Future of Electrically Erasable Programmable Read Only Memory Market - Global Industry Insights, Trends, Outlook, 2016–2024

Electrically erasable programmable read only memory (EEPROM) is a non-volatile memory used in computers, smartphones, and electronic devices to store small volumes of data. Some of the major factor which drives the market of electrically erasable programmable read-only memory are increasing demand for high speed, highly scalable memory devices and low power consuming devices. Increasing internet or increasing installation of internet of things devices have propel the demand of high speed memory devices which fuel the demand of electrically erasable programmable read only memory in IOT devices. According to coherent market insights, in 2016 approx. 17.7 billion internet of things devices get installed globally up from 15.4 billion and is predicted to reach up to 30.7 billion by 2020. In addition to this, the increasing trend of wearable devices in various verticals such as healthcare, sports, and many more propel the demand of high scalable memory devices to maintain the strong network connectivity and store the generated data increased the demand for electrically erasable programmable read only memory in wearable devices. Now a days, the increasing trend of smart cloths has increased the demand of wearable devices. In 2016 approx. 35.3 million units of body wearable devices have sold up from 34 million units and is predicted to reach up to sales of 39.4 million units by the end of the year 2017.

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Electrically Erasable Programmable Read Only Memory Market Outlook – Asia Pacific holds the largest market
On the basis of geography, global electrically erasable programmable read only memory market is classified into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia pacific holds the dominant position in the global electrically erasable programmable read only memory market and is projected to retain its dominance throughout the forecast period. The increasing consumer electronics and automotive industry, in turn fuels demand for resistive random access memory in Asia Pacific countries. China and India are the major growth engines of the Asia Pacific market. In India, the electronics market generated US$ 36.2 billion in 2016, up from US$ 31.6 billion in 2015, and is projected to reach US$ 104 billion by 2020.

Moreover, North America electrically erasable programmable read only memory market also plays a major role for the growth of market. The rising demand for high speed electronic devices and increasing proliferation of connected devices have increased the demand of electrically erasable programmable read only memory. Furthermore, rapidly increasing number of smartphone users in the U.S. in turn creates a highly conducive environment for market growth. According to Coherent Market Insight, in 2016 around 208.6 million smartphone users were present in the U.S., up from 190.6 million users in 2015 and is projected to reach 257.7 million smartphone users by 2020.

Key companies of global electrically erasable programmable read-only memory market
Atmel Corporation, Hitachi, Ltd., Infineon Technologies AG, Intersil, Linear Technology Corporation, Macronix International, Maxwell Technologies, Microchip Technology, Mitsubishi Electric Corporation, NXP Semiconductors N.V., ON Semiconductor, Renesas Electronics Corporation, ROHM Semiconductor, Samsung Electronics, Seiko Instruments Inc., STMicroelectronics, Winbond Electronics Corporation are some of the key companies of the global Electrically erasable programmable read-only memory market.

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