NEW
YORK, June 28, 2024 /PRNewswire/ -- The
global magneto resistive ram (MRAM) market size is estimated
to grow by USD 1.62 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of about 32.16% during the forecast period.
Low-power consumption is driving market growth, with a
trend towards integration of mram in the smartphone.
However, memory density issue poses a challenge. Key
market players include ARCO INC., Avalanche Technology Inc., Crocus
Nano Electronic LLC, Everspin Technologies Inc., Fujitsu Ltd.,
Honeywell International Inc., IMEC Inc., KLA Corp., MEMTECH, Numem
Inc., NVE Corp., NXP Semiconductors NV, Renesas Electronics Corp.,
Samsung Electronics Co. Ltd., SK hynix Co. Ltd., SPIN MEMORY INC.,
SRAM and MRAM Group, Taiwan Semiconductor Manufacturing Co. Ltd.,
Teledyne Technologies Inc., and Yole Developpement SA.
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Magneto Resistive
Ram (MRAM) Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
32.16%
|
Market growth
2024-2028
|
USD 1625.7
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
24.43
|
Regional
analysis
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 47%
|
Key
countries
|
US, China, Germany,
Canada, and Japan
|
Key companies
profiled
|
ARCO INC., Avalanche
Technology Inc., Crocus Nano Electronic LLC, Everspin Technologies
Inc., Fujitsu Ltd., Honeywell International Inc., IMEC Inc., KLA
Corp., MEMTECH, Numem Inc., NVE Corp., NXP Semiconductors NV,
Renesas Electronics Corp., Samsung Electronics Co. Ltd., SK hynix
Co. Ltd., SPIN MEMORY INC., SRAM and MRAM Group, Taiwan
Semiconductor Manufacturing Co. Ltd., Teledyne Technologies Inc.,
and Yole Developpement SA
|
Market Driver
MRAM technology, which retains data without power and offers
faster read-write speeds than Flash and EEPROM, is poised to enter
the smartphone market during the forecast period. Companies like
Apple are expected to adopt MRAM chips due to its data stability
and low power consumption. MRAM's significance lies in its
potential to support real-time vision processing and 3D mapping in
next-generation devices. With approximately 2 billion smartphone
users worldwide in 2023, the integration of MRAM in smartphones is
anticipated to drive the global MRAM market's growth. Key players
such as Avalanche Technology Inc., Everspin Technologies Inc.,
Renesas Electronics Corp., Honeywell International Inc., and
Teledyne Technologies Inc. Are conducting research on MRAM
technology, with Freescale Semiconductor (now NXP Semiconductors
NV) leading the way for consumer applications.
The Magneto Resistive Random Access Memory (MRAM) market is
experiencing significant growth due to its advanced features and
increasing demand. MRAM uses the principle of magneto-resistive
effect to store data, making it faster and more reliable than
traditional memory types. The market is driven by the need for
high-performance, low-power memory solutions in various industries,
including automotive, consumer electronics, and telecommunications.
Additionally, the integration of MRAM into artificial intelligence
and machine learning applications is fueling the market's growth.
The market is also witnessing technological advancements, such as
the development of multi-level cell MRAM and spin-torque MRAM,
which offer higher storage density and lower power consumption.
Overall, the MRAM market is expected to continue its upward trend
in the coming years.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- MRAM, or Magneto Resistive Random Access Memory, faces
challenges in the global market due to its lower memory density
compared to DRAM and Flash Memory. The technology uses magnetic
fields to store data, necessitating more space and increasing
manufacturing costs. Additionally, MRAM cells are larger than
competitors', limiting the number of cells that can be packed into
a given area. This memory density issue is particularly problematic
for high-density applications, such as servers and data centers,
hindering MRAM's growth during the forecast period.
- The Magneto Resistive Ram (MRRam) market faces several
challenges. Technological advancements in memory technology require
continuous innovation to stay competitive. The high cost of
production is a significant barrier, making MRRam more expensive
than traditional memory types. Additionally, the limited supply of
raw materials needed for MRRam manufacturing poses a challenge.
Furthermore, the market is still in its development stage, with
only a few players dominating the scene. Lastly, the testing and
validation process for MRRam is complex and time-consuming, adding
to the overall cost and delaying market penetration. Despite these
challenges, the potential benefits of MRRam, such as faster data
access and improved energy efficiency, make it an attractive option
for the future of memory technology.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This magneto resistive ram (mram) market report extensively
covers market segmentation by
- End-user
- 1.1 Automotive and aerospace and defense
- 1.2 Enterprise storage
- 1.3 Consumer electronics
- 1.4 Robotics
- Type
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Automotive and aerospace and defense- The
Magneto Resistive Ram (MRM) market is experiencing significant
growth due to its applications in various industries. In the
aerospace sector, MRM is utilized in avionics systems for flight
control, navigation, and communication, providing high reliability
and endurance. In the defense industry, MRM is employed in missile
guidance, radar, and communication systems, ensuring high
reliability, speed, and endurance. Simultaneously, in the
automotive industry, MRM is integrated into advanced driver
assistance systems (ADAS) and infotainment systems, enabling quick
and reliable data storage. The increasing demand for air travel and
defense equipment, coupled with the rise of electric vehicles,
further boosts the MRM market expansion.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Magneto Resistive Random Access Memory (MRAM) market
encompasses various applications in the consumer electronics,
robotics, enterprise storage, aerospace and defense, computing
technologies, Internet of Things, and automobiles industries. MRAM,
specifically Spin-transfer Torque MRAM and Magnetic Tunnel Junction
MRAM, offers advantages such as high-speed data access,
non-volatility, and enduring data retention. These features make
MRAM a viable alternative to traditional RAM, Flash, EEPROM, NAND,
and other storage technologies. MRAM is also gaining traction in
high-temperature data storage and low-power MRAM variants. The
market for MRAM is expanding in the commercial and industrial
sectors, including 5G technologies and workstations, as well as in
the aerospace and defense industries.
Market Research Overview
The Magneto Resistive Random Access Memory (MRRAM) market
represents a significant advancement in the realm of non-volatile
memory technologies. This memory type employs the magneto-resistive
effect, which allows for data storage using the resistance of
magnetic materials. MRAM offers several advantages over traditional
memory technologies, including faster read and write speeds, lower
power consumption, and higher endurance. The market for MRAM is
anticipated to grow substantially due to its potential applications
in various sectors, such as automotive, industrial, and consumer
electronics. The technology's ability to provide high-density,
high-performance, and reliable memory solutions makes it an
attractive alternative to existing memory technologies.
Additionally, ongoing research and development efforts aim to
further improve MRAM's performance and reduce its cost, potentially
leading to wider adoption across various industries.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Automotive And Aerospace And Defense
- Enterprise Storage
- Consumer Electronics
- Robotics
- Type
-
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio