Global Memristor Market Is Projected To Boost In The Coming Years, Driven By Larger Data Storage Cap

Global Memristor Market Report, published by Variant Market Research, forecast that the global market is expected to reach $465 million by 2024 from $4 million in 2016; growing at a CAGR of 80.1% from 2016 to 2024. By geography, Asia-Pacific and Rest of the World (RoW) are expected to grow at a CAGR of 80.8% and 146.8%, respectively, during the forecast period.
Increasing demand for larger data storage capacity chips and the problem of heat generation in devices owing to higher densities are the factors supporting the growth of the global memristor market. Moreover, increasing adoption and awareness of industrial robots also growing the demand for advance and compact memory. However, lack of skilled professionals would restraints the growth of the global memristor market. Additionally, increasing consumer awareness regarding technological innovations and rising capability of memristors to replace the growing number of transistors on a circuit would provide the growth opportunities for the market in the upcoming years.
The global memristor market has been segregated into product type and industry vertical. By product type, the market is categorized into molecular & ionic film memristor and spin based & magnetic memristor. By industry vertical, the market is bifurcated into electronics, industrial, healthcare, IT & telecommunication, automotive, and aerospace & defense. In 2016, electronics dominated the industry vertical segment accounting for more than one-third of the total market revenue. Additionally, rising demand for smartphones and other electronic gadgets have due to the global memristor market.
Geographically, the global memristor market is segregated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America accounted for the largest market share of 38.7% in 2016. Additionally, it is expected to continue its dominance during the forecast period. The growth is majorly due to technological advancement and replacement of flash memory and D-RAM with memristors, in countries such as U.S. Moreover, Asia-Pacific accounted for the second largest market share. Rest of the World is anticipated to grow at the fastest CAGR during the forecast period 2016-2024.
The major key players operating in the global memristor market are HP Development Company, Intel Corporation, Panasonic Corporation, Samsung, Knowm Inc., Micron Technology, Inc., SanDisk Corporation, Rambus Incorporated, Toshiba Corporation, Sk Hynix Inc., L.P., among others.
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