Global Embedded Non-volatile Memory Market Size, Share, and COVID-19 Impact Analysis, By Product (eFlash, eE2PROM, FRAM, and Others), By Wafer Size (>100mm and <100mm), By Application (BFSI, Consumer Electronics, Government, Telecommunications, Information Technology, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global Embedded Non-volatile Memory Market Insights Forecasts to 2033

• The Global Embedded Non-volatile Memory Market Size was Estimated at USD 3.86 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 11.63% from 2023 to 2033
• The Worldwide Embedded Non-volatile Memory Market Size is Expected to Reach USD 11.60 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Embedded Non-volatile Memory Market Size was worth around USD 3.86 Billion in 2023 and is predicted to Grow to around USD 11.60 Billion by 2033 with a CAGR of roughly 11.63% between 2023 and 2033. Expanding artificial intelligence (AI) and machine learning (ML) technologies have fueled demand for eNVM.

Market Overview

The global embedded non-volatile memory (eNVM) market generally describes memory integrated into microcontrollers (MCUs), system-on-chips (SoCs), and other embedded systems, which are applied in markets such as automotive, industrial automation, consumer electronics, healthcare devices, and Internet of Things (IoT). Additionally, extending artificial intelligence (AI) and machine learning (ML) technologies has driven the demand for eNVM. AI and ML rely heavily on embedded memory to store algorithm parameters, neural network weights, and other vital information. eNVM solutions offer the speed and efficiency necessary for real-time processing in AI applications to enable quicker decision-making and better performance in devices from smartphones to autonomous vehicles. Smartphones, tablets, and wearables increasingly use eNVM to enable next-generation features such as augmented reality (AR), virtual reality (VR), and high-definition multimedia content. The high-speed data access and smooth user experience provided by eNVM are pivotal to fulfilling consumer demands for performance and reliability.

Report Coverage

This research report categorizes the global embedded non-volatile memory market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global embedded non-volatile memory market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global embedded non-volatile memory market.

Driving Factors

One of the key drivers is the growing need for small, low-power, and high-performance memory solutions in a range of applications such as consumer electronics, automotive, industrial automation, and IoT devices. As these markets increasingly adopt sophisticated technologies like artificial intelligence and machine learning, the demand for non-volatile memory solutions that provide faster access to data, low power consumption, and extended data retention becomes increasingly significant. Furthermore, the increased application of smartphones, wearable technology, and connected systems has boosted embedded NVMs such as flash memory, EEPROM, and MRAM adoption.

Restraining Factors

NVMs provide long-term data retention, their performance may decline over time as a result of wear and tear, particularly in applications with high write cycles, which restricts their lifespan and reliability.

Market Segmentation

The global embedded non-volatile memory market share is classified into product, wafer size, and application.

• The eFlash segment accounted for the largest revenue share in 2023 and is projected to grow at a remarkable CAGR during the forecast period.

In the terms of product, the global embedded non-volatile memory market is divided into eFlash, eE2PROM, FRAM, and others. Among these, the eFlash segment accounted for the largest revenue share in 2023 and is projected to grow at a remarkable CAGR during the forecast period. The segment growth is driven because eFlash memory has higher read and write speeds compared to conventional NVM technologies, this makes it extremely appropriate for applications that involve repeated data storage and retrieval, including microcontrollers for automotive electronics, IoT devices, and consumer electronics.

• The >100mm segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

In the terms of wafer size, the global embedded non-volatile memory market is divided into >100mm and <100mm. Among these, the >100mm segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growth in the segment is due to larger wafer sizes naturally providing greater manufacturing efficiency and economies of scale, which can lower production costs per chip substantially. This cost-effectiveness is important in the semiconductor market, where margins tend to be thin and demand for cost-effective solutions is high.

• The BFSI segment accounted for the largest share in 2023 and is projected to grow at a substantial CAGR during the forecast period.

In the terms of application, the global embedded non-volatile memory market is divided into BFSI, consumer electronics, government, telecommunications, information technology, and others. Among these, the BFSI segment accounted for the largest share in 2023 and is projected to grow at a substantial CAGR during the forecast period. BFSI solutions need strong security features to protect sensitive financial information, such as transaction history, customer data, and compliance information. Embedded non-volatile memory offers critical functions like secure storage, encryption keys, and boot mechanisms to guarantee data integrity and protection from cyber-attacks.

Regional Segment Analysis of the Global Embedded Non-volatile Memory Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global embedded non-volatile memory market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global embedded non-volatile memory market over the predicted timeframe.  The growth of consumer electronics, including smartphones, tablets, and wearables, is quickly expanding markets like China and India, propelling the demand for small yet high-performance memory solutions integrated into these devices. eNVM provides benefits including reduced power consumption, increased access speeds, and higher reliability than traditional non-volatile memory alternatives.

North America is expected to grow at the fastest CAGR in the global embedded non-volatile memory market during the forecast period. The region's substantial semiconductor industry and strong research and development (R&D) strength further propel innovation in eNVM technologies. Furthermore, the growing artificial intelligence (AI) and machine learning (ML) applications in North America have also fueled eNVM adoption since these technologies depend heavily on speedy and efficient memory solutions for storing and recovering data.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global embedded non-volatile memory market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Micron Technology, Inc.
• Samsung Electronics Co. Ltd
• Toshiba Electronic Devices & Storage Corporation
• Rohm Co. Ltd
• Honeywell International Inc.
• Western Digital Technologies, Inc.
• Crossbar Inc.
• Fujitsu Ltd.
• Japan Semiconductor Corporation
• HDD Manufacturers
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In September 2023, GlobalFoundries and Microchip announced the immediate release to production of the SST ESF3 third-generation embedded SuperFlash technology NVM solution in the GF 28SLPe foundry process. This solution is optimized for microcontrollers, smart cards, and IoT chips.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global embedded non-volatile memory market based on the below-mentioned segments: 

Global Embedded Non-volatile Memory Market, By Product

• eFlash
• eE2PROM
• FRAM
• Others

Global Embedded Non-volatile Memory Market, By Wafer Size

• <100 mm
• >100 mm

Global Embedded Non-volatile Memory Market, By Application 

• BFSI
• Consumer Electronics
• Government
• Telecommunications
• Information Technology
• Others

Global Embedded Non-volatile Memory Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa