Magneto Resistive RAM Market – Wearable Electronics is Primary Factor for Growth

Global Magneto Resistive RAM (MRAM) Market: Overview
MRAM or Magneto-resistive random-access memory technology has been under development since the 1990s. MRAM is a non-volatile random access memory technology that utilizes magnetic charges for storing data instead of electric charges as in the case of DRAM (dynamic random access memory) and SRAM (static random access memory) technologies. Unlike DRAM and SRAM technologies, that requires constant flow of electricity to maintain data integrity, MRAM retains data even if power is turned off and requires very less amount of electricity in order to store data bits in it.
MRAM, by combining the inherent advantages of both DRAM in terms of density and SRAM in term of read and write speed has the potential of becoming a universal memory in the coming years. The global MRAM market is predicted to have tremendous growth opportunity in the coming years as a nonvolatile solid state memory in order to replace other electrically erasable programmable read-only memory (EEPROM) and flash memory where high write endurance is required.
Surge in the demand of flexible and wearable electronics market is the primary factor predicted to boost the demand of MRAM during the forecast period from 2016 to 2024. Currently rapid technological advancements is taking place in the field to flexible and wearable consumer electronics. Flexible magnetic memories forms an integral part of the flexile and wearable consumer electronic devices for storing and processing data.
Moreover, the major challenge of fabricating high performing memory chips on soft flexible substrates without reducing the performance is also eliminated by technologically advanced MRAM technology. MRAM outperforms the traditional NAND memory used in wearable and flexible electronics in terms of data retention capacity after power cut off, low power consumption along with increased processing speed. In addition, MRAM has the capability of operating in extreme temperature condition and can resist very high radiation. Thus, MRAM is also predicted to witness huge demand from various aerospace and military applications in the coming years.
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Global Magneto Resistive RAM (MRAM) Market: Segmentation
For the purpose of providing detailed study of the market, the global MRAM market has been segmented on the basis of product type, application and geography. MRAM is available in two different product types including toggle MRAM and second generation MRAM (STT-MRAM). In order to track the market accurately, the third generation MRAM that is predicted to get commercialized by the beginning of 2019, has also been considered within the scope of research. MRAM also finds its application across different product segments such as consumer electronics, robotics, automotive, enterprise storage, aerospace and defense and others. The others segment includes application of MRAM in sensing devices, medical devices and smart meters.

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