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Magneto Resistive RAM (MRAM) Market | Share | Growth

Market Overview

Magneto Resistive RAM (MRAM), which stands for magnetoresistive RAM (random-access memory), is a non-volatile RAM that stores data in various magnetic domains. The Magneto Resistive RAM (MRAM) memory technology is immensely viable as it retains data whenever the power is removed. Compared to other technologies like Flash and EEPROM, this technology offers a higher read-write speed and has a relatively lower power consumption level. Moreover, the magnetoresistive RAM data does not get degraded over time. Owing to its unique data storage capability, MRAM comes as a replacement for SRAM (Static Random Access Memory), DRAM (Dynamic Random Access Memory), and flash memory. It is different from the conventional RAM chip technologies as it stores data using magnetic storage elements and not electric charge or current flows. These elements are formed by two ferromagnetic plates, divided by a thin insulating layer. The magnetoresistive RAM is increasingly being adopted by companies worldwide as its development is taking memory technology for computers and processor-based systems to the next level. Its two significant types include the Toggle Magneto Resistive RAM (MRAM) and Spin-transfer Torque Magneto Resistive RAM (MRAM) (STT-MRAM). Toggle Magneto Resistive RAM (MRAM) provides high-density memory using a transistor and a Magnetic Tunnel Junction (MTJ) cell. When the free layer’s magnetic moment is parallel to the fixed layer, the MTJ device has a low resistance. In contrast, the device shows high resistance when the free layer magnetic moment is aligned non-parallel to the fixed layer. However, in the STT-MRAM, a magnetic layer in the magnetic tunnel junction is altered using a spin-polarized current. The magnetoresistive RAM technology finds extensive application across a slew of industries, including consumer electronics, corporate, enterprise storage, robotics, aerospace, and automotive.

Market Dynamics:

Magnetoresistive RAM has a performance capability as compared to the traditional NAND. It is exceptionally faster, less power-consuming, and can retain data even in the absence of power. It is believed that Magneto Resistive RAM (MRAM) could potentially replace the electrically erasable programmable read-only memory (EEPROM) and flash memory in the coming years, which provides the global Magneto Resistive RAM (MRAM) market with significant growth opportunities. Electronic products majorly require flexible magnetic memories for data storage and processing. Therefore, the surging demand for consumer electronic devices, such as smartphones, computers, laptops, smart wearables, Digital cameras, and smart televisions, is expected to drive the global growth over the forecast period. The global market expansion can be accredited to a wide range of factors, such as rapid digitalization taking place worldwide, innovations in computing technologies; increasing adoption of Internet of Things (IoT), 5G technologies, connected IT devices, and smart robots; the escalating demand for low-cost, power-efficient RAM technologies across the automotive and commercial sectors; and growing investments in R&D activities to develop next-gen RAM that could reduce boot-up time and enhance memory space. Magneto Resistive RAM (MRAM) is highly tamper-resistant and is capable of resisting high radiation and operating in extreme temperature conditions, owing to which it is widely used for industrial and military applications. Over recent years, companies have mass-produced the magnetoresistive RAM technology in embedded and standalone designs, which has boosted its demand across several industries. For instance, Samsung began the mass production of its first commercial embedded Magneto Resistive RAM (MRAM) in 2019. Hence, magnetoresistive RAM is integrated into Medical Devices to develop next-generation sensors with higher accuracy that find application in non-invasive diagnostic tests for conditions like Diabetes and Hypoxia. Moreover, it enhances data storage, data communication, and data mining. The escalating demand for this technology in the healthcare sector is another key driver for global market growth. However, the high designing costs associated with RAM devices are expected to hamper the market growth to a great extent.

COVID-19 Impact Assessment

The latest report fully encompasses the current scenario of the global Magneto Resistive RAM (MRAM) market, which has observed significant changes following the COVID-19 outbreak. The global economy has been experiencing adverse financial outcomes since the advent of the pandemic. The global lockdown restrictions and social distancing norms have halted various industrial operations and business activities for an indefinite period, leading to a severe economic downturn. However, according to industry experts, the pandemic is turning out to be a blessing in disguise for the global market. Digitalization seems to have picked up pace since the COVID-19 outbreak, as nearly every industrial sector is adopting smart robots, drones, and various other automated technologies to facilitate business processes. Moreover, as the world goes online during this crisis period, there has been an unprecedented demand for smartphones and various electronic gadgets in recent months, which has extensively benefitted the global market.

Regional Analysis

North America is poised to emerge as the dominant region in the global Magneto Resistive RAM (MRAM) market over the forecast years, owing to the presence of leading market players in the region and increasing R&D activities in the technological space. Moreover, the magnifying demand for faster computation, enhanced scalability, and lesser power consumption is further likely to promote the regional market growth in the upcoming years.

The Asia Pacific region will demonstrate considerable growth over the projected period, according to the report. Advancements in data center infrastructure, surging adoption of Cloud Computing, and the exponentially rising Internet usage are the key factors contributing to the regional market growth. Furthermore, the sky-rocketing sales of smartphones, smart wearables, and advanced electronic gadgets in the region provide significant growth opportunities to market players. The key geographical segments of the global market include:

North America

U.S.
Canada
Mexico

Europe

U.K.
Italy
Germany
France
Spain
Rest of Europe

Asia Pacific

Japan
India
China
South Korea
Rest of Asia Pacific

Latin America

Middle East & Africa

Competitive Outlook

The key market contenders are:

Avalanche Technology, Inc.
Toshiba Corporation
Intel Corporation
Samsung Electronics Co. Ltd.
Qualcomm Incorporated
Everspin Technologies, Inc.
Honeywell International, Inc.
Spin Transfer Technologies
NVE Corporation
Infineon Technologies AG
Crocus Nano Electronics LLC

In April 2020, Everspin Technologies expanded its joint agreement with Global Foundries to develop Spin-transfer Torque Magnetoresistive RAM. The companies have collaborated on the development of 22nm, 28nm, and 40nm STT-MRAM. The companies have now updated their agreement terms for a future project to develop an advanced 12nm FinFET Magnetoresistive RAM.

Report Highlights:

The latest report closely investigates the market, focusing on the market consumption rate in terms of value and volume.
The report presents a systematic market segmentation, besides analyzing the global market’s growth trajectory.
The report enumerates the key market contenders, elaborating on their competitive hierarchy and effective business expansion strategies, such as agreements, mergers, acquisitions, and new product launches.
The report thus analyzes the leading, as well as emerging regional markets of the global market.