Embedded Non-Volatile Memory Market: Current Analysis and Forecast (2022-2028)

Embedded Non-Volatile Memory Market: Current Analysis and Forecast (2022-2028)

The embedded non-volatile memory is a mini chip that is used to meet a variety of embedded system applications. Embedded non-volatile memories consume very less energy. These memories are primarily used in sim cards, microcontrollers, PMIC, and displays ICs.

The embedded non-volatile memory market is expected to grow at a steady rate of around 61% owing to the high efficiency of non-volatile memories. Embedded non-volatile memories are very small in size which makes them ideal for their implementation in small portable devices.

The growing adoption of non-volatile memories is mainly attributed to the growing prevalence of portable consumer electronics/ devices. For instance, according to zippia, 85% of U.S adults own a smartphone as of 2020. Moreover, embedded non-volatile memories use very less power which makes them an ideal implementation option in consumer electronics and smartphones. Furthermore, embedded non-volatile memories are more secure as they come with a protective layer and the growing need for secured connected devices is also expected to drive the market during the forecast period.

• Based on type, the market is segmented into eFlash, eE2PROM(Electrically Erasable Programmable Read-Only Memory), FRAM (Ferroelectric RAM), and others. The eFlash segment led the embedded non-volatile memory market in 2021 with the highest market share. The growth of the segment is mainly attributed to its various security features. Moreover, eFlash memories are easily re-programmable and require a fairly simple process, which makes them more accessible.
• On the basis of application, the market is segmented into consumer electronics, automotive, information and communication, and others. The IT and communication segment is expected to gain significant market share during the forecast period. The growing adoption of consumer electronics such as smartphones, laptops, televisions, etc, is expected to drive the market during the analysis time period. For instance, according to the business of apps, apple (a consumer electronics company) generated $365 billion in the year 2021, 52% of which came from iPhone sales.
• For a better understanding of the market adoption of the embedded non-volatile memory industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia Pacific region led the market with the largest market share of the embedded non-volatile memory market in 2021 and is expected to maintain this during the forecast period. The growth in the region is mainly attributed to the growing demand for consumer electronics in the region. Furthermore, the rising industrialization in countries like India and China is expected to significantly influence market growth. Moreover, the growing number of electronics manufacturers and high migration of manufacturing units from developed economies is expected to drive the market growth during the analysis time period. For instance, according to Macrotrends, China’s production output for 2021 was $4,865.82B, a 26.04% increase from 2020.
• Some of the major players operating in the market include CrossBar Inc, Everspin Technologies Inc, Winbond, Fujitsu, eMemory Technology Inc, Microchip Technology Inc, Texas Instruments Incorporated, United Microelectronics Corporation, Hua Hong Semiconductor Limited, and Synopsys, Inc.