MRAM exceed performance, when compared to traditional NAND, and are much faster, consume lesser power, and are capable of retaining data, even in the absence of power. These memories provide immense scope for growth and have rapid reading and writing capabilities, as compared to DRAMs and SRAMs.
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The global Magneto Resistive RAM (MRAM) market size was valued at USD 307.5 million in 2016 and is presumed to gain traction over the forecast period. The increasing demand for wearables and flexible electronic products is expected to drive the growth for this sector.
These electronic products require flexible magnetic memories for processing and storing of data.
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MRAM exceed performance, when compared to traditional NAND, and are much faster, consume lesser power, and are capable of retaining data, even in the absence of power.
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In the coming years, the global market is expected to experience an accelerating growth rate, as it holds the potential to replace flash memory and other electrically erasable programmable read-only memory (EEPROM).
The introduction of new products, for embedded and standalone memories, is expected to offer an opportunity for growth, owing to their use in a variety of applications in the enterprise, consumer electronics, robotics, aerospace & defense, and industrial sectors, among others. The Spin Tunnel Torque MRAM (STT) products are expected to contribute to a majority of the growth of the market.
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The second-generation STT occupied a significant market share in the year 2015. This technology is predicted to remain as the preferred choice, owing to its capability of supporting a variety of applications.
Moreover, perpendicular Magnetic Tunnel Junction (pMTJ) STT are expected to make major contributions to the industry. This technology is to be launched, in the year 2017, by Everspin Technologies, Inc.
The market size for toggle type technology is expected to reach USD 1,197.5 million by 2025.
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