New York, US, July 01, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global ReRAM Market information by Type, by End User and Region – forecast to 2025” market is expected to grow from USD 310.6 million in 2018 to USD 655 Million by 2025, at a CAGR of 16%.
ReRAM Market Scope:
ReRAM is a non-volatile memory technology comprising a memristor whose resistance varies depending on the applied voltage. It has higher memory density, faster read & write speeds, and lower power requirements. ReRAM has an exponential potential for high storage density and lower power usage. It comes at an affordable cost than flash memory because of the thinness of memristors.
Owing to its tremendous potential, ReRAM has become a part of the digital mainstream. Also, ReRAM draws much less power than NAND flash, making it best suited for sensor device memory used in industrial and automotive applications. Additionally, the growing demand for emerging non-volatile memory in connected devices fuels the resistive random access memory market growth.
Dominant Key Players on ReRAM Market Covered Are:
- Fujitsu Limited (Japan)
- Crossbar Inc. (US)
- Intel Corporation (US)
- Semiconductor Manufacturing International Corporation (China)
- Panasonic Corporation (Japan)
- SK Hynix Inc. (South Korea)
- Micron Technology Inc. (US)
- Adesto Technologies Corporation (US)
- TSMC (Taiwan)
- Reliance Memory (China)
- 4DS Memory Limited (US)
- Sony Corporation (Japan)
- Weebit Nano (Australia)
- SanDisk (US)
- Rambus Incorporated (US)
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Market USP exclusively encompassed:
Market Drivers
The global ReRAM market is growing rapidly, mainly due to the emerging non-volatile memory technologies. Over the past few years, resistive random-access memory (ReRAM) has been garnering significant market prominence due to its higher read and faster write performance. The emerging memory technology ReRAM is expected to meet future requirements for big data, AI, and neuromorphic computing.
The rising need for efficient processing of a significant amount of dense and complex data generated by artificial intelligence, HPC, and IoT devices substantiates the market growth. Additionally, the rapid adoption of ReRAM in semiconductor companies to significantly reduce the energy consumption of modern artificial intelligence and HPC systems to enhance their performance.
The ReRAM materials are fab-friendly and can easily and cost-effectively be added to the final stages of a semiconductor process. Growing efforts to explore new predictive and physics-based TCAD simulations for modeling Oxide-based ReRAM would help speed the design, fabrication, and commercial adoption of ReRAM. Therefore, the ReRAM market is growing rapidly, heading with rising uses of connected and wearable devices.
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Regional Analysis
The Asia Pacific region dominates the global ReRAM market, witnessing faster developments of memory technologies. The region has become a key investment destination for market players, permitting easy availability of memory technology products in the market. Besides, the presence of leading electronic product producers drives the region's ReRAM market share.
Additionally, the largest market share attributes to the wide consumer electronics customer base and the presence of major global industry players in this region. Government initiatives and investments to promote the development of dynamic memory modules boost the region's ReRAM market size.
North America holds the second-best position globally in terms of ReRAM market revenues. The market is led by the presence of many notable players and well-established end-user verticals in the region. Furthermore, the broad uptake of memory technologies across major applications fosters the ReRAM market size.
Besides, the increasing investments transpired in technology developments propel the regional market growth. The vast demand for reliable backup and recovery systems supports market growth in the region. The US, with rising numbers of data centers, leads the regional market, followed by Canada.
Europe is witnessing a spurring rise in the ReRAM market value. The market growth is boosted by increasing numbers of data centers, businesses, and technology upgrades in the region. Germany, France, Italy, and the UK, are major contributors to the regional market growth.
Steady economic growth is a significant tailwind behind the regional market growth. Moreover, the increasing adoption of on-premises and on-cloud database infrastructure across SMEs and larger enterprises boosts the region's resistive random access memory market.
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Segmentation of Market covered in the research:
The ReRAM market forecast is segmented into type, end-user, and regions. The type segment is sub-segmented into oxide-based ReRAM and conductive bridging RAM. The end-user segment is sub-segmented into IT & telecom, consumer electronics, aerospace & defense, healthcare, and others. The region segment is sub-segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and others.
COVID-19 Impact on the Global ReRAM Market
The onset of the COVID-19 pandemic significantly influenced the ReRAM market, while it caused major revenue losses to most industries. The rising need for rapid data processing and big data across verticals globally created several major market opportunities.
This further reset the focus on advancing and streamlining telecommunication capabilities. The pandemic also accelerated the ReRam adoption in automotive, industrial, aerospace & defense, consumer electronics, IT & telecommunication sectors. The ReRAM market is estimated to grow further significantly during the assessment period.
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Industry News
The increasingly growing demand for ReRAM memory technology for a number of applications is a major trend positively impacting the market rise. Besides, the advent of artificial intelligence, high-performance computing (HPC), and IoT devices drives the ReRam market growth, generating a significant amount of dense and complex data. Increasing uses of ReRAM in applications such as solid-state drives (SSDs) and non-volatile dual in-line memory modules (NVDIMMs) influence the market growth.
However, ReRAM memories rely on complicated switching mechanisms and exotic materials, taking longer to develop. Also, the availability of alternatives like DRAM and flash is another key growth impeding factor for the market, making it difficult for the ReRAM to get a foothold in the market.
Semiconductor companies are increasingly adopting innovative ReRAM memory technologies to process this data efficiently while dealing with artificial intelligence and HPC requirements. ReRAM can significantly reduce the energy consumption of modern systems while enhancing performance. The rising need for high bandwidth, low power consumption, and highly scalable memory devices for AI, IoT, and big data boost ReRAM market size.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.