NOR Flash Memory Market estimated to grow at a CAGR of 3.32% to reach US$2,327.870 million by 2024
NOR flash memory is a type of non-volatile storage technology. The type of memory that does not require power to store the data is called non-volatile memory. For long term storage or secondary storage, this type of memory is very commonly used.
The report provides detailed forecast and analysis of the NOR flash memory market which is projected to expand at a CAGR of 3.32% over the forecast period 2018-2024. The NOR flash memory market is expected to surge during the forecast period due to the fact that this type of non-volatile memory has many uses in different industries like automotive, wireless, medical and other industrial applications. Moreover, the increasing demand for different and better consumer electronics and communication devices is rising which will bolster the market growth. The NOR flash memory market has been segmented on the basis of type, end-user industry and geography.
Geographically, Asia Pacific is expected to hold a significant share in the market owing to the fact that there has been an increase in the manufacturing of semiconductors in different countries of the region. By industry, the communication industry is expected to hold a significant amount of share in the market due to the usage or NOR flash memory in mobile phones and many communication devices. Furthermore, the upcoming better products and investments by key players will continue to drive the NOR flash memory market in the coming years. For example, in 2018, Micron Technology, Inc., unveiled a new NOR flash product which is enabled by Authenta technology which provides authentication of content and command at a silicon level and also provides additional defenses to IoT devices which can easily increase the security of these devices. Also, another company GigaDevice launched a new SPI NOR flash series which is the smallest in the industry and also designed for usage under low power consumption.
In September 2019, Alliance Memory announced that they have introduced a new 5V Parallel NOR flash memory products in the boot and uniform sectored architectures. The device allows fast and low latency read speeds thereby allowing for both data storage and code execution. Cypress Semiconductor Corp. also announced its new Semper NOR flash memory. The product is defined as a mix of reliability and safety and has different functions in the automotive and industrial applications.
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Some of the major players covered as part of the report are Cypress Semiconductor Corporation, Macronix International Co., Ltd., Micron Technology, Inc., GigaDevice, and Winbond among others.
This NOR flash memory market has been segmented as follows
- By Type
- Serial NOR Flash
- Parallel NOR Flash
- By End-User Industry
- Consumer Electronics
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
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