PUBLISHER: Grand View Research | PRODUCT CODE: 1588672
PUBLISHER: Grand View Research | PRODUCT CODE: 1588672
The global magneto resistive ram market size is expected to reach USD 21.14 billion in 2030 and is projected to grow at a CAGR of 38.3% from 2025 to 2030. Non-volatile memories, such as MRAM and Resistive random Access Memory (RRAM/ReRAM), are expected to replace the existing volatile memories such as Dynamic Random Access Memory (DRAM) and Static Random-Access Memory (static RAM or SRAM). The replacement would be possible due to different benefits offered by the advance non-volatile memories. The existing flash memories are facing technological limits; and their further advancements are expected to increase their costs, thus, leading to the invention of non-volatile memories that are capable of avoiding data loss on power discharge.
The standalone markets, such as wearables, embedded Multipoint Control Unit (MCU)s, smart cards, and storage class memories for enterprise storage, are expected to offer immense opportunities to the market.
The first generation MRAM and second generation Spin-Transfer Torque MRAM (STT-MRAM) are expected to replace traditional DRAMs and SRAMs. Initially, the prices associated with these memories are expected to be high, which would reduce with the increasing rates of developments.
Moreover, the increasing demand of these memories is predicted to promote the demand for equipment, used in their manufacturing. The manufacturing of these memories require specialized fabrication equipment, similar to those used in magnetic read sensors. Thus, promoting the growth of capital equipment required for manufacturing of non-volatile memories equipment.
The market may face challenges due to its complex structure and high costs of manufacturing of memories. However, these challenges can be circumvented by technological advancements and increased production.