Memristors Market - Forecasts from 2024 to 2029

The memristors market is projected to rise at a compound annual growth rate (CAGR) of 9.83% over the forecast period to reach US$2,536.345 million by 2029, increasing from estimated value of US$1,586.993 million in 2024.

A memristor, is also called resistive memory, is a type of non-volatile memory gadget broadly utilized in different computing and electronic designs. Unlike conventional resistors, memristors can control the stream of current in electric circuits by holding a memory of the amount of charge that has already passed through them. This interesting characteristic empowers memristors to store and handle data effectively, making them progressively necessary to advanced electronic devices.

The burgeoning electronics industry serves as a key catalyst in driving the memristors market development. As demand for progressed computing and electronic devices proceeds to surge, the adoption of memristor innovative technology is anticipated to witness a significant increase, fueling advanced innovation and improvement in the sector.

In the fiscal year 2023, the export of electronic merchandise surged by 50.52% to reach US$ 23.57 billion, a significant increment from US$ 15.66 billion in FY22. Key export items in this segment incorporate mobile phones, IT equipment (such as laptops and tablets), consumer hardware (including TV and audio gadgets), industrial electronics, and auto electronics. According to the Ministry of Electronics & Information Technology's vision, India aims to promote its electronics industry exports to US$ 120 billion by 2026.

This substantial expansion in electronic exports demonstrates a rising requirement for advanced electronic devices, subsequently driving the market for memristors. Memristors play a significant part in improving the performance and productivity of electronic gadgets, making them vital components in different computing and gadget applications. As the demand for electronic goods continues to soar, fuelled by factors like technological advancements and increasing consumer preferences, the market for memristors is poised to expand in tandem with the electronics industry expansion.

According to Ministry of Electronics & Information Technology revealed the second volume of the Vision record on Electronics Manufacturing in India, anticipating a significant upward trajectory for the industry. The electronics manufacturing division is poised to increase from its valuation of US$ 75 billion in 2020-21 to a stunning US$ 300 billion growth by 2025-26. This yearning extension plan implies a noteworthy surge in requirement for electronic components and devices, including memristors, which play a pivotal part in different electronic applications.

As the electronics manufacturing sector in India encounters fast development and advancement, the demand for progressed electronic components like memristors is anticipated to take off, driven by the requirement for proficient and dependable memory systems across a wide extend of electronic devices. Hence, the predicted expansion within the electronics manufacturing division presents a profitable opportunity for the memristors market, because it aligns with the expanding demand for technologically advanced electronic components in India's burgeoning electronics industry.

The rising electronics industry, ideal execution of memristors, and resistive memory launches are expected to drive the market expansion.

As per the Vision Document released by the Press Information Bureau (PIB), Government of India, product categories such as mobile phones, laptops and tablets, wearables and hearables, consumer electronics, and other electronic hardware manufacturing are anticipated to reach production esteem worth US$300 billion by 2025-26 period. Moreover, as per the same source, production-linked incentive (PLI) plans are also effectively executed within the nation to extend the manufacturing and export yield of the electronics sector.

Additionally, according to the August 2022 publication by the National College of Defense Innovation, China, in an investigative ponder comes about, a self-rectifying Pt/HZO/TiN memristor outflanked other non-volatile memory gadgets on an extent of measurements.

In addition, according to the August 2022 publication by the National University of Defense Technology, China, in a research study results, a self-rectifying Pt/HZO/TiN memristor outperformed other non-volatile memory devices on a range of metrics. The device had a larger memory window 104 as compared to the 7,25, and 5 memory window capacities of other devices. The memristor device had a significantly low power consumption of 0.03 (HRS, nW) as compared to the 0.2, 100, and 0.8 (HRS, nW) consumption by other device structures.

Additionally, Samsung, in its January 2022, news release, announced the demonstration of the first in-memory computing in the world which is based on magnetoresistive random access memory (MRAM). The chip achieved respective accuracies of 98% and 93% in the classification of hand-written digits and detecting faces from scenes.

The combined growth of the booming electronics industry coupled with investments, optimal performance of memristor devices, and product releases are anticipated to increase the market share in the forecasted duration.

The digital memory segment is expected to hold a significant share in the projected period

The high rate of adoption of memristors in the digital memory segment is expected to propel the memristor demand substantially. Memristor-based digital memories are expected to replace the CMOS in the storage class memory department, as these are capable of giving an outstanding performance, such as rapid write speeds, low consumption of power, high scalability, three-dimensional integration, cost friendliness, and compatibility with the fabrication process of CMOS. These factors are projected to catalyze the rate of adoption of the memristors. RRAM has witnessed the most development among all of the digital memory memristor-based technologies.

United States is anticipated to have a noteworthy share in the Memristors market

Owing to the presence of leading players in the market in the country, the region has a highly informed integrator base of memristor components. The rising prevalence of automation, IoT, edge computing, flexible electronics, artificial intelligence, and neuromorphic computing is boosting the demand for memristors in the country. Furthermore, the growing electronic industry is accelerating the memristors market growth. With high disposable income, the country has a good consumer base for the memristors market.

Key Market Developments:

• In April 2022, scientists from Washington State University developed a prototype neuromorphic memristor using honey. The scientists state the memristor has very similar functionality to human neurons. Further, this can be a step toward reducing e-waste and increasing eco-friendly materials. Furthermore, in June 2020, MIT improved the memristor device performance by using silver and copper.
• In March 2024, a group of students from Chongqing Normal University in China conducted research on memristors focusing on dielectric-layer material systems. Their study aimed to investigate and analyze the properties and conduct of memristors with distinctive dielectric-layer materials, possibly contributing to progressions in memristor innovation. This investigation might lead to developments in the design and advancement of memristor-based gadgets for different applications in electronics and computing systems.

Market Segmentation:

The Memristors Market is segmented and analyzed as below:

By Type

• Molecular and Ionic Thin Film
• Spin and Magnetic

By Application

• Digital Memory
• Logic Circuits
• Biological and Neuromorphic Systems
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Japan
• Others