Segmentation By Type (Electrically Addressed, Mechanically Addressed, FRAM, Zero-RAM, Nanobridge and Molecular); By Application (Automotive Application, Enterprise Storage, Consumer Electronics, Healthcare Monitoring, Industrial); By End-Use Industries (Telecom & IT, Healthcare, Automotive, Energy & Power and Manufacturing Industries) - Global Demand Analysis & Opportunity Outlook 2027
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Our in-depth analysis segmented the global non-volatile memory market in the following segments:
By Type:
By Application:
By End-Use Industries:
By Region
The global non-volatile memory market is further classified on the basis of region as follows:
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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.
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.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
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