Non-Volatile Memory Market Size, Share, Market Trends by 2027 | The increasing requirement for efficient data storage technology

The market for Non-Volatile Memory is expected to be worth USD 90 Billion, growing at a projected 11% CAGR between 2020 and 2027.

Due to rising demand for highly scalable memory devices as well as increasing demand for non-volatile memory in connected and wearable devices, the global Non-Volatile Memory Market is anticipated to expand quickly during the forecast period. The global market is expanding as a result of rising demand for non-volatile memory across numerous industry verticals, including BFSI, healthcare, manufacturing, retail, and IT & telecommunications.

Customers expect their devices to continually be more remarkable, offer new functionality at a breakneck pace, and store more movies, photos, and music in the thriving consumer electronics market. While streak recently enabled significant advancement, another age of memory is anticipated as glimmer encounters innovation barriers that prevent it from scaling significantly further.

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Key Players:

The following companies are some of the major players in the global non-volatile memory market:

• Samsung Electronics Co., Ltd. (South Korea)
• Toshiba Corporation (Japan)
• Micron Technology, Inc. (U.S.)
• SK Hynix, Inc. (South Korea)
• Western Digital Corporation (U.S.)
• Fujitsu Ltd. (U.S.)
• Intel Corporation (U.S.)
• IBM Corporation (U.S.)
• Nantero (U.S.)
• Crossbar Inc.

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Regional Analysis:

Geographically speaking, the non-volatile memory market is divided into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is predicted to have the largest market share of the non-volatile memory market globally and experience significant growth during the forecast period relative to other regions. This is due to the region’s increasing demand for memory devices that use little power and are highly scalable.

The favourable government initiatives in nations like China, which is regarded as the electronics manufacturing center, are among other factors contributing to the expansion of the Asia Pacific market. Due to its extensive financial resources, China is a major market driver for non-volatile memory. Another factor driving the growth of the non-volatile memory market is the presence of industry titans like Samsung and Hynix.

The worldwide non-volatile memory market is anticipated to experience considerable expansion in the North American market during the projected period. Due to the presence of numerous established key players in this region, including Micron Technology, Inc., Western Digital Corporation, Fujitsu Ltd., Intel Corporation, and IBM Corporation, the U.S. and Canada are expected to lead the growth of the non-volatile memory market in North America. The market is anticipated to experience tremendous growth in the coming years as a result of the region’s stable and established economies. Additionally, North America has a developed infrastructure that permits greater device penetration and ultimately improves connectivity.

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Market Segmentation:

The type, application, and vertical segments are used to divide the worldwide non-volatile memory market. There are two categories for the type size market: developing and traditional. The traditional category, however, consists of EPROM, SPROM, embedded non-volatile memory, non-volatile SRAM, and FLASH. Out of which, the traditional non-volatile memory market is anticipated to hold the largest market share for embedded non-volatile memory. This is because the market for connected devices is seeing an increase in demand for embedded non-volatile memory.

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