Emerging storage market size climbs to $44 billion

Emerging memory has already started to grow and should climb to about $44 billion by 2032. This is the semiconductor market to watch over the next decade, and those involved in this market can plan for significant growth.

 

Memory makers and foundries aren't the only companies that need to consider getting involved if they don't want to be left behind by this shift. Designers and users of SoCs are already incorporating these new nonvolatile memories into cutting-edge designs to achieve more competitive power consumption and system responsiveness. Those who take this approach will enjoy a huge market advantage.

 

The emerging memory market will initially grow to the $44 billion level by replacing incumbent technologies including NOR flash, SRAM and DRAM. The new memories will replace standalone memory chips and embedded memories in microcontrollers, ASICs and even computing processors, which will then grow into new markets of their own.

 

Designers of all types of systems are finding that emerging memories offer new advantages that were previously unavailable, and the Internet of Things will revolutionize as new embedded memory types reduce power consumption. Larger systems are already changing their architecture to employ persistent memory to improve latency and data integrity.

 

Embedded ReRAM and MRAM will compete to replace most of the embedded NOR and SRAM in SoCs, driving greater revenue growth.

 

Many emerging memory types require new tools to support different materials and processes, which will provide growth drivers for the capital equipment market. The industry's migration to emerging memory technologies will kick off a solid foundation. Capital equipment spending increased. By 2032, total MRAM manufacturing equipment revenue will grow to more than 49 times the total in 2021, reaching approximately $1.5 billion.