Non-Volatile Memory Market Growth Analysis | 2023-2028

Market Insights

The non-volatile memory market was estimated at USD 71.32 billion in 2022 and is likely to grow at a healthy CAGR of 10.6% during 2023-2028 to reach USD 131.24 billion in 2028.

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Market Dynamics

Introduction

Non-volatile memory (NVM) is a type of computer storage that retains data even when power is disconnected. Unlike volatile memory such as RAM, which requires a continuous power supply to preserve data, NVM retains information even during power loss or system shutdown. This makes it ideal for long-term data storage and enables devices to resume operations seamlessly after a power outage. NVM technology includes various forms such as flash memory, magnetic storage, and emerging technologies like resistive random-access memory (RRAM) and phase-change memory (PCM). NVM has revolutionized the storage industry, providing high capacity, low power consumption, and fast access to data in various electronic devices.

Market Drivers

The non-volatile memory market is witnessing robust growth throughout the forecast period, driven by several pivotal factors:

• Rising demand for improved efficiency in electronic devices.
• Need for lower power consumption in various applications.
• The desire for faster memory access speeds.
• Expanding market for portable systems like smartphones and laptops.
• Increased interest from the semiconductor industry in developing advanced non-volatile memory solutions.

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Segments Analysis

By Type

“Flash memory dominates the market during the forecast period.”

The non-volatile memory market is segmented into traditional non-volatile memory and next-generation non-volatile memory. The traditional non-volatile memory is further divided into flash memory, EEPROM, SRAM, EPROM, and others. Flash memory is estimated to account for a significant share of the market owing to growing demand and penetration of consumer electronics during the forecast period.

This memory type is used for various applications in laptops, digital cameras, GPS, cell phones, electronic musical instruments, etc., and is also being adopted by data center solution vendors owing to the increasing adoption of cloud solutions, boosting the segment’s growth over the forecast period.

Regional Insights

“Asia-Pacific is estimated to account for the largest share of the market during the forecast period.”

China is the leading country owing to an increase in infrastructure development including data centers, and growing demand for telecommuting, voice and video call services, and online entertainment during the forecast period. The rapidly developing digital economy is generating an increase in demand for building large data centers in the country, leading to an increase in the usage of non-volatile memory in such data centers, fueling the growth of the market over the forecast period.

North America and Europe are also estimated to offer substantial growth opportunities during the forecast period.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.  

The following are the key players in the non-volatile memory market (arranged alphabetically).

• Avalanche Technologies Inc.
• Crossbar Inc.
• Fujitsu Ltd.
• Honeywell International Inc.
• Intel Corporation
• Maxim Integrated Products Inc.
• Micron Technologies Inc.
• ROHM Co. Ltd.
• Samsung Electronics Co. Ltd.
• STMicroelectronics NV.

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s non-volatile memory market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our non-volatile memory market report from the industry stakeholders, we have tried to further accentuate our research scope to the non-volatile memory market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The non-volatile memory market is segmented into the following categories:

By Type

• Traditional Non-Volatile Memory (Flash Memory, EEPROM, SRAM, EPROM, and Others)
• Next-generation Non-Volatile Memory

By End-Use Industry Type

• Consumer Electronics
• Retail
• IT and Telecom
• Healthcare
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players).
• SWOT analysis of key players (up to three players).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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