Global NanoRAM Market Report 2022: Market to Reach $290.2 Million by 2026 - Rising Demand for Powerful, Feature-Rich Consumer Electronics Devices Shifts Focus onto NRAM
DUBLIN, May 6, 2022 /PRNewswire/ -- The "NanoRAM - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global NanoRAM Market to Reach US$290.2 Million by the Year 2026
The global market for NanoRAM estimated at US$44.8 Million in the year 2020, is projected to reach a revised size of US$290.2 Million by 2026, growing at a CAGR of 37.8% over the analysis period.
Nanotube-RAM or NanoRAM or NRAM is a non-volatile random access memory that utilizes carbon nanotubes placed on a chip-like substrate. NRAM is the proprietary technology of Nantero. Carbon nanotubes-based non-volatile memory technology is anticipated to gain much traction over the coming years.
Data storage requirement of different electronic gadgets including computers, smartphones, laptops and other electronics that are used on a daily basis is increasing, which is in turn fueling growth for the market for NRAMs and such other technologies that make possible higher data storage. Increasing investments in electronics and semiconductor industries also creates opportunities for growth for the market.
Demand is expected to be high in the automotive, consumer electronics, defense, aerospace and telecommunication applications, where the attributes of low power consumption and high-speed operation would be highly beneficial. NRAMs are also being integrated into circuits that can be easily accessed by any electronic device.
Projects for digital transformation, across several industrial verticals, including BFSI, healthcare, IT and telecom, also creates market growth opportunities. Furthermore, when compared to flash and DRAM, NRAM is faster. It consumes around 160 times faster volatile capacity/bit by using comparatively less power. NRAM also offers mass customization potential. In the form of a nanochip, it allows customization for numerous tasks.
The NanoRAM market in the U.S. is estimated at US$22.1 Million in the year 2021. The country currently accounts for a 40.7% share in the global market. hina, the world's second largest economy, is forecast to reach an estimated market size of US$71.9 Million in the year 2026 trailing a CAGR of 45.6% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 32.2% and 33% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 33.7% CAGR while Rest of European market (as defined in the study) will reach US$110.9 Million by the end of the analysis period.
North America is one of the key markets for NRAMs currently. Availability of improved technology infrastructure, combined with the factor of growing data center investments, creates an environment highly conducive to growth of the market for nano RAMs across the region.
As there is increasing emphasis on developing embedded applications for smartphones as well as IoT (Internet of Things) components, the focus is on new technologies with greater flexibility and better optimization.
NRAM, in this regard is considered extremely promising, since the technology presents considerable potential for customization, implying that the technology can be built to meet the requirements of specific tasks. In embedded memory applications, NRAM can be used for creating more power microcontroller, microprocessor and other types of logic devices.
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 20 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
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