“Global Memristor Market to reach a market value of USD 5.7 Billion by 2031 growing at a CAGR of 47.7%”
The Global Memristor Market size is expected to reach $5.7 billion by 2031, rising at a market growth of 47.7% CAGR during the forecast period.
North America attracts significant venture capital investment in technology startups and innovative companies. Thus, the North America region acquired 39.3% revenue share in the market 2023. Many memristor-related startups receive funding to develop and commercialize memristor-based products and solutions, driving innovation and market growth in the region. Also, major companies, research institutions, and startups are actively involved in developing and commercializing memristor technology for various applications such as memory, computing, and neuromorphic systems.
The foundation of the digital economy is data centers need high-density storage options in order to effectively store and handle enormous volumes of data. Memristors enable denser storage configurations, reducing the physical footprint and energy consumption of data center infrastructure while improving overall performance and reliability.
Additionally, according to the International Trade Administration (ITA), in 2023, the UK's ICT industry had $170 billion in digital tech annual turnover. It is the second-largest ICT industry in terms of ICT spending per head ranking. Over 100,000 software companies are in the industry. Therefore, the ICT and telecom industries are crucial in boosting the market.
However, Established technologies such as NAND flash, DRAM, and hard disk drives (HDDs) have dominated the memory and storage industry for decades. These technologies have well-established supply chains, manufacturing processes, and infrastructure, making it difficult for new entrants like memristors to gain market share.
Based on type, the market is characterized into molecular & ionic thin film memristors and spin & magnetic memristors. The molecular & ionic thin film memristors segment garnered 58.8% revenue share in the market in 2023. Molecular and ionic thin film memristors offer advantages in terms of high performance.
On the basis of industry vertical, the market is classified into consumer electronics, IT & telecommunication, automotive, healthcare, and others. The healthcare segment recorded 7.8% revenue share in the market in 2023. With memristor-based technologies, healthcare providers can collect and analyze large datasets from individual patients, leading to personalized treatment plans.
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment garnered 24.6% revenue share in the market in 2023. Asia Pacific countries, particularly China, Japan, South Korea, and Taiwan, are at the forefront of technological innovation.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 253.1 Million |
| Market size forecast in 2031 | USD 5.7 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 47.7% from 2024 to 2031 |
| Number of Pages | 192 |
| Number of Tables | 270 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Industry Vertical, Region |
| Country scope |
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| Companies Included | Sony Corporation, Toshiba Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Panasonic Corporation, Micron Technology, Inc., IBM Corporation, Intel Corporation, SK Hynix Inc., Honeywell International Inc. and Everspin Technologies, Inc. |
By Type
By Industry Vertical
By Geography
This Market size is expected to reach $5.7 billion by 2031.
Demand for high-density storage and non-volatile memory are driving the Market in coming years, however, Competition with established technologies restraints the growth of the Market.
Sony Corporation, Toshiba Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Panasonic Corporation, Micron Technology, Inc., IBM Corporation, Intel Corporation, SK Hynix Inc., Honeywell International Inc. and Everspin Technologies, Inc.
The expected CAGR of this Market is 47.7% from 2023 to 2031.
The Consumer Electronics segment is leading the Market by Industry Vertical in 2023; thereby, achieving a market value of $2.3 billion by 2031, growing at a CAGR of 46.8 % during the forecast period.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2.2 billion by 2031.
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