The world market for non-volatile memory is projected to gain impetus in its growth owing to the increasing demand for the memory in wearable and connected devices. Non-volatile memory comes with qualities such as low consumption of power, excellent speed, and high scalability. The demand for non-volatile memory is expected to soar with the increasing demand for certain types of consumer electronics such as optical discs, flash drives, and computers.
The global non-volatile memory market is envisioned to be segmented according to type, application, and geography. The segment of consumer electronics could outshine other applications of non-volatile memory in the years to come.
The report on the global non-volatile memory market offers a comprehensive evaluation of key aspects such as competitive scenario, growth drivers and restraints, and trends and opportunities. Readers could gain a deeper understanding of the market as analysts shed more light on vital factors positively influencing market growth.
Global Non-volatile memory Market: Trends and Opportunities
The world non-volatile memory market is envisaged to gain momentum due to increased application in the consumer electronics and automotive industries. In addition to that, a growing count of people now have increased disposable incomes which they are willing to spend on consumer electronics such as tablets, smartphones, and laptops. As such, with a growing demand comes an increased need for the production of such items.
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There is, however, a flip side of the story as well. Non-volatile memory does not come cheap, rather it is highly priced. The high cost factor, thus, restrains the growth of the market for non-volatile memory. However, non-volatile memory comes with the unique quality of storing data permanently even when the power of the system is turned off. Apart from that, it is also the ease of storage that offers ample opportunity for the non-volatile memory market worldwide.
Global Non-volatile memory Market: Geographical Analysis
In the present regional scenario of the international non-volatile memory market, North America expected to be trailed by Europe could be showcasing its prominence in terms of revenue. However, developing regions such as Asia Pacific are anticipated to secure a dominant share in the near future. Some of the other important regions of the market could include the Middle East and Africa and Latin America.
The overall market for non-volatile memory in Asia Pacific is prophesied to be a major contributor of the market. The region’s expanding population along with the availability of disposable income gives the market for non-volatile memory a strong boost. Besides, there is growing inclination of people toward spending more on consumer and automotive goods, thus providing a valuable uplift to the market. Prominent economies of the region, namely China, India, Japan, and South Korea are some of the key nations that spearhead the growth of the market. North America and Europe are also projected to significantly contribute toward the growth of the market for non-volatile memory.
Global Non-volatile memory Market: Companies Mentioned
Experienced research analysts forecast fierce competition between key players that are operating in the world market for non-volatile memory. New companies jostle with the already established players in a bid to capture a larger share of this highly competitive market. Some of the prominent names in the market include Samsung Electronics Co. Ltd., Micron Technology Corporation, Intel Corporation, Sandisk Corporation, Toshiba Corporation, Fujitsu Ltd., Adesto Technologies, Crossbar Inc., SK Hynix, Inc., and Viking Technology amongst several others.