NOR Flash Memory Market - Forecasts from 2019 to 2024

The global NOR flash memory market is projected to grow at a CAGR of 3.32%, to reach a market size of US$2,327.870 million in 2024, from US$1,913.406 million in 2018. The global NOR flash memory market is estimated to grow on account of rising demand for consumer electronics and communication devices. Furthermore, the increasing penetration of electronics in automotive and automation of industrial applications is further projected to enhance the market growth in the coming years. However, the cyclical nature of the semiconductor industry and the availability of substitutes is projected to hinder the global NOR flash memory market in the coming years. Geographically, Asia Pacific is projected to dominate the market over the coming years on account of rapidly expanding semiconductor manufacturing in the region.

Drivers

Rising demand for communication devices and consumer electronics
Increasing applications of electronics in the automotive and industrial sectors

Restraints

Availability of substitutes

Industry Updates

In August 2019, Winbond Electronics announced that their SpiStack dual-die NOR+NAND code storage product has been included on NXP’s FRWY-LS1012A board to be used with the company’s Layerscape LS1012A communications processor.

In June 2018, Cypress Semiconductor unveiled their new Semper NOR flash memory family designed for automotive and industrial applications, with emphasis on safety and reliability.

The major players profiled in the NOR Flash Memory market include Cypress Semiconductor Corporation, Macronix International Co., Ltd., Micron Technology, Inc., GigaDevice, and Winbond among others.

Segmentation

The NOR flash memory market has been analyzed through the following segments:

By Type

Serial NOR Flash
Parallel NOR Flash

By End-User Industry

Communication
Consumer Electronics
Automotive
Manufacturing

By Geography

North America
South America
Europe
Middle East and Africa
Asia Pacific