Global MRAM Market 2018-2022
MRAM is a type of nonvolatile memory, which uses magnetic charge to store data. The primary advantage of MRAM is that it retains data when power is turned off. MRAM requires only a small amount of electricity to be able to store data bits.
Technavio’s analysts forecast the global MRAM market to grow at a CAGR of 44.63% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global MRAM market for 2018-2022. To calculate the market size, the report considers the number of unit shipments of MRAM.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global MRAM Market 2018-2022
Technavio recognizes the following companies as the key players in the global MRAM market: Avalanche Technology, Everspin Technologies, and Crocus Nanoelectronics.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Integration of MRAM in smartphone market. In the forecast period, MRAM will be integrated into the smartphones because of the following advantages: MRAM technology retains its data when the power is removed, MRAM offers a higher read write speed compared with other technologies such as flash and EEPROM, MRAM data does not degrade over time and MRAM consumes a comparatively low level of power”
According to the report, one of the major drivers for this market is Low-power consumption. MRAM technologies are mostly used in battery-powered wireless sensors, as they consume almost 50% less power than other flash memories. This increases the battery life to a great extent. Moreover, the low-power consumption also provides the OEMs to integrate MRAM technology into the devices. Furthermore, MRAM module has unique features such as faster access time and non-volatile data storage compared with other memory technologies. This gives MRAM technology an additional benefit over other RAMs, along with the lower-power consumption factor.
Further, the report states that one of the major factors hindering the growth of this market is Memory density issue. The common memory density for MRAM is 256 kb, 1 Mb, and 4 Mb to 16 Mb. As of 2017, the largest MRAM chip is 256 Mb. However, the storage devices such as data servers and cloud-based devices require more than 1Gb storage to store data. The density of the memory module is very less, and thus the OEMs are not adopting the MRAM module. This decreases the adoption and sales of the MRAM modules. Therefore, vendors such as Everspin Technologies are working to improve the density of the MRAM module. In November 2016, Everspin Technologies announced that it would display industry’s first 1Gb STT MRAM designed with its pMTJ, which is being processed by GlobalFoundries. Also, by 2018, Everspin Technologies is expected to launch 1Gb MRAM chip.
Avalanche Technology, Everspin Technologies, and Crocus Nanoelectronics.
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