Non-Volatile Memory Market: Advanced technologies & growth opportunities in global Industry by 2025

Non-volatile memory or storage is a specific type of computer memory that can retrieve information even when the power is switched off. This is a secondary storage that has the capability to hold data even when the power is turned off. This kind of memory does not need to be periodically refreshed having the capability of long-term consistent storage. Certain examples of non-volatile memory includes computer storage devices such as hard disk drives, optical discs and flash memory among others. Non-volatile memory or NVM is often included in any normal design for aiding in fault identification along with rectification of fault signals through the history.

This kind of memory also allows the computer to keep track of the time and other system settings resulting in growing demand for this market globally. The global non-volatile memory market has been segmented on the basis of type, application and geography. The global market for non-volatile memory on the basis of type has been segmented into mechanically addressed systems and electrically addressed systems among others. Different application areas that has been considered under the scope of this report includes consumer electronics, automotive & transportation, industrial, energy & power, agricultural, military & aerospace and healthcare among others.

Global non-volatile memory market on the basis of geography has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

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It is the capability of this memory to retain information even when the power source is switched off that forms a major driver to push the growth of this market globally. Along with this, it is also the ease of storage that further drives the growth of this market. Non-volatile memory also allows computer hardware to be upgradeable allowing the developers scope of adjusting new technologies. This kind of memory allows the data to be stored permanently and is generally stored for read-only purpose that can’t be changed or removed. Considering all these drivers there are a few restraints that poses challenges for the market growth and negatively impacts it as well.

The high costs associated with application of non-volatile memory has negative effects on the market growth. In addition to this, it is also the relatively slow speed associated with non-volatile memory that also pose challenges in this market. With all these drivers and restraints taken into consideration there is also a huge scope of opportunities for this market in coming years. Non-volatile memory technologies such as phase-change RAM (PCRAM), resistive RAM (RRAM) and magnetic RAM (MRAM) enables memory chips that requires low-energy, have more density and latency being relatively closer to current DRAM chips that may provide various scope of opportunities in the coming years.

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Geographically, it is Asia Pacific that forms one of the major region contributing to the overall growth along with being one of the fastest growing regions globally. Japan, China, and South Korea among others are some of the key countries contributing to the overall growth of this market. Growing internet penetration along with rise in consumer electronics has been some of the major drivers that has pushed the demand for this market. North America followed by Europe has been some other major regions contributing to the overall growth of this market. Advancement along with growing demand for IoT or internet of things technology has been some major factors to positively drive the demand for this market in these regions.

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