Embedded Non-Volatile Memory Market is expected to reach US$ 2,406.26 Million by 2028

According to our latest market study on "Embedded Non-Volatile Memory Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Industry," the market was valued at US$ 82.94 million in 2021 and is projected to reach US$ 2,406.26 million by 2028; it is expected to grow at a CAGR of 61.8% from 2021 to 2028. Increasing Penetration of IoT-Based Devices and Services in Developing Countries to Provide Growth Opportunities for Embedded Non-Volatile Memory Market during 2021-2028.

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Key Companies:
eMemory Technology Inc.; GlobalFoundries; Hua Hong Semiconductor Limited; Taiwan Semiconductor Manufacturing Company, Limited; Everspin Technologies, Inc.; Microchip Technology Inc.; Samsung Foundry; Texas Instruments Incorporated; Tower Semiconductor; and United Microelectronics Corporation

The demand for pervasive connectivity necessitates the rapid adoption of low-cost, low-power technologies that can communicate securely. As a result, the expansion of IoT-based devices and services is expected to significantly boost the demand for embedded non-volatile memory over the projection period. Embedded non-volatile memory is a tiny chip that can be utilized in several embedded systems. It is generally used for data encryption, programming, trimming, identification, coding, and redundancy in smart cards, SIM cards, microcontrollers, PMICs, and display driver ICs. Manufacturers in embedded non-volatile memory market are concentrating their efforts on delivering secure eNVMs for MCUs used in IoT-based products.

In the embedded non-volatile memory market, new high-performance embedded non-volatile memory types, such as PRAM, RRAM, MRAM, and FRAM, have emerged as a result of the development of new materials, providing potential for the semiconductor market to grow. The capacity and speed of storing information for everyone's use has increased dramatically in recent embedded non-volatile memory technology, as a 1 sg cm memory chip can now hold 10Gbit information, equivalent to 80K pages of a newspaper, 20 hours of music, or 2.5 movie hours. DRAM nowadays has a random access time of 25-50ns and a 3-4GHz I/O bandwidth. Memory density and speed will continue to rise in the future as a result of technological advancements. Breakthroughs such as 3D memory stacking technology (cell/chip/package), the usage of 3-dimensional transistors, or the shrinking of memory storage nodes to the atomic size are predicted to result in higher storage density. The fusion of traditional commodity memories and new memories may improve memory system performance. Many memories such as Flash, SRAM, DRAM, and new memories will be combined with logic and software. As a result, semiconductor products will offer a wider range of high-performance systems with significantly improved durability and persistence in embedded non-volatile memory market. Memory technology will integrate with several other fields (IT, BT, and NT) in the twenty-first century, opening new markets such as enormous data & information processing, bio & health care, and humanoid & aircraft.

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Since the introduction of flash memory in the early 1980s, the semiconductor industry has seen a lot of developments. The expansion of the consumer electronics market drives the demand for Flash memory, making it a significant component of the semiconductor industry. Over the next few years, the memory market is likely to undergo significant changes, with more dense and dependable technologies challenging the dominant NAND Flash memory found in SSDs and embedded in mobile devices. New specifications are currently being developed by server, storage, and application vendors to improve the way their products interact with NVM.

The constant generation of new mobile devices fuels the expansion of embedded non-volatile memory products. In 2021, 30-nm node technologies are ramping up, 20-nm node technologies are transitioning to mass production, and a 10-nm node technology is developing to fulfill the demand. Furthermore, to serve a massive amount of data correspondence, the future market requires high-speed operation up to about 1,500 MB/s. These factors are fueling the production of consumer electronics, thereby boosting the demand for embedded non-volatile memory market

Market Insights
Wide Range of Application of NVMs to Drive Embedded Non-Volatile Memory Market Growth in Future

Embedded non-volatile memories provide a unique possibility for electronic systems and are used in various applications - from consumer to automotive to computer and communication. Since 1990, it has been seen that the digital cellular phone has grown at a quicker rate; the volume of production has expanded by 300 times, for example, from 5 million to 1.5 billion units per year. Flexibility and transparency are increasingly important in future electronic applications such as inexpensive and wearable electronics. Many advanced research technologies are applied to flexible technology to be employed in a real-world electronics application. Although silicon-based semiconductor memories have played an important role in consumer electronics memory storage and communication, the focus is now shifting away from rigid silicon-based memory technology and toward soft embedded non-volatile memory technology for low-cost, large-area, and low-power flexible electronic applications.

Furthermore, the embedded non-volatile memory market has been steadily rising over the long term, albeit with some ups and downs, and this trend is projected to continue in the coming years. As the semiconductor industry is driven by innovation, a new trend involving transparency, flexibility, and 3-D technologies will lead to further growth in the near future. Enterprise storage will be the most significant emerging NVM market, aided by the use of STT-MRAM and PCM cache memory. Embedded non-volatile memory market will significantly increase the business storage system's input/output performance, which will become more demanding as the need for web-based data provided by floating mass servers grows.

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