PORTLAND, OR --- A new report published by Allied Market Research titled, "Non-Volatile Memory (NVM) Market by Type, Application, and Verticals-Global Opportunity Analysis Industry Forecast, 2014-2022", projects that the world NVM market would reach $82 billion by 2022 at a CAGR of 10% from 2016 to 2022. Asia-Pacific leads the world market and accounts for more than 40% share of the overall NVM market revenue followed by North America. The Asia-Pacific market growth is mainly driven by factors such as increasing number of datacenters and increasing use of NVM in consumer electronics manufacturing activity.
Electrically addressed is the foremost memory type and widely used in consumer electronics. Presently, rise in demand for greater efficiency, faster memory access and low-power consumption are some of the major factors that are driving the market growth. Moreover, aggrandized use of NVM in flexible electronics is expected to provide huge opportunities to the market growth. Among various electrically addressed memory types, NVRAM is leading the segment and would continue this trend throughout the forecast period. However, emerging memory such as 3D XPoint, MRAM, and SONOS are expected to grow in the future owing to the faster data transfer and light weight design.
Among several application, enterprise storage is the predominant application segment that account for 27% share of the overall NVM market in 2014. Increasing number of datacenter is the key driving factors for this segment as it does the significant contribution in overall segment revenue. However, consumer electronic application is anticipated to be most lucrative application and expected to exhibit to register the highest CAGR of 11.1% during the forecast period. The growth is mainly driven by increasing use of NVM in consumer electronics, mainly in smartphone and wearable devices to enable more storage and faster memory access. Moreover, Asia-Pacific is the major contributor in consumer electronics sector with a significant revenue contribution in 2014.
Telecom & IT industry vertical is projected to maintain its lead in the overall NVM market as huge amount of customers data is generated in telecom on a regular basis that further necessitates the efficient datacenter or storage requirement. The major demand for storage is driving from the developing economies such as Asia-pacific that has further boosted the market growth. Furthermore, automotive is anticipated to exhibit the highest growth, with a CAGR of 11.0% during the forecast period. This is owed to the advancements in technology and increased production.
Asia-Pacific accounted for the majority of revenue in 2014 and is expected to maintain its dominance throughout the forecast period. This is attributed to the rising number of datacenter and increasing enterprise storage requirement that in turn increases the demand for memory. Moreover, advancement in consumer electronic and introduction of flexible electronics would further boosts the NVM market worldwide primarily in Asian countries, such as Japan, Singapore, and India.
Asia-Pacific is projected to be the fastest growing region throughout the analysis period. Furthermore, increase in IT expenditures in several countries including Japan, India, and South Korea to satisfy the end-user storage needs have bolstered the market growth. Moreover, technological advancements to overcome low write endurance rate issue in NVM would offer lucrative opportunities for the market.
Key findings of the study:
•In 2014, electrically addressed type led the overall NVM market revenue, and is projected to grow at a CAGR of 10.1% during the forecast period.
•Automotive industry vertical segment is projected to grow at a CAGR of 11% during the analysis period.
•Consumer electronics segment is expected to exhibit fastest growth during the forecast period, owing to increasing application of NVM in smartphone and wearable device.
•Japan is the major shareholder accounting for about 34% share of the Asia-Pacific NVM market.
The key players in the NVM market are focused to expand their business operations in the fast-growing emerging countries with new product launches as a preferred strategy. The major players profiled in this report include Adesto Technologies Corporation, Viking Technology, Crossbar Inc., Kilopass Technology Inc., Samsung Electronics Co., Ltd., Intel Corporation, Sidense Corporation, Sandisk Corporation, Fujitsu Ltd, and Micron Technology, Inc.
Summary of the Non-Volatile Memory (NVM) Market Report can be accessed on the website at https://www.alliedmarketresearch.com/non-volatile-memory-market