PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1425008
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1425008
Memristors Market size was valued at USD 94.2 Million in 2022, expanding at a CAGR of 65.7% from 2023 to 2030.
A memristor, derived from the words "memory" and "resistor," serves a dual purpose as both a memory device and a resistor within an electrical circuit. The resistance of a memristor adjusts based on its unique memristance function. The concept of memristors was initially formulated in 1970, with the first functional prototype emerging in 2008 through the efforts of HP Development Company, L.P. Since then, significant investments have been channeled into memristor research and development by various companies. Presently, the memristor market is at an early stage of commercialization. Knowm, Inc. pioneered the introduction of the first functional memristor device to the market in July 2015. However, it is worth noting that these devices are currently priced at a substantial $220, primarily intended for research purposes.
Memristors Market- Market Dynamics
Advantages offered by memristors in comparison to other memory solutions is expected to propel the market demand
The global memristor market's growth trajectory is guided by several key factors, including the advantages offered by memristors in comparison to other memory solutions. This includes their ability to cater to the increasing demand for high-speed performance in the electronic, IT, and telecommunications industries. These sectors require elevated processing power and memory density while keeping costs in check, and memristors align well with these needs. Moreover, the proliferation of industrial robots, which rely on extensive memory capacity, and the surging demand for smart devices like tablets, watches, and smartphones, along with the expansion of data centers worldwide, further propel the memristor market's expansion. Memristors possess a significant advantage over other memory components, as they simplify the production of devices incorporating neural architecture. As emerging trends like Neural Architecture Search (NAS) gain prominence within the data center industry, memristors emerge as pivotal technology enablers, facilitating the realization of the full potential of such cutting-edge technologies. * The global memristor market's growth trajectory is guided by several key factors, including the advantages offered by memristors in comparison to other memory solutions. This includes their ability to cater to the increasing demand for high-speed performance in the electronic, IT, and telecommunications industries. These sectors require elevated processing power and memory density while keeping costs in check, and memristors align well with these needs. Moreover, the proliferation of industrial robots, which rely on extensive memory capacity, and the surging demand for smart devices like tablets, watches, and smartphones, along with the expansion of data centers worldwide, further propel the memristor market's expansion.
Memristors Market- Key Insights
As per the analysis shared by our research analyst, the global Memristors Market is estimated to grow annually at a CAGR of around 65.7% over the forecast period (2023-2030)
The Memristors Market is projected to grow at a significant rate driven by advantages offered by memristors in comparison to other memory solutions
Based on Type, the Molecular & Ionic Film Memristors segment was predicted to show maximum market share in the year 2022
Based on Application, Information Technology (IT) and Telecommunications was the leading Segment in 2022
On the basis of region, North America was the leading revenue generator in 2022
The Global Memristors Market is segmented on the basis of Type, By Application, and Region.
Based on the Type, the market is divided into two segments: Molecular & Ionic Film Memristor and Spin Based & Magnetic Memristor. Molecular & Ionic Film Memristors" dominate in the field of memristor technology. These memristors are based on the properties of molecular and ionic materials to exhibit resistance-switching behavior, which is crucial for their function as memory devices.
*
The market is categorized by Application into six segments: Electronics, It & Telecommunication, Industrial, Aerospace & Defense, Automotive, Healthcare. The Information Technology (IT) and Telecommunications sector is poised to command a substantial market share due to the transformative potential of memristors in this industry. Memristor technology is anticipated to herald a breakthrough, offering enhancements across various facets of integrated circuit design and computational capabilities. These versatile components find utility in a wide spectrum of Types within this sector, including servers, supercomputers, data centers, portable electronic devices, and industrial robotics. Recognizing the myriad advantages presented by memristors, prominent semiconductor and memory companies are making significant investments in the memristor market, further fueling its growth prospects.
Memristors Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to hold the largest market share over the forecast period due to the higher-than-average rate of R&D investment made by local companies and the knowledgeable integrator base of memristor components in comparison to other areas. The United States is home to many of the leading market participants and is also one of the primary contributors to most of the applications of memristors, such as edge computing, neuromorphic computing, automotive, flexible electronics, Internet of Things, and industrial robots in the recent past.
Companies operating in the memristor market are actively engaged in research, development, and innovation to harness the full potential of this emerging technology. Major players such as Crossbar Inc., Panasonic Corporation, 4DS Memory Limited, Adesto Technology, Micron Technologies Inc., Samsung Group, Sony Corporation, Western Digital Corporation, Knowm Inc., and Intel Corporation are at the forefront of advancing memristor technology. These companies are investing heavily in R&D to create memristor-based memory solutions that offer advantages over traditional memories. Memristors have the potential to revolutionize various industries, including electronics, IT, telecommunications, aerospace, automotive, and healthcare. They enable higher processing speeds, increased memory density, and reduced costs, making them highly attractive for applications like servers, data centers, portable electronics, and industrial robotics. In addition to research efforts, companies are also exploring partnerships and collaborations to accelerate memristor adoption. Memristors are seen as a key technology for enabling neural architecture in the data center industry, aligning with the growing trends in artificial intelligence and the Internet of Things (IoT). Overall, companies in the memristor market are poised to drive innovation and market growth by harnessing the unique capabilities of this transformative technology.
Recent Developments
In February 2022, Rain Neuromorphics Inc., a startup focused on creating chips that emulate the functioning of the human brain and catering to companies employing artificial intelligence (AI) algorithms, secured a funding of USD 25 million. The company's chip architecture incorporates a memristor circuit atop silicon wafers, a design strategy intended to facilitate an expansion of the company's market presence leveraging the recent investment.
In February 2022, Semiconductor Technologies achieved a significant milestone by successfully upscaling its silicon oxide-based resistive random access memory devices (RRAM). Additionally, the company showcased the electrical performance characteristics of these devices, indicating their suitability as integrated, cost-effective, and high-performance non-volatile memory solutions for logic devices operating at advanced processing nodes.