Embedded Non-volatile Memory Market Size, Share & Trends Analysis Report By Product (eFlash, eE2PROM, FRAM), By Wafer Size (>100mm, <100mm), By Application, By Region, And Segment Forecasts, 2024 - 2030

Embedded Non-volatile Memory Market Size, Share & Trends Analysis Report By Product (eFlash, eE2PROM, FRAM), By Wafer Size (>100mm, <100mm), By Application, By Region, And Segment Forecasts, 2024 - 2030

Embedded Non-volatile Memory Market Growth & Trends

The global embedded non-volatile memory market size is anticipated to reach USD 8.13 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 11.5% from 2024 to 2030. The emergence of memory technology such as RRAM and revamp in the FRAM architecture are expected to drive market growth over the forecast period. Surge in demand for Internet of Thing (IoT) applications in order to build smart devices is also expected to catapult the industry demand over the next seven years.

Demand for automation across several end-use industries including industrial, automotive, and consumer electronics might provide avenues for industry growth. Rapid industrialization in developing regions is also expected to drive product demand over the forecast period.

The development of devices integrating wireless communication technologies such as Near Field Communication (NFC), Bluetooth, and ZigBee requires miniature components owing to consumer demand for compact devices. Migration from conventional to embedded-NVM owing to low-power consumption and high efficiency offered by these memory devices is expected to impel industry demand over the forecast period. This is also anticipated to be a key growth opportunity for industry participants.

Embedded Non-volatile Memory Market Report Highlights

• Asia Pacific held the largest market revenue share in 2023. India embedded non-volatile memory market is expected to grow significantly over the forecast period.
• North America embedded non-volatile memory market is anticipated to witness fastest growth during the forecast period. The U.S. embedded non-volatile memory market dominated the market with a share of 84.7% in 2023.
• The BFSI segment held the largest market revenue share in 2023. BFSI applications require robust security measures to safeguard sensitive financial data, including transaction records, customer information, and compliance data.
• eFlash dominated the market and accounted for a share of 40.5% in 2023. eFlash memory offers faster read and write speeds than traditional NVM technologies.

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