PUBLISHER: KBV Research | PRODUCT CODE: 1555888
PUBLISHER: KBV Research | PRODUCT CODE: 1555888
The Global Embedded Non-volatile Memory Market size is expected to reach $8.8 billion by 2031, rising at a market growth of 11.3% CAGR during the forecast period.
The United States, in particular, has been a key player in driving innovation in sectors such as information technology, telecommunications, and defense, which heavily rely on eNVM technologies. The growth of smart manufacturing, increasing investments in IoT, and the expanding automotive and aerospace sectors have further propelled the demand for eNVM in North America. Consequently, the North American region would acquire nearly 24% of the total market share by 2031.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, in March, 2024, STMicroelectronics N.V. unveiled an 18nm FD-SOI process with embedded phase change memory (PCM), co-developed with Samsung Foundry. This technology boosts performance and power efficiency for embedded processing, supports larger memory sizes, and integrates more analog and digital peripherals. Moreover, in October, 2023, Micron Technology, Inc. unveiled a 32Gbit dual-layer 3D stacked non-volatile ferroelectric memory. Titled "NVDRAM," it claims to deliver near-DRAM performance with enhanced energy efficiency for AI workloads, supporting faster data movement and larger neural network models.
KBV Cardinal Matrix - Embedded Non-volatile Memory Market Competition Analysis
Based on the Analysis presented in the KBV Cardinal matrix; Samsung Electronics Co., Ltd. is the forerunner in the Market. In January, 2022, Samsung Electronics Co., Ltd. unveiled the world's first in-memory computing using MRAM (Magnetoresistive Random Access Memory). The innovation, detailed in the paper "A crossbar array of magnetoresistive memory devices for in-memory computing," highlights Samsung's advancements in in-memory technology and AI chips. Companies such as NXP Semiconductors N.V., STMicroelectronics N.V., and Infineon Technologies AG are some of the key innovators in Market.
Market Growth Factors
Information and communication technologies are integrated into a variety of city infrastructure components in order to enhance the quality of life for residents and optimize the efficacy of urban services in smart cities. In smart grid applications, eNVM plays a crucial role in managing the vast data generated by energy meters, sensors, and control systems. Hence, as more cities worldwide embrace the smart city model, the demand for this memory is expected to rise.
As digital interconnectivity expands, concerns about data breaches, cyberattacks, and unauthorized access have intensified, particularly in finance, healthcare, and government services. The necessity of secure eNVM is further emphasized by the proliferation of Internet of Things (IoT) devices. Thus, the demand for secure eNVM solutions will grow as digital threats evolve.
Market Restraining Factors
The manufacturing process for eNVM, especially when using sophisticated technologies like FinFET and FD-SOI, requires specialized equipment and high-quality materials, which significantly drive up production costs. The expensive materials required for eNVM production also contribute to manufacturing costs. Hence, the high manufacturing costs associated with eNVM production present a barrier to its widespread adoption.
Wafer Size Outlook
On the basis of wafer size, the market is bifurcated into <100mm and >100mm. The <100mm segment recorded 41% revenue share in the market in 2023. The segment's growth reflects the growing significance of applications that require higher performance, reduced power consumption, and greater data density. Wafers below 100mm are instrumental in cutting-edge technology sectors such as advanced consumer electronics, telecommunications, and IoT devices.
Product Outlook
Based on product, the market is divided into eFlash, eE2PROM, FRAM, and others. The eE2PROM segment procured 34% revenue share in the market in 2023. eE2PROM (Electrically Erasable Programmable Read-Only Memory) is widely utilized in applications where frequent data writing and reprogramming are essential.
Application Outlook
By application, the market is segmented into BFSI, consumer electronics, government, telecommunications, information technology, and others. The information technology segment garnered 20% revenue share in the market in 2023. The IT sector's increasing reliance on eNVM stems from the rising demand for advanced data storage solutions that offer enhanced performance, data security, and reliability.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment acquired 46% revenue share in the market in 2023. This strong performance is driven by the region's thriving consumer electronics industry, rapid industrialization, and increasing demand for advanced semiconductor technologies.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Embedded Non-volatile Memory Market Report Segmentation
By Wafer Size
By Product
By Application
By Geography