The global non-volatile memory market is projected to witness a rapid growth during the forecast period owing to increasing demand for highly scalable memory devices and growing demand for non-volatile memory in connected and wearable devices. Moreover, increasing demand for non-volatile memory across various industry verticals such as BFSI, healthcare, manufacturing, retail and IT & telecommunications is driving the growth of the global market.
The global Non-Volatile Memory Market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World. In the global non-volatile memory market, Asia Pacific is anticipated to hold the largest market share of the non-volatile memory market and witness significant growth during the forecast period as compared to other regions. This is owing to the growing need for low power consuming and highly scalable memory devices in the region. Other reasons for the growth in Asia Pacific market include the favorable government initiative in countries like China, which is considered as the manufacturing hub for the electronics. China also has access to a large amount of funding and hence is driving the growth of non-volatile memory market. Also, presence of technology giants like Samsung and Hynix in the non-volatile memory market is another factor responsible for fuelling the market growth.
The global non-volatile memory market is projected to reach USD 90 billion at a CAGR of over 11% by the end of the forecast period 2017-2023.
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The North America market is expected to witness a significant growth in the global non-volatile memory market during the forecast period. The U.S and Canada are anticipated to drive the growth of the non-volatile memory market in North America region owing to the presence of large number of established key players such as Micron Technology, Inc., Western Digital Corporation, Fujitsu Ltd., Intel Corporation and IBM Corporation in this region. Due to the sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows higher penetration of devices and ultimately provides better connectivity.
Non-Volatile Memory Market Segmentation
The global non-volatile memory market is segmented on the basis of the type, application and vertical. The type size segment is classified emerging and traditional. However, the traditional segment comprises of FLASH, non-volatile SRAM, embedded non-volatile memory, EPROM and SPROM. Out of which, embedded non-volatile memory is expected to hold the largest market of the traditional non-volatile memory market. This is owing to the increasing demand for embedded non-volatile memory in the connected devices market.
Some of the prominent players in the global non-volatile memory market: Samsung Electronics Co., Ltd. (South Korea), Toshiba Corporation (Japan), Micron Technology, Inc. (U.S.), SK Hynix, Inc. (South Korea), Western Digital Corporation (U.S.), Fujitsu Ltd (U.S.), Intel Corporation (U.S.), IBM Corporation (U.S.), Nantero (U.S.), Crossbar Inc. (U.S.), Synopsys Inc. (U.K), Adesto Technologies (U.S.), Everspin Technologies (U.S.), Viking Technology (U.S.), Kilopass Technology Inc. (U.S.), Avalanche (U.S.), Cypress Semiconductor Corporation (U.S.), NXP Semiconductor (the Netherlands), Rambus (U.S.), Texas Instruments (U.S.), Spin Transfer Technologies (U.S.), 4DS (Australia) and Open-silicon (U.S.).
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Market Research Analysis
Asia Pacific is estimated to account for the largest share of the market, whereas North America market is projected to grow at the fastest rate during the forecast period. The Asia Pacific market is witnessing a rapid growth due to technological advancements and increasing demand for high speed and low power consuming memory devices across different industry verticals in this region.
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