Non Volatile Memory Market Size, Share, Opportunities, And Trends By Type (SORM, EPROM, Flash, NAND, NOR, FRAM, Non-Volatile SRAM, Others), By End User (Automotive, Consumer Electronics, Telecommunication, Military & Aerospace, Healthcare), And Geography - Forecasts From 2019 To 2024

The non-volatile memory market is projected to grow at a CAGR of 0.81% to reach US$64.887 billion by 2024, from US$61.830 billion in 2018. The growing number of connected devices is leading to increasing demand for storage solutions which is significantly boosting the demand for non-volatile memories. The growing investments in data centers are providing an opportunity for the non-volatile memory product providers to generate higher revenues. While increasing storage densities in smartphones and laptops are further supplementing the growth of the non-volatile memory market.

The non-volatile memory market has been segmented on the basis of type, end user, and geography. By type, Flash is anticipated to grow significantly on account of the increasing demand for data storage along with the larger data storage, faster processing, and cheaper cost features of flash memory. By end-user, consumer electronics is projected to grow substantially on account of the increasing disposable income and rising technological development in the smartphone market.

Geographically, the Asia Pacific is anticipated to grow at a notable rate owing to the increasing investments in data centers. The increasing production of smartphones and automobiles in countries such as China and India is projected to boost the non-volatile memory market over the forecast period.

DRIVERS
• Growing demand for high-speed memory devices.
• Budding consumer electronics industry.

RESTRAINTS
• Cyclical nature of the semiconductor industry.

INDUSTRY UPDATES
• In November 2018, SK Hynix Inc. launched the world’s first 96-Layer 512Gb CTF based 4D NAND Flash-based on its TLC (Triple-Level Cell) arrays, using 3D CTF.
• In May 2018, the Toshiba memory corporation announced the expansion of 3D flash memory production capacity by building a new facility in KitaKami.
• In May 2017, Intel launched two new Intel 3D NAND solid-state drives for data centers, the Intel SSD DC P4500 Series and Intel SSD DC P4600 Series, along with reinforcing its commitment to expanding 3D NAND supply.

The major players profiled in the non-volatile memory market include Samsung Electronics Co. Ltd, SK Hynix, Inc., Intel Corporation, Toshiba Memory Corporation, Micron Technology, Inc., Western Digital Corporation, Microchip Technology Inc., Adesto Technologies Corporation, Fujitsu Limited, Viking Technology, and ATP Electronics Inc.

Segmentation

The non-volatile memory market has been analyzed through the following segments:

• By Type
o SORM
o EPROM
o Flash
? NAND
? NOR
o FRAM
o Non-Volatile SRAM
o Others

• By End User
o Automotive
o Consumer Electronics
o Telecommunication
o Military & Aerospace
o Healthcare

• By Geography
o North America
? USA
? Canada
? Mexico

o South America
? Brazil
? Argentina
? Others

o Europe
? Germany
? France
? United Kingdom
? Spain
? Others

o Middle East and Africa
? Saudi Arabia
? Israel
? Others

o Asia Pacific
? China
? Japan
? South Korea
? India
? Others

Frequently Asked Questions (FAQs)

Q1. What will be the non-volatile memory market size by 2024?
A1. The non-volatile memory market is projected to reach a total market size of US$64.887 billion by 2024.

Q2. What is the size of global non-volatile memory market?
A2. Non Volatile Memory market was valued at US$61.830 billion in 2018.

Q3. What are the growth prospects for the non-volatile memory market?
A3. The global non-volatile memory market is projected to grow at a CAGR of 0.81% during the forecast period.

Q4. Which region holds the largest market share in the global disinfectants market?
A4. Geographically, the Asia Pacific is anticipated to hold a notable share in the global disinfectants market owing to the increasing investments in data centers.

Q5. What factors are anticipated to drive the In non-volatile memory market growth?
A5. The growing number of connected devices is leading to increasing demand for storage solutions which is significantly boosting the demand for non-volatile memories.