Embedded Non-Volatile Memory Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (eFlash, eE2PROM, FRAM, and Others); Application (Consumer Electronics, Automotive, Information and Communication, and Others); Region/Country.
Global Embedded Non-Volatile Memory Market is expected to grow at a significant rate of around 11% during the forecast period. Embedded non-volatile memory is a tiny chip used for data storage that is found in microcontrollers and other electronics. The data are kept for data redundancy, programming, pruning, identification, and encryption.
The growing adoption of embedded nonvolatile memory is mainly attributed to the growing demand for small memory chips. Furthermore, the high efficiency and compact design associated with eNVMs are expected to replace comparatively bulky, conventional, standalone non-volatile memories. One of its essential elements is found in IoT-based microcontroller devices. In the coming years, it is expected that the usage of embedded non-volatile memory with low power and cost would help drive down the price of consumer devices. Due to the secured layer present at the most susceptible physical layer, which cannot be cracked through passive, semi-invasive, or invasive ways, it is projected that the growing requirement for security in connected devices would open up new growth opportunities.
CrossBar Inc, Everspin Technologies Inc, Winbond, Fujitsu, eMemory Technology Inc, Microchip Technology Inc, Texas Instruments Incorporated, United Microelectronics Corporation, Hua Hong Semiconductor Limited, and Synopsys, Inc. are some of the key players in the market. 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, eFlash category to witness Largest Share in 2021”
Based on type, the market is segmented into eFlash, eE2PROM(Electrically Erasable Programmable Read-Only Memory), FRAM (Ferroelectric RAM), and others. The eFlash segment led the embedded non-volatile memory market in 2021 with the highest market share. The growth of the segment is mainly attributed to its various security features. Moreover, eFlash memories are easily re-programmable and require a fairly simple process, which makes them more accessible.
“Amongst application, the IT and communication segment are expected to hold a significant share in the market in 2021”
On the basis of application, the market is segmented into consumer electronics, automotive, information and communication, and others. The IT and communication segment led the market in 2021 and is expected to gain significant market share during the forecast period. The growing adoption of consumer electronics such as smartphones, laptops, televisions, etc, is expected to drive the market during the analysis time period. For instance, according to the business of apps, apple (a consumer electronics company) generated $365 billion in the year 2021, 52% of which came from iPhone sales.
“Asia Pacific to hold a significant share in the market”
Asia Pacific region led the market with the largest market share of the embedded non-volatile memory market in 2021 and is expected to maintain this during the forecast period. The growth in the region is mainly attributed to the growing demand for consumer electronics in the region. Furthermore, the rising industrialization in countries like India and China is expected to significantly influence market growth. Moreover, the growing number of electronics manufacturers and high migration of manufacturing units from developed economies is expected to drive the market growth during the analysis time period. For instance, according to Macrotrends, China’s production output for 2021 was USD 4,865.82B, a 26.04% increase from 2020.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global embedded non-volatile memory market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Embedded Non-Volatile Memory Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global embedded non-volatile memory market were the three major steps undertaken to create and analyze the adoption of embedded non-volatile memory 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 embedded non-volatile memory 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 embedded non-volatile memory 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 embedded non-volatile memory 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 application. 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 Embedded Non-Volatile Memory market. Further, we conducted factor analysis using dependent and independent variables such as type, and application of embedded non-volatile memory. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the embedded non-volatile memory 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 embedded non-volatile memory 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:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the embedded non-volatile memory market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global embedded non-volatile memory market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
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 embedded non-volatile memory market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, and application in the global embedded non-volatile memory market.
The main objective of the Global Embedded Non-Volatile Memory Market Study
The current & future market trends of the global embedded non-volatile memory 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:
- Analyze the current and forecast market size of the embedded non-volatile memory market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and application.
- Define and analysis of the regulatory framework for the embedded non-volatile memory
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the embedded non-volatile memory market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the embedded non-volatile memory market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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