Market Research Future (MRFR) says in its new report that the global serial NOR flash market can capture a growth rate of 4.8% during the forecast period (2018-2025). The report also mentions that the market has the potential to touch a valuation of USD 1,306.9 million by 2025.
Top Drivers and Key Barriers
Over the past couple of years, Serial NOR Flash Market has transformed significantly, giving way to better memory size along with physical interface options. It finds widespread use in computation as well as data storage applications. Numerous end-use electronic products like touch screens, display controllers, and AMOLED panels consist of serial NOR flash. Rising urbanization coupled with technological advancements across the world has resulted in the exponential growth of the serial NOR flash market.
There is a robust demand for portable electronic devices that have a stable memory and are light weight. These types of devices are purpose-built and are used on a regular basis. Serial NOR has become an ideal alternative to parallel NOR, given its space efficiency, higher pin-count, reduced chip cost, enhanced performance and system cost.
The hike in the number of consumer electronic products with AMOLED panels, soaring demand for touch and display integration (TDDI) chips and the increasing use of serial NOR chip in IoT-backed components also boost the demand for the serial NOR flash market. With technology trends like artificial intelligence (AI) and industrial automation picking up steam, a host of new avenues is anticipated to emerge for the serial NOR flash market.
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The study covers the competitive landscape with inclusion of companies like Elite Semiconductor Memory Technology Inc., Integrated Silicon Solution Inc., Macronix International Co., Ltd, Microchip Technology, Inc., Winbond Electronics Corporation, GigaDevice Semiconductor Inc., Cypress Semiconductor Corporation, to mention a few.
The MRFR report includes a thorough segmental distribution of the serial NOR flash market, which includes type and application.
The types of serial NOR flash are 1 MB, 4 MB, 8 MB, 32 MB, and others [high-density serial NOR memory (above 32 MB)]. The others segment forms the largest market and can demonstrate a growth rate of 4.93% during the appraisal period, which is much higher than its counterparts. The main reason could be the rising focus on the development of advanced controller functions combined with the surging popularity of plug-in memory.
Considering the application category, the market segments are IT, consumer electronics, communication, automotive and industrial, and others. Revenue-wise, the consumer electronics segment stands at the top position in the market. Further, the automotive and industrial segment can post a better growth rate in the following years. Serial NOR flash has numerous applications in instrument cluster and advanced driver assistance systems (ADAS) in automobiles.
Regions as per which the global serial NOR flash market has been extensively studied include Europe, China, North America, South Korea, Japan, and Rest of the World (RoW).
In terms of value, China controlled a share of 34.32% in the global market in 2017. The serial NOR flash market in China currently holds the value of USD 300 million and has the potential to record a growth rate of 5.8% during the estimated period. Over the past few years, a sharp increase has been noted in the demand and supply of serial NOR flash in the country, with a strong likelihood of this trend continuing throughout the next couple of years. China is also a leading supplier of serial NOR flash to sectors like automobile manufacturing and electronic appliance manufacturing. China boasts of a massive consumer base, which makes it a prominent investment destination for industry participants. In addition, strong government support along with increasing investment in electronics manufacturing also induces market growth in China.
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North America has been recognized as the second-most profitable market for serial NOR flash. The North America market value in 2017 was USD 185.5 million and it is expected to attain a growth rate of 4.4% during the conjectured timeframe. The regional market benefits from the high concentration of renowned serial NOR flash manufacturers like Cypress Semiconductor Corporation, Micron Technology, Inc., Integrated Silicon Solution Inc. etc.
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