Magneto Resistive Ram (MRAM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Magneto resistive random access memory (MRAM) is a new form of random access memory (RAM) technology. A metal is considered as magneto resistive if it displays small alteration in electrical resistance, when placed in a magnetic field.

Magneto resistive random access memory (MRAM) is a high capacity next generation memory that has the capability to replace all existing form of RAMs such as Dynamic random access memory (DRAM) and Static random access memory (SRAM) among others. DRAM and SRAM are both volatile memories that store data in devices such as in graphics card and servers among others; whereas SRAM is used where speed is of primary concern, such as central processing unit (CPU) cache of computers.

Magneto Resistive Random access memory (MRAM) provides advantages over traditional RAMs as it uses magnetic charges to store each bit of data, instead of electrical power. MRAM uses the high density of DRAM, data reliability of flash or erasable programmable read-only memory (EPROM), and high speed configuration of SRAM to store more data with less battery power compared to an electronic memory. Magneto Resistive Random Access Memory (MRAM) enjoys an advantage over Flash Memory by measuring the write time in nanoseconds which is 1000 times faster than the write time of flash memory, measured in milliseconds.

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Magneto Resistive Random Access Memory (MRAM) can make technologies (such as computers, mobile devices, and others) more scalable, thus making it more adoptable for our coming generations. Hence, scaling mechanism generates demand of high capacity memories to assure storing facility of large databases and rapid assessing video by consuming less battery power. Magnetic resistance of MRAM offers advantage over electrical resistance in the field of information storage. Non-volatility characteristic of MRAM aids in retaining data and is not required to refresh repeatedly as in traditional memories.

Magneto Resistive Random Access Memory (MRAM) market is facing challenges in terms of volume, cost structures, and integrated CMOS (complementary metal oxide semi-conductor) process. The application of MRAM is limited only for specialized purposes. Thus, economies of scale is required to lower the manufacturing cost of MRAM. Magneto Resistive Random Access Memory (MRAM) does not enjoy strong support of key players unlike parameter random access memory (PRAM), thus, it fails to act as an alternative non-volatile memory.

Magneto Resistive Random Access Memory has several advantageous characteristics such as high reading and writing power, high endurance, less power consumption. Thereby, it witness a long term growth rate in the global market.

By types, Magneto Resistive Random Access Memory is segmented into Toggle Magneto Resistive Random Access Memory, Second-gen Magneto Resistive Random Access Memory called Spin Torque Transfer Magneto Resistive Random Access Memory (STT-MRAM). Toggle Magneto Resistive Random Access Memory uses magnetic field to change electronic spin. Whereas Second-Gen MRAM switches the electronic spin by using spin-polarized current. The latter is much faster, easier, and efficient to scale-down compare to former. STT-MRAM is an advanced type of Magneto Resistive Random Access Memory device which consumes lesser power, enables higher densities, and has lower manufacturing cost compared to toggle MRAM.

By application, Magneto Resistive Random Access Memory is used for various purposes extending from factory automation to military devices such as spacecraft, missiles, and nuclear weapons among others. MRAM is also used for sensors, smart cards, mobile computing, cell phones, portable playback and recording devices, notebooks, computing, and networking. For cell phones and notebooks, MRAM acts as an attractive non-volatile memory which can replace both DRAM, and flash. Thus, MRAM is used in ICT and aerospace department.

By geography, Magneto Resistive Random Access Memory market is segmented into North America, Europe, Asia Pacific, Latin America and Middle-East & Africa. North America dominates the magneto resistive ram market whereas Asia Pacific (such as China, Japan and South-Korea) witness strong growth due to rise in demand of MRAM.

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Major players of the market are international business machines corporation (IBM) (U.S), Infineon (Germany), Freescale (U.S.A), Toshiba (Japan) and Nippon electric company limited (NEC (Japan), NVE Corporation (U.S), Honeywell (US), Samsung (South korea), Hewlett Packard (HP) (U.S), Integrated Device Technology (IDT) Incorporated (U.S), Everspin Technology (U.S.A) and Others. NVE Corporation gains the patent rights over ten MRAM and also produced certain niche MRAM products.

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