The report "Non-Volatile Memory Market by Type (Flash (NAND, NOR), EEPROM, NVSRAM, Embedded, EPROM, 3D NAND, MRAM/STTMRAM, FRAM, RERAM/CBRAM, 3D XPOINT, NRAM), End-User Industry, and Geography - Global Forecast to 2025", is estimated to grow from USD 52.1 billion in 2017 to USD 98.6 billion by 2025; it is expected to grow at a CAGR of 8.3%. The growth of this market is mainly driven by the need for high-speed, low-power-consuming, and highly scalable memory devices as well as the growing demand for non-volatile memory in connected and wearable devices.
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Traditional non-volatile memory market held the largest size
The embedded non-volatile memory has gained significant attention in the connected devices and IoT market because of its higher efficiency under ultra-low power. Non-volatile memory is one of the major components of connected devices. Also, the high adoption of Flash memories in consumer electronics because of their low price and low power consumption is driving the market for 2D and 3D NAND. Therefore, traditional non-volatile memory held the largest market size in the non-volatile memory market owing to the inexpensive memory solutions as well as the increasing density and performance.
Market for retail industry is expected to grow at the highest rate during the forecast period
Retail industry today, is highly data rich and integrated with data analytics to understand and meet the customer expectation. To access the data generated at point of sales effectively many retail players started adopting emerging memory technology to implant data driven decisions non-volatile memory is an integral part of various analytic tools used in the retail industry for computing and analysis applications. Thus, the market for non-volatile memory is expected to grow at the highest rate in the retail industry.
APAC held the largest share of the non-volatile memory market
The huge consumer electronics customer base in APAC and the presence of major global foundries in this region led to the faster development of non-volatile memory technologies and enabled the easy accessibility of products to the market. Also, China has access to large funding sources and the favorable government initiatives further help drive the growth of the market. The Made in China 2025 initiative strategically focuses on the technology development of DRAM, eDRAM, Flash, and V-NAND Flash memory.
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Some of the leading players in this market include Samsung Electronics Co., Ltd. (South Korea), Toshiba Corp. (Japan), Micron Technology, Inc. (US), SK Hynix, Inc. (South Korea), and Western Digital Corp. (US).