Global second-gen magneto resistive RAM (STT MRAM) market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of ~44% during the forecast period.

Global Second-gen Magneto Resistive RAM (STT MRAM) Market

The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.

Market Definition

Second generation magneto resistive RAM is also called as spin-transfer torque random access memory (STT RAM). STT-RAM is a non-volatile computer storage or memory with near-zero or almost negligible leakage power consumption. STT-RAM has potential to upgrade MRAM chips or devices to gain higher densities at a lower cost.

Market Dynamics

A surge in the adoption of STT-MRAM than conventional MRAM technology owing to its benefits such as better scalability, lower power consumption, lower costs, and ability to enable higher density products is a major driving factor behind the growth of the market. Increasing demand of STT MRAM in consumer electronics and wearable electronics industry and rising replacement of flash memory and EEPROM by STT MRAM by various manufacturers due to high-performance of STT MRAM memory are expected to improve growth of the market during the forecast period. In addition, ongoing research and development activities in the field of RAM are further propelling market growth.However, complexity in the structure design of STT MRAM is a major restraining factor that could hamper the growth of the market.

Global Second-gen Magneto Resistive RAM (STT MRAM) Market: Segmentation Analysis

By application, the computer segment dominated the market in 2019 and is projected to witness fast growth at CAGR of XX% during the forecast period. Growing adoption of non-volatile memory device such as STT MRAM technology in computer device to reduce energy loss occurred by volatile devices is attributed to the growth of the market. STT MRAM for main computer memory provides major benefits such as unlimited read/write endurance, no need of a power supply to preserve information, high speed operation and high-class density, which are ultimately propelling the growth of the market.

Global Second-gen Magneto Resistive RAM (STT MRAM) Market: Regional Analysis

Region-wise, North America dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The US and Canada are the major contributors behind the growth of the market in the region. The growth is attributed to the vast presence of STT MRAM manufacturing companies such as Everspin, Honeywell, and many others in the US.

Growing adoption of magneto resistive RAM in aerospace and defence and consumer electronics industry and increasing research and development activities by region-based market leaders in MRAM sector is driving the growth of the market.

Global Second-gen Magneto Resistive RAM (STT MRAM) Market: Competitive Analysis

Everspin Technologies is leading in the global second gen magneto resistive RAM market. Growing research and development activities by the company in the field of MRAM technology is making the company a global leader in the market.

Market strategies by Everspin Technologies-

In Feb 2020, Everspin technologies announced that the company has started the development of STT-MRAM especially for IoT and Industrial applications.

In March 2020, the company announced an enhancement of its STT-MRAM joint development agreement (JDA) with GLOBALFOUNDRIES to carry out future project related to MRAM solution.

The objective of the report is to present a comprehensive analysis of the Global Second-gen Magneto Resistive RAM (STT MRAM) Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Second-gen Magneto Resistive RAM (STT MRAM) Market dynamics, structure by analyzing the market segments and projects the Global Second-gen Magneto Resistive RAM (STT MRAM) Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Second-gen Magneto Resistive RAM (STT MRAM) Market make the report investor’s guide.

The Scope of Global Second-gen Magneto Resistive RAM (STT MRAM) Market

Global Second-gen Magneto Resistive RAM (STT MRAM) Market, By Application

• Computer

• Medical equipment

• Sensing devices

• Smart meter

• Other

Global Second-gen Magneto Resistive RAM (STT MRAM) Market, By Industry

• Consumer electronics

• Robotics

• Automotive

• Enterprise storage

• Aerospace and defense

• Others

Global Second-gen Magneto Resistive RAM (STT MRAM) Market, By Region

• North America

• Europe

• Asia Pacific

• South America

• Middle East and Africa

Global Second-gen Magneto Resistive RAM (STT MRAM) Market, Key Players

• Everspin Technologies Inc

• Spin Transfer Technologies

• Avalanche Technology

• Honeywell International Inc

• Intel Corporation

• NVE Corporation

• Qualcomm, Inc

• Samsung Electronics Co. Ltd

• Spin Transfer Technologies

• Toshiba Corporation

• Crocus Nano Electronics LLC

• IBM

• Hynix Semiconductor

• Hitachi

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