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Farmington, March 03, 2023 (GLOBE NEWSWIRE) — The global NOR flash memory market is estimated at USD 28.7682 Million in 2022 and is projected to register a CAGR of 5.79% during the forecast period 2022-2030. NOR flash memory is a type of non-volatile electronic computer memory that can be erased and changed with electricity. The market is growing because there is a growing need for NOR flash in applications that need to write and read single bytes of data and need random access and execution location access. The main thing about NOR flash devices is that they can store between a few hundred megabits and a few hundred gigabits. NOR flash memory has also gained more customers over the years because of how reliable it is and how well it keeps data.
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The NOR flash market is growing because more and more people want consumer electronics and communication devices, and more and more electronics are being used in automotive and industrial uses. Additionally, applications of NOR flash memory are increasing in technologies such as Internet of Things (IoT), Active Matrix Organic Light-Emitting Diodes (AMOLEDs), and Liquid Crystal Displays (LCDs), as well as automotive, industrial and medical applications. ) will lead the market over the forecast period.
NOR Flash Market Recent Developments:
- September 2022—Wuhan Xinxin Semiconductor Manufacturing Co., Ltd. (hereinafter referred to as Xinxin), one of the leading NOR suppliers, launched XNOR-XM25LU128C, an ultra-small size, low-power SPI NOR Flash product, widely used in Vietnam Smaller and smaller IoT and wearable devices.
- August 2022 – Micron announces plans to invest $40 billion in multiple phases by the end of the decade to create cutting-edge memory manufacturing in the United States. This investment is expected to enable the world’s most advanced memory manufacturing in the United States. Micron expects to start manufacturing in the second half of this century, gradually increasing overall supply based on industry demand trends.
- August 2022 – Macronix International Limited, one of the leading integrated device manufacturers in the non-volatile memory (NVM) market, announces that its eight-flash memory MX66UW1G45GXDI00 provides critical flash memory for Renesas Electronics’ development platforms. Designers can develop advanced products by taking advantage of Macronix’s high-speed flash memory and Renesas’ latest cost-effective RZ/A3UL microprocessor (MPU) available on the new evaluation board. This cooperation will benefit the company’s future growth in the NOR Flash business.
NOR Flash Market Segmentation Analysis:
Since more code and data must be stored, the number of industrial applications employing NOR flash memory is increasing. Developers of electronic devices seek embedded memory options with a high storage capacity and a low price per gigabit. This is increasing the demand for built-in serial NOR flash memory. Numerous industrial devices, including security systems, military systems, and retail management products, utilize NOR flash memory to store data. Industrial manufacturers are exerting significant effort to implement IIoT in their factories so they can control the machinery there. This technology enables businesses to remotely monitor each machine during production. Internet of Things (IoT) and artificial intelligence (AI) are gaining prominence, thereby increasing the demand for intelligent processors and devices.
Regional Outlook:
China buys the most electronics of any country in the world. Several recent steps have also been taken in the business to boost production. For example, the Chinese government said in January 2021 that it wanted to grow the home market for electronic components to RMB 2.1 trillion (327 billion USD) by 2023. Also, the area is home to some of the biggest market players, like GigaDevice. China is one of the most hopeful places for the market because of all of these things. The area that was looked at is growing by NOR Many digital goods use flash memory to store the information about how they are set up. China’s electronics business is one of the biggest and has made a big difference in the country’s overall economic growth.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 5.79% from 2023 to 2030 |
| Market Size in 2022 | USD 28.7682 Million |
| By Type |
|
| By Density |
|
| By Applications |
|
| By Companies | Cypress Semiconductor Corporation, Integrated Silicon Solution Inc., Micron Technology, Inc., Winbond Electronics Corporation, Microchip Technologies, Inc., Macronix International Co., Ltd, JSC, Elite Semiconductor Microelectronics Technology Inc., Dialog Semiconductor, GigaDevice, and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Market Growth:
The rapid development of technology and the enormous amount of data being generated have significantly increased the demand for flash memory solutions that can readily manage large amounts of data. NOR flash memory satisfies nearly all of the requirements of the end user because it can be read and operates more rapidly than other memory technologies. NOR flash memory is one of two storage types that retain data when the power runs out. It is most frequently used in programs that must write and retrieve single bytes. Additionally, it is utilized in random access and execute-in-place access. The market for consumer electronics is expanding rapidly in both developed and developing nations.
NOR Flash Market Key Segments Covered:
Top Market Players:
Cypress Semiconductor Corporation, Integrated Silicon Solution Inc., Micron Technology, Inc., Winbond Electronics Corporation, Microchip Technologies, Inc., Macronix International Co., Ltd, JSC, Elite Semiconductor Microelectronics Technology Inc., Dialog Semiconductor, GigaDevice, and Others.
On the Basis of Type:
- Serial NOR Flash
- Parallel NOR Flash
On the Basis of Density
- Less than 250Mb
- 250Mb-1Gb
- More than 1Gb
On the Basis of Application:
- Telecommunication
- Networking, Industrial
- Automotive
- Smart Grid Space
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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