Emerging Memory Market to Reach $44 Billion by 2031

Emerging memories have started a growth surge and should climb to become a $44 billion market by 2031.

That’s the finding of a newly-released report by Coughlin Associates and Objective Analysis: Emerging Memories Take Off ($7,500, 230 pages, 155 figures, 36 tables.)

“This is the semiconductor market to watch over the next decade,” said Tom Coughlin, president of Coughlin Associates. “Those who play a part in this market can plan for significant growth.”

Memory makers and foundries aren’t the only companies who need to consider their participation, if they don’t want to be left behind by this transition. Designers and users of SoCs are already incorporating these new nonvolatile memories into designs to achieve much more competitive power consumption and system responsiveness. Companies that embrace these technologies will enjoy a profound market advantage.

The emerging memory market will grow to this $44 billion level initially by displacing current technologies including NOR flash, SRAM, and DRAM. New memories will replace both standalone memory chips and embedded memories within microcontrollers, ASICs, and even compute processors, after which they will grow to create new markets of their own.

“Designers of all types of systems are finding that emerging memories provide new advantages that were previously unavailable,” said Jim Handy, general director, Objective Analysis. “The IoT will be revolutionized as new embedded memory types slash power consumption. Larger systems are already changing their architectures to adopt persistent memories to improve latency and data integrity.”

The report explains how 3D XPoint memory could reach revenues of over $20 billion by 2031, while standalone MRAM and STT-RAM revenues will grow to about $1.7 billion, or over 42x 2020’s standalone MRAM revenues. Meanwhile, embedded ReRAM and MRAM will compete to replace the bulk of embedded NOR and SRAM in SoCs, fueling even greater revenue growth.

“Many of these emerging memory types require new tooling to support different materials and processes, and this will provide a growth boost for the capital equipment market,” added Coughlin, pointing out that the industry’s migration to emerging memory technologies will launch a solid increase in capital equipment spending. “Total MRAM manufacturing equipment revenue will grow to over one-hundred times its $10 million 2020 total to reach $1.1 billion in 2031.”

This report examines not only PCM, ReRAM, FRAM and MRAM, but also a variety of less mainstream technologies, explaining each one’s competitive strengths and weaknesses. A list of company profiles details each participant, to explain how they are addressing this market shift. It includes chip makers, technology licensors, foundries, production tool makers, and research consortia, touching all aspects of the semiconductor business.

For more information and to order the report, visit either company’s URL: