Magneto Resistive RAM (MRAM) Market Share, Size, Analysis, Trends and Forecast 2028

According to the latest report by IMARC Group, titled “Magneto Resistive RAM (MRAM) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The global magneto resistive RAM (MRAM) market size reached US$ 427.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 4,525 Million by 2028, exhibiting a growth rate (CAGR) of 44.5% during 2023-2028.

Magneto resistive random-access memory (MRAM), or magnetic RAM, refers to a non-volatile memory that utilizes magnetic charges to store information. Some widely available variants include spin-transfer torque and toggle MRAM. They use magnetic tunnel junction (MTJ), which consists of two magnetic layers separated by an insulation or dielectric layer. MRAM is a high-density and cost-effective RAM, and it also comprises of a capacitor and transistor that assist in retaining the information stored in the memory without a power source. Consequently, MRAM is widely used across several sectors, including robotics, automotive, aerospace, etc.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends:

The expanding consumer electronics industry is one of the key factors driving the magneto resistive RAM (MRAM) market. In line with this, the rising utilization of MRAM in numerous electronic gadgets, including workstations, smart wearables, smartphones, digital cameras, etc., is further catalyzing the market growth. Moreover, the escalating demand for magnetic RAM in the aerospace and defense sectors for high-temperature data storage is also augmenting the global market. Besides this, various product innovations, such as the development of low-power MRAM variants for radiation-hardened microchips, are acting as significant growth-inducing factors. Additionally, the increasing utilization of MRAM in miniaturized and customized integrated circuits (ICs) is positively influencing the market growth. Apart from this, the growing adoption of MRAM-embedded medical sensors for non-invasive diagnostic testing of several medical disorders is projected to fuel the magneto resistive RAM (MRAM) market over the forecasted period.

Breakup by Type:

• Toggle MRAM
• Spin-Transfer Torque MRAM (STT-MRAM)

Breakup by Offering:

• Stand-alone
• Embedded

Breakup by Application:

• Consumer Electronics
• Robotics
• Enterprise Storage
• Automotive
• Aerospace and Defense
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Competitive Landscape with Key Player:

• Avalanche Technology Inc.
• Crocus Nano Electronics LLC
• Everspin Technologies Inc.
• Honeywell International Inc.
• Infineon Technologies AG
• Intel Corporation
• NVE Corporation
• Qualcomm Incorporated
• Samsung Electronics Co. Ltd.
• Spin Memory Inc.
• Toshiba Corporation
• Tower Semiconductor Ltd.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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