According to the new market research report "Non-Volatile Memory Market by Type (Flash (NAND, NOR), EEPROM, NVSRAM, Embedded, EPROM, 3D NAND, MRAM/STTMRAM, FRAM, RERAM/CBRAM, 3D XPOINT, NRAM), Wafer-Size, End-User Industry, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the market was valued at USD 54.3 billion in 2020 and is projected to reach USD 83.6 billion by 2025, at a CAGR of 9.0% between 2020 and 2025. Increasing demand for faster access and low power consuming memory devices is expected to drive the overall non-volatile memory market during the forecast period. The rising need for memory devices with high speed, low power consumption, and high scalability is expected to fuel the development of new non-volatile memories.

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Traditional memories such as flash is likely to hold the largest share of non-volatile memory market during forecast period

Flash memories (SSDs) are gradually replacing magnetic storages, and they are also used as substitutes for hard drives in high-performance desktop computers. Therefore, the market size for flash memories is higher in computer storage applications compared to other consumer electronic products. NAND flash is available at a lower cost compared to SRAM and DRAM, and can retain data for longer duration; hence, it is preferred in consumer electronic applications, such as mobile phones, digital cameras, and MP3 players.

300 mm wafer size is expected to hold the largest market share of non-volatile memory market during forecasted period

Nowadays, nearly all new fab upgrade and construction activities are taking place with 300 mm wafer processing. Over the last several years, there has been a tremendous increase in 300 mm (12″) wafer usage. Nearly all major chip manufacturers have either already built or have plans to build 300 mm fabrications, and nearly all equipment manufacturers have designed their new equipment with 12″ wafers. All 300 mm wafers are double-side polished and have a notch identical to the notch found on 200 mm wafers.

Consumer electronics is expected to hold the largest market share of non-volatile memory market during forecasted period

Consumer electronics is one of the largest application areas of non-volatile memory. The performance requirements in consumer electronics are continuously increasing owing to the rising need for high processing power and memory density while keeping product costs more or less persistent. These memory technologies have the capability to meet the requirements of consumer electronics equipped with advanced technologies such as AI, IoT, and big data analytics, which generate huge amounts of data to be stored. Non-volatile memory technologies are widely used in consumer electronics, such as wearable devices, set-top boxes, digital cameras, tablets, handheld personal communication systems, desktop PCs, and laptops, owing to the advancements in consumer electronic devices that require high performance capability.

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APAC to hold largest size of non-volatile memory market during forecast period due to rapid technological advancements in the region

APAC has the largest customer base in the world for consumer and enterprise storage applications. The non-volatile memory market has major applications in consumer electronics, mobile phones, and mass storage devices, which are continuously undergoing innovation. Various technologies related to the memory solution market are still in the process of commercialization.

The companies profiled in this report are Intel Corporation (US), Toshiba Corporation (Japan), SAMSUNG ELECTRONICS (South Korea), Adesto Technologies Corporation (US), Viking Technology (Taiwan), Crossbar Inc. (US), Kilopass Technology (US), Sidense Corporation (Canada), Sandisk Corporation (US) and Micron Technology (US) And many others.