According to a new market report published by Lucintel, the future of the magneto resistive RAM (MRAM) market looks promising with opportunities in the consumer electronics, robotics, automotive, enterprise storage, and aerospace and defense industries. The global MRAM market is expected to reach an estimated $7.1 billion by 2027 with a CAGR of 22% from 2021 to 2027. The major drivers for this market are increasing demand for wearable devices, high adoption of IoT devices, advancement in computing technology, need for higher memory space, and reduction in boot up time.
In this market, toggle and spin-transfer torque (STT) MRAM are used in various end use industries. Lucintel forecasts that STT-MRAM will remain the largest segment due to growing preference for fast, efficient, highly scalable, and non-volatile memory devices in several end-use industries.
Within the MRAM market, enterprise storage will remain the largest end use industry during the forecast period due to reduction in the system down time, enhancement in data recovery, and lowering of overall cost of operation.
North America will remain the largest region over the forecast period, supported by increasing demand for advanced data storage technologies, shift towards cloud-based services, and presence of various key players in the region.
Emerging trend, which has a direct impact on the dynamics of the MRAM industry, includes reduction in size of the chip area of STT-MRAMs. Avalanche, CROCUS, Honeywell, Samsung, and Everspin are among the major MRAM manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global MRAM market by type, end use industry, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global MRAM Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global MRAM market by type, end use industry, and region as follows:
By Type [$M shipment analysis for 2016 – 2027]:
By End Use Industry [$M shipment analysis for 2016 – 2027]:
Consumer Electronics
Robotics
Automotive
Enterprise Storage
Aerospace and Defense
Others
By Region [$M shipment analysis for 2016 – 2027]:
North America
Europe
Asia Pacific
The Rest of the World
This 160-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
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This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global MRAM market by type (toggle MRAM and STT-MRAM), end use industry (consumer electronics, robotics, automotive, enterprise storage, aerospace and defense, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the MRAM market?
Q.5 What are the business risks and threats to the MRAM market?
Q.6 What are emerging trends in the MRAM market and the reasons behind them?
Q.7 What are some changing demands of customers in the MRAM market?
Q.8 What are the new developments in the MRAM market? Which companies are leading these developments?
Q.9 Who are the major players in the MRAM market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the MRAM market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11. What M&A activities did take place in the last five years in the MRAM market?