NOR Flash Memory Market
NOR Flash Memory Market Forecasts to 2028 - Global Analysis By Type (Parallel NOR Flash and Serial NOR Flash), By Application (Automotive, Consumer Electronics, Communication and Others) and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $4.2 BN |
|
Projected Year Value (2028) |
US $6.5 BN |
|
CAGR (2022 - 2028) |
7.79% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Fastest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global NOR Flash Memory Market is accounted for $4.2 billion in 2022 and is expected to reach $6.5 billion by 2028 growing at a CAGR of 7.79% during the forecast period. NOR flash memory is a nonvolatile computer memory storage medium that can be erased and reprogrammed electrically. The growing demand for NOR flash in applications involving individual bytes of data to be written and read, as well as random access and execute-in-place access, is driving market growth. The main feature of NOR flash solutions is their capacity, which ranges between megabits and low gigabits.
According to integrated circuit insights (IC), NOR flash memory accounted for 4% of the total flash memory market in 2021, but sales of NOR flash devices continued to increase by 63% to $2.9 billion during last year. Significant investments and new product launches from key industry players are contributing to the expansion of the NOR flash market.
Market Dynamics:
Driver:
Increasing need for advanced features
The rapid advancement of technology, combined with the massive production of data, has significantly increased the demand for flash memory solutions capable of handling large amount of data efficiently. NOR flash memory meets almost every end-user expectation because it provides better read performance and operates faster than existing memory technologies. The consumer electronics industry is expanding rapidly in both developed and developing countries, owing primarily to technological advancements and smart features in modern devices, which are driving the market growth.
Restraint:
Expensive
NOR flash memory is more expensive than NAND and has a smaller code saturation space Apart from that, NOR flash memory requires more power when it is first powered on, these factors hinder the market growth. However, the standby power requirement for NOR is considerably lower.
Opportunity:
Increasing demand for various industries
The rapidly expanding data-centric applications of NOR flash memories in a variety of industry verticals around the world, combined with the growing prominence of mobile devices and connected technology, are expected to propel up demand for NOR flash memories. Furthermore, high-performance NOR flash technologies enable memory hierarchy simplification, which can be used for incorporating non-volatility in logic circuits, resulting in NOR flash memories finding new applications in hardware security and neuromorphic computing.
Threat:
Availability of substitutes
NOR Flash Memory market is expected to fall significantly over the next few years as reserves increase and demand falls. Current semiconductor shortages and short supplies of other memory products such as DRAM and NAND have increased demand and average selling prices for NOR flash products since the pandemic and with an increase in market competition among the top players, which results in hindering market growth.
Covid-19 Impact
Due to business closures and lockdown restrictions, the COVID-19 pandemic hampered economic growth in most countries' manufacturing sectors. Automobile and electronic product sales also tumbled for a few months in 2020. The closure of office buildings, public places, schools, transportation, and other facilities also hampered market growth. The semiconductor industry suffered significantly as a result of the decline in demand for electronic components from the industrial sector. As no mass production occurred during the lockdown period, the revenue model for microelectronics has declined.
The Consumer Electronics segment is expected to be the largest during the forecast period
The Consumer Electronics segment is expected to be the largest during the forecast period, due to its usage in communication devices and electronics. And also, due to the significant increase in usage of these products in recent years is driving demand for the market. Advanced businesses are focusing on leveraging wearables to increase efficiency, improve workflow, and improve communications. The Technological advancements and availability of smart features in consumer electronics are expected to drive demand for these devices.
The Serial NOR Flash segment is expected to have the highest CAGR during the forecast period
The Serial NOR Flash Segment is projected to have the highest CAGR during the forecast period, due to a rise in demand in embedded electronics, IoT devices, and automotive electronics. When compared to parallel flash devices, serial flash devices require fewer connections to the circuit board. Serial NOR uses a simpler interface than parallel NOR, which reduces the cost of manufacturing serial NOR storage devices, which is an advantage. Moreover, the demand for embedded, serial NOR flash memory is expanding rapidly, as device developers seek high-density embedded memory solutions with the lowest available cost per gigabit.
Region with largest Share:
Due to the region’s prominent electronics industry and the presence of major players in the region, Asia-Pacific registered the largest share during the forecast period. The increasing penetration of electronics in automotive and industrial automation is expected to boost market growth. Furthermore, a surge in demand for non-volatile memory in consumer electronics products is driving mass production of non-volatile memory in the region.
Region with highest CAGR:
Asia Pacific is considered to have exponential growth, registering the highest CAGR over the forecast period due to several initiatives that have recently been launched to increase industry output. Furthermore, the region is home to some of the market's biggest players, such as GigaDevice. As NOR flash memory is frequently used to store configuration data in many digital products, the market being studied is growing in this region with the growth in electronics industry. The combination of these factors makes Asia Pacific one of the market's most promising regions.
Key players in the market
Some of the key players profiled in the NOR Flash Memory Market include Samsung, ISSI, Eon Microchip Technologies, Inc., Macronix International Co., Ltd, JSC, Elite Semiconductor Microelectronics Technology Inc., Dialog Semiconductor, GigaDevice, Cypress Semiconductor Corporation, Integrated Silicon Solution Inc., Micron Technology, Inc. and Winbond Electronics Corporation.
Key Developments:
In March 2022, Winbond Electronics launched the W25Q64NE, a 1.2V SpiFlash NOR flash IC in a 64 Mb density. The new NOR flash memory would offer its customers a large code storage capacity and active mode power savings per the latest requirements of mobile devices and smart wearables.
In March 2022, CAES, a provider of mission-critical electronics for aerospace and defense, introduced a line of RadHard NOR Flash Memory devices that deliver the boot-memory densities required by microprocessors and FPGAs utilized in space applications. The new radiation-hardened (RadHard) devices feature high levels of space assurance needed for the longest, harshest space missions. They include the industry’s first 1 Gb monolithic NOR Flash Memory device enabling the storage of mission-critical boot images.
In April 2022, Microchip announced the release of SST26LF064RT, a 64-Mbit serial quad I/O NOR flash memory device for harsh aerospace and defense systems. The commercial off-the-shelf (COTS) memory technology device has a high radiation tolerance and is capable of operating in 50 kilorad (krad) Total Ionizing Dose (TID). The space-qualified second SuperFlash device from Microchip has been mainly developed to reduce development time, cost, and risk in the systems.
Types Covered:
• Parallel NOR Flash
• Serial NOR Flash
Densities Covered:
• Less than 250 Mb
• Mb - 1 Gb
• More than 1 Gb
Applications Covered:
• Automotive
• Consumer Electronics
• Communication
• Manufacturing
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global NOR Flash Memory Market, By Type
5.1 Introduction
5.2 Parallel NOR Flash
5.3 Serial NOR Flash
6 Global NOR Flash Memory Market, By Density
6.1 Introduction
6.2 Less than 250 Mb
6.3 Mb - 1 Gb
6.4 More than 1 Gb
7 Global NOR Flash Memory Market, By Application
7.1 Introduction
7.2 Automotive
7.3 Consumer Electronics
7.4 Communication
7.5 Manufacturing
7.6 Other Applications
8 Global NOR Flash Memory Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Samsung
10.2 ISSI
10.3 Eon
10.4 Microchip Technologies, Inc.
10.5 Macronix International Co., Ltd
10.6 JSC
10.7 Elite Semiconductor Microelectronics Technology Inc.
10.8 Dialog Semiconductor
10.9 GigaDevice
10.10 Cypress Semiconductor Corporation
10.11 Integrated Silicon Solution Inc.
10.12 Micron Technology, Inc.
10.13 Winbond Electronics Corporation
List of Tables
1 Global NOR Flash Memory Market Outlook, By Region (2020-2028) ($MN)
2 Global NOR Flash Memory Market Outlook, By Type (2020-2028) ($MN)
3 Global NOR Flash Memory Market Outlook, By Parallel NOR Flash (2020-2028) ($MN)
4 Global NOR Flash Memory Market Outlook, By Serial NOR Flash (2020-2028) ($MN)
5 Global NOR Flash Memory Market Outlook, By Density (2020-2028) ($MN)
6 Global NOR Flash Memory Market Outlook, By Less than 250 Mb (2020-2028) ($MN)
7 Global NOR Flash Memory Market Outlook, By Mb - 1 Gb (2020-2028) ($MN)
8 Global NOR Flash Memory Market Outlook, By More than 1 Gb (2020-2028) ($MN)
9 Global NOR Flash Memory Market Outlook, By Application (2020-2028) ($MN)
10 Global NOR Flash Memory Market Outlook, By Automotive (2020-2028) ($MN)
11 Global NOR Flash Memory Market Outlook, By Consumer Electronics (2020-2028) ($MN)
12 Global NOR Flash Memory Market Outlook, By Communication (2020-2028) ($MN)
13 Global NOR Flash Memory Market Outlook, By Manufacturing (2020-2028) ($MN)
14 Global NOR Flash Memory Market Outlook, By Other Applications (2020-2028) ($MN)
15 North America NOR Flash Memory Market Outlook, By Country (2020-2028) ($MN)
16 North America NOR Flash Memory Market Outlook, By Type (2020-2028) ($MN)
17 North America NOR Flash Memory Market Outlook, By Parallel NOR Flash (2020-2028) ($MN)
18 North America NOR Flash Memory Market Outlook, By Serial NOR Flash (2020-2028) ($MN)
19 North America NOR Flash Memory Market Outlook, By Density (2020-2028) ($MN)
20 North America NOR Flash Memory Market Outlook, By Less than 250 Mb (2020-2028) ($MN)
21 North America NOR Flash Memory Market Outlook, By Mb - 1 Gb (2020-2028) ($MN)
22 North America NOR Flash Memory Market Outlook, By More than 1 Gb (2020-2028) ($MN)
23 North America NOR Flash Memory Market Outlook, By Application (2020-2028) ($MN)
24 North America NOR Flash Memory Market Outlook, By Automotive (2020-2028) ($MN)
25 North America NOR Flash Memory Market Outlook, By Consumer Electronics (2020-2028) ($MN)
26 North America NOR Flash Memory Market Outlook, By Communication (2020-2028) ($MN)
27 North America NOR Flash Memory Market Outlook, By Manufacturing (2020-2028) ($MN)
28 North America NOR Flash Memory Market Outlook, By Other Applications (2020-2028) ($MN)
29 Europe NOR Flash Memory Market Outlook, By Country (2020-2028) ($MN)
30 Europe NOR Flash Memory Market Outlook, By Type (2020-2028) ($MN)
31 Europe NOR Flash Memory Market Outlook, By Parallel NOR Flash (2020-2028) ($MN)
32 Europe NOR Flash Memory Market Outlook, By Serial NOR Flash (2020-2028) ($MN)
33 Europe NOR Flash Memory Market Outlook, By Density (2020-2028) ($MN)
34 Europe NOR Flash Memory Market Outlook, By Less than 250 Mb (2020-2028) ($MN)
35 Europe NOR Flash Memory Market Outlook, By Mb - 1 Gb (2020-2028) ($MN)
36 Europe NOR Flash Memory Market Outlook, By More than 1 Gb (2020-2028) ($MN)
37 Europe NOR Flash Memory Market Outlook, By Application (2020-2028) ($MN)
38 Europe NOR Flash Memory Market Outlook, By Automotive (2020-2028) ($MN)
39 Europe NOR Flash Memory Market Outlook, By Consumer Electronics (2020-2028) ($MN)
40 Europe NOR Flash Memory Market Outlook, By Communication (2020-2028) ($MN)
41 Europe NOR Flash Memory Market Outlook, By Manufacturing (2020-2028) ($MN)
42 Europe NOR Flash Memory Market Outlook, By Other Applications (2020-2028) ($MN)
43 Asia Pacific NOR Flash Memory Market Outlook, By Country (2020-2028) ($MN)
44 Asia Pacific NOR Flash Memory Market Outlook, By Type (2020-2028) ($MN)
45 Asia Pacific NOR Flash Memory Market Outlook, By Parallel NOR Flash (2020-2028) ($MN)
46 Asia Pacific NOR Flash Memory Market Outlook, By Serial NOR Flash (2020-2028) ($MN)
47 Asia Pacific NOR Flash Memory Market Outlook, By Density (2020-2028) ($MN)
48 Asia Pacific NOR Flash Memory Market Outlook, By Less than 250 Mb (2020-2028) ($MN)
49 Asia Pacific NOR Flash Memory Market Outlook, By Mb - 1 Gb (2020-2028) ($MN)
50 Asia Pacific NOR Flash Memory Market Outlook, By More than 1 Gb (2020-2028) ($MN)
51 Asia Pacific NOR Flash Memory Market Outlook, By Application (2020-2028) ($MN)
52 Asia Pacific NOR Flash Memory Market Outlook, By Automotive (2020-2028) ($MN)
53 Asia Pacific NOR Flash Memory Market Outlook, By Consumer Electronics (2020-2028) ($MN)
54 Asia Pacific NOR Flash Memory Market Outlook, By Communication (2020-2028) ($MN)
55 Asia Pacific NOR Flash Memory Market Outlook, By Manufacturing (2020-2028) ($MN)
56 Asia Pacific NOR Flash Memory Market Outlook, By Other Applications (2020-2028) ($MN)
57 South America NOR Flash Memory Market Outlook, By Country (2020-2028) ($MN)
58 South America NOR Flash Memory Market Outlook, By Type (2020-2028) ($MN)
59 South America NOR Flash Memory Market Outlook, By Parallel NOR Flash (2020-2028) ($MN)
60 South America NOR Flash Memory Market Outlook, By Serial NOR Flash (2020-2028) ($MN)
61 South America NOR Flash Memory Market Outlook, By Density (2020-2028) ($MN)
62 South America NOR Flash Memory Market Outlook, By Less than 250 Mb (2020-2028) ($MN)
63 South America NOR Flash Memory Market Outlook, By Mb - 1 Gb (2020-2028) ($MN)
64 South America NOR Flash Memory Market Outlook, By More than 1 Gb (2020-2028) ($MN)
65 South America NOR Flash Memory Market Outlook, By Application (2020-2028) ($MN)
66 South America NOR Flash Memory Market Outlook, By Automotive (2020-2028) ($MN)
67 South America NOR Flash Memory Market Outlook, By Consumer Electronics (2020-2028) ($MN)
68 South America NOR Flash Memory Market Outlook, By Communication (2020-2028) ($MN)
69 South America NOR Flash Memory Market Outlook, By Manufacturing (2020-2028) ($MN)
70 South America NOR Flash Memory Market Outlook, By Other Applications (2020-2028) ($MN)
71 Middle East & Africa NOR Flash Memory Market Outlook, By Country (2020-2028) ($MN)
72 Middle East & Africa NOR Flash Memory Market Outlook, By Type (2020-2028) ($MN)
73 Middle East & Africa NOR Flash Memory Market Outlook, By Parallel NOR Flash (2020-2028) ($MN)
74 Middle East & Africa NOR Flash Memory Market Outlook, By Serial NOR Flash (2020-2028) ($MN)
75 Middle East & Africa NOR Flash Memory Market Outlook, By Density (2020-2028) ($MN)
76 Middle East & Africa NOR Flash Memory Market Outlook, By Less than 250 Mb (2020-2028) ($MN)
77 Middle East & Africa NOR Flash Memory Market Outlook, By Mb - 1 Gb (2020-2028) ($MN)
78 Middle East & Africa NOR Flash Memory Market Outlook, By More than 1 Gb (2020-2028) ($MN)
79 Middle East & Africa NOR Flash Memory Market Outlook, By Application (2020-2028) ($MN)
80 Middle East & Africa NOR Flash Memory Market Outlook, By Automotive (2020-2028) ($MN)
81 Middle East & Africa NOR Flash Memory Market Outlook, By Consumer Electronics (2020-2028) ($MN)
82 Middle East & Africa NOR Flash Memory Market Outlook, By Communication (2020-2028) ($MN)
83 Middle East & Africa NOR Flash Memory Market Outlook, By Manufacturing (2020-2028) ($MN)
84 Middle East & Africa NOR Flash Memory Market Outlook, By Other Applications (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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