Wilmington, Delaware, May 03, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Memristor Market by Type (Molecular and Ionic Thin Film Memristors and Spin and Magnetic Memristors), and Industry Vertical (Consumer Electronics, IT and Telecommunication, Automotive, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the memristor market was valued at $0.2 billion in 2023, and is estimated to reach $9.7 billion by 2032, growing at a CAGR of 51.93% from 2024 to 2032.
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- 125 – Tables
- 47 – Charts
- 250 – Pages
Prime Determinants of Growth
The memristor market is expected to witness notable growth owing to increase in demand for IoT, cloud computing, and big data. Moreover, rise in adoption of edge computing solutions is expected to provide lucrative opportunities for the growth of the market during the forecast period. However, the complexity in technological application limits the growth of the memristor market.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $0.2 billion |
| Market Size in 2032 | $9.7 billion |
| CAGR | 51.93% |
| No. of Pages in Report | 250 |
| Segments Covered | Type, Industry Vertical, and Region |
| Drivers | Rise in Demand for IoT, Cloud Computing, and Big Data Rise in Demand for Application of Automation Robots |
| Opportunity | Rise in Adoption of Edge Computing Solutions |
| Restraint | Complexity in Technological Application |
The molecular & ionic thin film memristors segment to maintain its leadership status during the forecast period
On the basis of type, the molecular & ionic thin film memristors segment held the highest market share in 2023, accounting for nearly three-fifths of the global memristor market revenue and is estimated to maintain its leadership status during the forecast period, owing to their potential to revolutionize electronics by offering ultra-compact, low-power, and high-density memory solutions. These thin film memristors enable advancements in wearable devices, IoT applications, and neuromorphic computing, driving innovation and market growth in semiconductor technologies. However, the spin and magnetic memristors segment is projected to attain the highest CAGR of 52.52% from 2023 to 2032.
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The IT and Telecom segment to maintain its leadership status during the forecast period.
On the basis of industry vertical, the consumer electronics segment held the highest market share in 2023, accounting for more than two-fifths of the global memristor market revenue and is estimated to maintain its leadership status during the forecast period, owing to the widespread adoption of memristor in tablets, watches, smartphones and other smart wearable devices globally. However, the others segment is projected to attain the highest CAGR of 57.21% from 2023 to 2032.
North America to maintain its dominance by 2032.
On the basis of region, North America held the highest market share in terms of revenue in 2023, accounting for nearly one-third of the memristor industry revenue owing to the high rate of investment in R&D by local players and the highly informed integrator base of memristor components compared to other regions. Many of the prominent market players are US-based, and the country is also one of the most prominent contributors to a majority of the applications of memristors, including neuromorphic computing, automotive, flexible electronics, IoT, edge computing, and industrial robotics in the recent past.
However, Asia-Pacific is projected to manifest the highest CAGR of 54.35% from 2023 to 2032 owing to developments and innovations in the regional neuromorphic computing, IoT, and storage memory market, especially by local players, are anticipated to augment the market growth for the memristor technology. Moreover, rise in demand for consumer electronics products in the Asia-Pacific region is expected to accelerate the growth of the global memristor market.
Leading Market Players: –
- Crossbar Inc.
- Panasonic Corporation
- 4DS Memory Limited
- Micron Technologies Inc.
- Samsung Group
- Sony Corporation
- Intel Corporation
- IBM Corporation
- SK Hynix Inc.
- Toshiba Corp.
The report provides a detailed analysis of these key players in the global Memristor Market. These players have adopted different strategies such as product launch, product development, partnership, investment, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits For Stakeholders:
- This memristor industry report provides a quantitative analysis of the memristor chip market segments, current trends, estimations, and dynamics of the memristor market analysis from 2023 to 2032 to identify the…
Read More: Memristor Market to Reach $9.7 billion, Globally, by 2032
2024-05-04 01:30:00