Global Emerging Non-Volatile Memory Market Size (2024 - 2029)

Emerging Non-Volatile Memory Market Analysis

The emerging non-volatile memory market is expected to register a CAGR of approximately 22.8% during the forecast period (2022 - 2027). The emerging non-volatile memory market is anticipated to witness significant growth owing to the acceptance of memory devices across a wide range of end-user industries, including consumer electronics, enterprise, industrial, and others.

• The rising demand for fast access and low power consuming memory devices, as well as increasing demand for non-volatile memory in connected and wearable devices, are some of the major factors propelling the market growth. However, high complexity in designing and manufacturing emerging non-volatile memory devices is anticipated to hamper the market growth during the forecast period.
• After several years of development, embedded emerging non-volatile memory technologies have gained substantial maturity. Several embedded MRAM-based devices entered volume production in 2021, among which are GreenWave's AI processors with GlobalFoundries' eMRAM (22nm FDSOI) and edge-AI accelerators designed and developed by Numen and Gyrfalcon (22nm ULL at TSMC).
• The increasing research activities in this space are driving the market's growth. For instance, in 2021, Samsung announced the improvement of the MTJ function of its MRAM along with advancing its 14 nm process to support its flash-type embedded MRAM designed to increase the write speed and density. In addition, the company targets the IC's emerging non-volatile memory application in wearables, microcontrollers, and IoT devices.
• COVID-19 pandemic and its global lockdowns combined impacted the memory market. Laptops and Datacentres demand grew, whereas smartphones and automotive faced a slowdown. The net result has been a comparatively balanced memory demand. As the emerging non-volatile memory business is expanding mostly on the datacentre market with storage class memory (SCM) applications facilitated by 3D XPoint, there has not been a negative impact on the overall emerging non-volatile memory market evolution. Though the pandemic created supply-chain disruptions in the first half of 2020, these were mostly cleared by the beginning of the second half of 2020.

Emerging Non-Volatile Memory Industry Segmentation

Non-volatile memory is a computer memory that can retain information stored on it even when turned off. Emerging non-volatile memory technologies promise advanced and novel memories for storing more data at less cost than the expensive-to-build silicon chips utilized by renowned consumer gadgets such as cell phones, digital cameras, portable music players, and others. Among several alternatives, spin-transfer torque random access memory, phase change memory, and resistive random-access memory (RRAM) are key emerging technologies.

Emerging non-volatile memories are best suited for neuromorphic computing applications because they are small cell-sized and can store several synaptic weights. The end-user industries considered part of the study include consumer electronics, industrial, enterprise, and other sectors in various geographies. Further, the market is segmented by type, including stand-alone and embedded. Also, the study includes the impact of COVID-19 on the market.