Magnetoresistive random-access memory (MRAM) Market is a type of non-volatile random access memory that uses magnetic charges to store data instead of electric charges. One of the key advantages of MRAM technology is its low power consumption, as it does not require power to retain stored data like many other memory technologies.
The global market for MRAM is expected to experience significant growth over the forecast period, driven by increasing demand from the consumer electronics and robotics sectors. MRAM's non-vulnerability to atmospheric radiation, data reliability, easy integration with CMOS modules, and high bandwidth cache are some of the key factors driving demand for this technology.
The need for computing electronics devices that reduce boot-up time is expected to be a major driver for the market. MRAM products offer more space for primary memory, which is increasingly important in the current IT environment that has a growing need for devices with added memory space. The substantial surge in demand for wearable electronics is also driving the demand for MRAM products.
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Spin-transfer torque MRAM (STT-MRAM) has been gaining popularity in recent years due to its low power consumption and high memory density. Compared to traditional electrically induced MRAMs, STT-MRAMs use less power to switch between memory states, which makes them more energy-efficient. Additionally, STT-MRAMs can be produced in smaller sizes, which allows for more memory density in devices that use them.
This has led to a larger market share for STT-MRAM in 2019, as compared to other types of MRAMs such as Toggle MRAM. With advancements in technology, it is expected that the demand for STT-MRAM will continue to grow, particularly in the consumer electronics and automotive industries where low power consumption and high memory density are important factors.
Top 10 Companies Operating in the Global Keyword Market:
Honeywell International, Inc., Avalanche Technology, Inc., Intel Corporation, Everspin Technologies, Inc., NVE Corporation, Toshiba Corporation, Qualcomm, Inc., Spin Transfer Technologies, Samsung Electronics Co. Ltd., and Crocus Nano Electronics LLC, among others.
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The global market is further segmented into type and application:
Product Type Outlook (Revenue, USD Million; 2017-2027)
- Spin-Transfer Torque MRAM (STT-MRAM)
- Toggle MRAM
Application (Revenue, USD Million; 2017-2027)
- Consumer Electronics
- Robotics
- Automotive
- Enterprise Storage
- Aerospace & Defense
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- The demand for computing electronics devices that reduce boot up time is a major driving factor for the MRAM market.
- MRAM products provide more space for primary memory, which is increasingly important in the IT environment.
- The overall IT environment is experiencing an increasing requirement for devices that give added memory space, which is expected to boost the growth of the MRAM market in the upcoming years.
- The substantial surge in demand for wearable electronics is fueling the demand for MRAM products.
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