Non-volatile memory is electrically programmable and erasable memory that is utilized for storing changes in a particular location within the storage device and is capable of retaining the change even in case of a power outage. Non-volatile memory is used for long term persistent storage of data. NVM uses user-configurable technology which does not need periodic refreshment of the memory. The memory devices such as flash disk, magnetic tapes and hard-disk are some of the major examples of NVM. Consumer electronics is one of the major application segments of the NVM. The main property of NVM is that it can store large data with less power usage and high reliability.
Market Size and Forecast
The global non-volatile memory market is anticipated to expand at a CAGR around 11% during 2017-2027. The growing demand for consumer wearable electronics and substitution of flash memory storage is expected to provide new growth opportunities for the non-volatile memory market.
The global non-volatile memory market can be segmented on the basis of type, application and end-use industries. On the basis of application type it is further sub-segmented into automotive application, enterprise storage, consumer electronics, healthcare monitoring, industrial and power & energy distribution. Consumer electronics sub-segmented is anticipated to grow at the fastest rate on the account of rapid development in electronics segment. The technological development such as 3D XPoint, MRAM, SONOS, NRAM, CBRAM, NVDIMM, FeRAM and etc, is anticipated to boost the market growth for non-volatile memory.
By region, global non-volatile memory market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia Pacific is anticipated to be the dominating region of the global non-volatile memory market. This is attributed to the increasing population coupled with the rising disposable income of the population. Moreover, high penetration of smartphone that utilizes non -volatile memory is expected to upsurge the overall non-volatile memory market during the predicted period. In Asia Pacific region countries such as China, India, Japan, and South Korea are expected to contribute significant market share in the forthcoming years.
Our in-depth analysis segmented the global non-volatile memory market in the following segments:
By End-Use Industries:
The global non-volatile memory market is further classified on the basis of region as follows:
Growth Drivers and Challenges
The increasing demand for storage devices is the major driver for the non -volatile memory market. The constant decrease in the profits of traditional memory storage devices is expected to further augment the demand for the non-volatile memory. Emergence of the technological developments related to memories is anticipated to boost the demand for the global non-volatile market.
The major restraints associated with the global non-volatile memory market are high design cost.
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