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Non-volatile memory (NVM) is widely used in various consumer electronic devices such as laptops, PCs, tablets, and smartphones. Non-volatile memory retains its data even when power is turned off. The non-volatile memory can store more persistent data than volatile memory, such as random access memory. In addition, Non-volatile memory uses "user configurable technology", which minimizes the periodic requirement of refreshing the memory. This factor makes it ideal for long-term data storage and fast data transfer. Non-volatile memory is present in various devices, such as solid-state drives (SSDs), USB flash drives, memory cards, and non-volatile Dual In-line Memory Modules (NVDIMMs). NVM, technology has evolved significantly in recent years, leading to improved performance and lower costs—non-Volatile memory stores data in cells which is easily programmed and erased electrically. NVM has many advantages over volatile memory, which include faster read and write speeds, lower power consumption, and increased durability. As Digital technology advances, non-volatile memory is expected to become even more prevalent in a wide range of devices and applications. Furthermore, emerging technology such as advanced driver assistance systems (ADAS), driverless vehicles and clinical automation in the automotive and healthcare sector is expected to flourish the demand for Non-volatile memory in the global market.
The COVID-19 pandemic had a mixed impact on the Non-Volatile Memory (NVM) products market, including NAND flash memory, NOR flash memory, and emerging technologies such as MRAM, ReRAM, and PCM. Furthermore, the pandemic has led to an increase in demand for devices that rely on NVM, such as smartphones, laptops, and gaming consoles, owing to people have spent more time working, learning, and socializing from home. This increased demand has led to an increase in overall NVM market growth.
However, the pandemic has disrupted global supply chains and manufacturing operations, leading to row material shortages and a sudden rise in NVM product prices. In addition to that, the pandemic has impacted the production of NAND flash memory, which is used in a wide range of products, including solid-state drives (SSDs), USB drives, and memory cards. The supply chain disruptions in NAND memory production have contributed to a global shortage of SSDs and increased prices for these products. Moreover, the global market continues to adopt the new normal, which is increasing the demand for NVM products in the forecast period.
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Owing to the high demand for non-volatile memory, the I.T. and telecommunication sectors substantially contribute to the market share. Non-volatile memory is frequently used in high-end central processing units of quantum computers to maximize the speed of computation and operation. However, the use of non-volatile memory in consumer electronics is continuously increasing, which is expected to generate the highest CAGR during the forecast period. However, implementation of emerging technology such as the internet of things and industrial automation in the manufacturing and automotive industry, the demand for Non-Volatile memory is increasing in the near future.
ROHM Co. Ltd (Japan), STMicroelectronics NV (Switzerland), Maxim Integrated Products Inc (U.S.), Intel Corporation (U.S.), Fujitsu Ltd (Japan), Honeywell International Inc. (U.S.), Micron Technologies Inc (U.S.), Samsung Electronics Co. Ltd (South Korea), Crossbar Inc. (U.S.), Infineon Technologies AG (Germany), and Avalanche Technologies Inc. (U.S.).
By Traditional Memory Type
By Emerging Memory Type
By End User
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