In the ever-growing digital era, megatrends such as cloud computing, IoT devices, big data, artificial intelligence, robotics, and mobile communications need cutting-edge memory technologies to facilitate their innovations. This demand from the digital applications and high computing services is endlessly triggering the growth of robust technologies to evolve in the non-volatile memory market. Additionally, these emerging digital solutions are inclined towards low power and data-centric applications, which is creating vast opportunities for the non-volatile memory (NVM). These opportunities are driving technologies that provide high-performance and low-cost NVM solutions. Along with that, simplified memory hierarchy is introduced in the architecture of non-volatile memory devices to reduce system power, which is driving the digital communications market. As a result, the global Non-Volatile Memory Market achieved a value of $52.5 billion in 2018, and the market is expected to grow at a CAGR of 9.3%, during 2019-2025.
Cloud and Data Storage for Enterprises Uplifting the Demand in the Non-Volatile Memory Market
Though embedded NVM solutions are popularly known in the market, the demand for the standalone applications of NVM technologies is proliferating at present-day because of the rising cloud-based data storage technologies. Today, enterprises, big and small, are embracing the multi-cloud and hybrid data-center environments. In any environment, hardware technology works much faster than the software application. So, the demand to promptly access the data that is stored in public clouds and on-premises is amplifying and is resulting in the advanced NVM solutions such as flash and NVM Express protocol. Tools such as NVM Express protocol are gaining prominence among its vendors and end-users such as Cisco, Micron, Dell, Intel, NetApp, Samsung, and Seagate for the high-performance and low latency they achieve with the help of flash and other non-volatile memory. The cloud environment has proliferated applications of the non-volatile memory. Few of them include:
For data recovery – In a cloud environment, data recovery and protection are essential aspects for any organization. Backing up data, duplication, and restoring can be challenging when the storage is not swift and efficient. With the help of NVM technology such as flash memory as primary memory storage, the data protection can be smooth, and restoration is accelerated further.
For Virtualization – Scalability and parallelism are the performance benefits achieved by the non-volatile memory technologies. In a public cloud, to maintain high speed while accessing physical storage, the costs get bottlenecked. Therefore, most of the computing in the public cloud environment and part of the computing in the on-premises environment leverage on virtual machines (VMs) and implements virtual storage devices. Non-volatile memory solutions support the hardware virtualization with the standard drivers and allow all types of VMs to run in the cloud. This enables the VM to run smoothly with high-speed on multiple versions of Windows or different flavors of Linux.
These non-volatile memory technologies such as NAND Flash and 3D XPoint™ Technology are quite faster compared to the hard drives and can read the media under a microsecond, making them proficient and streamlined in the storage activities. Besides, they can handle encryption and ensure digital asset security in the storage environment of the organizations. Owing to these benefits, cloud enterprises and IT customers are taking advantage of these cutting-edge NVM technologies, thereby expanding the industry-specific investments in the non-volatile memory market. As a result, the non-volatile memory market demand is flourishing with huge investments.
End-Users of APAC Boosting the Non-Volatile Memory Market Demand
APAC is the leading region in the global non-volatile memory market and held a regional share of 45.6% in 2018. A solid base of consumer durables, mobile devices, and automotive industries is triggering the growth of the non-volatile market in this region. China, Japan, and India are dominant countries in the automotive industry. China is the largest producer of commercial vehicles followed by Japan, and also India occupied fourth place in the manufacturing of commercial vehicles as of 2018. The high-volume automotive market needs smarter ICs to perform efficiently, even in harsh environments. These smarter ICs need non-volatile memory to ensure the quality. Configuration, data logging, data retention, user settings, calibration, and secure information storage are the significant aspects of the non-volatile memory that are prominently used in automotive sectors. Furthermore, the reprogrammable NVMs enable product-specific designs in the cars. As a result, the growing automotive sector of APAC is augmenting the demand for non-volatile memory market.
Subsequently, the trade value of non-volatile data storage devices of APAC countries such as Hong Kong, Republic of Korea, and Malaysia experienced a tremendous growth rate of about 63%, 152%, and 103%, respectively during 2017-2018. This indicates the rising demand for the non-volatile memory market in the APAC region. Besides, the Indian electronics market is experiencing significant growth and is projected to grow at a CAGR of 41%, during 2017-2020. Consumer electronics being a predominant end-user industry of the non-volatile memory market boosts the growth of the market in APAC.
Consumer Electronics to Be Most Lucrative In the Non-Volatile Memory Market
Consumer electronics is the fastest-growing segment in the non-volatile memory market and is accelerating at a CAGR of 12.3%, during the forecast period. Si-based electronics widely use nonvolatile memory technologies. Flash memory of NVM technology is popular among consumer electronics such as cell phones and music players. Besides these emerging NVM technologies promise to store more data at low costs, unlike silicon chips. Therefore, these find vast opportunities, which are effectively implemented by the electronics industry. Furthermore, the research activities are increasing rapidly to find effective alternatives to memories existing in the future of computing systems. As a result, these research activities are gaining commercial validation and are amplifying the growth of the non-volatile memory market in the consumer electronics sector.
Key Players Perspective in the Global Non-Volatile Memory Market
The core companies operating with a significant share in the global non-volatile memory industry are Samsung Electronics Co., Ltd. (South Korea), Toshiba Corp. (Japan), Micron Technology, Inc. (U.S.), SK Hynix, Inc. (South Korea), and Western Digital Corp. (U.S.). Recent developments such as expansions, acquisitions, new product launches, and partnerships are increasing the revenue of these significant stakeholders non-volatile memory industry.
Few of the expansions, acquisitions, and product launches include:
· In Oct 2018, Micron Technology Inc., acquired IM Flash Technologies, LLC, to expand their services in 3D XPoint technology and other emerging memories and address the data needs of its customers. The company identifies that this investment in a strong manufacturing facility and skilled workforce reinforces their innovations and executions in-memory technologies.
· In Oct 2018, Samsung Electronics Co., Ltd, a global leader in electronics and semiconductors, announced several new additions to its semiconductor technology ecosystem. These next-generation technology solutions that comprise DRAM, NAND flash, and SSD (solid-state drive).
· In Aug 2017, Western Digital Corp. acquired Tegile systems, a leading provider of flash and other non-volatile memory storage solutions. Tegile systems have been at the forefront in delivering persistent storage solutions at the speed of flash memory to the enterprise data center applications. With this acquisition, Western Digital Corp strengthens its long-term strategy of addressing its customers’ rising storage demands. Besides, the company is looking forward to expanding its product portfolio by combining Tegile’s innovative storage system solutions.
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