PUBLISHER: The Business Research Company | PRODUCT CODE: 1653149
PUBLISHER: The Business Research Company | PRODUCT CODE: 1653149
Non-volatile memory (NVM) is a type of memory that retains stored data even when it is not powered. It serves the purpose of providing persistent data storage for applications where it is essential to maintain information during power outages or system shutdowns, such as in computers, smartphones, and embedded systems.
The primary types of non-volatile memory include flash memory, EPROM, FRAM, 3D-X Point, NRAM, and others. Flash memory is a specific type of non-volatile memory that can be electrically erased and reprogrammed. It is commonly used in devices such as solid-state drives (SSDs), USB flash drives, memory cards, and embedded systems. The wafer sizes for this memory include 200mm, 300mm, and 450mm, catering to end-user industries such as consumer electronics, enterprise storage, automotive and transportation, military and aerospace, industrial, telecommunications, energy and power, healthcare, agriculture, and retail.
The non-volatile memory express (NVMe) market research report is one of a series of new reports from The Business Research Company that provides non-volatile memory express (NVMe) market statistics, including non-volatile memory express (NVMe) industry global market size, regional shares, competitors with a non-volatile memory express (NVMe) market share, detailed non-volatile memory express (NVMe) market segments, market trends and opportunities, and any further data you may need to thrive in the non-volatile memory express (NVMe) industry. This non-volatile memory express (NVMe) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The non-volatile memory market size has grown rapidly in recent years. It will grow from $97.76 billion in 2024 to $112.48 billion in 2025 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to semiconductor industry, consumer electronics, energy efficiency, data storage needs, market competition, reliability and durability.
The non-volatile memory market size is expected to see rapid growth in the next few years. It will grow to $199.76 billion in 2029 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to autonomous vehicles, environmental concerns, advanced packaging, and hybrid memory solutions. Major trends in the forecast period include artificial intelligence (AI) and machine learning, 5G technology, edge computing, quantum computing, and neuromorphic computing.
The growing volume of data is anticipated to drive the expansion of the non-volatile memory market in the future. This increase in data is primarily fueled by the rise of IoT devices and the vast quantities of user-generated content on social media platforms, both of which continuously produce real-time information and interactions that contribute to global data growth. Non-volatile memory (NVM) is essential for managing these escalating data volumes because it retains information even when powered off, making it suitable for storage and long-term data retention. For example, a report published by The Linux Foundation, a US-based non-profit consortium, revealed that data growth for the average end-user organization reached an impressive 2,208 TB in 2022, reflecting a 215.43% increase and tripling from 700 TB in 2021. Thus, the rising volume of data is expected to propel the non-volatile memory market.
The rising demand for electronic devices is projected to boost the growth of the non-volatile memory market in the future. Electronic devices encompass a broad array of gadgets that rely on electronic components for their operation. Non-volatile memory technologies, such as NAND flash, are extensively utilized in consumer electronics like smartphones, tablets, and wearables, offering fast, durable, and energy-efficient storage solutions for applications, media, and data retention. For example, in May 2023, the Japan Electronics and Information Technology Industries Association, a trade organization based in Japan, reported that the total production of electronic devices in Japan amounted to $6,722 million (¥771,457 million). Additionally, the production of consumer electronics reached $280 million (¥32,099 million) in May 2023, compared to $230.9 million (¥25,268 million) in May 2022. Consequently, the increasing demand for electronic devices is expected to drive the growth of the non-volatile memory market.
Technological advancements are a significant trend gaining traction in the non-volatile memory market. Leading companies in this sector are creating new products or technologies to enhance their market position. For example, in June 2022, STMicroelectronics NV, a technology firm based in Switzerland, introduced the industry's first Serial Page EEPROM, a high-density, page-erasable SPI memory that operates with ultra-low power consumption. Beginning with the 32Mbit M95P32, this innovation offers a unique combination of firmware management and flexible data storage, which helps reduce costs while improving performance. This new memory architecture is ideal for applications such as industrial IoT, wearables, and smart meters, as it integrates ST's patented 40nm NVM technology with a smart page architecture, facilitating faster read, erase, and program cycles. As a result, it provides better power efficiency, ease of use, and reliability compared to alternatives like FRAM and serial Flash.
Leading companies in the non-volatile memory market are concentrating on developing high-performance technologies with features such as radiation and electromagnetic interference tolerance to secure a competitive edge. This technology is engineered to resist radiation and electromagnetic interference, making it suitable for critical applications in industries like aerospace and medicine. For example, in November 2022, Weebit Nano, a semiconductor IP company based in Israel, introduced its Weebit Resistive RAM (ReRAM), a non-volatile memory (NVM) intended to eventually replace flash memory. This innovative solution provides enhanced performance, improved security, reduced costs, and lower power consumption, making it ideal for companies developing systems-on-chip (SoCs). Integrated into the SkyWater 130-nm CMOS process, this high-speed NVM is tolerant to radiation and electromagnetic interference, targeting applications across the IoT, automotive, industrial, and aerospace sectors. The embedded ReRAM module includes control logic, communication elements, error-correcting code, and a customizable 256-kb ReRAM array, facilitating seamless integration with advanced EDA tools.
In February 2023, GlobalFoundries, a semiconductor manufacturer based in the US, acquired non-volatile resistive RAM (ReRAM) technology from Renesas Electronics Corporation for an undisclosed sum. This strategic acquisition is intended to bolster the company's capabilities in Internet of Things (IoT) and 5G applications. It aligns with GlobalFoundries' dedication to fostering innovation in semiconductor technologies, especially for applications that demand efficient and reliable memory solutions. Renesas Electronics Corporation, a semiconductor manufacturer located in Japan, specializes in nonvolatile memory technologies.
Major companies operating in the non-volatile memory market include Samsung Electronics Co. Ltd., Western Digital Corporation, Intel Corporation, Dell EMC, Hewlett Packard Enterprise Company, Kioxia Holdings Corporation, Micron Technology Inc., SK Hynix Inc., Microchip Technology Incorporated, ROHM Co. Ltd., Renesas Electronics Corporation, STMicroelectronics NV, Infineon Technologies AG, Nantero Inc., Crossbar Inc., Everspin Technologies Inc., Winbond Electronics Corporation, Pure Storage Inc., NetApp Inc., Seagate Technology Holdings plc, Toshiba Corporation, Huawei Technologies Co. Ltd., Fujitsu ltd., Intel Corporation, Honeywell International Inc., Maxim Integrated Products Inc., Micron technologies Inc., Avalanche Technologies Inc., Adesto Technologies Corporation, Viking Technology
North America was the largest region in the non-volatile memory express (NVMe) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non-volatile memory express (NVMe) market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the non-volatile memory express (NVMe) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The non-volatile memory express market consists of revenues earned by entities by providing solutions and services for memory storage in an organization such as simple access control, data at rest protection, and purge-level erase to improve the performance of storage devices to accelerate the transfer speed of data between enterprise and client systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Non-Volatile Memory Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on non-volatile memory market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for non-volatile memory ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The non-volatile memory market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.