Magneto Resistive RAM Market Size, Share, Opportunities, Growth Analysis, Trends, Business Revenue, Key Players and Impact of COVID
Research Reports
Apr 04, 2022
Magneto Resistive RAM (MRAM) Market – Overview
The global Magneto Resistive RAM Market witnesses rapid revenue increase. Magneto resistive RAM (MRAM) products are poised to disrupt the traditional memory markets. MRAM delivers the industry’s most robust, highest 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 micro-controllers and systems on chips.
With the increasing availability of commercial MRAM solutions for large and diverse applications, the market is projected to garner significant traction in the years to come. According to Market Research Future (MRFR), the global magneto resistive RAM market is expected to reach USD 1396.7 MN by 2027, growing at approx. 18.58?GR throughout the assessment period (2020- 2027).
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Additional factors such as the growing need for cloud computing due to increased data centers worldwide act as a major tailwind for the market growth. Also, the increase in the production of new mobile computing devices pushes the market value, increasing data center usages among various organizations. Furthermore, the growing demand for wearables and flexible electronic products create vast market demand.
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. The region segment is sub-segmented into Asia Pacific, Americas, 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 the memory capacity substantiate the region’s market shares.
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Global Magneto Resistive RAM Market – Competitive Landscape
The MRAM market appears highly competitive and fragmented, with several well-established players forming a competitive landscape. To gain a substantially larger competitive share, players incorporate approaches, such as mergers & acquisitions, collaboration, innovation, and expansion. They substantially invest in R&D to develop adept technologies and products and drive their global footprints.
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), and Taiwan Semiconductor Manufacturing Company Limited (Taiwan), among others.
Industry/ Innovation/ Related News:
Sep.27, 2021 —- Avalanche Technology, a leading provider of next-generation MRAM technology, introduced new 64Mb STT-MRAM memory devices for industrial applications. The new 64Mb parallel x16 industrial P-SRAM products are the smallest form factor and lowest power high-reliability non-volatile memory devices available in the market.
With this new product release, Avalanche brought high-reliability industrial products with the smallest form factor and lowest power, enabling customers to design unified memory architecture systems for industrial data logging applications.
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