The global non-volatile memory market size is expected to reach USD 198.79 billion by 2032, according to a new study by Polaris Market Research. The report “Non-Volatile Memory Market Share, Size, Trends, Industry Analysis Report, By Type (Flash, EPROM, nvSRAM, EEPROM, 3D NAND MRAM, FRAM, NRAM, ReRAM, and PMC); By Wafer Size; By End-Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing adoption of a variety of flash memories in consumer electronics owing to their low price, less power consumption, incredible speed, and capacity to easily store large files, movies, and pictures is a key factor expected to augment market growth over the projected period.
Moreover, the surge in the propensity towards AI, ML, and IoT devices, which requires low latency and comparatively high throughput cloud storage, flash storage, and also enterprise data centers is likely to positively impact the market growth over the coming years. To cater to the rising need and demand, various vendors operating in the market are focusing on the development of new solutions with new and innovative capabilities.
For instance, in August 2022, Samsung Electronics unveiled an array of its next-generation storage and memory technologies including Petabyte Storage, Memory-semantic SSD, and two different enterprise SSDs. With the launch of new product ranges, the company will strengthen its services in data movement, data storage, data management, and data processing.
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The non-volatile memory is mainly electrically programmable & erasable to store location within the installed storage device & also able to retain changes after a power outage. Besides this, non-volatile memory devices have found extensive applications in global positioning systems and electronic musical instruments with the help of newly developed advanced storage devices including 3D XPoint, MRAM, and NRAM, which is augmenting the growth of the market.
Non-Volatile Memory, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Non-Volatile Memory, Wafer Size Outlook (Revenue - USD Billion, 2019 - 2032)
Non-Volatile Memory, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)
Non-Volatile Memory, Regional Outlook (Revenue - USD Billion, 2019 - 2032)