The non-volatile memory market is projected to grow at a CAGR of 0.81% to reach US$64.887 billion by 2024, from US$61.830 billion in 2018. The growing number of connected devices is leading to increasing demand for storage solutions which is significantly boosting the growth of the market. Further, the growing number of investments in data centers is further providing an opportunity for the non-volatile memory product providers to generate higher revenues. Simultaneously, increasing storage densities in smartphones and laptops is further supplementing the growth of the market. the non-volatile memory market has been segmented on the basis of type, end user and geography. In the type segment, Flash is anticipated to grow significantly on account of the increasing demand for data storage along with the larger data storage, faster processing and cheaper cost features of flash memory. In the end user segment consumer electronics is projected to grow substantially on account of the increasing disposable income and rising technological development in the smartphone market. Geographically, Asia Pacific is anticipated to be a grow at a notable rate owing to the increasing investments in data centers. Simultaneously, the increasing production of smartphones and automobiles in countries like China and India is projected to boost the market for non-volatile memory during the forecast period.
The major players profiled in the Non-volatile Memory market include Samsung Electronics Co. Ltd, SK Hynix, Inc., Intel Corporation, Toshiba Memory Corporation, Micron Technology, Inc., Western Digital Corporation, Microchip Technology Inc., Adesto Technologies Corporation, Fujitsu Limited, Viking Technology, and ATP Electronics Inc.
The Non-volatile Memory markethas been analyzed through the following segments: