Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWS· September 2016: Spin Memory, Inc. (STT), announced that it has fabricated perpendicular MRAM magnetic tunnel junctions ([MTJs] is the primary component of an MRAM memory cell and core technology of an MRAM device) as small as 20nm which is among the smallest MTJs reported till date.
Introduction to Magneto resistive ram (MRAM)
Magneto resistive ram (MRAM) is a process of storing data bits that uses electron spin to store information which is used by dynamic RAM. It is the result of an amalgamation of advantages of both dynamic RAM and static RAM. Magneto resistive ram (MRAM) has high performance compared to traditional memory devices and are much faster, consume lesser power, and are capable of preventing data loss. Magneto resistive ram (MRAM) technology is robust and reliable over extreme temperature ranges so they are used to assist electronic product to store huge amount of data while ensuring fast accessing speed and consume less battery power.
Market Size and Forecast
Increasing adoption of digitalization and technological advancement such as Internet of Things (IoT) and cloud computing along with the increasing demand for electronic products are some of the significant factors boosting the market growth. According to United States Census Bureau, in 2016, 76% of households had a smartphone and desktop or laptop computers were used by 77% of households.
The magneto resistive ram (MRAM) market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by application into consumer electronics, aerospace and defence, robotics, enterprise storage, automotive and others. Among these segments, the segment for consumer electronics is anticipated to grow at the highest rate in the magneto resistive ram (MRAM) market as a result of increasing adoption of smartphones, laptops, electronic wearables and digital cameras which utilize advanced memory devices to ensure low energy consumption and reduce the boot up time. CLICK TO DOWNLOAD SAMPLE REPORT
Growth Drivers
Potential to Replace Alternate Memory Products to Boost the Market Growth
Increase in research activities to develop innovative read access memory products such as embedded and discrete MRAMs fuels the growth of market. Additionally, the magneto resistive ram (MRAM) holds the potential to replace flash memory and other electrically erasable programmable read-only memory (EEPROM). This is anticipated to significantly expand the magneto resistive ram (MRAM) market.
Growing Demand in Electronic Devices and Aerospace Industry to Drive the Market Growth
There is an increased demand for low-cost, small-size, power-efficient MRAMs in electronic, aerospace, defence and military systems owing to its favourable physical characteristics such as endurance to high radiation, operation in extreme temperature, tamper-resistant and faster computing. Additionally, its applications in enterprise storage solutions reduces the overall system downtime which further spurs the market growth. On the back of these, the global magneto resistive RAM (MRAM) market is predicted to grow over the forecast period.
Restraints
High Costs and Complex Interface to Hamper the Market Growth
Despite the technological advancements, there is a high cost involved in designing and manufacturing which negatively affect the market growth. Further, the interface problems associated with memory is estimated to hinder the growth of magneto resistive ram (MRAM) market in the future.
Market Segmentation
Our in-depth analysis of the magneto resistive ram (MRAM) market includes the following segments:
By Technology
By Product
By Application
By Region
On the basis of regional analysis, the magneto resistive ram (MRAM) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market for magneto resistive ram (MRAM) in North America is anticipated to hold the largest share in the market on account of presence of leading market players in the region which manufacture and market magneto resistive ram (MRAM). Moreover, the enterprises are shifting towards data centres in order to reduce the cost of technology infrastructure and to achieve faster computation, lesser power consumption and better scalability which further increases the product demand. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of advancements in infrastructure of data centres and information technology hubs. Additionally, the increased usage of internet and penetration of cloud computing along with the large number of memory manufacturers in the countries such as China and India owing to ample availability of raw material and cheap labour, further raise the demand for magneto resistive ram (MRAM) market.
The magneto resistive ram (MRAM) market is further classified on the basis of region as follows:
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