NOR Flash Memory Market Size 2022, Top Companies Overview, Share, Growth | Global Forecast Report 2028

According to Precision Business Insights (PBI), the latest report, NOR flash memory market size is expected to be valued at USD 2,347.8 million in 2022, which is expected to grow at a CAGR of 15.4% over 2022-2028. The primary factors that drive the market are increasing demand for consumer electronics and communication devices and growing applications of electronics in the industrial and automotive sectors.

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Industrial Segment to Dominate the NOR Flash Memory Market:
Based on industry vertical type, the market is segmented as Telecommunication, Consume, Electronics, Automotive & Transportation, Manufacturing, Energy & Power, and Others. The major factor for the rise of this segment is the rise in demand for NOR flash memory from many manufacturing applications demanding more code and data storage. The device developers hunt for high-density embedded memory solutions that can deliver storage at the lowest accessible cost per gigabit which can drive the global NOR flash memory market growth.

Asia Pacific NOR Flash Memory Market:
Asia Pacific region is expected to grow significantly in the global NOR flash memory market size over the forecast period. The Asia Pacific region is expanding due to a rapid increase in population that generated potential consumers for the electronic market and the rise in demand for consumer electronics products for non-volatile memory. Apart from this, the presence of firm hard disk drives and other industries of consumer electronics are some of the reasons for the potential growth of the market in these regions.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global NOR flash memory market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In March 2022, a line of RadHard NOR Flash Memory devices required by microprocessors and FPGAs utilized in space applications was announced to be launched by CAES. In April 2022, a 64-Mbit serial quad I/O NOR flash memory device for aerospace and defense systems was announced by Microchip.

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The NOR flash memory market is segmented based on, product type, industry vertical, and region.
Based on the product type, the market is segmented into the following:
• Serial NOR Flash
• Parallel NOR Flash

Based on the industry vertical, the market is segmented into the following:
• Telecommunication
• Consumer Electronics
• Automotive & Transportation
• Manufacturing
• Energy & Power
• Others

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players' profiles in the NOR flash memory market report are Arkema S.A., Cypress Semiconductor Corporation, Micron Technology, Inc., GigaDevice Semiconductor (Beijing) Inc., Macronix International Co., Ltd., Winbond, Toshiba Corp., Intel Corporation, SAMSUNG, and Seagate Technology LLC

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