The global Electrically Erasable Programmable Read Only Memory Market is estimated to be valued at US$780 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Electrically Erasable Programmable Read-Only Memory (EEPROM) is a type of non-volatile memory that can be erased and reprogrammed electronically. EEPROMs are commonly used in embedded systems, networking systems and other applications where non-volatile data storage is required. As compared to other non-volatile memories, EEPROMs have faster erase/write times and higher endurance.
Market key trends:
One of the key trends in the EEPROM market is the growing demand for flash memory. Advancements in flash memory technologies such as Single Level Cell (SLC), Multi-Level Cell (MLC) and Triple-Level Cell (TLC) have increased storage density and reduced cost-per-bit of flash memory. The density of flash memory chips has increased from 32Mb to 1Gb and beyond. Majority of portable devices such as USB drives, memory cards and solid state drives now use flash memory owing to its high density, fast read and write capability as compared to older storage technologies. Increased adoption of flash memory across consumer electronics is expected to fuel the demand for EEPROM over the forecast period.
Segment Analysis
The Electrically Erasable Programmable Read Only Memory (EEPROM) market is segmented on the basis of type, application and geography. By type, the EEPROM market is dominated by the flash memory sub-segment which held around 60% of the total market share in 2023. Flash memory is widely used in applications such as memory cards, USB flash drives and solid state devices, owing to its high storage capacity, durability, flexibility, low power consumption and resistance to physical shock. By application, the communication equipment sub-segment led the EEPROM market and accounted for over 30% share of the total demand. Rising adoption of smartphones, laptops and other consumer electronic devices propels this segment’s growth.
Key Takeaways
The global Electrically Erasable Programmable Read Only Memory market is expected to witness high growth, exhibiting a CAGR of 4.0% over the forecast period, due to increasing demand for data storage devices across industries.
Regional analysis indicates that Asia Pacific dominates the global EEPROM market with around 40% share in 2023. Rising electronics manufacturing activities along with high demand for consumer electronics from developing countries such as China and India drives the regional market. North America is the second largest region for EEPROM market supported by rapid adoption of new technologies.
Key players operating in the EEPROM market are Atmel Corporation, Hitachi, Ltd., Infineon Technologies AG, Intersil, Linear Technology Corporation, Macronix International, Maxwell Technologies, Microchip Technology, Mitsubishi Electric Corporation, NXP Semiconductors N.V., ON Semiconductor, Renesas Electronics Corporation, ROHM Semiconductor, Samsung Electronics, Seiko Instruments Inc., STMicroelectronics, and Winbond Electronics Corporation. Key players are focusing on new product launches, partnerships and mergers & acquisitions to gain a competitive advantage in the market.
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