Global Memristor Market report published by Accurize Market Research forecast that the global market is expected to reach $4.7 billion by 2024; growing at a CAGR of 80% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Demand for larger data storage capacity chips to drive the market
A surge in demand for larger data storage capacity chips and the problem of heat generation in devices due to higher densities are some of the major driving factors of the global memristor market. Additionally, increasing the acceptance of industrial robots is also expected to supplement the demand for compact and advanced memory. However, a lack of skilled professionals would act as a restraint for the market. Increasing consumer awareness regarding technological innovations and the capability of memristors to replace the growing number of transistors on a circuit would provide several growth opportunities for the market in the coming years.
The global memristor market is split into product, industry vertical and geography. By product type, the market is divided into molecular & ionic film memristors and spin-based & magnetic memristors. The industry vertical segment is categorized into electronics, industrial, automotive, healthcare, IT & telecommunication and aerospace & defense.
North America, Europe, Asia-Pacific and the Rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada, and Mexico. Europe covers countries like Russia, the U.K., Germany, France, Italy and the Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. The rest of the World (RoW) covers South America, Africa, and the Middle East.
"Molecular & ionic film memristor accounted for the largest market share in the product type segment", says Accurize
In the product type segment, the molecular & ionic film memristor segment accounted for more than half of the global market share in 2017. This was followed by the spin-based & magnetic memristor segment. Whereas, Electronics in the industry vertical segment dominated the industry vertical segment accounting for more than one-third of the total market revenue in 2017, driven by its increasing demand in smartphones and other electronic gadgets.
"North America dominated the global market with the highest market share over the forecast period", says Accurize
North America accounted for the largest market share of 38.7% in 2017 and is expected to continue its dominance during the forecast period. Asia-Pacific accounted for the second-largest market share of 31.2%. In terms of growth, the Rest of the World is expected to grow at the fastest CAGR of 146.8% during the forecast period 2017-2025.
Top players in the market
Major companies operating in the market include Intel Corporation, Knowm Inc., Micron Technology, Inc., Panasonic Corporation, HP Development Company, Rambus Incorporated, Samsung, SanDisk Corporation, Toshiba Corporation, and Sk Hynix Inc., L.P., among others.