The rise of IoT era has instigated demand for innovative products, which has placed pressure on foundries to deliver highly optimized components. eNVMs are the key components of microcontrollers used in IoT devices. The use of low power and low-cost eNVM plays a key role in decreasing the consumer electronics cost significantly.
The growing need for secured connected devices is expected to catapult eNVM sales Integration of touchscreen, accelerometers, proximity sensors, and camera module in consumer electronics such as tablets, smartphones, and smart wearable, is also anticipated to propel eNVM demand.
Global eNVM market share by product, 2014 (USD Million)
Developing economies in the Asia Pacific region such as India, Japan, and China have high demand for IoT-based products. This may be attributed to the increasing industrialization and delayed technology adoption. eNVMs in IoT-based products are used in consumer electronics, retail, manufacturing, transportation, and healthcare. Healthcare segment in IoT market is expected to witness healthy growth owing to increasing usage in managing day-to-day clinical operations and tracking hospitalized patients.
The number of applications for embedded non-volatile memory is rising with increased technology adoption across various industries. eNVMs provide several benefits including low power, in-system re-programmability, low voltage, noise reduction, reliability, reduced system cost, high-speed, and high-density system performance and are thereby preferred over standalone memory. They are increasingly used in smart cards, MCUs, SIM cards, code storage, manufacturing, and security purposes. eNVM is extensively used for code storage, which is expected to witness high growth over the forecast period.
Introduction of Internet of Things (IOT) has revolutionized the manufacturing process and consumer requirements. Growing need for lightweight and miniature devices at comparatively lower cost is expected to be the key reason for high growth. Majority of technology relies on in-built memory technology that minimizes power consumption, which plays a key role for the market development.
In-depth report on global embedded non-volatile memory (eNVM) market by Grand View Research:
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