The memristors market is evaluated at US$1,126.123 million in 2020 and is projected to witness a rapid growth over the forecast period.
Memristors refers is a non-volatile electronic memory device that offers competitive features against conventional RAM and flash drives which helps to process and storing of datathe memristors take less power to operate without compromising upon speed as compared to current solid-state storage technologies. The memristors is capable of storing twice the data as compared to other alternatives as flash drives. Memristors are virtually free from radiation, which can disrupt transistor-based technologies shortening the operability life of the electronic devices resulting in replacement or wear-tear. The demand for memristors is heavily based upon consumer electronics, smart appliances, and computing devices involving the processing and transfer of data.
With the development in artificial intelligence (AI) and the internet of things (IoT), neuromorphic computing, and hardware security, the memristors and semiconductors responsible for data transmission become vital. The volatile conventional memristors generally get exposed and tampered causing default in device operating capability, the machine. The memristors are capable to bypass the wiring and replace the complex structure for devices with a small chip. For instance, HP is expected to sell memristor-based computers by 2020 which aims to solve size and speed complexities, long-term data storage, and logic gates enabling advanced computing. The electronic devices firms is expected to transform to the technology as the consumers demand dynamic features in the machines. Moreover, the emergence of spintronics will lead to more advanced storage and processing of the data.
The Memristors market is segmented by Type as Molecular and Ionic Thin Film, Spin and Magnetic. The applications Digital memory, Logic circuits, Biological and Neuromorphic Systems, Others.
Under the COVID-19 pandemic, the demand for the smart device's phone, and laptops has been in decline in then lockdown, however, post lock the market restraining preventive condition has created an urgent demand for the smart devices to gain internet access. Since, the demand for the Memristors is associated with a device enabling communication, access to the internet, and other related services offering multiple benefits, the demand is likely to go up. To visualize the scale, in the post lockdown scenario the users of WhatsApp, Zoom meetings, Google Duo, which are social media and online communicating platforms surged showing the trend of usage of smart devices across the globe. The devices used for video calling/ sharing, content creation, and leisure. For such operations, memristors are required. In fact, in the lockdown scenario, smart devices have enabled stakeholders such as citizens, government, private and public corporations in managing their work processes and tracing and containing the virus. These applications could have taken a setback without the efficient development of memristors.
FIGURE: Memristors market, US$ million, 2020 to 2026
Growth in Consumer Electronics Industry
As the internet penetrates around the globe and the number of users of smartphone and smart features enabled devices increases, the demand for the memristors increases. As per the data by GSMA, almost half of the global population uses the internet. As more people are added to the internet spectrums, the demand for high data processing, high-speed devices such as smartphones, computers, and others is expected to go up. Now in the developed and developing urban areas, the consumers are shifting to the wearable durables segment which requires nano-memory transmitters for processing the data and make it accessible readily. The memristors offer faster computing and processing as compared to conventional memory transmitters. For instance, IBM and Samsung have undertaken the development of non-volatile RAM which is expected to be a hundred thousand times faster than the NAND flash and does not wear out. The companies use spintronics like spin-torque technology for developing low-capacity memory chips for the Internet of Things devices (IoT), mobile devices, and devices using NAND to store the data. Moreover, as per the research and development, in January 2020, MIT engineers have created memristors by adding a thousand units of artificial brains in a single-chip that simulates as that of the human brain. Such memristors are appropriate for neuromorphic computing to be used in robots.
FIGUR: Memristors market, By type, US$ million, 2020 to 2026
North American nations such as the United States, Canada have demand for the Memristors attributed to the heavy investments in the research and developments by the market players such as Intel, IBM, Texas Instruments, and others. The research and development base of the American giants remain exhaustive makes America a favorable location. The growth is also influenced by the utility of the upcoming trends such as Neuromorphic Computing, automotive, fabricated electronics such as wearables, Internet of things, and others. Asia being house to the majority of users of smart devices have enormous potential for the memristors as a component in device assembly. Asian-pacific market such as Japan, South Korea, Taiwan, and China is regarded as the manufacturers for the memristors as it offers cheap labor with equivalent competitiveness in developing advanced machinery. Emerging nations such as India is expected to have emerging potential contributing to the supply of memristors comparing it equally equipped as that of China in terms of technical and human expertise.