Global Non-Volatile Memory Market Size Will Reach $198.79 Billion By 2032, at CAGR: 10.4%

Non-Volatile Memory Market Size Worth $198.79 Billion By 2032 | CAGR: 10.4%

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, 2024 - 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 Market Report Highlights

  • Flash memory segment accounted for a significant market revenue share in 2022, which is mainly accelerated growing integration of these memory devices across various industry verticals.
  • 300 mm wafer size segment is projected to grow at a high CAGR during the anticipated period on account of wide usage in integrated circuits due to its durability and high reliability.
  • Consumer electronics segment held the largest market share in 2022 owing to an increase in the number of introductions to smartphones, digital cameras, and gaming devices with high storage density through non-volatile memories.
  • Asia Pacific region is expected to witness the highest growth over the anticipated period due to the presence of a high consumer base and rapidly increasing development-related activities in various end-use industries.
  • The global key market players include Western Digital Technologies, Micron Technology, HYNIX Inc., Infineon Technologies, SkyHigh Memory Ltd., and Renesas Electronics Corporation.

Polaris Market Research has segmented the non-volatile memory market report based on type, wafer size, end-use, and region:

Non-Volatile Memory, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Flash
  • nvSRAM
  • 3D NAND
  • MRAM
  • FRAM
  • NRAM
  • ReRAM
  • PMC

Non-Volatile Memory, Wafer Size Outlook (Revenue - USD Billion, 2019 - 2032)

  • 200 mm
  • 300 mm

Non-Volatile Memory, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

  • Consumer Electronics
  • Enterprise Storage
  • Automotive & Transportation
  • Military & Aerospace
  • Industrial
  • Telecommunication
  • Energy & Power
  • Healthcare
  • Agriculture
  • Retail

Non-Volatile Memory, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa