Serial NOR Flash Market: Current Analysis and Forecast (2022-2028)

NOR Flash Memory is a type of Non-Volatile Memory (NVM) that is used in electronic devices to store data. NOR Flash Memory offers many benefits for device manufacturers and consumers, such as a high read/write speed, low power consumption, and compact size. Furthermore, Serial and Parallel are the two types of NOR flash memory. Serial NOR Flash is also known as SPI NOR, where SPI stands for "Serial Peripheral Interface". It has sectors and pages, where sectors are larger than pages. A sector is a block of memory whose all contents can be erased at a time while the data is written on the pages.

The Serial NOR Flash Market is expected to grow at a strong CAGR of around 4% owing to the rapidly increasing number of smartphones, medical instruments, and the growing use of connected devices. Moreover, the incorporation of advanced features in automobiles such as internet of things (IoT) compatibilities, advanced driver assistance systems (ADAS), automatic cruise controllers, expansion of the automotive and electronics sectors, and the growing investment of governments in chip manufacturing further influence the market. For instance, In June 2021, the U.S. Senate passed the United States Innovation and Competition Act (USICA), broad competitiveness legislation that includes USD 52 Bn to strengthen domestic chip manufacturing, research, and design.

Based on type, the market is segmented into 1 MB, 4 MB, 8 MB, 32 MB, and others. The 32 MB segment catered to a significant share of the market in 2020. This is mainly due to the various features of 32 MB such as continuous read of entire memory via a single command, flexible to fit application, 64-byte, user-lockable, one-time programmable (OTP) dedicated area, write protection, more than 20 years data retention, minimum 100,000 ERASE cycles per sector, and erase capability

By end-user industry, the market is classified into information and communication technology, automotive, consumer electronics, and others. The information and communication technology segment held a prominent share of the market in 2020 and is expected to grow at a strong CAGR during the forecast period owing to the growing demand for semiconductor chips all around the globe. For instance, according to the Semiconductor Industry Association (SIA), in 2021, information and communication technology captured 75.6 percent of the global semiconductor market

For a better understanding of the market adoption of the serial NOR flash industry, the market is analyzed based on its worldwide presence in the countries such as North America (The United States, Canada, and the Rest of North America), Europe (Germany, The United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America captured a commendable share of the market in 2020. The region's large share can be attributed to the growing investment of the key market players in the semiconductor industry for the research and development of semiconductor chips. Additionally, the presence of a large semiconductor and chip industry is also contributing to the growth of the market

Some of the major players operating in the market include: Micron Technology Inc., Infineon Technologies AG, Winbond, Microchip Technology Inc., Alliance Memory, Macronix International Co. Ltd., Renesas Electronics Corporation, STMicroelectronics, Mouser Electronics Inc., and Intel Corporation