Global Magneto Resistive RAM (MRAM) Market to Hit USD 1.85 Billion at a 18.58% CAGR from 2023 to 2032
Research Reports
Sep 20, 2023
The global Magneto Resistive RAM Market witnesses rapid revenue increase. The increasing availability of commercial MRAM solutions for large and diverse applications would drive market growth. Market Research Future (MRFR) confirms that the global magneto resistive RAM market is poised to escalate from USD 0.4 BN in 2022 to USD 1.85 BN by 2032, growing at an 18.58% CAGR throughout the assessment period (2023-2032).
Magneto resistive RAM (MRAM) products are poised to disrupt the traditional memory markets. MRAM delivers the industry’s most robust, high-performance, non-volatile memory for mission-critical applications, such as Industrial IoT and Data Centers. MRAM is particularly being utilized for its low power consumption in microcontrollers and systems on chips.
Additional factors, such as the growing need for cloud computing due to increased data centers worldwide, influence the MRAM market size. Also, the increased production of new mobile computing devices pushes the MRAM market value, increasing data center usage among various organizations. Furthermore, the growing demand for wearables and flexible electronic products creates vast opportunities in the MRAM market.
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Major Players
Players active in the MRAM market include
- NVE Corporation (US)
- Toshiba Corporation (Japan)
- Everspin Technologies Inc. (US)
- Spin Memory, Inc. (US)
- Avalanche Technology Inc. (US)
- Honeywell International Inc. (US)
- Numem Inc. (US)
- Samsung Electronics Co. Ltd (South Korea)
- Taiwan Semiconductor Manufacturing Company Limited (Taiwan)
Magneto Resistive RAM Market – Segments
The market report is segmented into products, applications, and regions. The product segment is sub-segmented into STT, Toggle, and others. The application segment is sub-segmented into aerospace & defense, automotive, robotics, consumer electronics, enterprise storage, and others. By region, the MRAM market is segmented into Asia-Pacific, the Americas, the Middle East & Africa, Europe, and the rest of the world.
Magneto Resistive RAM (MRAM) Market – Geographical Analysis
North America dominates the global magneto resistive RAM market. The presence of well-established technology development centers and several notable players rendering technical expertise drive the market growth. Besides, the growing adoption of consumer electronics and robotics, automotive, and the rising demand for MRAM in various end-use applications to achieve scalability and improve memory capacity substantiate the region’s market shares.
Global Magneto Resistive RAM Market – Competitive Landscape
The MRAM market appears highly competitive and fragmented due to several well-established players forming a competitive landscape. Players incorporate mergers & acquisitions, collaboration, innovation, and expansion to gain a substantially larger competitive share. They substantially invest in R&D to develop adept technologies and products and drive their global footprints.
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Industry/ Innovation/ Related News:
Oct. 19, 2022 — Everspin Technologies, Inc., a leading global developer and manufacturer of MRAM persistent memory solutions, announced signing a contract with QuickLogic Corporation (QUIK) to provide MRAM technology, design, and back-end-of-line manufacturing services for the new Strategic Radiation Hardened FPGA Technology.
The companies will develop and demonstrate Strategic Radiation Hardened (SRH) high-reliability Field Programmable Gate Array (FPGA) technology to support identified and future DoD strategic and space system requirements. The Department of Défense’s (DoD’s) Trusted and Assured Microelectronics (T&AM) Program sponsors the project.
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