Emerging Non-Volatile Memory Market Size, Share, Opportunities And Trends By Type (Magneto Resistive Random Access Memory (MRAM), Spin-Transfer Torque Random Access Memory (STT-RAM), Ferroelectric Random Access Memory (FRAM), Resistive Random Access Memory (ReRAM), 3D NAND, Others), By Application (Automotive, Consumer Electronics, Communication, Aerospace, Healthcare, Others), And By Geography – Forecasts From 2023 To 2028

  • Published : Feb 2023
  • Report Code : KSI061614382
  • Pages : 138

Market Overview:

Non-volatile memory (NVM) is a type of computer memory that can save data even when the power is switched off. Unlike volatile memory, NVM does not require its memory data to be refreshed regularly. It is commonly used for both secondary storage and long-term continuous storage. Non-volatile memory is frequently employed in memory chips for USB memory sticks and digital cameras, and it is widely used in digital media. Non-volatile memory eliminates the need for sluggish secondary storage systems such as hard discs. The acceptance of memory devices across a wide range of end-user industries, including consumer electronics, corporate, industrial, and others, is expected to drive significant growth in the growing non-volatile memory market.

The consumer electronics segment is projected to grow due to an increase in smart wearables with NVM

Non-volatile memory is widely used in smart technologies and consumer electronics. High-capacity memory solutions with a high data transfer rate are used to store data in a variety of linked devices, wearable devices, and other portable devices. For instance, in March 2022, Fujitsu Semiconductor Memory Solution Limited announced the release of the MB85AS12MT, a 12Mbit ReRAM (Resistive Random Access Memory) with the highest density in Fujitsu's ReRAM product family. During read operations, it has an extremely low read current of 0.15mA on average. This product is suited for usage in wearable devices such as hearing aids and smartwatches due to its tiny package size and low read current. Non-volatile memory is also gaining popularity in next-generation devices like smartwatches and hearing aids. Thus, the recent surge in consumer electronics demand, particularly for smart wearables, is projected to fuel global demand for nonvolatile memory.

Magneto resistive Random Access Memory (MRAM) segment holds a significant market share due to its utilization in AI

The Magneto resistive Random Access Memory (MRAM) segment in the Non-volatile Memory Market is expected to increase throughout the forecast period. The exponential growth in the adoption of cloud solutions, as well as the increased penetration of AI, ML, and IoT-connected devices, has increased demand for non-volatile memory such as MRAM and computer data storage, which provide operation speed, endurance, and large-scale production. For instance, Researchers at Samsung Electronics have succeeded in developing an MRAM array chip that demonstrates in-memory computing by replacing the standard, 'current-sum' in-memory computing architecture with a new, ‘resistance sum' in-memory computing architecture that addresses the problem of individual MRAM device resistances. These facts demonstrate the growing demand for MRAM, which has a favourable impact on the Non-volatile Memory industry. Furthermore, MRAM devices are appropriate for high-speed nonvolatile memory applications like program storage and data backup in space and aerospace systems. For instance, In May 2021, Micross Components, Inc entered into a special partnership with Avalanche Technology. Macross and Avalanche have introduced a variety of memory devices based on this best-in-class technology to satisfy the requirement for more compact and lower-power solutions designed for high-reliability aerospace and space applications.

Key Developments: 

  • June 2022: STMicroelectronics has made a non-volatile memory breakthrough with the industry's first Serial Page EEPROM. The novel architecture enables designers to combine firmware administration and flexible data storage in the same device, a previously unattainable combination. These devices are perfect for incorporating all-in-one nonvolatile memory into new system designs for applications such as industrial IoT modules, wearables, healthcare, medical, electronic shelf-edge labelling, smart meters, and 5G optical fibre modules.
  • March 2021: Infineon Technologies LLC, a subsidiary of Infineon Technologies AG, has announced the release of its second-generation non-volatile Static RAMs (nvSRAM). The new generation of devices is qualified for QML-Q and high-reliability industrial criteria, allowing them to support demanding non-volatile code storage and data-logging applications in hostile environments such as aerospace and industrial.

During the forecast period, Asia-Pacific will have a significant market share.

Asia-Pacific is one of the world's greatest markets for new nonvolatile memories. Almost all end-user apps are in high demand in the region, which is primarily driven by the demand for smartphones in several developing countries such as China and India. According to Invest India, the Government of India's National Investment Promotion and Facilitation Agency, India's digital economy would be worth $1 trillion by 2025. Electronic device adoption is being accelerated by technological breakthroughs such as the deployment of 5G networks and IoT. Initiatives such as the 'Digital India' and 'Smart City' programs have increased demand for IoT in the electronics device market, ushering in a new era for electronic items. Furthermore, new infrastructure, including data centres, is being built in China. With the rapid development of the digital economy, the importance of constructing massive, large data centres in the country is growing. For example, the Chinese government established a new hub for big data operations in Lhasa in November 2022. The big data centre is said to be the first of its kind in the region and a step toward big data integration and application sharing. This has increased the use of developing non-volatile memory in such data centres, which helps reduce downtime caused by a power outage or system crash event, offering significant financial benefits.


  • By Type
    • Magneto resistive Random Access Memory (MRAM)
    • Spin-Transfer Torque Random Access Memory (STT-RAM)
    • Ferroelectric Random Access Memory (FRAM)
    • Resistive Random Access Memory (ReRAM)
    • 3D NAND
    • Others
  • By Application
    • Automotive
    • Consumer electronics
    • Communication
    • Aerospace
    • Healthcare
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • Others


1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline



2.1. Research Data

2.2. Assumptions



3.1. Research Highlights



4.1. Market Drivers

4.2. Market Restraints

4.3. Market Opportunities

4.4. Porter’s Five Force Analysis

4.4.1. Bargaining Power of Suppliers

4.4.2. Bargaining Power of Buyers

4.4.3. Threat of New Entrants

4.4.4. Threat of Substitutes

4.4.5. Competitive Rivalry in the Industry

4.5. Industry Value Chain Analysis



5.1. Introduction

5.2. Magnetoresistive Random Access Memory (MRAM)

5.3. Spin-Transfer Torque Random Access Memory (STT-RAM)

5.4. Ferroelectric Random Access Memory (FRAM)

5.5. Resistive Random Access Memory (ReRAM)

5.6. 3D NAND

5.7. Others



6.1. Introduction

6.2. Automotive 

6.3. Consumer electronics 

6.4. Communication

6.5. Aerospace 

6.6. Healthcare 

6.7. Others 



7.1. Introduction

7.2. North America 

7.2.1. USA

7.2.2. Canada

7.2.3. Mexico

7.3. South America 

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe 

7.4.1. UK

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Others

7.5. Middle East and Africa 

7.5.1. Saudi Arabia

7.5.2. UAE

7.5.3. Others

7.6. Asia Pacific 

7.6.1. China

7.6.2. Japan

7.6.3. India

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Others



8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Vendor Competitiveness Matrix



9.1. TSMC 

9.2. Fujitsu Ltd  

9.3. Infineon Technologies  

9.4. Intel Corporation  

9.5. CrossBar Inc  

9.6. Renesas electronics  

9.7. Honeywell  

9.8. Everspin Technologies  

9.9. Micron Technology 


Fujitsu Ltd 

Infineon Technologies 

Intel Corporation 

CrossBar Inc 

Renesas electronics 


Everspin Technologies 

Micron Technology