion in 2022. Ongoing research and development in emerging non-volatile memory technologies, such as ReRAM and FeRAM, offer opportunities for innovation and improved performance. However, technology challenges may pose as barriers to the widespread adoption of eNVM technologies.
The Global Embedded Non-Volatile Memory Market is segmented on the basis of Product Type, End-User, and Region.
The market is divided into three categories based on product type: eFlash, eE2PROM, eOTP/eMTP, eFRAM, eMRAM, and Others. eFlash segment dominates the market. eFlash is a type of non-volatile memory that retains data even when power is turned off. It is commonly used in microcontrollers and other embedded systems for program storage. The market is largely dominated by the eFlash segment. eFlash, a form of non-volatile memory, has the ability to preserve data even when power is disconnected. It is widely utilized in microcontrollers and various embedded systems for storing programs.
The market is segmented into five distinct categories according to their End-User: Automotive, Consumer Electronics, IT and telecommunication, Media and entertainment, Aerospace and Defense, and Others. The adaptability of eNVM renders it an essential element in numerous electronic devices, enhancing their dependability, performance, and data storage capacities. The aforementioned End-Users underscore the extensive utilization of eNVM across various industries and technologies.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific region is projected to lead the market growth, driven by the rising demand for automotive electronics. The increasing popularity of electric vehicles in the Asia Pacific, supported by government initiatives, environmental concerns, and consumer preferences, necessitates advanced embedded non-volatile memory solutions for storage and control systems in EVs. In July, China saw significant progress in over 45 semiconductor projects, with a total investment of more than RMB80 billion (USD 11.02 billion). Automotive electronics was the leading field, accounting for about 23% of these projects. The surge in investments can be attributed to the automotive chip shortage, as highlighted in a recent JW Insights report. Meanwhile, North America and Europe are expected to fuel market growth in the forecast period, due to the growing demand for high-performance computing, artificial intelligence, and machine learning End-Users.
The increasing demand for higher performance in the memory market is being driven by the continuous development of new memory technologies and their End-Users. These cutting-edge memory classes, incorporating the latest technology, are anticipated to fuel future growth in the Embedded Non-Volatile memory market. Nonvolatile memories present a wide range of opportunities and are utilized in various sectors, including consumer electronics, automotive, computers, and communication. The competition among major players in the embedded non-volatile memory market is influenced by factors such as technological advancements, performance, scalability, and cost-effectiveness. Key players are constantly striving to outdo one another by innovating new eNVM technologies and offering more advanced features. Additionally, with the growing importance of security in various End-Users, embedded non-volatile memory solutions with enhanced security features are garnering significant attention.
On March 15, 2023, Texas Instruments (TI) is broadening its analog and embedded processing semiconductor offering with the introduction of a scalable Arm Cortex-M0+ microcontroller (MCU) range with a variety of pinout, memory, computing, and integrated analogue choices.