Home > > IT And Telecommunications > > Next Generation Non-Volatile Memory Market Size, Report - 2025 - 2032
Id: CBI_2616 | Pages: 285 | Format : PDF | Published : | Author : Amit Sati | Category : IT And Telecommunications
Next Generation Non-Volatile Memory Market is estimated to reach over USD 15.57 Billion by 2032 from a value of USD 4.59 Billion in 2024 and is projected to grow by USD 5.37 Billion in 2025, growing at a CAGR of 18.7% from 2025 to 2032.
Next generation non-volatile memory is widely used storage technology which retains data even when the power is cut off. The memory technology is essential for storing important information such as firmware, configuration settings, and others, enabling efficient data retrieval and storage. Additionally, the rising demand for embedded systems and IoT devices is fueling the next generation non-volatile memory market growth. Further, the key factors driving the memory technology include enhanced access speed, increased performance, and reduced boost time among others which, in turn, propels the next generation non-volatile memory market demand.
The rapid development of IoT technologies and 5G networks has exponentially increased the volume of data generated, which, in turn, is driving the next generation non-volatile memory market demand. Additionally, the memory technology is utilized to ensure that the memory data is not lost in unexpected events. Also, the memory technology is essential to ensure the accuracy and protect the integrity of the data before malicious intrusions.
Therefore, the rising adoption of IoT devices is paving the way for demand of non-volatile memory to ensure memory data is not lost, in turn, proliferating the next generation non-volatile memory market growth.
The non-volatile memory has slower read and write operations, and the CPU is unable to directly access the memory which, in turn, hinders the next generation non-volatile memory market expansion. Additionally, the reduced performance and efficiency due to lower read and write speed of the memory restrains the market progress.
Therefore, the slower read and write sped of the memory technology is restraining the next generation non-volatile memory market expansion.
The proliferation of data centers is driving the integration of memory technology due to application of non-volatile memory into data centers to offer a flexible approach to expanding memory capacity which, in turn, is propelling the next generation non-volatile memory market opportunities. Additionally, the integration provides improved performance and scalability driving the market progress.
Hence, the integration of memory technology with non-volatile memory is anticipated to promote prospect for next generation non-volatile memory market opportunities during the forecast period.
Based on the type, the market is bifurcated into Hybrid Memory Cube (HMC) and High-bandwidth Memory (HBM).
Trends in the Type:
High-bandwidth memory (HBM) accounted for the largest revenue share in the year 2024.
Hybrid memory cube (HMC) is anticipated to register the fastest CAGR during the forecast period.
Based on the wafer size, the market is bifurcated into 200 mm and 300 mm.
Trends in the Wafer Size:
300 mm accounted for the largest revenue share in the year 2024.
200 mm is anticipated to register the fastest CAGR during the forecast period.
Based on the application, the market is segmented into BFSI, consumer electronics, government, telecommunications, information technology, and others.
Trends in the Application:
Consumer electronics accounted for the largest revenue share of 41.08% in the year 2024.
BFSI is anticipated to register the fastest CAGR during the forecast period.
The regions covered are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Asia Pacific region was valued at USD 1.22 Billion in 2024. Moreover, it is projected to grow by USD 1.43 Billion in 2025 and reach over USD 4.29 Billion by 2032. Out of this, China accounted for the maximum revenue share of 33.6%. The rising adoption of vehicles with advanced driver assistance systems (ADAS) is driving the market growth. Furthermore, AI integration into non-volatile memory is projected to drive the market adoption in Asia Pacific region during the forecast period.
North America is estimated to reach over USD 5.36 Billion by 2032 from a value of USD 1.60 Billion in 2024 and is projected to grow by USD 1.86 Billion in 2025. In the North American region, the growing automotive and consumer electronics sector offer lucrative growth prospects for the market. Additionally, technological advancements and rising number of global memory technology manufacturers in North America is driving the market evolution. Also, the ring adoption to secure the crucial data even during power loss is fueling the market growth.
The regional evaluation depicts that rising adoption in applications such as consumer electronics and data centers are driving the market in Europe. Additionally, the key factor driving the market is the rising adoption of IoT connected devices in the Middle East and African region. Further, the increasing focus towards digital transformation is paving the way for the progress of market in Latin America region.
The global next generation non-volatile memory market is highly competitive with major players providing next generation non-volatile memory to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in the next generation non-volatile memory industry. Key players in the next generation non-volatile memory market include-
Product Launch:
Collaborations and Partnerships:
Report Attributes | Report Details |
Study Timeline | 2019-2032 |
Market Size in 2032 | USD 15.57 Billion |
CAGR (2025-2032) | 18.7% |
By Type |
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By Wafer Size |
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By Application |
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By Region |
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Key Players |
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North America | U.S. Canada Mexico |
Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
Middle East and Africa | GCC Turkey South Africa Rest of MEA |
LATAM | Brazil Argentina Chile Rest of LATAM |
Report Coverage |
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The next generation non-volatile memory market is estimated to reach over USD 15.57 Billion by 2032 from a value of USD 4.59 Billion in 2024 and is projected to grow by USD 5.37 Billion in 2025, growing at a CAGR of 18.7% from 2025 to 2032.
The next generation non-volatile memory report includes specific segmentation details for type, wafer size, application, and regions.
In the next generation non-volatile memory market, the BFSI is the fastest-growing segment during the forecast period due to rapid digitalization as well as proliferation of IoT connected devices.
The key participants in the next generation non-volatile memory market are Renesas Electronics Corporation (Japan), Avalanche Technology, Inc. (USA), Crossbar Inc. (USA), Cypress Semiconductor Corporation (USA), Everspin Technologies Inc. (USA), Honeywell International Inc. (USA), IBM Corporation (USA), Intel Corporation (USA), Microchip Technology Inc. (USA), Micron Technology, Inc. (USA) and others.
The next generation non-volatile memory market is shaped by several key trends including trend towards more efficient and compact memory solutions as well as rising adoption of non-volatile memory solutions in modern automotive systems and other are the key trends driving the market.