Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The primary function of non-volatile memory is to store data and retrieve the data even after power shortage. It acts as a secondary storage device. Rising demand for the effective storage solutions which are expected to drive the market growth of non-volatile memory.
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The global non-volatile memory is segmented on the basis of type, application and end-use. On the basis of type, it is sub-segmented into electrically addressed, mechanically addressed, fram, zero-ram, nanobridge and molecular. Electrically addressed segment is anticipated to grow at the fastest rate during the predicted period.
Electrically addressed sub-segment is anticipated to grow at fastest rate on the account of continuous development in electronics industry. On the basis of application, it is sub-segmented into automotive application, enterprise storage, consumer electronic and healthcare monitoring and industrial. Consumer electronics sub-segment is anticipated to be the fastest growing in the forthcoming years. This is attributed to the continuous technological development which enables better storage devices .This in turn propels the demand for non-volatile memory. On the basis of end-use industries, it is sub-segmented into telecom & it, healthcare, automotive, energy & power and manufacturing industries.
The CAGR of global non-volatile memory market is anticipated to be around 11% during 2017-2027. The increasing demand for consumer electronics is anticipated to augment the demand for non-volatile memory in the upcoming years.
By region, Asia-Pacific is the leading region in the global non-volatile memory market. The various factors attributed to its market growth are increasing income of population in the region which enables better spending of the population towards the consumer goods. The increasing manufacturing and shipment of the consumer goods is also expected to further strengthen the market growth in the region.
Technological development is anticipated to boost the demand for non-volatile memory
The increasing penetration of high-performance smartphone that deploys non-volatile memory is expected to fuel the market growth of non -volatile memory. These smartphones uses the advanced processors and non-volatile memory in order to enable the faster transfer of data. Moreover, various companies operating in non-volatile memory market are continuously investing in technological up gradation by increasing the capacity of the storage devices. This indirectly drives the demand for the global non -volatile memory market during the predicted period.
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