Emphasis on Type (1MB, 4 MB, 8 MB, 32 MB, and Others); End-Use Industry (Information and Communication Technology, Automotive, Consumer Electronics, and Others); and Region/Country
The Serial NOR Flash Market is expected to grow at a strong CAGR of around 4% owing to the rapidly increasing number of smartphones, medical instruments, and the growing use of connected devices. Serial NOR flash is also known as SPI NOR, where SPI stands for “Serial Peripheral Interface”. It has sectors and pages, where sectors are larger than pages. A sector is a block of memory whose contents can be erased at a time while the data is written on the pages. Moreover, the incorporation of advanced features in automobiles such as internet of things (IoT) compatibilities, advanced driver assistance systems (ADAS), automatic cruise controllers, expansion of the automotive and electronics sectors, the growing investment of governments in chip manufacturing, and rapidly increasing global semiconductor market size further influence the market. For instance, according to the World Semiconductor Trade Statistics (WSTS), the overall global semiconductor market was valued at USD 553 Bn in 2021, up from USD 440 Bn in 2020, an increase of over 25%.
Some of the major players operating in the market include Micron Technology Inc., Infineon Technologies AG, Winbond, Microchip Technology Inc., Alliance Memory, Macronix International Co. Ltd., Renesas Electronics Corporation, STMicroelectronics, Mouser Electronics Inc., and Intel Corporation. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, the 32 MB segment held a prominent share of the market in 2020”
Based on type, the market is segmented into 1 MB, 4 MB, 8 MB, 32 MB, and others. The 32 MB segment catered to a significant share of the market in 2020. This is mainly due to the various features of 32 MB such as continuous read of entire memory via a single command, flexible to fit application, 64-byte, user-lockable, one-time programmable (OTP) dedicated area, write protection, more than 20 years data retention, minimum 100,000 ERASE cycles per sector, and erase capability. Moreover, the increasing production of serial NOR flash memory devices is further contributing to the growth of this segment. For instance, in 2021 Macronix International began volume production of the industry’s first high-speed 1.2V serial NOR flash memory device. These high-speed, ultra-low-power (ULP) serial NOR flash memories target Internet of Things (IoT) designs, wireless communication technologies such as 5G, WiFi, and narrowband IoT systems, handheld and Bluetooth devices, and consumer applications.
“Amongst end-user industry, information and communication technology segment held a significant share of the market in 2020”
By end-user industry, the market is classified into information and communication technology, automotive, consumer electronics, and others. The information and communication technology segment held a prominent share of the market in 2020 and is expected to grow at a strong CAGR during the forecast period owing to the rising demand for semiconductor chips and the growing use and market sizes of electronic gadgets such as mobile phones, scientific instruments, and medical devices. For instance, according to the Department of Pharmaceuticals of India, the medical devices industry in India is poised for significant growth with the market size expected to reach USD 50 Bn by 2030.
“North America held a notable share of the market in 2020”
North America captured a commendable share of the market in 2020. The region’s large share can be attributed to the growing investment of the key market players in the semiconductor industry for the research and development of semiconductor devices. Additionally, the presence of a large semiconductor and chip industry is also contributing to the growth of the market. For instance, the United States semiconductor companies invested about a fifth of their annual revenue in R&D in 2021, reaching a record USD 50.2 Bn.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Serial Nor Flash Market Covid-19 Impact
6. Global Serial Nor Flash Market Revenue, 2020-2028f
7. Market Insights By Type
8. Market Insights By End-use Industry
9. Market Insights By Region
10. Serial Nor Flash Market Dynamics
11. Serial Nor Flash Market Opportunities
12. Serial Nor Flash Market Trends
13. Demand And Supply-side Analysis
14. Value Chain Analysis
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Research Methodology for the Serial NOR Flash Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global serial NOR flash market were the three major steps undertaken to create and analyze the adoption of serial NOR flash in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global serial NOR flash market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the serial NOR flash market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the serial NOR flash market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and end-use industry. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the serial NOR flash market. Further, we conducted factor analysis using dependent and independent variables such as type and end-use industry of the serial NOR flash market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the serial NOR flash market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global serial NOR flash market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global serial NOR flash market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type and end-user industry in the global serial NOR flash market.
The main objective of the Global Serial NOR Flash Market Study
The current & future market trends of the global serial NOR flash market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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