North America Embedded Non-Volatile Memory Market
Published On: Jun 2024
Published On: Jun 2024
According to Business Market Insights’ research, the North America embedded non-volatile memory market was valued at US$ 206.76 million in 2022 and is expected to reach US$ 1,110.56 million by 2030, registering a CAGR of 23.4% from 2022 to 2030. Growing investment in commercialization of embedded non-volatile memory and increasing demand in low-power IOT modules are among the critical factor attributed to the North America embedded non-volatile memory market expansion.
The expansion of consumer electronics and automotive industries is boosting the demand for embedded non-volatile memory among manufacturers. The growing demand for embedded non-volatile memory among automotive manufacturers encourages market players to increase their production and commercialize embedded non-volatile memory. For instance, in October 2023, Floadia Corporation raised approximately US$ 7.04 million (JPY 1.05 billion) in funding from Japan Finance Corporation, Cypress Capital, and Inabata & Co. for commercializing its embedded flash memory IP. This funding will support Floadia Corporation in strengthening its production and sales activities by promoting its primary business of embedded flash memory IP cores. Floadia Corporation increases the production of embedded non-volatile memory to fulfill the growing need of semiconductor manufacturers. Moreover, many international and domestic players are raising funding for developing embedded non-volatile memory tech. For instance, in March 2023, ANAFLASH, a U.S.-based startup company, announced the commercialization of eFlash for several battery-powered devices. eFlash is a low-cost and energy- efficient embedded non-volatile memory technology used numerous battery-powered devices such as medical wearables, wireless sensors, and various autonomous robots, which further fulfills the future need for computing technologies. These factors are expected to boost the embedded non-volatile memory market growth in the near future.
On the contrary, global shortage of semiconductor chips hurdles the growth of North America embedded non-volatile memory market.
Based on product, the North America embedded non-volatile memory market is categorized into eFlash, eE2PROM, FRAM, and others. The eFlash segment held 37.6% market share in 2022, amassing US$ 77.65 million. It is projected to garner US$ 379.05 million by 2030 to expand at 21.9% CAGR during 2022–2030.
In terms of application, the North America embedded non-volatile memory market is segmented into consumer electronics, automotive, robotics, and others. The others segment held 35.6% share of North America embedded non-volatile memory market in 2022, amassing US$ 73.52 million. It is projected to garner US$ 338.35 million by 2030 to expand at 21.0% CAGR during 2022–2030.
Based on country, the North America embedded non-volatile memory market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 74.6% share of North America embedded non-volatile memory market in 2022. It was assessed at US$ 154.28 million in 2022 and is likely to hit US$ 844.53 million by 2030, exhibiting a CAGR of 23.7% during 2022-2030.
Key players operating in the North America embedded non-volatile memory market are Microchip Technology Inc, Tower Semiconductor, GlobalFoundries Inc, eMemory Technology Inc, Texas Instruments Inc, Hua Hong Semiconductor Ltd, Taiwan Semiconductor Manufacturing Co Ltd, United Microelectronics Corp, Semiconductor Manufacturing International Corp, and Synopsys Inc, among others.
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