North America Magneto Resistive RAM Market Size, Share & Trends Analysis Report By Material (Spin-Transfer Torque MRAM (STT-MRAM) and Toggle MRAM), By Application, By Country and Growth Forecast, 2024 - 2031

North America Magneto Resistive RAM Market Size, Share & Trends Analysis Report By Material (Spin-Transfer Torque MRAM (STT-MRAM) and Toggle MRAM), By Application, By Country and Growth Forecast, 2024 - 2031

The North America Magneto Resistive RAM Market would witness market growth of 37.3% CAGR during the forecast period (2024-2031).

The US market dominated the North America Magneto Resistive RAM Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $7,241.7 million by 2031. The Canada market is experiencing a CAGR of 40.1% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 39.1% during (2024 - 2031).

Magneto resistive RAM (MRAM) is a non-volatile memory technology that uses magnetic storage elements to store data. Unlike traditional memory types such as Dynamic Random-Access Memory (DRAM) or Static Random-Access Memory (SRAM), which use electrical charges or transistors to hold information, MRAM stores data through the magnetic orientation of elements. This means that MRAM can retain data even when power is turned off, making it non-volatile, similar to flash memory, but with significantly faster read and write speeds.

MRAM works based on the principle of magnetoresistance, where the resistance of a material changes when exposed to a magnetic field. In MRAM, data is stored by creating a magnetic field in tiny magnetic regions called magnetic tunnel junctions (MTJs). These MTJs consist of two layers of ferromagnetic material separated by a thin insulating barrier. One of these layers has a fixed magnetic orientation, while the other layer’s orientation can be changed using electrical currents. When the magnetic orientations of these two layers are aligned (parallel), the resistance is low, representing a binary "0." The resistance is high when the orientations are opposed (antiparallel), representing a binary "1." This allows MRAM to store bits of data using different resistance states.

Enterprises in Mexico are increasingly looking for memory solutions that offer both speed and reliability to manage the large amounts of data generated by digital businesses. MRAM’s non-volatility and ability to retain data even during power outages make it an ideal solution for data centers aiming to reduce energy consumption while maintaining data integrity. The Mexican government has supported digital transformation through initiatives such as the Digital Economy Strategy, which encourages investment in IT infrastructure and cloud services. Hence, this collective push towards more reliable and efficient memory solutions positions North America as a critical player in the market.

Based on Material, the market is segmented into Spin-Transfer Torque MRAM (STT-MRAM) and Toggle MRAM. Based on Application, the market is segmented into Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense, and Other Application. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

• Honeywell International, Inc.
• Infineon Technologies AG
• Intel Corporation
• Samsung Electronics Co., Ltd. (Samsung Group)
• Renesas Electronics Corporation
• Micron Technology, Inc.
• Everspin Technologies, Inc.
• NVE Corporation
• Avalanche Technology Inc.
• Crocus Technology, Inc.

North America Magneto Resistive RAM Market Report Segmentation

By Material

• Spin-Transfer Torque MRAM (STT-MRAM)
• Toggle MRAM

By Application

• Enterprise Storage
• Consumer Electronics
• Robotics
• Automotive
• Aerospace & Defense
• Other Application

By Country

• US
• Canada
• Mexico
• Rest of North America