Nowadays, hardware manufacturers are developing new products with enhanced performance and services to connect and attract more end users, resulting in occupying larger market share. Non-volatile random-access memory (NVRAM) is a memory that saves the stored data even after the power is off.
Today, with the increasing need of power the time has come for alternative technologies. As compared to NVRAM, other technologies such as DRAM and SRAM can hold data only when power is available.
However, NVRAM using a 24-pin (DIP) integrated circuit chip, helps it to gain the power required to function from a small and more reliable battery called CMOS on the motherboard. Moreover, very less power is required in case of NVRAM.
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The demand for high performance with reliability and endurance in mobile devices promises significant growth opportunity for Nonvolatile Random Access Memory Market. The growing demand of smartphones in developing countries such as India and China is expected to drive the growth of non-volatile random access memory market.
Moreover, it provide excellent performance when compared to other non-volatile memory products is one of the major driver of NVRAM.
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NVRAM requires a battery that will eventually need to have the battery replaced which is expected to hinder the growth of the market in the near future.On the basis of type, the NVRAM market is segmented into SRAM, MRAM and FRAM.
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On the basis of end-use application, NVRAM market is segmented into communication industry, computer /IT sector, consumer electronics industry, automotive sector and others. Consumer electronics industry can be further sub-segmented into PCs, laptops, smartphones, and tablets.On the basis of vertical, NVRAM Market can be segmented into BFSI, retail, telecommunication, healthcare, media and entertainment, military and others.On the basis of region, NVRAM Market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.
Asia Pacific is expected to be the largest market of global NVRAM market, due to increasing popularity of mobile devices across the developing countries, followed by North America as majority of NVRAM companies such as Cypress Semiconductor Corporation, Maxim Integrated and Everspin Technologies Inc are based in North America region and they are also investing in the field of NVRAM of local market. Further, the market is expected to witness higher growth in regions such Europe and Middle East.
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