The global memristor market has been segmented on the basis of product type and industry vertical. By product type, the market is further segmented into molecular & ionic film memristor and spin based & magnetic memristor.
Global Memristor Market Report, published by Variant Market Research, forecast that the global market was valued at $4 million in 2016 and is expected to reach $465 million by 2024; growing at a CAGR of 80.1% from 2016 to 2024.
Memristor is type a memory device, having capability to work as a resistor in the circuit. The significant feature of memristor is that, it has the ability to retain its resistance value during power cut.
Several memristor applications such as short read & write timing, compact size, and high retention is raising the popularity of memristors circuits among wide application areas such as IT & telecommunication, defense, electronics, industrial, automotive, and healthcare.
Increase in demand for compact memristor memory devices in smart watches and other wearable devices show an increasing memristor market trend in the near future.
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Upsurge in demand for industrial robot drives the global memristor market
Benefits of memristor over other memories, upsurge in demand for industrial robots that require memory element, growth in number of data centers, and evolution in number of portable electronic products where memristor has arisen as an auxiliary of non-volatile memories are the primary key factors driving the global memristor market growth. However, high initial cost and dissimilarity of understanding among stakeholders are the facts that may restrict the market growth.
Moreover, increasing awareness about technological improvements and revolutions in computers, and growth in trend of Internet of Things (IoT) may generate numerous growth opportunities for the market.
The global memristor market is classified on the basis of product type, industry vertical, and geography. On the basis of product type, the market comprises ionic film memristor & molecular, and magnetic & spin based memristor.
By industry vertical, the market is segmented into automotive, electronics, healthcare, aerospace & defense IT & telecommunication, and industrial. North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major geographical segments of the memristor market.
Molecular & Ionic film memristor dominated the product type segment
In 2016, by product type, molecular and ionic film memristor segment accounted for more than half of the global market share. Though, the spin based & magnetic memristor segment is projected to grow at the fastest CAGR during the forecast period.
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Electronics occupied the major memristor market share in the industry vertical segment
The memristor market industry analysis states that, electronics subjugated the accounting for more than one third of the total market revenue in 2016, owing to its increasing demand in smartphones and other electronic gadgets.
North America accounted for major market share
The global memristor market forecast that North America dominated the market with highest share of 38.7% in 2016, and is estimated to endure its dominance during the forecast period i.e. 2016 – 2024. The growth is majorly seen due to technological advancement and replacement of flash memory and D-RAM with memristors, in countries such as U.S.
and Canada. Asia-Pacific stood for the second largest market share, due to the increase in industrialization and upsurge in demand of automation in industrial processes in China and South Korea. Furthermore, in terms of growth, Rest of the World (RoW) is likely to grow at the fastest CAGR of 146.8%, driven by increasing R&D in electronics and automotive sectors in countries such as Ethiopia, Egypt, and Serbia during the forecast period 2016 – 2024.
Knowm Inc. acquired BSU/Campbell Memristor technology which was previously licensed to Bio-Inspired Technologies i.e. (Neuro-Bit Memristor). Major companies profiled in the market are Intel Corporation, Samsung, L.P., Knowm Inc., SanDisk Corporation, Panasonic Corporation, Toshiba Corporation, Micron Technology, Sk Hynix Inc., and Rambus Incorporated, among others.
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Scope of Memristor Market
Product Type Segments
- Molecular & Ionic Film Memristor
- Spin Based & Magnetic Memristor
Industry Vertical Type Segments
- IT & Telecommunication
- Aerospace & Defense
- North America
- South Korea
- South America
- Middle East
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