Next Generation Non Volatile Memory Industry Projected to Gain Momentum by 2024
by Susan Hill Business ConsultantThe global next generation non-volatile memory market is expected
to reach USD 7.46 billion by 2024, according to a new study by Grand View
Research, Inc. Increasing need for fast and economical storage solutions across
diverse applications is estimated to drive industry growth over the forecast
period.
Next Generation Non Volatile Memory is used for
various applications such as enterprise, industrial and automotive to store and
manage information, which is expected to augment market growth over the next
six years. Increasing use of Next Generation Non Volatile Memory in mobile
phones to enhance customer experience is expected to fuel market growth.
The increasing demand for wearable electronics and
replacement of flash memory storage may provide new growth avenues to the Next
Generation Non Volatile Memory industry. Low environment stability and high
design cost may act as a restraint to market growth over the forecast period.
All common computing platforms from handheld devices
to supercomputers use storage systems to store data permanently or temporarily.
Smart
cards store a few bytes of data and are expected to grow at a significant
rate over the forecast period. Economical and efficient solution development is
expected to be a critical success factor for industry players.
The Asia Pacific market is expected to grow at a
considerable rate owing to increasing demand for smartphones and tablets.
Additionally, presence of key market players in countries such as China, India,
Japan and South Korea is also expected to positively impact the regional market
over the forecast period.
Further
key findings from the study suggest:
- Efficient programming and eras ability options offered by MRAM
product segment is predicted to impel industry growth over the next eight
years
- Cache memory and enterprise storage was a major application segment
in 2015 and accounted over 57% of the overall industry in the same year
- North America was estimated to be the key regional market in 2015
- Key industry participants include Samsung Electronics Co. Ltd., IBM
Corp, Adesto Technologies, Crossbar Inc., Fujitsu Ltd, Toshiba
Corporation, and Intel Corporation
- Toshiba along with SK Hynix are working on production of Next
Generation Non Volatile Memory chips, which is expected to decrease power
consumption and increase data transfer speed
Access
full research report on global next generation non-volatile memory market:
www.grandviewresearch.com/industry-analysis/next-generation-non-volatile-memory-market
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Created on Mar 17th 2020 08:50. Viewed 276 times.