PUBLISHER: IMARC | PRODUCT CODE: 1468252
PUBLISHER: IMARC | PRODUCT CODE: 1468252
The global magneto resistive RAM (MRAM) market size reached US$ 617.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 11,076.3 Million by 2032, exhibiting a growth rate (CAGR) of 37.1% during 2024-2032.
Magneto resistive random access memory (MRAM), or magnetic RAM, is a non-volatile memory that uses magnetic charges to store information. Spin-transfer torque and toggle MRAM are some of the commonly available variants. They utilize magnetic tunnel junction (MTJ) that comprises two magnetic layers separated through a dielectric or insulation layer. It is a high-density RAM and it includes a capacitor and a transistor. In comparison to the traditionally used dynamic random-access memory (DRAM), MRAM can retain the information stored in the memory without a power source, is more cost-effective and does not require a large energy-consuming pulse. As a result, it is widely used in robotics, automobiles, consumer electronics and enterprise storage systems.
Significant growth in the consumer electronics industry is one of the key factors creating a positive outlook for the market. MRAM is widely used in various electronic gadgets, such as workstations, smart wearables, smartphones and digital cameras. Additionally, the increasing product demand in the aerospace and defense industries for high-temperature data storage is favoring the market growth. Moreover, various product innovations, such as the development of low-power MRAM variants for radiation-hardened microchips, are providing thrust to the market growth. They are power-efficient, resistant to radiations and can operate under temperature fluctuations. In line with this, the increasing demand for Internet of Things (IoT)-enabled devices and the widespread utilization of advanced sensors and smart robots are positively impacting the market growth. Other factors, including the increasing product utilization in miniaturized and customized integrated circuits (ICs), along with the widespread adoption of MRAM-embedded medical sensors for non-invasive diagnostic testing of medical various disorder, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global magneto resistive RAM (MRAM) market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, offering and application.
Toggle MRAM
Spin-Transfer Torque MRAM (STT-MRAM)
Stand-alone
Embedded
Consumer Electronics
Robotics
Enterprise Storage