Magneto resistive RAM (MRAM) Market Research Report - Forecast till 2027

Magneto resistive RAM (MRAM) Market Research Report: Information by Product (Toggle MRAM and STT MRAM), Application (Consumer Electronics, Robotics, Automotive, Enterprise Storage, and Aerospace & Defense), and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)—Forecast till 2027

ID: MRFR/SEM/9176-CR | August 2021 | Region: Global | 99 pages

Magneto resistive RAM (MRAM) Market Overview
The Magneto resistive RAM (MRAM) Market is estimated to
register a CAGR of over 18.58% to reach USD 1396.7 million by the end of 2027.

Magne to resistive Random Access Memory (MRAM) is classified as a type of non-volatile random-access memory that can store large amounts of data in magnetic domains.It was developed in the 1980s, and proponents of the technology have propounded that MRAM will ultimately surpass competing technologies in terms of end user adoption to become the most dominant or even universal memory probably. These electronic products need flexible magnetic memory storage for the processing of data. MRAM has proven to be highly efficient in terms of performance compared to conventional NAND, having better processing speed, power efficiency, and can retain data even during power cuts.

The Magneto resistive RAM (MRAM) Market is driven by growing demand for electronic wearables and flexible electronic products over the forecast period. As wearable and flexible devices are slim and compact, their circuitry is complex and consists of various electronic components such as thousands of transistors and integrated circuits. To fit these complex components on a tiny circuit board is a tedious task, due to which tremendous research & development effortsare undertaken by companies to use MRAM, customize the integrated circuits, and reduce the size of the overall device.

The increased number of data generated from various websites, social networking platforms, and connected devices has led to the increased adoption of data center facilities for storage purposes. Earlier serial memory devices were used. These devices increased the consumption of semiconductor components used in the data centers, which is likely to increase the overall complexity of serial memory-based equipment by end users globally. Moreover, the rising demand for IoT devices has given rise to various growth opportunities for the players operating in the flash memory market segment. The development and increasing utilization of memory devices in small electronic devices such as sensors in IoT devices is also one factor that is expected to increase the demand for Magneto resistive RAM (MRAM) Market due to its high efficiency and simplicity of design.

On the other hand, MRAM has unlimited endurance and is not subjected to data loss even at high temperature operating conditions. MRAM uses electron spin to store data and offer density, speed, and non-volatility similar to DRAM, SRAM, and flash memory/disk drives, respectively. MRAM also consumes less power and is resistive to radiations absorbed from extreme temperature conditions, making it suitable for several military and aerospace applications. Thus, the displacement of less efficient memory technologies such as SRAM and flash is expected to drive the growth of the Magneto resistive RAM (MRAM) Market during the forecast period.

However, the increasing manufacturing cost of MRAM is expected to present a significant challenge for the players operating in the Magneto resistive RAM (MRAM) Market.

COVID-19 Impact Analysis

COVID-19 is creating economic hardships for enterprises, consumers, and commodity manufacturers across the globe. While several companies have maintained continuity plans meant initially for natural disasters, the other manufacturers face the threat of bankruptcy due to the declining demand from consumers, debt obligations, and declining production and revenues.

Many manufacturers are implementing cross-industry manufacturing of medical and healthcare equipment to sustain the production and overall turnover of the manufacturing unit. The worst-hit industries include oil & gas, coal products, textile, metal, and machinery.

The following parameters have been seen impacting the Magneto resistive RAM (MRAM) Market across the globe:

The severe impact on the Global Value Chains (including France and other countries across Europe) due to COVID-19 is creating challenges for the integration of the final manufactured products. Distribution challenges such as staffing of warehouses, the need for direct distribution, and intelligent and responsive allocation of goods across different distribution channels are some of the key challenges faced by the stakeholders in the supply chain. Manufacturers are focusing on Tier-1 suppliers to mitigate risks due to their ability to serve the needs in this pandemic. The demand is surpassing the limited number of available supplies to meet them, as the manufacturing process lags to meet these ever-increasing needs. Due to a supply shortage and low fabrication efficiency, the shelf life of raw materials is increasing, which is also increasing the price of raw materials. Highly fluctuating raw material costs and ineffective price management affect the company's revenue. Additional usage of electronic components in modern manufacturing impacts the consumer market due to the shutdown of production units. Even though raw materials are available in surplus amounts, due to the fabrication shortage, the manufacturers cannot manufacture the components quickly enough to keep up with the ever-increasing demand.

Supply Chain Analysis

The value chain analysis for the Magneto resistive RAM (MRAM) Market comprises five major components starting with research and development centers, material suppliers and foundries, component manufacturers, sub-system integrators, and end-use applications.

System integrators are responsible for integrating MRAM in devices such as data event recorders, battery management systems, metering devices, printers, wearable electronics, and advanced driver assistance systems.


The Magneto resistive RAM (MRAM) Market has been classified on the basis of product, application, and region.

By product, the MRAM market has been segmented into STT and Toggle. The STT segment accounted for the larger market share in 2020 and is estimated to register a CAGR of 19.35% during the review period.

MRAM Market Revenue, by Application, 2020 (USD Million)
MRAM Market Revenue by Application 2020
Sources: MRFR Analysis

Based on the application, the MRAM market has been categorized into aerospace & defense, automotive, robotics, consumer electronics, and enterprise storage. The aerospace & defense segment is expected to reach a value of USD 249.7 million by the end of 2027.

MRAM Market Share, by Region, 2020 (%)
MRAM Market Share by Region 2020
Sources: MRFR Analysis

Regional Analysis

The MRAM market has been studied across Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America accounted for the largest market share of 27.83% in 2020. The region is a significant contributor to the growth of the overall MRAM market due to the presence of major key players. These companies are leaders in providing innovative memory and storage solutions and introducing disruptive trends such as AI, machine learning, IoT, and autonomous vehicles.

Germany is expected to witness the highest growth in the European region. In Germany, the key factor driving the growth of the MRAM market is the increasing need to offer low-power, compact, and high-performance MRAM designs and components.

The Asia-Pacific regional market is experiencing rapid growth due to increasing government support to develop and manufacture memory chips. The region is a significant hub for semiconductor and electronic manufacturing industries, which further helps drive regional market growth.

The growing need for better performance and enhanced functionality in computers has increased the consumption of MRAMs in the Middle East. The education sector in the region has seen considerable growth, particularly in e-learning. This is expected to contribute to the Magneto resistive RAM (MRAM) Market growth during the forecast period.

Furthermore, the increased adoption of smartphones in Brazil, Argentina, and Colombia drives the shipment demand for MRAMs, there by boosting the growth of the South American market.

Key Players

Key players operating in the MRAM market include Toshiba Corporation (Japan), NVE Corporation (US), Everspin Technologies Inc. (US), Avalanche Technology Inc. (US), Spin Memory, Inc. (US), Honeywell International Inc. (US), Samsung Electronics Co. Ltd (South Korea), Numem Inc. (US), and Taiwan Semiconductor Manufacturing Company Limited (Taiwan).

These players compete in terms of technological advancements in the MRAM repetition rate achieved by companies. For instance, over the years, Everspin Technologies Inc., Avalanche Technology Inc, Numem Inc, NVE Corporation, Honeywell International Inc, Samsung Electronics Co. Ltd, and Spin Memory, Inc have had a significantly improved process quality, resulting in increased buyer interest and applications.

The major players would seek to strengthen their global presence through mergers and acquisitions of local and regional players; they are expected to expand their presence and solutions in those countries during the forecast period. The improvement of the global economic scenario and technological advancements by players in emerging economies such as Brazil, India, China, Singapore, Japan, the Netherlands, Sweden, and Italy are likely to fuel the over all market growth.This makes it an ideal time for players to expand their presence in the MRAM market and increase their market share.

Market Segmentation

MRAM Market, by Product

  • STT

  • Toggle

MRAM Market, by Application

  • Aerospace & Defense

  • Automotive

  • Robotics

  • Consumer Electronics

  • Enterprise Storage

MRAM Market, by Region

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • UK

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Rest of Asia-Pacific

  • Middle East & Africa

    • United Arab Emirates (UAE)

    • Saudi Arabia

    • South Africa

    • Qatar

    • Rest of the Middle East&Africa

  • South America

    • Brazil

    • Argentina

    • Rest of South America

Available Additional Customizations

  • Additional Company Profiles

Intended Audience

  • MRAM manufacturers

  • Suppliers and traders of MRAM and related products

  • Government, associations, and industrial associations

  • Investors and trade experts

Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

The market size is estimated to reach USD 1396.7 million by 2027.

The magneto resistive RAM (MRAM) market is powered by growing demand for electronic wearables and flexible electronic products over the forecast period.

North America will hold the largest market share during the forecast period.

Key players active in the MRAM market include Toshiba Corporation (Japan), NVE Corporation (US), Everspin Technologies Inc. (US), Avalanche Technology Inc. (US), Spin Memory, Inc. (US), Honeywell International Inc. (US), Samsung Electronics Co. Ltd (South Korea), Numem Inc. (US), and Taiwan Semiconductor Manufacturing Company Limited (Taiwan).