Market Overview:

The Global NOR Flash Memory Market Is Estimated At USD 28.7682 Million In 2022 And USD 45.11 Million By 2030 With CAGR Of 5.79% During The Forecast Period 2022-2030.

NOR flash memory is a type of non-volatile memory used to store data for a wide range of applications, such as consumer electronics, automotive, and other fields that need memory storage. Devices with non-volatile memory don't need power to keep their data. NOR flash memory has a wide range of uses. It is used in low-end embedded code storage applications like dashboard instrument clusters and advanced driver assistance (ADAS) systems in automotive segments. NOR flash memory is also used a lot in medical devices and other applications that need a higher level of reliability, like remote monitoring and diagnosis. In the next few years, the low-code storage applications are expected to drive the growth of the NOR flash memory market. Growing technological progress in the semiconductor industry is also expected to make the NOR flash memory market more profitable. But problems with high-density code storage application compatibility and higher costs than other solutions on the market are expected to slow the market's growth over the next few years.

If the address and data bus are mapped correctly, reading from NOR flash is the same as reading from random-access memory. As an execute in place (XIP) memory, most microprocessors use NOR flash memory for this. It means that programs stored in NOR flash can be run right from NOR flash, without having to be copied to RAM first. Every digital computer system needs memory that doesn't lose its information when the power goes out or the system shuts down. This is so that data doesn't get lost.

Market Dynamics:

Market Trends:

• Growing Demand for Automotive Applications

NOR flash memory is used in things like infotainment systems, instrument clusters, and advanced driver-assistance systems. This is because cars are getting more and more electronic (ADAS).

• Increasing Adoption of IoT Devices

The growth of the Internet of Things (IoT) has led to a need for reliable, low-power memory solutions for connected devices. NOR flash is used in IoT devices like smart home appliances, wearables, and industrial automation systems because it can be read quickly, can execute code in place, and can last for a long time.

Driving Factors:

• Surging Demand for Smartphones and Smart Wearables

Non-volatile memory is mostly used in smart technologies and consumer electronics. To store data, many connected devices, wearable devices, and other portable devices use memory solutions with a high data transfer rate and a lot of storage space. Flash memory provides a high-speed serial interface and optimized protocol that significantly improves throughput and overall system performance. It is made with a high-performance interface for mobile devices and other applications that need to use less power. With these features, a new generation of devices can be made that work quickly and last longer on a single charge, whether the user is taking photos, recording videos, asking for directions, talking to friends and coworkers, or just looking at data stored on the device. Next-generation wearables like smartwatches and glasses are also starting to use NVM. It is highly preferred for applications that need less density, like streaming media devices, smart speakers, printers, wearables, and Internet of Things (IoT) devices, because it can store a lot of data and work well. For example, Samsung (South Korea) has started making 3D NAND flash memories in large quantities, which are widely used in applications for connected devices. Micron Technology, Inc. in the US released SLC NAND flash with built-in apps for the IoT market. Other companies, like Adesto Technologies (US) and Everspin Technologies (US), are also focusing on offering dedicated memory solutions for IoT and wearable sensors. According to the Semiconductor Industry Association, the demand for memory chips, logic chips, and ICs grew by more than 20% in 2021. About 45% of the demand for semiconductors around the world came from consumer electronics like smartphones, PCs, laptops, and smart wearables. Also, more than one-third of this need was for memory chips. So, the recent rise in demand for consumer electronics, especially smartphones, AI/NLP-integrated home entertainment, infotainment, security systems, appliances, and PCs, is likely to drive the demand for non-volatile memory around the world.

• Increasing Need for Advanced Features

Because technology is changing quickly and there is a lot of data being made, there is a lot more demand for flash memory solutions that can handle a lot of data efficiently. NOR flash memory meets almost all of the needs of end users because it reads faster and works better than other memory technologies. The consumer electronics market is growing quickly in both developed and developing countries. This is mostly due to technological advances and smart features in modern devices, which are driving the market growth.

Restraints/Challenges:

• Decline in the Growth of the Semiconductor Industry

In September 2022, the Semiconductor Sector Association (SIA) said that sales in the semiconductor industry around the world in July 2022 added up to USD 49.0 billion. This was 7.3% more than the USD 45.7 billion in July 2021, but 2.3% less than the USD 50.2 billion in June 2022. The low demand from consumers has led to a drop in sales of laptops, Chromebooks, TVs, and smartphones, as well as an increase in client stock. Strong spending on SSDs by businesses has continued, which has helped make up for weak demand from consumers. Even though the average capacity of smartphones is still going up, the drop in shipments has killed demand for mobile NAND Flash. This is because consumers aren't buying as many phones. Because PC customers keep lowering their shipment expectations, client SSD shipments have stayed the same. So, it looks like geopolitical tensions between the US, Taiwan, and China, the war between Russia and Ukraine, and rising inflation will hurt demand in the last two quarters of FY2022. This will slow the growth of the non-volatile memory market.

• Optimization of Storage Densities and Capacities

Memory storage density stores bits of information on a computer storage medium. Higher-density memory is in higher demand because it can store more data in the same amount of space. Thus, storage density directly correlates with a given medium's storage capacity. Storage density has a pretty direct effect on both price and performance.

When it comes to scaling, high-density memories like RRAM, NAND flash, and NVDIMM have a lot of problems. Scalability is the ability of a product to keep working well even if its size or capacity changes. The required levels of endurance, noise margin, and reliability cannot be met by these memories. There have also been problems with scaling flash memory that have been hard to solve. Also, high-density nonvolatile memories can only hold a certain number of electrons. At the moment, this problem is having a big effect, but that is likely to change soon.

• High Costs

NOR flash memory costs more than NAND and has a smaller space for code saturation. Aside from that, NOR flash memory needs more power when it is first turned on. Both of these things slow the growth of the market. But NOR needs a lot less power when it is just sitting there.

• Availability of Substitutes

Over the next few years, the NOR Flash Memory market is likely to drop a lot as reserves grow and demand goes down. Since the pandemic, there have been shortages of semiconductors and other memory products like DRAM and NAND. This has increased the demand for and average selling prices of NOR flash products, and increased competition among the top market players has slowed market growth.

Opportunities:

• Advent of Innovative Technologies For IoT Applications

Market players have a big chance to make a lot of money as non-volatile memories start to replace traditional memories. Traditional memory technologies like DRAM and flash have taken up a large portion of the market for memory technologies. The Non-Volatile Memory Industry is going through a big change right now because new technologies are replacing traditional memories like DRAM and flash more and more. Traditional flash memory has problems, like a slow switching rate, a high latency, and a low ability to grow. Floating gate technology limits how small they can get below 90 nm, and they use more power than other new memory technologies. Flash memories are used in smartphones, tablets, and PDAs at the moment. 3D NAND, ReRAM, NRAM, and MRAM are the main alternatives to flash memories. They are better than flash memories in terms of latency, switching time, endurance, write cycle, and data retention. A lot of these technologies are used in AI and IoT solutions that work together. A NVM that supports fast writes and can be shut down fully but quickly restarted. MRAM is a good choice for IoT and AI applications because it has better capacity, density, power needs, writing speed, and read latency. While ReRam is good for computing that takes place in memory. Fujitsu and Panasonic are working together to make a new ReRAM device for the second generation. Also, the Chinese company SMIC is working on a 40 nm ReRAM technology that Crossbar Inc. is testing.

• Increasing Demand for Various Industries

NOR flash memories are being used more and more in data-heavy ways in many different industries around the world. This, along with the growing popularity of mobile devices and connected technology, is expected to drive up demand for NOR flash memories. Furthermore, high-performance NOR flash technologies enable memory hierarchy simplification, which can be used for incorporating non-volatility in logic circuits, resulting in NOR flash memories finding new applications in hardware security and neuromorphic computing.

Strategic Development:

• In September 2022 - Xinxin Semiconductor Manufacturing Co., Ltd. (hereafter called "Xinxin"), one of the leading NOR suppliers, released XNOR-XM25LU128C, an ultra-small size, low-power SPI NOR Flash product that is widely used in Vietnam's smaller and smaller IoT and wearable devices.
• In August 2022 - Micron says it will spend $40 billion over several years until the end of the decade to make the United States a world leader in memory manufacturing. With this investment, the United States should be able to make the most advanced memory in the world. Micron plans to start making chips in the second half of this century, with a gradual increase in overall supply based on demand trends in the industry.
• In August 2022 - Macronix International Limited, one of the top integrated device makers in the market for non-volatile memory (NVM), announces that its eight-flash memory MX66UW1G45GXDI00 is a key part of the development platforms for Renesas Electronics. On the new evaluation board, designers can use the high-speed flash memory from Macronix and the latest, low-cost RZ/A3UL microprocessor (MPU) from Renesas to make more advanced products. This partnership will help the company grow in the NOR Flash business in the future.
• In October 2018 - 1.8V high-speed serial NOR flash memory was released by Cypress Semiconductor Corporation, a division of Infineon Technologies AG. This gives the high densities, flexibility, and quick performance that many mobile and embedded applications need.
• In May 2018 - Intel Corporation signed a contract with Micron Technology Inc. for production and shipment of the industry's first 4bits/cell 3D NAND technology. These companies also said that the third-generation 96-tier 3D NAND structure was in the works.
• In February 2018 - SK Hynix Inc. has finished making an enterprise SATA solid-state drive (eSSD) with a 72-layer storage 512Gb 3D NAND flash memory chip. This was done. This has helped the company fully enter the eSSD market for products with high added value.

Key Vendors:

Top market players are

• Cypress Semiconductor Corporation

The Cypress Semiconductor Corporation designs, develops, makes, and sells a range of digital and mixed-signal integrated circuits. The data communications, telecommunications, computer, and instrumentation systems markets all use the company's circuits. Through a network of sales offices, distributors, and sales representative firms, Cypress sells its products all over the world.

• Integrated Silicon Solution Inc.

Integrated Silicon Solution, Inc. makes and sells memory devices like standard access memory (SRAM), specialty dynamic random access memory (DRAM), and nonvolatile memory (NVM). The company also designs, develops, and sells embedded memory devices like voice recording chips and some microcontroller devices.

• Micron Technology Inc.

Through its subsidiaries, Micron Technology, Inc. makes and sells dynamic random access memory (DRAM) chips, static random access memory (SRAM) chips, flash memory, semiconductor components, and memory modules.

• Winbond Electronics Corporation

The headquarters of Winbond Electronics Corporation are in Taichung, Taiwan. It is a leading global provider of semiconductor memory solutions. Winbond's main products are Specialty DRAM, Mobile DRAM, and Code Storage Flash Memory

• Microchip Technologies Inc.

Microchip Technology Inc. is a leading semiconductor company that makes smart, connected, and secure embedded control solutions. Its easy-to-use development tools and wide range of products allow customers to make the best designs, which reduces risk while lowering total system cost and time to market.

• Macronix International Co. Ltd

Macronix, the leading provider of Non-Volatile Memory solutions, produces an expansive range of NOR Flash, NAND Flash, and ROM products. Macronix keeps making high-quality, innovative, and performance-driven products that are perfect for a wide range of uses, including computing, consumer, networking, industrial, mobile, embedded, automotive, and the Internet of Things (IoT).

• JSC

JSC is a professional service company that helps foreign companies with investments in China run their businesses. With the strength of our professionals and experienced employees, they offer the expertise to help the clients find their footing in Chinese market.

• Elite Semiconductor Microelectronics Technology Inc.

ELITE SEMICONDUCTOR MEMORY TECHNOLOGY INC. is a company based in Taiwan. Its main business is to design, research, develop, make, sell, and provide technical services for integrated circuits (ICs).

• Dialog Semiconductor

Dialog Semiconductor is one of the most important companies that makes standard and custom integrated circuits (ICs) that power applications for the Internet of Things (IoT) and Industrial IoT. Dialog's proven expertise drives the next generation of today's devices by providing Battery Management, Bluetooth low energy, Wi-Fi, Flash memory, and Configurable Mixed-signal ICs, which improve power efficiency.

• GigaDevice

A company called GigaDevice makes products with semiconductors. It has microcontrollers, SPI NOR Flash, SPI NAND Flash, and MCU that can be used in embedded, consumer, and mobile communications applications.

Segmentation Analysis:

The market is segmented on the basis of type, density, application, end-user and region.

By Type Outlook:

Parallel NOR flash memory and serial NOR flash memory are the two types of NOR flash memory. Parallel NOR flash has a wider data bus width and is typically used in applications that require high-performance read and write operations. Serial NOR flash, on the other hand, has a narrower data bus width and is often used in situations where the number of pins, the size of the package, and the amount of power used are important.

• Serial NOR Flash
• Parallel NOR Flash

By Density:

There are different densities of NOR flash memory, from a few megabits to several gigabits. How much density is needed depends on the application and how much data needs to be stored. When storing more code or data, applications often choose NOR flash with a higher density.

• Less than 250Mb
• 250Mb-1Gb
• More than 1Gb

By Application Outlook:

By use, the market is divided into Smartphone, Digital Camera, USB Flash Drives, Solid-State Drives, Tablet & Laptops, Gaming Consoles, Media Players, and Others. The smartphone segment accounted for the largest market share in 2019. In the past ten years, the number of people using smartphones has grown at a very fast rate. This is because smartphones have a lot of useful features. Flash memories are an important part of smartphones because they can store important information without using any power. Professional and personal photography is one of the most sought-after jobs in the world. And because technology has improved in the field, there are now a lot of digital cameras on the market. USB flash drives can be taken out and put back in, and they are very small, so they are a good way to store data. USB flash drives are usually used to store data, move data, and back up data. The main job of solid-state drives in computers is to store data. Solid-state drives have been widely used in computers because they are resistant to shock, run quietly, and can be accessed quickly. In the last ten years, the number of people who use tablets and laptops for work and for fun has grown a lot.

• Smartphone
• Digital Camera
• USB Flash Drives
• Solid-State Drives
• Tablet & Laptops
• Gaming Consoles
• Media Players
• Others

By End-User:

NOR flash finds application in a variety of industries, including automotive, consumer electronics, industrial, telecommunications, and aerospace. Each industry may have different needs for NOR flash, such as a certain range of temperatures, reliability, durability, and security features.

• Automotive
• Consumer Electronics
• Industrial
• Telecommunications
• Aerospace

Regional Insights:

China buys the most electronics of any country in the world. Several recent steps have also been taken in the industry to boost production. For example, the Chinese government said in January 2021 that it wanted to grow the domestic market for electronic components to RMB 2.1 trillion (327 billion USD) by 2023. Furthermore, the region is home to some of the largest players in the market such as GigaDevice. China is one of the most promising places for the market because of all of these things. The market that was looked at is growing by NOR Many digital products use flash memory to store the information about how they are set up. China's electronics industry is one of the biggest and has made a big difference in the country's overall economic growth.

The global NOR Flash market has been looked at in different parts of the world, like North America, Europe, Asia-Pacific, Latin America, the Middle East, and India. In the near future, this market will be dominated by the global region.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• In the Global NOR Flash Memory Market Report, a whole section is devoted to market dynamics, which include factors that affect the market, drivers of the market, challenges, opportunities, and trends.
• Another large part of the research study is devoted to a regional analysis of the Global NOR Flash Memory market. This is where important regions and countries are analyzed for their growth potential, consumption, market share, and other important factors that show how their markets are growing.
• Players can use the competitive analysis in the report to come up with new strategies or improve the ones they already have. This will help them overcome market challenges and increase their share of the Global NOR Flash Memory market.