The use of memory devices for the storage of data and information is not a new trend, and several industries already use cutting-edge technologies for memory storage. However, the development of next-generation non-volatile memory aids has emerged as a revolutionary practice across the globe. The relevance of next-generation non-volatile memory across multiple domains and sectors has led to the prosperity of the market vendors. Henceforth, it is legit to expect that the global next-generation non-volatile memory market would gather tremendously huge revenues in the years to follow. There have been several advancements in the electronics and semiconductors industry which has also aided market growth.
One of the recurring trends within the global next-generation non-volatile memory market is the emergence of improved technologies on a regular basis. The popularity of hard disk drives was replaced by floppy disks that were in turn replaced by magnetic tapes. Hence, the wide product portfolio of the global next-generation non-volatile memory market is also a key driver of market demand. Solid state drives are also becoming popular across the corporate sector, and this factor shall largely aid market growth.
On the basis of geography, the global next-generation non-volatile memory market can be segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and North America. The global next-generation non-volatile memory market in Asia Pacific is expanding as the need for better data storage devices becomes indispensable.
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The next generation non volatile memory market is growing rapidly in recent times due to the growing demand for faster, efficient and cost effective memory solutions. The tremendous amount of data is generated on the daily basis in the world thus raising the need for more effective storage solutions with large storage capacity is fueling the next generation non volatile memory market. Also, the increasing demand for wearable electronics and replacement of flash memory storage is providing the new growth path to the Next Generation Non Volatile Memory industry. The next generation non volatile market is expected to gain momentum due to increased demand for high scalable, fast and economical memory solutions and the increasing need for fast and economical storage solutions across various application. The next generation non volatile memory market continue to receive major attention due to its scalability, rapid read and write performance and simple structure.
All common computing platforms from hand devices to supercomputers use storage systems to store data permanently or temporarily and to retrieve data whenever it needed. Next Generation Non Volatile Memory can store information when the power is off and it can store more data, and is smaller and faster with less power usage and high reliability. The next generation non volatile memory is used for application such as enterprise, industrial and automotive to store and manage information. Also, the rising market for smartphones and tablets is boosting next generation non volatile memory market and it is expected to increase further, due to the increasing smartphones and tablets market.
Next Generation Non Volatile Memory Market: Drivers and Challenges
The growing demand for mass storage and storage devices is the major driver of the Next Generation Non Volatile Memory market. Also, due to decreasing profit margins in traditional memory technologies is one of the key factor for the growth of next generation non volatile memory market to provide faster and efficient storage methods. Other driving factor is that the emerging next generation memory technologies such as MRAM, memristor, and FeRAM and others, are all expected to replace the traditional non-volatile memory technologies because of incompatibility and poor performance of the existing non-volatile memories. The increasing demand in various industrial application will provide more growth opportunities in next generation non volatile memory market.
The high designing cost is expected to be the restraint in the growth of Non Volatile memory market. Also the low environment stability and rapidly changing technology are some of the factors that are restraining the growth of next generation non volatile memory market. Moreover, the chances rivalry in next generation non volatile memory market is high due to the presence of abundant suppliers in market, which are providing services to customers with low product differentiation.
Next Generation Non Volatile Memory Market: Segmentation
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Segmentation of Next Generation Non Volatile Memory Market on the basis of type:
The next generation non volatile memory market is segmented into non volatile memory and volatile memory. The non volatile memory is more favored because of the advantages like rewritable and ability to store data even after the power is turned off.
- Non volatile memory
- Volatile memory
Segmentation of Next Generation Non Volatile Memory Market on the basis of application:
The next generation non volatile memory facilitate faster, efficient and cost effective storage solutions for various application sectors such as consumer electronics, aerospace and defense, smart card and others.
- Consumer Electronics
- Healthcare Monitoring applications
- Automotive and Transportation Application
- Enterprise Storage
Next Generation Non Volatile Memory Market: Competitive Landscape
The key development in the next generation non volatile memory market are
In July 2017, Adesto Technologies Corporation, one of the leading provider of application specific non-volatile memory products acquired Zacks Investment Research.
In July 2015, Intel corporation and Micron technology, Inc. announced a new next generation non volatile memory technology i.e. 3D XPoint which can be used for the fast access of the data.
Prominent players in the global next generation non-volatile memory market are Samsung Electronics Co. Ltd, Adesto Technologies, Everspin Technologies, Intel Corporation, Crossbar Inc., Fujitsu Ltd, IBM Corp, Micron Technology, and Toshiba Corporation and others.
Next Generation Non Volatile Memory Market: Regional Overview
Geographically, APAC is expected to be the largest market of Non Volatile Memory due to the presence of key market players operating in developing economies such as South Korea, Japan, China, and India and due to the increasing demand for smartphone and tablet. The North America market is expected to be the second largest market due to rising demand of next generation non volatile memory and the presence of some key players in this region.
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