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MRAM Market Trends and Forecast
The future of the magneto resistive RAM (MRAM) market looks promising with opportunities in the consumer electronics, robotics, automotive, enterprise storage, and aerospace and defense industries. The global MRAM market is expected to reach an estimated $7.1 billion by 2027 with a CAGR of 22% from 2021 to 2027. The major drivers for this market are increasing demand for wearable devices, high adoption of IoT devices, advancement in computing technology, need for higher memory space, and reduction in boot up time.
Emerging Trends in the MRAM Market
Emerging trend, which has a direct impact on the dynamics of the MRAM industry, includes reduction in size of the chip area of STT-MRAMs.
A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the MRAM market report, please download the report brochure.
MRAM Market by Segment
The study includes a forecast for the global MRAM market by type, end use industry, and region as follows:
MRAM Market by Type [$M shipment analysis for 2016 – 2027]:
MRAM Market by End Use Industry [$M shipment analysis for 2016 – 2027]:
Aerospace and Defense
MRAM Market by Region [$M shipment analysis for 2016 – 2027]:
The Rest of the World
List of MRAM Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies MRAM companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the MRAM companies profiled in this report includes.
MRAM Market Insight
Lucintel forecasts that enterprise storage will remain the largest end use industry during the forecast period due to reduction in the system down time, enhancement in data recovery, and lowering of overall cost of operation.
STT-MRAM will remain the largest segment due to growing preference for fast, efficient, highly scalable, and non-volatile memory devices in several end-use industries.
North America will remain the largest region over the forecast period, supported by increasing demand for advanced data storage technologies, shift towards cloud-based services, and presence of various key players in the region.
Features of MRAM Market
Market Size Estimates: MRAM market size estimation in terms of value ($B)
Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
Segmentation Analysis: Market size by type and end use industry.
Regional Analysis: MRAM market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, end use industry, and regions for the MRAM market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape for the MRAM market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
Q1. What is the MRAM market size?
Answer: The global MRAM market is expected to reach an estimated $7.1 billion by 2027
Q2. What is the growth forecast for MRAM market?
Answer: The MRAM market is expected to grow at a CAGR of 22% from 2021 to 2027.
Q3. What are the major drivers influencing the growth of the MRAM market?
Answer: The major drivers for this market are increasing demand for wearable devices, high adoption of IoT devices, advancement in computing technology, need for higher memory space, and reduction in boot up time.
Q4. What are the major applications or end use industries for MRAM?
Answer: Enterprise storage and consumer electronics are the major end use industries for MRAM.
Q5. What are the emerging trends in MRAM market?
Answer: Emerging trend, which has a direct impact on the dynamics of the MRAM industry, includes reduction in size of the chip area of STT-MRAMs.
Q6. Who are the key MRAM companies?
Answer: Some of the key MRAM companies are as follows:
Q7. Which MRAM product segment will be the largest in future?
Answer: Lucintel forecasts that STT-MRAM will remain the largest segment due to growing preference for fast, efficient, highly scalable, and non-volatile memory devices in several end-use industries.
Q8. In MRAM market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to remain the largest region and witness the highest growth over next 5 years
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high growth opportunities for the global MRAM market by type (toggle MRAM and STT-MRAM), end use industry (consumer electronics, robotics, automotive, enterprise storage, aerospace and defense, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?