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Venkat Reddy
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Growing Automotive Sector of APAC is Augmenting the Demand for Non-Volatile Memory Market
The global Non-Volatile Memory Market achieved a value of $52.5 billion in 2018, and the market is expected to grow at a CAGR of 9.3%, during 2019-2025., 10/15/2019 - In the ever-growing digital era, megatrends such as cloud computing, IoT devices, big data, artificial intelligence, robotics, and mobile communications need cutting-edge memory technologies to facilitate their innovations. This demand from the digital applications and high computing services is endlessly triggering the growth of robust technologies to evolve in the non-volatile memory market. Additionally, these emerging digital solutions are inclined towards low power and data-centric applications, which is creating vast opportunities for the non-volatile memory (NVM). These opportunities are driving technologies that provide high-performance and low-cost NVM solutions. Along with that, simplified memory hierarchy is introduced in the architecture of non-volatile memory devices to reduce system power, which is driving the digital communications market. As a result, the global Non-Volatile Memory Market achieved a value of $52.5 billion in 2018, and the market is expected to grow at a CAGR of 9.3%, during 2019-2025.

Cloud and Data Storage for Enterprises Uplifting the Demand in the Non-Volatile Memory Market

Though embedded NVM solutions are popularly known in the market, the demand for the standalone applications of NVM technologies is proliferating at present-day because of the rising cloud-based data storage technologies. Today, enterprises, big and small, are embracing the multi-cloud and hybrid data-center environments. In any environment, hardware technology works much faster than the software application. So, the demand to promptly access the data that is stored in public clouds and on-premises is amplifying and is resulting in the advanced NVM solutions such as flash and NVM Express protocol.

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Consumer Electronics to Be Most Lucrative In the Non-Volatile Memory Market

Consumer electronics is the fastest-growing segment in the non-volatile memory market and is accelerating at a CAGR of 12.3%, during the forecast period. Si-based electronics widely use nonvolatile memory technologies. Flash memory of NVM technology is popular among consumer electronics such as cell phones and music players. Besides these emerging NVM technologies promise to store more data at low costs, unlike silicon chips. Therefore, these find vast opportunities, which are effectively implemented by the electronics industry.

Key Players Perspective in the Global Non-Volatile Memory Market

The core companies operating with a significant share in the global non-volatile memory industry are Samsung Electronics Co., Ltd. (South Korea), Toshiba Corp. (Japan), Micron Technology, Inc. (U.S.), SK Hynix, Inc. (South Korea), and Western Digital Corp. (U.S.). Recent developments such as expansions, acquisitions, new product launches, and partnerships are increasing the revenue of these significant stakeholders non-volatile memory industry.

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