Non-Volatile Memory

Global Non-Volatile Memory Market to Reach US$149.3 Billion by 2030

The global market for Non-Volatile Memory estimated at US$95.7 Billion in the year 2024, is expected to reach US$149.3 Billion by 2030, growing at a CAGR of 7.7% over the analysis period 2024-2030. Consumer Electronics, one of the segments analyzed in the report, is expected to record a 8.0% CAGR and reach US$68.4 Billion by the end of the analysis period. Growth in the Enterprise Storage segment is estimated at 8.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$26.7 Billion While China is Forecast to Grow at 7.2% CAGR

The Non-Volatile Memory market in the U.S. is estimated at US$26.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$22.9 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.1% and 6.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.4% CAGR.

Global Non-Volatile Memory Market - Key Trends & Drivers Summarized

What Is Non-Volatile Memory and Why Is It Critical in Modern Computing?
Non-volatile memory (NVM) refers to a type of memory that retains stored data even after the power is turned off, unlike volatile memory (such as DRAM). Common types of NVM include flash memory, electrically erasable programmable read-only memory (EEPROM), and emerging technologies like resistive random-access memory (ReRAM) and phase-change memory (PCM). NVM is essential for long-term data storage in a wide range of applications, from consumer electronics like smartphones and laptops to enterprise data centers, automotive systems, and industrial equipment.

The importance of non-volatile memory lies in its ability to store data permanently, making it a crucial component in devices that require reliable storage over time. NVM enables everything from booting up operating systems to preserving user data across power cycles. As digital transformation accelerates and data storage needs grow, NVM is playing a key role in ensuring fast, secure, and efficient data access in modern computing systems.

How Is the Non-Volatile Memory Market Evolving?
The non-volatile memory market is evolving due to the increasing demand for faster, more efficient storage solutions, particularly in data-heavy applications such as cloud computing, AI, and IoT. One of the key trends in the market is the development of next-generation NVM technologies, such as 3D NAND, ReRAM, and phase-change memory (PCM), which offer higher densities, faster read/write speeds, and lower power consumption compared to traditional NAND flash memory. These advanced memory solutions are gaining traction in data centers, automotive electronics, and consumer devices, as they can meet the growing performance and storage requirements of modern applications.

Another important trend is the increasing integration of NVM in edge computing and IoT devices. As data processing shifts closer to the edge, where real-time data analysis and decision-making are required, NVM provides reliable, low-latency storage for these systems. The rise of autonomous vehicles, smart homes, and connected industrial systems is further boosting demand for high-performance NVM that can store and process large amounts of data efficiently.

Which Industries Are Leading the Adoption of Non-Volatile Memory?
The data storage and computing industries are the largest adopters of non-volatile memory, using NVM extensively in solid-state drives (SSDs) and other storage solutions. NVM is critical for enterprise data centers and cloud service providers, where large volumes of data must be stored securely and accessed quickly. The automotive industry is another major user of NVM, particularly in advanced driver-assistance systems (ADAS) and infotainment systems, where reliable, long-term data storage is crucial for vehicle safety and user experience.

The consumer electronics industry, particularly smartphones, tablets, and wearable devices, also relies heavily on NVM for storing user data, apps, and operating systems. Additionally, the rise of smart devices in homes, cities, and industries is driving adoption of NVM in IoT systems, where data persistence and low power consumption are critical for the performance and longevity of connected devices.

What Are the Key Growth Drivers in the Non-Volatile Memory Market?
The growth in the non-volatile memory market is driven by the increasing demand for high-performance storage solutions in data centers, consumer electronics, and automotive systems. As data storage needs grow with the expansion of cloud computing, big data, and AI, the demand for faster, more efficient NVM solutions is rising. Another key driver is the ongoing development of next-generation NVM technologies, such as ReRAM, 3D NAND, and PCM, which offer improved performance, density, and power efficiency compared to traditional flash memory.

The expansion of the IoT and edge computing markets is also fueling demand for NVM, as these devices require low-latency, non-volatile storage to process and store data in real-time. Additionally, the increasing complexity of automotive systems, including the rise of autonomous vehicles and advanced infotainment, is boosting demand for high-reliability NVM that can store critical data securely and efficiently.

SCOPE OF STUDY:

The report analyzes the Non-Volatile Memory market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
End-Use (Consumer Electronics, Enterprise Storage, Automotive & Transportation, Military & Aerospace, Industrial, Telecommunications, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 12 Featured) -

• Adesto Technologies Corporation
• Crossbar Inc.
• Everspin Technologies Inc.
• Fujitsu Ltd.
• Intel Corporation
• Microchip Technology, Inc.
• Micron Technology, Inc.
• Nantero, Inc.
• Samsung Electronics Co., Ltd.
• SK Hynix, Inc.
• Toshiba Corporation
• Viking Technologes
• Western Digital Corporation

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

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APRIL 2025: NEGOTIATION PHASE

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