Growing demand across several application areas such as military and healthcare is expected to drive the non-volatile memory market. The need to manage large volume of data and information in companies from sources such as e-mail, database, intranet and data management systems etc. is estimated to positively impact market growth. Owing to technological advancements the market is witnessing rising need for low power consuming and light storage devices such as solid state drive (SSD).
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FRAM and STT-RAM and FRAM are estimated to emerge as the key technologies over the next six years. Non-volatile memory is used in a wide range of applications such as industrial, energy & power, transportation, consumer electronics, military and healthcare etc. Asia Pacific is expected to grow at a considerable rate over the forecast period owing to presence of key market players in countries such as India, China, Japan and South Korea. Additionally, surging computer and smartphone demand in countries including India and China may positively impact regional non-volatile memory market over the next six years.
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Key players in the non-volatile memory market include Cypress Semiconductor Corporation, Crossbar Inc., Fujitsu Limited, Toshiba Corporation, Micron Technology Inc., SK Hynix Inc, Everspin Technologies Inc., Infineon Technologies Ag, Samsung Electronics, Viking Technology and Texas Instruments Incorporated. Market players focus on mergers and acquisitions to strengthen their market position. For instance in 2013, SanDisk Corporation completed the acquisition of SMART Storage, a developer of enterprise SSDs to strengthen its enterprise storage portfolio. Patents and licenses play a major role in vendor’s success. Some license agreements require one-time or periodic payments while others result in additional revenue for the market player.
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