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Magneto Resistive RAM (MRAM) Market - Growth, Trends, Forecasts (2020-2025)

  • ID: 5025983
  • Report
  • May 2020
  • Region: Global
  • 120 pages
  • Mordor Intelligence
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until Dec 31st 2020
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FEATURED COMPANIES

  • Avalanche Technology Inc.
  • Fujitsu Ltd.
  • Infineon Technologies AG
  • Intel Corporation
  • NVE Corporation
  • Qualcomm Incorporated
  • MORE
The Magneto Resistive RAM (MRAM) market is expected to register a CAGR of 5% over the forecast period 2020-2025.

Increasing adoption of digitalization across the industry, technological advancement of computing technologies, Internet of Things (IoT) and rapid development of smart robots across the world, and rising investment on electronic devices such as smartphones, televisions, smart wearables, computers, drones, etc will boost the market demand in the future.
  • The demand for low-cost, small-size, power-efficient random-access memory technology has grown rapidly during the last decade, in industrial, automotive, commercial, and defense systems due to the rapid implementation of computers. MRAM can resist high radiation, operate in extreme temperature conditions, and are tamper-resistant that makes them suitable for industrial and military applications.
  • An increase in investment and research to develop next-generation read access memory would open the door to new product application and fuel the growth of the market. Coughlin Associates Limited expects that stand-alone MRAM and STT-MRAM revenues will grow 170X from 2018 to 2029 (with shipments growing faster as prices continue to decrease) due to rapid adoption of artifial intelligence in very industry.
  • MRAM is also used in battery powered IoT wireless smart sensors that are applied in smart homes devices, connected cars, and e-health devices to monitor, analyze and provide real-time data. Increase adoption of IoT to enhance user experience due to advancement in 5G and connect IT devices is expected to attribute for the growth of MRAM in the future. According to the 2019 Strategy Analytics report, 38.6 billion devices will be connected by 2025, and 50 billion by 2030. Some segments (such as connected computing devices) will see low growth or decline, while others (such as media devices) will continue to expand steadily. Growth rates for wearable devices and connected vehicles will remain positive, but volumes will be modest relative to other segments.
  • MRAM technology is recent and has high design cost with electromagnetic interface problems that can hamper its growth. However, reduced boot up time, low resistance and better memory space features are expected to provide lucrative opportunities to the market.
Key Market Trends

Consumer Electronics will Experience Significant Growth
  • Consumer electronics will experience significant growth due to technological advancements, penetration of the internet of things, the emergence of 4G and 5G technologies and innovation in various devices to increase memory capacity and power efficiency. Smartphones, laptops, smart wearables, digital cameras, is expected to gain popularity due to increased disposable income and the adoption of smart devices.
  • Global adoption of smartphones has impelled manufacturers to develop advanced RAM that could reduce the boot up time and enhance the memory space to offer high performance. It has increased the number of key players over the period of time to develop and mass-produce the MRAM either in standalone or embedded design to gain the future market.
  • For instance, in 2019, Samsung has started the mass production of its first commercial embedded magnetic random access memory. As eMRAM does not require an erase cycle before writing data, it is 1,000 times faster than eFlash with lower voltage that promises its implementation in an upcoming smartphone.
  • According to report, among established and emerging embedded memory technologies, STT MRAM is promising as it offers a combination of persistence, low power consumption, high speed and high endurance which is ideal for low-power microcontrollers, wearables, and gaming and IoT devices.
North America to Hold a Significant Market Share
  • North America is expected to experience growth of the magneto resistive RAM market during the forecast period. Large as well as small and medium enterprises are moving toward cloud-based services to reduce the costs related to technology infrastructure and to streamline operations. This contemporary shift is boosting the growth of data centers with lower power consumption and impelling the implementation of MRAM as it does not require refreshing and also allow low power states. For instance, Northern Virginia, the world’s largest data center market by a large margin, has planned nearly 15-meter square foot space for the construction of the data center according to the CBRE Q1 2019 report.
  • As MRAM technology is robust and reliable over extreme temperature ranges is experiencing an increase in demand in automotive for memory products. The Cox Automotive and LMC Automotive have predicted that in 2020 United States would register automotive sales of USD 16.7 million that represents the positive growth opportunity for the MRAM market. Moreover, Everspin has provided 4Mb MRAM chip (MR2A16AMYS35) to BMV for their superbike and is used in variety of automotive applications such as engine control units, advanced transmission control, in-car data log and multimedia systems for in-car entertainment.
  • MRAM technology is also implemented to medical devices to provide next generation sensors with higher sensitivity, accuracy and noise-reduction. These sensors are used for non-invasive diagnostic testing of blood, body fluids, and tissue for medical conditions including diabetes and hypoxia. Moreover, rapid adoption of IoT devices in medical devices to integrate technology for data communication, data storage, and data mining has made its way to healthcare to reduce the human errors. So, radio-frequency identification (RFID) devices are integrated with MRAM to withstand gamma radiation. As increase number of chronic disease cases in North America is fueling the growth of the market. According to a report, chronic disease are among the most prevalent and costly health conditions in the United States and nearly half (approximately 45%, or 133 million) of all Americans suffer from at least one chronic disease.
  • Further, COVID-19 pandemic has affected most of the industries across the globe but has boosted the growth of robots, drones and other automated machines to fight the disease. Outbreak has led to increase in the number of assistive robots in hospitals and testing facilities to disinfect hospitals and residential areas, monitor temperature and deliver food and medicine to the COVID -19 patients and has freed hospital medical staff from non-essential task and limited the spread of the virus. For instance, Spot, robot, helps Boston hospital healthcare worker by providing assistance to treat infected patients. Boston Dynamics has also announced to expand the use of its robots to other hospitals.
Competitive Landscape

The Magneto Resistive RAM (MRAM) market is competitive and is dominated by a few major players like Avalanche Technology Inc., NVE Corporation, Everspin Technologies Inc., Qualcomm Incorporated and Intel Corporation. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
  • April 2020 - Everspin Technologies and Global Foundries have extended the joint development agreement of Spin-transfer Torque (STT-MRAM). Both the companies have been partners on 40nm, 28nm, and 22nm STT-MRAM development and manufacturing processes and have now updated their agreement to set the terms for a future project on an advanced 12nm FinFET MRAM solution.
  • March 2020 - Fujitsu launched of a new company that combines its divisions in charge of business with local government, medical and educational institutions in Japan with Fujitsu Marketing Ltd., handles second-tier private-sector businesses and small and medium sized enterprises. It will enable Fujitsu to further expand its domestic business in the Japan services market, in which it holds the top share. The new company will launch on July 1st as a business integrator delivering high value-added services based on a robust customer base and Fujitsu's leading-edge technologies.
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FEATURED COMPANIES

  • Avalanche Technology Inc.
  • Fujitsu Ltd.
  • Infineon Technologies AG
  • Intel Corporation
  • NVE Corporation
  • Qualcomm Incorporated
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing demand for miniaturization of electronic devices
4.2.2 Increased use of MRAM in RFID tags
4.3 Market Restraints
4.3.1 High Design Cost with Electromagnetic Interface Problems
4.4 Value Chain Analysis
4.5 Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment of COVID-19 Impact on the Industry

5 MARKET SEGMENTATION
5.1 Type
5.1.1 Toggle MRAM
5.1.2 Spin-Transfer Torque MRAM
5.2 Application
5.2.1 Consumer Electronics
5.2.2 Robotics
5.2.3 Enterprise Storage
5.2.4 Automotive
5.2.5 Aerospace and Defense
5.2.6 Others
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Avalanche Technology Inc.
6.1.2 NVE Corporation
6.1.3 Qualcomm Incorporated
6.1.4 Crocus Nano Electronics LLC
6.1.5 Everspin Technologies Inc.
6.1.6 Fujitsu Ltd.
6.1.7 Hewlett Packard Enterprise Co.
6.1.8 Honeywell International Inc.
6.1.9 Infineon Technologies AG
6.1.10 Intel Corporation
6.1.11 Samsung Electronics Co. Ltd.
6.1.12 Spin Transfer Technologies
6.1.13 Toshiba Corporation

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • Avalanche Technology Inc.
  • NVE Corporation
  • Qualcomm Incorporated
  • Crocus Nano Electronics LLC
  • Everspin Technologies Inc.
  • Fujitsu Ltd.
  • Hewlett Packard Enterprise Co.
  • Honeywell International Inc.
  • Infineon Technologies AG
  • Intel Corporation
  • Samsung Electronics Co. Ltd.
  • Spin Transfer Technologies
  • Toshiba Corporation
Note: Product cover images may vary from those shown
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