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(IT-NEWSWIRE.COM, March 22, 2018 ) According to Publisher’s analyst, the global MRAM market is anticipated to grow rapidly and will post a CAGR of close to 94% during the forecast period. The increasing adoption of cloud-based storage by various enterprises will drive the growth prospects for the global MRAM market until the end of 2021. The growing need for storage capacity for commercial data propels the demand for cloud computing applications, which, in turn, drives the adoption of MRAM on a global level. In addition, some of the major factors responsible for the growing adoption of MRAM is its features such as fast read-write, low error rate in comparison with DRAM, reduced cost, better scalability, and higher availability of storage. Furthermore, a large number of communication service providers (CSPs) are increasingly focusing on the construction of cloud data centers worldwide and the adoption of cloud-based storage, which will further push the demand for advanced storage infrastructures such as MRAM.
In terms of geography, North America accounted for the majority of market shares during 2016 and will continue to dominate the market for the next four years. MRAM is increasingly used in a number of motorcycle and car applications because they can function at a temperature range of -40°C to 125°C and retain the data for a longer time.
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Competitive landscape and key vendors
According to the industry research report, the global MRAM market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. It has been observed that these vendors are increasingly collaborating with other suppliers by undertaking research and developmental activities to develop advanced MRAM to remain competitive in the market. Furthermore, these vendors encounter challenges such as intense competition and rapid advancements in technology. However, to survive in this competitive environment, these vendors are increasingly distinguishing their products in terms of the memory size, density, or low price to survive in the industry.
Key vendors in this market are -
Avalanche Technology
Crocus Nanoelectronics
Everspin Technologies
Other prominent vendors in the market include CANON ANELVA, Cobham, Crocus Technology, FUJITSU, Honeywell International, SK Hynix, and Spin Transfer Technologies.
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Segmentation by type and analysis of the MRAM market
Toggle MRAM
STT-MRAM
The spin-transfer torque magnetic random access memory (STT-MRAM) segment also known as STT-RAM, ST-MRAM, or ST-RAM accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors responsible for the growing preference for STT-MRAM is its higher density, low cost, low power consumption, low price in comparison to Toggle MRAM devices, compatibility with higher storage technologies, and exhibits higher performance in comparison with dynamic random-access memory (DRAM) and static random-access memory (SRAM).
Segmentation by end user and analysis of the MRAM market
Automotive
Enterprise storage
Consumer electronics
Robotics
Aircraft and defense
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