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Magneto resistive RAM (MRAM) a memory technology stores information using electron spin. Various companies and researchers are investing in developing next-generation MRAM technology, this is likely to boost the market growth in near future. The magneto resistive RAM can operate under a high-temperature environment and it is a tamper resistant. Thus, it is highly suitable for industries such as manufacturing, aerospace, defense, automotive, military among others, this is likely to surge the demand.
MRAMs are the power efficient memory technology and has potential to replace SRAM (Static Random Access Memory), DRAM (Dynamic Random Access Memory), flash memory, among others. It is faster, less power consuming, and capable of retaining data. Its rapid writing and reading functionality than the traditional technologies is likely to drive the growth magneto resistive RAM market. The increasing demand for standalone and embedded memory across consumer electronic devices, wearable devices, smart devices among others is expected to drive the market. Similarly, the growing demand for the internet of things, artificial devices, virtual and augmented reality is likely to boost the MRAM demand.
Key Market Driver -
• Growing demand for wearable devices is expected to boost the magneto resistive RAM (MRAM) market growth • Low power consumption capability of magneto resistive RAM is expected to drive the market growth
Key Market Restraint -
• High designing cost of devices is likely to hinder the market growth
Some of the key players in the global magneto resistive RAM (MRAM) are Everspin Technologies, Inc., Inc., Intel Corporation, IBM Corporation, NVE Corporation, Qualcomm, Inc., Samsung Electronics Co. Ltd., Toshiba Corporation, Spin Transfer Technologies, and Crocus Nano Electronics LLC, Avalanche Technology, Inc., Honeywell International among others. These companies are focusing research and development for its vast applications. Also, to expand the business presence and market share the companies are entering into strategic partnership and collaboration. The key players are also aiming to provide innovative products and developing new embedded memory technology.
North America is expected to gain a dominant market share during the forecast period. The presence of dominant players in the region is boosting growth. Also, the significant interest and investment in research and development of in-memory technology are driving the MRAM demand in the region. Similarly, Europe is expected to gain significant growth owing to the presence of the dominant automotive industry. The temperature resistive and efficient memory technology is gaining traction in the automotive industry of the country. This is likely to drive the market growth.
Asia Pacific is likely to gain rapid growth during the forecast period owing to the increasing manufacturing and user demand for wearable devices. The leading consumer electronics, smart devices, and other industries are steadily adopting MRAM technology in the region to offer fast and high capacity memory. The region contains various memory manufacturing companies that are expected to drive the MRAM demand. Further, the growing internet penetration, cloud deployment, 5G infrastructure among others is expected to boost the magneto resistive RAM market growth. Similarly, considering the capabilities and applications of MRAM its demand across the Middle East & Africa and South America is expected to grow steadily.
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