Magneto Resistive RAM (MRAM) Market Trends

Growth Drivers

Potential to Replace Alternate Memory Products to Boost the Market Growth

Increase in research activities to develop innovative read access memory products such as embedded and discrete MRAMs fuels the growth of market. Additionally, the magneto resistive RAM (MRAM) holds the potential to replace flash memory and other electrically erasable progRAMmable read-only memory (EEPROM). This is anticipated to significantly expand the magneto resistive RAM (MRAM) market.

Growing Demand in Electronic Devices and Aerospace Industry to Drive the Market Growth

There is an increased demand for low-cost, small-size, power-efficient MRAMs in electronic, aerospace, defence and military systems owing to its favourable physical characteristics such as endurance to high radiation, operation in extreme temperature, tamper-resistant and faster computing. Additionally, its applications in enterprise storage solutions reduces the overall system downtime which further spurs the market growth. On the back of these, the global magneto resistive RAM (MRAM) market is predicted to grow over the forecast period.

Challenges

High Costs and Complex Interface to Hamper the Market Growth

Despite the technological advancements, there is a high cost involved in designing and manufacturing which negatively affect the market growth. Further, the interface problems associated with memory is estimated to hinder the growth of market in the future.