Wilmington, Delaware, Nov. 01, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis, the Global Magneto Resistive RAM (MRAM) Market value is estimated at US$ 767.7 million in 2023 and is expected to rise at a strong CAGR of over 57.80% over the forecast period of 2023-2030.
The consulting study can help companies to:
- Identify the key growth opportunities in the market
- Make informed decisions about product development and marketing
- Develop effective strategies to compete in the market
- Know market trends and drivers
- Understand market segmentation and forecast
- Access competitive landscape
- Utilize key strategies for success
Market Definition, Market Scope, and Report Overview
Magneto-Resistive RAM (MRAM) is a non-volatile memory device that uses electron spin to align magnetic fields to store data. It combines the best characteristics of both standard RAM (Random Access Memory) and flash memory. MRAM, like flash memory, is non-volatile, which means it stores data even when the power is switched off.
The expansion of IoT devices necessitates the use of non-volatile memory systems that are both energy-efficient and dependable. MRAM's low power consumption and non-volatile nature make it ideal for IoT applications, which is pushing its acceptance in this market.
- According to a deep-dive market assessment by RationalStat, the global Magneto Resistive RAM (MRAM) market has been analyzed on the basis of market segments, including type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Magneto Resistive RAM (MRAM) market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Magneto Resistive RAM (MRAM) market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Magneto Resistive RAM (MRAM) Market: Segmental and Market Share Analysis
- On the basis of type, Spin-transfer torque MRAM segment held a considerable market share. Because of its flexibility to handle a wide range of applications, this technology is expected to remain the favored choice.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 767.7 million |
| Market Size Forecast | US$ 18,704.2 million |
| Growth Rate | 57.80% |
| Dominant Segment | Spin-transfer torque MRAM |
| Dominant Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global Magneto Resistive RAM (MRAM) market include,
- In January 2022, Samsung Electronics, a global leader in advanced semiconductor technology, presented the world's first MRAM (Magneto-resistive Random Access Memory)-based in-memory computing.
- The Samsung Advanced Institute of Technology (SAIT) conducted the study in partnership with the Samsung Electronics Foundry Business and Semiconductor R&D Centre.
Some of the prominent players and suppliers operating and contributing significantly to the global Magneto Resistive RAM (MRAM) market growth include Avalanche Technology Inc., NVE Corporation, Qualcomm Incorporated, Crocus Nano Electronics LLC, Everspin Technologies Inc., HFC Semiconductor Corporation, Tower Semiconductor, Honeywell International Inc., Infineon Technologies AG, and Intel Corporation, among others.
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RationalStat has segmented the global Magneto Resistive RAM (MRAM) market based on type, application, and region
- Global Magneto Resistive RAM (MRAM) Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Toggle MRAM
- Spin-transfer Torque MRAM
- Global Magneto Resistive RAM (MRAM) Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Consumer Electronics
- Robotics
- Enterprise Storage
- Automotive
- Aerospace and Defense
- Others
- Global Magneto Resistive RAM (MRAM) Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Magneto Resistive RAM (MRAM) Market
- US
- Canada
- Latin America Magneto Resistive RAM (MRAM) Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Magneto Resistive RAM (MRAM) Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Magneto Resistive RAM (MRAM) Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Magneto Resistive RAM (MRAM) Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Magneto Resistive RAM (MRAM) Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Magneto Resistive RAM (MRAM) Market
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Key Questions Answered in the Magneto Resistive RAM (MRAM) Report:
- What will be the market value of the global Magneto Resistive RAM (MRAM) market by 2030?
- What is the market size of the global Magneto Resistive RAM (MRAM) market?
- What are the market drivers of the global Magneto Resistive RAM (MRAM) market?
- What are the key trends in the global Magneto Resistive RAM (MRAM) market?
- Which is the leading region in the global Magneto Resistive RAM (MRAM) market?
- What are the major companies operating in the global Magneto Resistive RAM (MRAM) market?
- What are the market shares by key segments in the global Magneto Resistive RAM (MRAM) market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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