NEW YORK, April 26, 2019 (GLOBE NEWSWIRE) -- The global magneto-resistive random access memory (MRAM) market is expected to witness a CAGR of 49.6% to reach USD 1,228.1 million by 2025. The market growth is primarily attributed to the rising demand for power-efficient, cost effective and non-volatile memory in many end-user industries, surging demand for flexible and wearable electronics, and increasing research & development activities. In addition, advancement in technology is further projected to augment the market growth during the forecast period.
Magneto-resistive random access memory is a device which is used to store data bits by using magnetic charges in place of an electrical charge. MRAM has advantages of both dynamic random access memory (DRAM) and static random access memory (SRAM). Furthermore, MRAM finds its application across various robotics, consumer electronics, automotive, aerospace and defense enterprise storage, and others. Besides, unlimited cycling endurance along with high speed write and read capabilities coupled with low power consumption is the principal factor expected to drive the demand of MRAM over other non-volatile memory solutions.
Key findings of the report:
- The global magneto-resistive random access memory is anticipated to reach USD 1,228.1 million by 2025, at a CAGR of 49.6%.
- Based on product type, second generation MRAM or STT magneto-resistive random access memory held the major market share in 2018, and is estimated to register the highest CAGR during the forecast period. STT MRAM devices are more efficient in terms of their power consumption, price, and processing speed. Thus, boosting the segment growth over the forecast period.
- On the basis of application, the enterprise segment is likely to dominate the market during 2019-2025, as installation of MRAM helps to enhance the networking and data center fault recovery system.
- Key players operating in the global magneto-resistive random access memory (MRAM) market include; Everspin Technologies Inc., Avalanche Technology, Intel Corp., NEC, CROCUS NANO ELECTRONICS LLC, Toshiba, Infineon Technologies, NVE Corporation, and Spin Memory Inc. among others.
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Global Magneto-Resistive Random Access Memory (MRAM) Market - Regional Insight
Geographically, the global MRAM market is segmented into North America, Asia-Pacific, Europe, Middle East Africa, and Central & South America. The North America dominated the global MRAM market in 2018, and is expected to retain its dominance over the forecast period. Increasing demand for technologically advanced memory solutions across various end-use industries, presence of major players coupled with growing research and development activities are the prime factors that are anticipated to fuel the market growth in the region during 2019-2025. However, Asia-Pacific is estimated to register the highest CAGR over the forecast period.
The report segments the global magneto-resistive random access memory market on the basis of product type, application, and region.
- By Product Type
○ Toggle MRAM
○ Spin transfer torque (STT) MRAM - By Application
○ Consumer Electronics
○ Aerospace and Defense
○ Automotive
○ Enterprise
○ Robotics
○ Others - By Region:
○ North America
• U.S.
• Canada
• Mexico
○ Europe
• UK
• Germany
• France
• Italy
• Rest of Europe
○ Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
○ Central and South America (CSA)
• Brazil
• Rest of CSA
○ Middle East and Africa
• South Africa
• Rest of MEA
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