Global Magneto Resistive RAM (MRAM) Market is expected to reach $807 Million by 2024 from $52 Million in 2016, growing at a CAGR of 40.9% from 2016 to 2024. By geography, Asia Pacific and North America are expected to grow at a CAGR of 42.0% and 41.6%, respectively, during the forecast period. Magneto Resistive RAM (MRAM) is a non-volatile RAM memory technology, which uses magnetic properties to store data. MRAM backs up data even if the power goes off and needs only a small amount of electricity to store data
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The major driving factor for global MRAM market is increasing demand for wearable and flexible electronics from rising economies. Also, the key factors driving the global MRAM market are characteristics such as high reading and writing capacity, high speed, high endurance, and less electricity consumption.
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The global MRAM market is segmented on the product, application, and geography. The product segment is further bifurcated into toggle magneto resistive RAM, and second generation magneto resistive RAM (SST MRAM). Application segment is bifurcated into automotive, robotics, aerospace & defense, enterprise storage, consumer electronics, and others. Enterprise storage application accounted for the highest share follower by automotive application, in the year 2016.
By geography the MRAM market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). In global MRAM market, Asia-Pacific is the fastest growing region owing to increasing demand for wearable and flexible electronics, high penetration of internet and usage of IOT. Also in the year 2016, Asia-Pacific dominated the market with the highest share followed by North America.
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The key players of MRAM market includes Intel Corp., Samsung Electronics Co. Ltd., Hewlett-Packard Enterprise, Avalanche Technologies, Everspin Technologies Inc., Nippon Electric Company Ltd., Honeywell International Inv., NVE Corporation, Toshiba, Infineon Technologies, and NXP Semiconductors, among others.
Scope of Magneto Resistive RAM (MRAM) Market
Product Segments
• Toggle Magneto Resistive RAM
• Second-Generation Magneto Resistive RAM (STT MRAM)
Application Segments
• Automotive
• Enterprise Storage
• Consumer Electronics
• Robotics
• Aerospace & Defense
• Others
Geography Segments
• North America
o US
o Canada
o Mexico
• Europe
o United Kingdom
o Germany
o France
o Italy
o Others
• Asia-Pacific
o China
o Japan
o India
o Others
• RoW
o South America
o Middle East
o Africa
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