Magneto Resistive RAM Market Expected to Expand at Whopping 44

Magneto Resistive RAM Market Expected to
Expand at Whopping 44.20% CAGR between
2016 and 2024
Global Magneto Resistive RAM (MRAM) Market: Snapshot
On account of the rising demand for fast, scalable, low power
consuming, and non-volatile memory devices, especially in the
automotive, enterprise storage, and aerospace and defense sectors, the
global market for magneto resistive RAM (MRAM) is likely to gain
significant impetus over the forthcoming years.
In 2015, the worldwide MRAM market stood at US$41.2 mn. Supported
by the infinite cycling endurance and high speed reading/writing
capabilities of MRAM, the opportunity in this market is likely to expand
at a CAGR of 44.10% between 2016 and 2024 and reach a value of
US$869.7 mn by 2024.
Enterprise Storage Sector to Report Strong Demand for MRAM
The enterprise storage, consumer electronics, automotive, robotics,
aerospace and defense sectors have emerged as the key application
areas of MRAM. Among these, MRAM finds the most prominent
application in the enterprise storage sector. In enterprise storage
solutions, the deployment of MRAM improves the networking and data
center fault recovery systems, reducing the overall system downtime to
a great extent, and eventually, decreasing the total operational cost.
Over the coming years, this factor is likely to add significantly to the
popularity of MRAM and will lead to a remarkable increase in their
demand in the enterprise storage sector.
Nowadays, several consumer electronics applications utilize
technologically advanced memory devices in a bid to gain reliability,
ensure data integrity, and enable low energy consumption, which in
turn, is anticipated to create lucrative opportunities for the global
market for MRAM in the coming years.
Asia Pacific to Remain Leading Contributor to Global MRAM Market
On the geographical front, Asia Pacific has surfaced as the leading
contributor to the global MRAM market. The ongoing development of
the data center infrastructure in this region, thanks to the rising
penetration of internet and the robust usage of cloud computing, is
acting at the key driving factor behind the growth of the Asia Pacific
MRAM market. Researchers expect this regional market to remain
dominant over the forecast period.
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North America emerged second in the global market for MARM in
2015. Supported by a strong concentration of key vendors and the rise
in research and development activities, the North America market for
MRAM is likely to retain its position during the period of forecast. Apart
from this, the growing need to curtail data consumption, together with
the increasing number of computationally intensive applications, is
projected to boost the demand for fast and highly scalable memory
solutions in North America, which is anticipated to create attractive
growth opportunities for MRAM manufacturers over the next few
years. On the other hand, Europe is likely to experience a moderate
demand for MRAM devices in the near future.
NVE Corp., Hewlett-Packard Enterprise, Avalanche Technology Inc.,
Everspin Technologies Inc., Honeywell International Inc., Spin Transfer
Technologies, Toshiba, Samsung Electronics Co. Ltd., and Intel Corp. are
some of the leading vendors of MRAM across the world. The leading
players in this market are investing heavily for the development of
technologically advanced MRAM and are expected to focus on product
innovation in the coming years.
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Magneto Resistive RAM Market Expected to Expand at Whopping 44.20% CAGR between 2016 and 2024

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