Global Magneto Resistive RAM (MRAM) Market to Reach $17.5 Billion by 2030
The global market for Magneto Resistive RAM (MRAM) estimated at US$2 Billion in the year 2023, is expected to reach US$17.5 Billion by 2030, growing at a CAGR of 31% over the analysis period 2023-2030. Enterprise Storage application, one of the segments analyzed in the report, is expected to record a 34% CAGR and reach US$6.7 Billion by the end of the analysis period. Growth in the Consumer Electronics application segment is estimated at 30.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $693.9 Million, While China is Forecast to Grow at 38.8% CAGR
The Magneto Resistive RAM (MRAM) market in the U.S. is estimated at US$693.9 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.5 Billion by the year 2030 trailing a CAGR of 38.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.9% and 26.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 29.4% CAGR.
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What to Expect from the Global Economy in 2024
Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.
Select Competitors (Total 25 Featured) -
Avalanche Technology, Inc.
Crocus Nano Electronics, LLC
Everspin Technologies, Inc.
Honeywell International, Inc.
Numem
NVE Corporation
Samsung Electronics Co., Ltd.
Toshiba Corporation
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
An Introduction to Magneto Resistive RAM (MRAM)
Operation of MRAM
Structure and Fabrication of MRAM
Critical Characteristics of MRAM
Types of MRAM
Global Economic Update
Evolving Capabilities Present MRAM as a Promising Memory Technology of the Future
Enterprise Storage: The Leading Application Market
Developed Economies Lead, Developing Economies Poised for High Growth
Competition
Magneto Resistive RAM (MRAM) - Global Key Competitors Percentage Market Share in 2023 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Emergence of Next Generation Memory Technologies to Support Growth of MRAM Market
Global Non-Volatile Memory Market Size (in US$ Billion) for the Years 2022, 2024, 2026 and 2028
MRAM Memory: From Storage to Data Processing
MRAM Set to Emerge as Persistent Memory for Numerous Applications
Low-Power Consumption Benefit of MRAM
MRAM: Looming Memory Technology Bonanza with Vibrant Options & Applications
STT-MRAM: Promising Alternative to SRAM Cache Memory
SOT-MRAM: Combining Speed, Reliability & Energy Efficiency
VCMA-MRAM: Reducing Energy Consumption
VG-SOT: A Power-Packed Performance
Analog In-Memory Computing with SOT-MRAM
MRAM Moves into Embedded Space
Increasing Competitiveness of Embedded MRAM (eMRAM) with Other Memory Technologies: Price in $/Gb by Memory Type for the Years 2018, 2022, and 2026
eMRAM Holds an Edge Over Other Memory Technologies: Comparing Power, Performance, Area, and Availability of SRAM, eMRAM, eFLASH, PCM, RRAM, and FeFET
eMRAM Innovations Enabling Low Power SoCs for Advanced Process Nodes
The Many Benefits of eMRAM
How Embedded MRAMs Can Play a Key Role in Designing of Future Advanced-Node SoCs
Second Generation STT-MRAM to Grab Growing Share of MRAM Market
STT-MRAM Finally Comes to Market Replacing Embedded NOR Flash
STT-RAM to Emerge as a Potential Leading Memory Type in the Embedded Emerging NVM Market
Emerging Non-Volatile Memory (NVM) Market: Percentage Breakdown of Revenues in Standalone and Embedded Memory Segments by RRAM, STT-MRAM and PCM
Monitoring Critical Process Steps for STT-MRAM Integration in Advanced CMOS Technologies
Challenges Confronting Fabrication and Testing of STT-RAM
Potential for MRAM to Replace SRAM and DRAM
Spin-Orbit Torque (SOT)-MRAM - The Latest Generation MRAM
Growing Memory Requirements of Data Centers to Propel MRAM Market
Data Centers Continue to Gain Importance, Presenting Opportunities for MRAM Market
Global Data Centers Market (in US$ Billion) for the Years 2020, 2022, 2024 and 2026
Data Center IP Traffic Growth: Global Data Center IP Traffic in Zettabytes for the Years 2016, 2018, 2020 & 2022
Power, Cost, and Time Saving Advantages of STT-MRAM to Drive Adoption in Hyperscale Data Centers
Number of Hyperscale Data Centers Worldwide (in Units) for the Period 2015-2021
Rising Computing Needs of Consumer Electronic Devices: Opportunity for MRAM Market
Global Electrical & Electronics Equipment Market Growth Outlook (In %) For Years 2019 Through 2025
IoT Trends to Propel Demand for MRAM
Embedded MRAM Emerges as a Promising Technology for IoT Devices, Artificial Intelligence and Machine Learning
MRAM Opportunity in IoT Space: Global M2M/IoT Connections (In Billion) for Years 2019, 2021 and 2023
Rapidly Growing AI/ML Market Presents Growth Opportunities for MRAM Adoption: Global Deep Learning Chipset Market Revenues in US$ Billion for the Years 2019, 2022, and 2025
Growing Need for Energy-Efficient Storage Solutions Gives Impetus to MRAM Market
Installed Base of Data Storage Capacity (in Zettabytes) for 2019, 2020, and 2024
MRAM Emerges as a Possible Option for Post-Flash Solid-State Storage
MRAM Evolves as the Next Stage for Solid State Storage
Toggle MRAM Preps for 5G Revolution
Edge Computing to Drive Demand for MRAM
Quad MTJ with STT-MRAM Technology to Enable Advanced Edge Devices for Emerging Applications
MRAM Improving Edge Computing Efficiency
Rising Use of MRAM in Automotive Industry
MRAM Emerges as a Memory Solution for Intelligent and Connected Automobiles
Need for Radiation-Hardened ICs Hold Potential for MRAM in Satellites and Spacecrafts
High-Capacity, Fast & High-Endurance MRAM to Shift Boundaries of Space Applications
Why MRAM is a Promising Bet for Space Applications?
High Resistance to Radiation Makes STT-MRAM Perfect for Space Applications
Avalanche Technology Develops New High Density Space-grade MRAMs in Partnership with Protec GmbH for the European Space Community
Advancements in MRAM Augurs Well for the Market
Samsung's MRAM-Based-in-Memory Computing
Energy Efficient MRAM Developed by a South Korean Research Team
Tohoku University Research Team Develops High Speed SOT Magneto Resistive RAM
Researchers at NTHU Manipulates MRAM by Working with the Electron Spin
IBM Developing STT-MRAM Technology
Research Focus on Using Antiferromagnets for MRAM Catches Pace
Advances in Spin-Transfer-Torque MRAM
Focus on Domain-Wall Devices
Select Startups Set to Scale up Computer Memory with Promising MRAM Solutions
EU Companies: Potential Game Changers in the Global Memory Business with their MRAM Inventions and Pilot Lines?
ReRAM Exudes Potential to Emerges as Next Wave of Memory Technology
Testing Becomes Important for a Good MRAM Memory
Challenges Confronting Making and Testing of STT-MRAM
4. GLOBAL MARKET PERSPECTIVE
TABLE 1: World Magneto Resistive RAM (MRAM) Market Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030
TABLE 2: World Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 3: World 7-Year Perspective for Magneto Resistive RAM (MRAM) by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2024 & 2030
TABLE 4: World Recent Past, Current & Future Analysis for Enterprise Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 5: World 7-Year Perspective for Enterprise Storage by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 6: World Recent Past, Current & Future Analysis for Consumer Electronics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 7: World 7-Year Perspective for Consumer Electronics by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 8: World Recent Past, Current & Future Analysis for Robotics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 9: World 7-Year Perspective for Robotics by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 10: World Recent Past, Current & Future Analysis for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 11: World 7-Year Perspective for Automotive by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 12: World Recent Past, Current & Future Analysis for Aerospace & Defense by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 13: World 7-Year Perspective for Aerospace & Defense by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 14: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 15: World 7-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
Magneto Resistive RAM (MRAM) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
TABLE 16: USA Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 17: USA 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030
CANADA
TABLE 18: Canada Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 19: Canada 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030
JAPAN
Magneto Resistive RAM (MRAM) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
TABLE 20: Japan Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 21: Japan 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030
CHINA
Magneto Resistive RAM (MRAM) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
TABLE 22: China Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 23: China 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030
EUROPE
Magneto Resistive RAM (MRAM) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
TABLE 24: Europe Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 25: Europe 7-Year Perspective for Magneto Resistive RAM (MRAM) by Geographic Region - Percentage Breakdown of Value Revenues for France, Germany, Italy, UK and Rest of Europe Markets for Years 2024 & 2030
TABLE 26: Europe Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 27: Europe 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030
FRANCE
Magneto Resistive RAM (MRAM) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
TABLE 28: France Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 29: France 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030
GERMANY
Magneto Resistive RAM (MRAM) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
TABLE 30: Germany Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 31: Germany 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030
ITALY
TABLE 32: Italy Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 33: Italy 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030
UNITED KINGDOM
Magneto Resistive RAM (MRAM) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
TABLE 34: UK Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 35: UK 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030
REST OF EUROPE
TABLE 36: Rest of Europe Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 37: Rest of Europe 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030
ASIA-PACIFIC
Magneto Resistive RAM (MRAM) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
TABLE 38: Asia-Pacific Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 39: Asia-Pacific 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030
REST OF WORLD
TABLE 40: Rest of World Recent Past, Current & Future Analysis for Magneto Resistive RAM (MRAM) by Application - Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 41: Rest of World 7-Year Perspective for Magneto Resistive RAM (MRAM) by Application - Percentage Breakdown of Value Revenues for Enterprise Storage, Consumer Electronics, Robotics, Automotive, Aerospace & Defense and Other Applications for the Years 2024 & 2030