Magneto Resistive RAM (MRAM) Market Analysis By Type (Toggle, Spin-Transfer Torque), By Application (Consumer Electronics, Robotics, Automotive, Enterprise Storage, Aerospace), By Region, And Segment Forecasts, 2018 - 2025

Report Overview

The global Magneto Resistive RAM (MRAM) market size was valued at USD 307.5 million in 2016 and is presumed to gain traction over the forecast period. The increasing demand for wearables and flexible electronic products is expected to drive the growth of this sector. These electronic products require flexible magnetic memories for processing and storing data.

Asia Pacific Magneto Resistive RAM (MRAM) Market, by type, 2014 - 2025 (USD Million)

MRAM exceeds the performance, when compared to traditional NAND, and is much faster, consumes lesser power, and is capable of retaining data, even in the absence of power. These memories provide immense scope for growth and have rapid reading and writing capabilities, as compared to DRAMs and SRAMs.

In the coming years, the global market is expected to experience an accelerating growth rate, as it holds the potential to replace flash memory and other electrically erasable programmable read-only memory (EEPROM).

The introduction of new products, for embedded and standalone memories, is expected to offer an opportunity for growth, owing to their use in a variety of applications in the enterprise, consumer electronics, robotics, aerospace & defense, and industrial sectors, among others. The Spin Tunnel Torque MRAM (STT) products are expected to contribute to a majority of the growth of the market.

Type Insights

The second-generation STT occupied a significant market share in the year 2015. This technology is predicted to remain the preferred choice, owing to its capability of supporting a variety of applications. Moreover, perpendicular Magnetic Tunnel Junction (TMJ) STT is expected to make major contributions to the industry. This technology is to be launched, in the year 2017, by Everspin Technologies, Inc. The market size for toggle-type technology is expected to reach USD 1,197.5 million by 2025.

The market for STT technology is estimated to dominate in 2017 and is expected to maintain its dominance, over the forecast period. The market is expected to grow from USD 198.9 million in 2016 to USD 3,606.4 million by 2025. The DRAM technology is expected to reach its limits soon and be replaced by STT technology, owing to the high endurance characteristics of the latter. Various market players are working toward this replacement; for instance, Micron is planning to introduce STT-MRAM, a DRAM-replacement product, by 2018.

Application Insights

The enterprise storage application is expected to gain traction soon. The market is projected to reach a value of USD 1,227.0 million by 2025. This application segment is estimated to grow as MRAM uses less power than flash. Lower power consumption enables operational efficiency for enterprise storage applications.

North America Magneto Resistive RAM (MRAM) market, by application, 2015 (%)

The Magnetoresistive random access memory technology for the aerospace & defense industry is estimated to grow at the highest CAGR of 37.6%, over the forecast period. This can be attributed to the high-temperature endurance of this technology, making it the most favorable option. Also, the technology, owing to its faster reading and writing capabilities, is best suited for consumer electronics applications, but the high costs affiliated with designing such devices limit its growth in consumer electronics applications.

Regional Insights

The North American region dominated the market with more than 36% revenue share in 2015. This dominance can be attributed to the presence of major players coupled with the increasing research & development activities in this region.

Moreover, the imperative need to serve the growing demand, for faster computation, better scalability, and lesser power consumption, is expected to promote the growth of Magnetoresistive random access memory devices.

The Asia Pacific region is expected to emerge as the fastest-growing region over the next nine years, owing to the improvements and advancements, in infrastructures of data centers, supported by the increasing adoption of cloud computing and usage of the internet. Furthermore, the market has high growth opportunities for sales of wearable electronics and mobile phones. The Asia-Pacific region has several memory manufacturers and foundry service providers, owing to its low-cost labor and raw material availability.

Key Companies & Market Share Insights

The prominent vendors dominating the market include Avalanche Technology, Inc., Everspin Technologies, Inc., Honeywell International, Inc., Intel Corporation, NVE Corporation, Qualcomm, Inc., Samsung Electronics Co. Ltd., Spin Transfer Technologies, Toshiba Corporation, and Crocus Nano Electronics LLC, among others.

These players are increasingly focusing on developing new products and innovations to become pioneers of technology and dominate the market. Furthermore, an increasing trend of partnerships and collaborations has been observed in this market. For instance, in September 2016, Avalanche Technology, Inc. agreed with Sony Semiconductors Manufacturing Corporation to initialize the production of Avalanche’s STT-MRAM on 300 mm wafers. This partnership aimed to help Avalanche in adopting perpendicular Magnetic Tunnel Junction (pMTJ)-based STT technology.

In the year 2014, Everspin Technologies, Inc., entered into a production agreement with Global Foundries for MRAM technologies. Under this partnership, the former is responsible for standalone chip applications, while the latter is responsible for the development of embedded MRAM applications, designed using the pMTJ STT technology.

Magneto Resistive RAM (MRAM) Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global MRAM market based on type, application, and region:

• Type Outlook (Revenue, USD Million; 2014 - 2025)

  • Toggle MRAM

  • Spin-Transfer Torque MRAM (STT-MRAM)

• Application Outlook (Revenue, USD Million; 2014 - 2025)

  • Consumer Electronics

  • Robotics

  • Automotive

  • Enterprise Storage

  • Aerospace & Defense

  • Others

• Regional Outlook (Revenue, USD Million; 2014 - 2025)

  • North America

  • Europe

    • Russia

  • Asia Pacific

  • RoW