The Global Non-Volatile Memory Market (2016-2022) would to attain a market size of $81.3 billion by 2022. The market would grow at a CAGR of 10.3% during the forecast period.

Within the memory types, the electrically addressed memory type is the leading and is most widely used form of memory type in the consumer electronics. There is an ever-increasing demand for superior level of efficiency, rapid memory access and power efficient devices, which have been the factors that have been driving the market growth. Rapid adoption of NVM in flexible electronics would further add to the market opportunities. Within the electrically addressed memory types, the NVRAM would be the most notable segment throughout the forecast period. Nevertheless, the 3D Point, MRAM, and SONOS are other memory segments that would grow significantly during the forecast period.

Within the applications, the enterprise storage segment held about 35% market share of the overall NVM market. The numbers of datacenters that have grown over the years have been the factor that has led to the market growth and add the revenue model significantly. Nevertheless, consumer electronic application is found to be the lucrative market segment and would grow significantly with a CARG of 9.7% during the forecast period. The demand for higher storage and faster memory access in products such as smartphone and wearable devices have further added to the market growth.

Smart cards are an interesting segment with a huge market potential, which in itself would drive the non- volatile memory market. Smart cards are widely used in government IDs, driver’s licenses, and access cards and also in banking cards. The global demand for smart cards would be felt in almost all the segments for various purposes. There would be an uptake in the volume of smart cards and this in itself would be a major driver for the non-volatile memory market.