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

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.

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 Europe Asia-Pacific The Middle East & Africa South America

Key Players

  • 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)
  • Taiwan Semiconductor Manufacturing Company Limited (Taiwan)

Drivers

  • Growing demand for electronic wearables and flexible electronic products
Speak to Analyst Request a Free Sample

Magnetoresistive RAM (MRAM) Market Overview


It is expected that the Magnetoresistive RAM (MRAM) Market will register a CAGR of over 18.58% to reach USD 1396.7 million by the end of 2027. Magneto-resistive random-access memory is a non-volatile RAM used to store data using magnetic charges in place of electric charges. The early developments of the system could be traced back to the year 1990, when Honeywell Company designed magneto-resistive memory devices. There were affirmed features such as high density, random access, and non–volatile memory. It stores data bits and uses magnetic charges, an alternative to the electrical charges, and the dynamic ram uses that. The device is used to improve electronic products and assist electronic products in storing huge data and ensuring fast access speed. This is an amalgamation of the advantages of both dynamic RAM and static RAM. The growing demand for standalone and embedded memory across consumer electronic devices, smart devices, and wearable devices will drive the market further. However, increasing the manufacturing cost and less labour for MRAM will hinder the market growth. The magneto resistive ram market size will gather the required development in the future.



  • On Oct. 19, 2022, Everspin Technologies, Inc., a leading global developer & manufacturer of MRAM persistent memory solutions, announced signing a contract QuickLogic Corporation to provide MRAM technology, design, and manufacturing services. The initial award worth is US$2.8M, potentially increasing to US$8.7M with subsequent options. 


Sponsored by DoD, this project is a trusted and assured microelectronics (T&AM) program to develop & demonstrate strategic radiation hardened (SRH) and high-reliability field programmable gate array (FPGA) technology to support DoD’s identified & future strategic and space system requirements.


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 MRAM Market trends 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.



  • In June 2020, Everspin Technologies, Inc., a leading global provider of MRAM persistent memory solutions, published a white paper demonstrating potential uses for MRAM in medical applications and ventilator use cases. Due to the increasing need to supply medical ventilators during the Covid-19 pandemic, several companies had issued reference designs to produce ventilators. 


Everspin’s unique MRAM memory technology benefits the electronic system design of ventilators. Application notes are designed to help designers implement high-performance, persistent MRAM in their solutions. The white paper will provide references to ventilator designs currently available and show Everspin’s MRAM products that can enhance the performance and reliability of these designs


Market Dynamics



  • On Jan.12, 2022, Samsung Electronics, a global leader in advanced semiconductor technology, demonstrated the world’s first MRAM-based in-memory computing. In standard computer architectures, data is stored in memory chips, and data computing is executed in separate processor chips. 


In-memory computing has emerged as one of the promising technologies to realize next-generation low-power AI semiconductor chips. Samsung’s research in making next-generation AI semiconductors with MRAM shows its leadership in-memory technology and its effort to merge memory and system semiconductors for next-generation artificial intelligence (AI) chips. 


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.


Segmentation


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


By product, the MRAM future 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 share vs nand 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.



  • On Sep.27, 2021, Avalanche Technology, a leading provider of next-generation MRAM technology, introduced new 64Mb STT-MRAM memory devices for industrial applications. The new 64Mb parallel x16 industrial P-SRAM products are the smallest form factor and lowest power, high-reliability non-volatile memory devices available in the market. 


With this new product release, Avalanche brought high-reliability industrial products with the smallest form factor and lowest power, enabling customers to design unified memory architecture systems for industrial data logging applications.


 


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.



  • On Oct. 17, 2022, Avalanche Technology, a leading provider of next-generation MRAM technology, announced signing a representation agreement with TMS-Elektronik, for the sales and support of its STT-MRAM Products in Turkey. Under this agreement, Avalanche joined the TMS-Elektronik team at the SAHA Expo 2022 in Istanbul, held during Oct. 25-28th.


TMS-Elektronik will enable the company to have world-class local support for its customers in the vibrant high-tech market of Turkey. Avalanche’s STT-MRAM-based discrete Persistent SRAM (P-SRAM) non-volatile memory products bring significant benefits in developing boards & systems for aerospace and industrial applications, with high reliability, endurance, and access speed, with low power. 


Recent Development


 April 2022


The popularity of large language models such as OpenAI's GPT-3, Microsoft's MT-NLG, and Google's BERT is one the most important developments in AI over the past 10 years.


January 2022


Today, Samsung Electronics, a world leader in advanced semiconductor technology, announced the demonstration of its first in-memory computing based on MRAM (Magnetoresistive Random Access Memory).


Magneto-Resistive Random Access Memory (MRAM) has generally failed to replace SRAM because its Spin Transfer Torque (STT-MRAM) implementation is too slow and doesn't last long enough.


Authored by scientists for Lancaster University in the UK, the report refers to UltraRAM as "a non-volatile memory with the potential to achieve fast, ultralow-energy electron storage."


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).