Second-gen Magneto Resistive RAM (STT MRAM) Market: Lucrative Opportunites across Globe

Global Second-gen Magneto Resistive RAM (STT MRAM) Market: Snapshot

The global magneto resistive RAM (MRAM) market is following an exponential growth track, thanks to the growing preference for fast, efficient, economical, highly scalable, and non-volatile memory devices in several end-use industries, including enterprise, consumer electronics, and defense and aerospace. In this market, second-gen MRAM also known as spin transfer torque MRAM (STT MRAM) holds a significant share – making inroads into the shares of conventional MRAMs. Therefore, with the robust growth of MRAM market, the global STT MRAM market is estimated to rake in a healthy share of the revenue pie.

These second generation MRAMs are acknowledged worldwide due to their superior endurance characteristics and capability of supporting an array of applications. For the manufacturing of these memories, specialized fabrication equipment is required. The increasing investments in the development of such equipment are, thus, working in favor of the market.

On the flip side, the high capital required for manufacturing these memories is dampening the rates of their improvements, which in turn is hampering the growth trajectory of the global STT MRAM market. Moreover, the complex structures of these memories are negatively impacting the growth of the market. In addition, the market is receiving high competitive pressures from the flash market, which is keeping the STT MRAM market from realizing its utmost potential. Nevertheless, industrial experts anticipate that the impact of these restraints will be subdued by rapid technological advancements and increased production.

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Second Generation Magneto Resistive RAM (MRAM) also known as Spin Transfer Torque (STT-MRAM) is an advanced category of MRAM devices that utilizes spin-polarized current in order to switch the electron’s spin. STT-MRAM devices are more efficient, easier to scale down and faster as compared to the conventional toggle MRAM devices. Moreover, STT-MRAM devices has higher density, consumes low power and costs less in comparison to the toggle MRAM devices. These attributes of STT-MRAM makes it the most suitable choice for various application segments. The global STT-MRAM market is anticipated to witness an exponential growth rate in the coming years owing to increasing demand for advanced memory solution. STT-MRAM is predicted to have the potential of becoming a leading storage solution as it offers a high-performance memory that has the capability of challenging DRAM and SRAM and can be easily scaled down to below 10nm.

For the purpose of providing an exhaustive and in-depth analysis of the market, the global STT-MRAM market has been segmented on the basis of application and geography. Information related to the demand of STT-MRAM across various application segments including consumer electronics, robotics, automotive, enterprise storage and aerospace and defense among others is provided in this report. The others segment included application of STT-MRAM across various medical equipment, sensing devices and smart meters. Moreover, data related to current market situation along with future expected growth trend of all the above mentioned application segment across various regions including Asia Pacific, Europe, North America, Middle-East and Africa (MEA) and Latin America is also highlighted in this report.

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Increasing demand for highly scalable, faster, low power consumable and non-volatile memories especially from automotive, aerospace and defense and enterprise storage sector is the primary factor predicted to trigger the demand of spin transfer torque MRAM during the forecast period from 2017 to 2025. Unlimited cycling endurance along with high speed write and read capabilities by consuming very less power is the most important factor anticipated to trigger the demand of STT-MRAM over others non-volatile memory solutions. In addition, STT-MRAM has excellent immune to radiation, and thus can be used extensively across various high temperature applications such as automotive, aerospace and defense sector. Owing to these attributes, STT-MRAM is anticipated to satisfy various memory applications including both high speed main memory and non-volatile memory in the coming years and can be used across various low power powered battery driven applications in which low energy consumption is utmost important.

Among the different application of STT-MRAM, Enterprise storage segment held the largest market share in 2016 and is anticipated to maintain its dominance in the coming years. Installation of STT-MRAM in various enterprise storage solution reduces the system down time, enhances data recovery during sudden power cut and thus, lowers the overall cost of operation. However, in the consumer electronics segment STT-MRAM is majorly used in embedded form.

Geographically, Asia Pacific region held the largest market share in 2016 and is anticipated to increase its market share in terms of revenue generation by 2025. Increasing demand for technologically advanced fast and non-volatile memory solution from various consumer electronics, automotive and enterprise storage sector is the primary factor anticipated to boost the demand of STT-MRAM in Asia Pacific region. On the other hand, North America held the second largest share of STT-MRAM market owing to the presence of large number of market players coupled with extensive research and development activities taking place in order to innovate technologically advanced memory solutions.

Some of the major players operating in the STT-MRAM market includes Everspin Technologies Inc. (The U.S), Spin Transfer Technologies (The U.S), Avalanche Technology (The U.S) and Honeywell International Inc. (The U.S) among others.

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