Embedded Non-Volatile Memory Market Key Manufacturers Development Trends and Competitive Analysis 2028

The global "Embedded Non-Volatile Memory Market" is expected to grow from US$ 82.94 million in 2021 to US$ 2,406.26 million by 2028; it is estimated to grow at a CAGR of 61.8% from 2021 to 2028.

Embedded non-volatile memory is compact chip integrated in microcontrollers and hardware used for data storage. The stored data is used for programming, encryption, coding, identification, trimming, and redundancy purposes. The non-volatile memory systems comprise transistors that have the pieces of conductive material surrounded by a layer of insulator. When a microcontroller is powered, small amount of electricity is trapped by surrounding insulation, thus allowing non-volatile memory to retain its data. The growth of the embedded non-volatile memory market is attributed to the increasing rate of adoption of advanced consumer electronics among masses due to the rising GDP per capita, escalating adoption of advance electronics in automobiles, and surging penetration of connected devices.

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Companies Profiled in this report includes:

• 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
• United Microelectronics Corporation

Moreover, the growing deployment of smart city projects and the increasing adoption of IoT solutions are projected to boost the market growth during the forecast period. However, high design costs and scalability issues hamper the growth of the market.

Impact of COVID-19 Pandemic on Embedded Non-Volatile Memory Market
The COVID-19 outbreak adversely affected several Asia Pacific countries such as China, India, South Korea, and Japan. China and India are the most prominent manufacturing hub in the region and have an enhanced focus on industrialization. The growth of the manufacturing industry has been hampered due to lockdown. However, it is expected to recover in the second half of 2021 by enhancing the production capabilities. The imposition of a ban on commercial activities has disrupted the industrial supply chains in Asia Pacific, leading to raw material shortages. Further, the demand for advanced electronics such as a smartwatches, smart wearables, and healthcare machines has risen significantly. Also, the development of new airports is raising defense expenditure of countries such as China and India. This would propel the use of IC chips, which is likely to provide growth opportunities to the embedded non-volatile memory market during the forecast period. Moreover, companies in Asia Pacific have restructured their capabilities by adopting various strategies, such as product enhancements, partnerships, and acquisitions.

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Embedded Non-Volatile Memory Market Segmentation:

By Type:
• eFlash
• eOTP
• eE2PROM
• eMTP
• eMRAM
• Others

By Industry:
• Consumer Products
• Automotive
• IT and Communications
• Others

The overall embedded non-volatile memory market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the embedded non-volatile memory market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the embedded non-volatile memory market.

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