Non-Volatile Memory Market Worth $81 Billion by 2022 – MarketsandMarkets

According to the market research report Non-Volatile Memory Market by Type (Flash, NVSRAM, 3D NAND, 3D Xpoint, NRAM, FRAM, MRAM, NVDIMM), Application (Consumer Electronics, Energy & Power, Healthcare, Automotive, Enterprise Storage), and Geography – Global Forecast to 2022 (149 pages, $4,650)), published by MarketsandMarkets, the market is expected to be worth $80.54 Billion by 2022, growing at an estimated CAGR of 9.93% between 2016 and 2022.

The non-volatile memory market has a huge potential across all consumer electronics and enterprise storage applications. The factors driving the non-volatile memory market are growing smart phone shipment and number of data centers across the world. The growth of the non-volatile memory market is also driven by the growing need for high-speed, low-power consumption, high scalability and longer data retention capacity memories.

Emerging non-volatile memory is expected to grow
at the highest rate in the market
The emerging non-volatile memory market is expected to grow at highest growth rate between 2016 and 2022. Strong research over the past few years has led to evolution of several emerging non-volatile memory technologies such as MRAM, FRAM, 3D NAND, NVDIMM, ReRAM, 3D XPoint, and NRAM among others. These memories are expected to replace the traditional non-volatile memory technologies; this can be mainly attributed to the scalability and power consumption issues of the existing non-volatile memories.

The market for 3D NAND would grow
at the highest CAGR between 2016 and 2022
The market for 3D NAND memory-based products is expected to grow at the highest rate as 3D NAND mainly solves the scaling limitation problem in NAND and is expected to be used widely in consumer electronics products, such as smart phone, tablet, PCs, laptops and digital cameras and replace NAND memory completely in coming years.

APAC leads the non-volatile memory market
during forecast period in terms of market size
The non-volatile memory market in APAC accounted for the largest share and is expected to grow at the highest rate between 2016 and 2022. The reason for this growth is increasing electronic and automotive manufacturing activity; rising demand for high performance and low-cost memory devices is driving the non-volatile memory market in the APAC region. Thus, increase in manufacturing activities combined with the region’s emergence as a cost-effective consumer electronics production hub is expected to drive the non-volatile memory market in this region.

The companies profiled in the report are Samsung Electronics Co., Ltd. (South Korea) Toshiba Corporation (Japan), SK Hynix Semiconductor, Inc. (South Korea), Micron Technology, Inc. (U.S.), Intel Corporation (U.S.), SanDisk Corporation (U.S.), Adesto Technologies Corporation, Inc. (U.S.), Fujitsu Ltd. (Japan), Viking Technology (U.S.), Crossbar Inc. (U.S.), Everspin Technologies Inc. (U.S.), and Nantero, Inc. (U.S.).