The global non-volatile memory market is expected to grow owing to its increasing application such as healthcare and military etc. This memory is increasingly used in critical applications such as data centers as they can store without continuous power supply. Non-volatile memory is majorly used for long term secondary storage. Technological advancements to increase storage capacity are expected to positively impact market growth.
The rising application base is expected to drive the non-volatile memory market over the forecast period. The replacement of traditional storage with non-volatile memory is estimated to provide avenues for market growth. Additionally, benefits offered such as efficient power consumption, high endurance, and faster switching time is further expected to favor market growth over the forecast period. Expensive emerging technologies and low storage density & capacity may hinder market growth over the next six years. The availability of flexible electronics equipment can provide new growth opportunities to the market.
The market can be segmented on the basis of applications, memory type, and products. Various memory type widely used in the industry include resistive RAM (Reram), Spin-Transfer Torque RAM, Phase-Change Memory (PCM), Ferroelectric RAM (FRAM), NAND flash memory, Erasable Programmable Read-Only Memory (Eprom) and EEPROM. NAND flash memory has a high capacity and low cost. FRAM and STT-RAM are expected to be the key technologies over the forecast period. Non-volatile memory is used for various applications including industrial, transportation, energy & power, consumer electronics, healthcare, and military, etc. The product segment consist of smart cards, USB drives, and hard drives, etc.
Few players in the non-volatile memory market are Avalanche Technology, Cypress Semiconductor Corporation, Crossbar Inc., Fujitsu Limited, Micron Technology Inc., SK Hynix Inc, Toshiba Corporation, Everspin Technologies Inc., Infineon Technologies Ag, Samsung Electronics, Viking Technology, and Texas Instruments Incorporated. In November 2013, Fujitsu introduced its 4-Mbit FRAM a non-volatile memory substitute for SRAM in the medical, printer, and industrial designs which, is a battery-free solution and is expected to reduce the cost of ownership and development in systems.
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The exponential spread of COVID-19 worldwide has had an adverse impact on the semiconductor industry with manufacturing facilities temporarily shut, leading to a significant slowdown in the production. The outbreak could result in disruption across the ecosystem with several supply chain participants shifting their production facilities outside China, thereby reducing their over-reliance on China. Lockdowns imposed by the governments in the wake of the Covid-19 outbreak has not only affected manufacturing but also hauled consumer demand for semiconductor devices. Our analysts predict a decline in semiconductor revenue by over 1% in 2020 as compared to that in 2019. The report will account for Covid19 as a key market contributor.
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