The global Resistive Random Access Memory Market is estimated to be valued at US$711.5 Mn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Resistive random-access memory (ReRAM or RRAM) is a type of non-volatile random-access memory that works by changing the resistance across a dielectric solid-state material. The need for high density, low cost and low power consuming memory drives the growth of the Resistive Random Access Memory market.
Market key trends:
The integration of AI and IoT are expected to boost the Resistive Random Access Memory market size. The growing adoption of AI across various industries requires high performance computing which can be enabled with technologies like resistive random access memory providing faster read-write operation and more storage capacity. This will significantly contribute to the growth of Resistive Random Access Memory market during the forecast period.
Segment Analysis
The global resistive random access memory market is segmented by type, application and end-use industry. Based on type, the market is categorized into toggle MRAM, STT-MRAM. Among these, STT-MRAM segment dominated the market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to better scalability and lower energy consumption of STT-MRAM compared to other MRAM technologies.
Key Takeaways
The global resistive random access memory market is expected to witness high growth, exhibiting CAGR of 17.% over the forecast period 2023 to 2030, due to increasing demand for non-volatile memory solutions with unlimited read/write endurance.
Regional analysis
Asia Pacific region held the largest share in the global resistive random access memory market in 2023 and is expected to continue dominating the market during the forecast period. This is attributed to presence of numerous resistive random access memory manufacturers and strong demand from data centers and consumer electronics industries in countries such as China, India, Japan, and South Korea.
Key players
Key players operating in the resistive random access memory market are Crocus Nano Electronics LLC, Toshiba Corporation, Spin Transfer Technologies, Everspin Technologies Inc., and Avalanche Technology Inc. Crocus Nano Electronics LLC held the largest market share in 2023 owing to its broad product portfolio and strong distribution network across various regions.
