Global Magneto Resistive RAM (MRAM) Market to Reach $1.3 Billion by 2026

SAN FRANCISCO, June 25, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Magneto Resistive RAM (MRAM) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: March 2021
Executive Engagements: 3064
Companies: 37 - Players covered include Avalanche Technology, Inc.; Crocus Nano Electronics, LLC; Everspin Technologies, Inc.; Honeywell International, Inc.; NVE Corporation; Samsung Electronics Co., Ltd.; Spin Memory, Inc.; Toshiba Corporation and Others.
Coverage: All major geographies and key segments
Segments: Application (Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.

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ABSTRACT-

Global Magneto Resistive RAM (MRAM) Market to Reach $1.3 Billion by 2026
MRAM or Magneto Resistive Ram represents a non-volatile random access memory for storing bits of data. Growth in the global market is being driven mainly by the increasing demand for cost-effective, power-efficient, fast, highly scalable, and non-volatile memory from several end-user industries, rising demand for wearable and flexible electronics, and expanding research & development activities. Advancements in technology are also expected to boost market growth. The magneto resistive RAM demand will be particularly driven by applications in enterprise storage, aerospace & defense industries, and consumer electronics. At present, many consumer electronics applications use advanced memory devices for benefits of data integrity and reliability. This is expected to open new opportunities for the global MRAM market. The MRAM space is also witnessing increased investment in R&D for developing more advanced technology. Such researches are anticipated to open doors for newer applications for the product and fuel market growth further.

Amid the COVID-19 crisis, the global market for Magneto Resistive RAM (MRAM) estimated at US$254.1 Million in the year 2020, is projected to reach a revised size of US$1.3 Billion by 2026, growing at a CAGR of 32.1% over the analysis period. Enterprise Storage, one of the segments analyzed in the report, is projected to grow at a 36.4% CAGR to reach US$634 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Consumer Electronics segment is readjusted to a revised 32.3% CAGR for the next 7-year period. This segment currently accounts for a 23.8% share of the global Magneto Resistive RAM (MRAM) market. A key driver behind the steady growth in use of MRAM for enterprise storage applications is the increasing number of data centers, where enterprise storage functions as mass storage. Enterprise storage application is also poised to benefit from the use of less power by MRAM compared to flash, resulting in improved operational efficiency, which is critical in enterprise storage applications.

The U.S. Market is Estimated at $134 Million in 2021, While China is Forecast to Reach $398 Million by 2026
The Magneto Resistive RAM (MRAM) market in the U.S. is estimated at US$134 Million in the year 2021. The country currently accounts for a 42.98% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$398 Million in the year 2026 trailing a CAGR of 41.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24.8% and 27.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 31.6% CAGR while Rest of European market (as defined in the study) will reach US$557.2 Million by the end of the analysis period. North America is expected to continue leading the global market led by increased focus on research and development activities, rising demand from several end-user industries for memory solutions with advanced technologies, and the presence of major players in the region. MRAM is also witnessing increased demand in the automotive sector, wherein MRAMs find use in engine control units, in-car data log, multimedia systems and advanced transmission control among others. The medical devices market is also anticipated to provide major opportunities for MRAM market growth. The technology is expected to enable the development of next generation medical devices with sensors, which offer greater accuracy and sensitivity. Growth in Asia-Pacific region is being driven by the increasing adoption of cloud computing applications, extended Internet penetration, expanding data center infrastructure, and rapid developments in the semiconductor industry, which is resulting in higher demand for advanced memory technology for the semiconductor industry. Rising sales of mobile phones and wearable electronics, presence of major producers of consumer goods, foundry service providers, and memory manufacturers present high growth opportunities.

Robotics Segment to Reach $157.7 Million by 2026
In the global Robotics segment, USA, Canada, Japan, China and Europe will drive the 23.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$39.3 Million in the year 2020 will reach a projected size of US$176.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$11.9 Million by the year 2026. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: [email protected] 

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