Embedded Non-volatile Memory (eNVM) Market to Witness Comprehensive Growth by 2025
Embedded non-volatile memories (eNVMs) form a key part of modern embedded systems and offer greater flexibility in the design of electronics systems compared to stand-alone flash memories. They essentially provide in-system re-programmability and help expedite time-to-market. The soaring demand for increased memory density and better logic circuitry and the need for higher reliability of embedded systems are some of the key factors propelling the demand for eNVMs. In addition, the demand for low-power and low-voltage electronics applications has catalyzed the embedded non-volatile memory market. Some of the most common eNVMs are eOTP, eFuse, eMTP, eE2 PROM and eFlash. Key functionalities of embedded non-volatile memories in manufacturing electronic products include trimming, data encryption, coding, and programming. Leading players are developing different electronics using next-generation NVMS featuring the combination of programmability and memory density. While eFlash, eE2PROM, and eMTP offers the flexibility of multiple programmabilility, eFuse and eOTP can typically be programmed only once.
There is a growing demand for eFlash and eE2PROM technologies for a variety of high-density embedded applications, especially smart cards and SIM cards. The growing popularity of IoTs, wearable, and smart consumer products is anticipated to accentuate the embedded non-volatile memory market across developing and developed regions. The availability off-the-shelf file system software by several vendors help developers implement eNVMs. Prominent foundries such as Samsung, TSMC, GlobalFoundries, SMIC, and UMC are actively focused on developing eNVMs products for various embedded microcontrollers (MCUs). Some of the recent eNVM technologies being developed are MRAM and RRAM technology, which is expected to strengthen their presence in the embedded non-volatile memory market.
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Global Embedded Non-volatile Memory (eNVM) Market: Overview
Embedded non-volatile memory is characterized by a small-sized chip, which is widely used in diverse applications of embedded system. It is primarily used in SIM card, smart card, microcontrollers, display driver IC, and PMIC for several purposes such as data encryption, trimming, programming, identification, redundancy, and coding.
The research study on the global embedded non-volatile memory market provided a detailed analysis, emphasizing on several factors that are anticipated to influence the growth of the market in the near future. In addition, the key segmentation and the competitive landscape of the global market have been included in the scope of the study to provide a clear picture of the market.
Global Embedded Non-volatile Memory (eNVM) Market: Drivers and Restraints
The global embedded non-volatile memory market is growing at a progressive rate. The rising penetration of IoT-based services and devices, especially in emerging economies is estimated to encourage the growth of the global market in the next few years. In addition, the increasing need for ubiquitous connectivity demand for a rapid rate of deployment of power consuming and inexpensive products, which is likely to supplement the growth of the global embedded non-volatile memory market in the near future. The proliferation of IoT-based devices is predicted to boost the demand for innovative products in the forecast period.
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The global market for embedded non-volatile memory is projected to face several barriers in the coming few years, which is likely to hamper the growth of the market in the near future. Several promising opportunities and latest trends in the global market have been included in the scope of the study.
Global Embedded Non-volatile Memory (eNVM) Market: Region-wise Outlook
In the last few years, the Asia Pacific market for embedded non-volatile memory led the global market and is expected to remain in the dominating position throughout the forecast period. According to the study, this region is predicted to register a healthy growth rate and a key share of the global market in the forecast period. The rising demand from a large number of companies dealing in manufacturing of IoT-based devices is the key factor expected to encourage the growth of the Asia Pacific market in the next few years.
Furthermore, North America is anticipated to witness significant growth in the coming years, thanks to the presence of several prominent manufacturers in this region. In addition, the growing focus on innovations and new product development, along with a significant rise in the expenditure by prominent players are estimated to fuel the growth of the embedded non-volatile memory market in North America across the forecast period.
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Key Players Mentioned in the Research Report are:
Some of the key players operating in the embedded non-volatile memory market across the globe are GlobalFoundries, Semiconductor Manufacturing International Corporation (SMIC), United Microcontroller Corporation (UMC), HHGrace, eMemory Technology Inc., and Kilopass. In order to create a brand name and enhance the market presence, the key players are focusing on technological advancements and research and development activities. In addition, the growing number of mergers and acquisition is estimated to supplement the growth of the market in the near future.
Furthermore, the key manufacturers in the global market are also focusing on scaling down the semiconductors side, which will significantly help in reducing cost and increasing efficiency of products. The key policies and strategies that are being used by the leading players have been included in the study to offer a clear understanding of the overall market in the near future. In addition, detailed profiles of these players have been listed in the report.
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