The Magneto Resistive RAM (MRAM) market is expected to register a CAGR of 62. 12% over the forecast period 2021-2026. Increasing adoption of digitalization across the industry, technological advancement of computing technologies, Internet of Things (IoT) and rapid development of smart robots across the world, and rising investment in electronic devices such as smartphones, televisions, smart wearables, computers, drones, etc.
New York, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Magneto Resistive RAM (MRAM) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06177368/?utm_source=GNW
will boost the market demand in the future.
The demand for low-cost, small-size, power-efficient random-access memory technology has grown rapidly during the last decade in industrial, automotive, commercial, and defense systems due to the rapid implementation of computers. MRAMs can resist high radiation, operate in extreme temperature conditions, and are tamper-resistant, making them suitable for industrial and military applications.
An increase in investment and research to develop next-generation read access memory would open the door to new product applications and fuel the growth of the market. Coughlin Associates Limited expects that stand-alone MRAM and STT-MRAM revenues will grow 170X from 2018 to 2029 (with shipments growing faster as prices continue to decrease) due to the rapid adoption of artificial intelligence in a very industry.
The global adoption of smartphones has urged manufacturers to develop advanced RAM to reduce boot-up time and enhance memory space to offer high performance. It has expanded the number of key players over the period to develop and mass-produce MRAM either in stand-alone or embedded design to gain the future market.
MRAM technology is recent and has a high design cost with electromagnetic interface problems that can hamper its growth. However, reduced boot-up time, low resistance, and better memory space features are expected to provide lucrative opportunities to the market.
With the increasing effects of the pandemic and global push for work-from-home trends, the demand for cloud services has pushed data center providers to expand their capacities, thereby accelerating the demand for chips and memory for data centers around the world. For instance, Micron Technology mentioned that it expects strong demand from data centers due to the increase in remote working and the increased gaming and e-commerce activity.
Key Market Trends
Consumer Electronics will Experience Significant Growth
Consumer electronics will experience significant growth due to technological advancements, penetration of the internet of things, the emergence of 4G and 5G technologies, and innovation in various devices to increase memory capacity and power efficiency. Smartphones, laptops, smart wearables, digital cameras are expected to gain popularity due to increased disposable income and the adoption of smart devices.
Global adoption of smartphones has impelled manufacturers to develop advanced RAM that could reduce the boot-up time and enhance the memory space to offer high performance. It has increased the number of key players over the period of time to develop and mass-produce the MRAM either in standalone or embedded design to gain the future market.
For instance, in recent years, Samsung has started the mass production of its first commercial embedded magnetic random access memory. As eMRAM does not require an erase cycle before writing data, it is 1,000 times faster than eFlash with lower voltage that promises its implementation in an upcoming smartphone.
According to a report, among established and emerging embedded memory technologies, STT MRAM is promising as it offers a combination of persistence, low power consumption, high speed, and high endurance, which is ideal for low-power microcontrollers wearables, and gaming and IoT devices.
North America to Hold a Significant Market Share
North America is expected to experience growth of the magneto resistive RAM market during the forecast period. Large and small, and medium enterprises are moving toward cloud-based services to reduce the costs related to technology infrastructure and streamline operations. This contemporary shift is boosting the growth of data centers with lower power consumption and impelling MRAM implementation as it does not require refreshing and allows low power states. For instance, Northern Virginia, the world’s largest data center market by a large margin, has planned nearly 15-meter square foot space for the construction of the data center, according to the CBRE Q1 2019 report.
As MRAM technology is robust and reliable over extreme temperature ranges is experiencing an increase in demand in automotive for memory products. Cox Automotive and LMC Automotive have predicted that in 2020 United States will register automotive sales of USD 16.7 million that representing the positive growth opportunity for the MRAM market. Moreover, Everspin has provided a 4Mb MRAM chip (MR2A16AMYS35) to BMV for their superbike and is used in various automotive applications such as engine control units and advanced transmission control in-car data log, and multimedia systems for in-car entertainment.
MRAM technology is also implemented in medical devices to provide next-generation sensors with higher sensitivity, accuracy, and noise reduction. These sensors are used for non-invasive diagnostic testing of blood, body fluids, and tissue for medical conditions including diabetes and hypoxia. Moreover, the rapid adoption of IoT devices in medical devices to integrate technology for data communication, data storage, and data mining has made its way to healthcare to reduce human errors. So, radio-frequency identification (RFID) devices are integrated with MRAM to withstand gamma radiation, as an increased number of chronic disease cases in North America is fueling the growth of the market. According to a report, chronic diseases are among the most prevalent and costly health conditions in the United States, and nearly half (approximately 45%, or 133 million) of all Americans suffer from at least one chronic disease.
Further, the COVID-19 pandemic has affected most of the industries across the globe but has boosted the growth of robots, drones, and other automated machines to fight the disease. The outbreak has led to an increase in the number of assistive robots in hospitals and testing facilities to disinfect hospitals and residential areas, monitor temperature, and deliver food and medicine to the COVID -19 patients and has freed hospital medical staff from the non-essential task and limited the spread of the virus. For instance, Spot, a robot, helps Boston hospital healthcare workers by providing assistance to treat infected patients. Boston Dynamics has also announced to expand the use of its robots to other hospitals.
The Magneto Resistive RAM (MRAM) market is competitive and is dominated by a few major players like Avalanche Technology Inc., NVE Corporation, Everspin Technologies Inc., Qualcomm Incorporated, and Intel Corporation. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
Sept 2021 - Avalanche Technology partnered with LinearASICs Inc. to produce companion chiplets based on Avalanche’s 1Gb Space Grade MRAM, allowing the company to offer a full range of Space Grade products with SPI and DDR interfaces. LinearASICs will offer standalone serial interface chiplets, like Octal SPI "OSPI"and standard memory interface chiplets, such as DDR.
March 2021 - Samsung expanded the application of its eMRAM solutions to more markets, such as wearable, graphic memory, low-level cache, internet of things, and edge artificial intelligence applications. The company also stated that its eMRAM is 1,000 times faster than its eFlash memory, and it does not require an erase cycle before writing data. Also, the latest MRAM of the company is 40%, claimed to be smaller than SRAM, with 30-50 ns read and write speeds.
February 2021 - Spin Memory partnered with Arm and Applied Materials to manufacture magnetic RAM (MRAM) solutions in the United States for automotive and medical equipment adoption using its Precessional Spin Current (PSC) technology, which enhances the magnetics and retention of the perpendicular magnetic tunnel junction (pMTJ).
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