Global MRAM Market 2020-2024 | Large-Scale Benefits of Using IoT Devices In Healthcare Applications to Boost Market Growth | Technavio

Technavio has announced its latest market research report titled Global MRAM Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The MRAM market is expected to grow by USD 952.71 million during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

MRAM technologies are mostly used in battery-powered wireless sensors, as they consume almost 50% less power than other flash memories. This increases the battery life to a great extent. Furthermore, the MRAM module has unique features such as faster access time and non-volatile data storage compared with other memory technologies. This gives MRAM technology an additional benefit over other RAMs, along with the lower-power consumption factor. Moreover, for the wireless and portable applications, especially IoT, the energy budget is a critical component. So, engineers typically need to look at the rate of power consumption of the device. Technologies such as MRAM, with fast-write and power-up-to-write times, decrease the power consumption compared with EEPROM or flash. This, in turn, creates demand for MRAM modules. All of these factors are expected to drive the growth of the market.

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As per Technavio, the large-scale benefits of using IoT devices in healthcare applications will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

MRAM Market : Large-Scale Benefits Of Using IoT Devices In Healthcare Applications

IoT is one of the most rapidly growing markets across the globe. IoT devices are finding huge adoption in medical devices. IoT integrates technologies such as data communication, hardware design, data storage, and data mining. In healthcare applications, radio-frequency identification (RFID) devices are used to ensure that authorized disposable parts are properly attached to the right equipment. This will help to reduce the hazard by misuse. However, the memory of these devices is easily corrupted or erased when exposed to radiation equipment in hospitals. To overcome this drawback, RFID devices are now being integrated with MRAM, which can withstand gamma radiation. This feature has led to the increased use of MRAM in RFID tags that are used for medical applications.

“Factors such as the impulsion for miniaturization, growth of smart cities and integration of MRAM in the smartphone market will have a positive impact on the growth of the MRAM market value during the forecast period,” says a senior analyst at Technavio.

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MRAM Market: Segmentation Analysis

This market research report segments the MRAM market by type (STT MRAM and T MRAM), end-user (enterprises storage, consumer electronics, robotics and automotive and A and D), and geography (North America, APAC, Europe, South America and MEA).

The North American region led the MRAM market in 2019, followed by APAC, Europe, South America and MEA. During the forecast period, the North American region is expected to register the highest incremental growth due to the presence of leading players and growth of R&D.

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Some of the key topics covered in the report include:

Type

  • STT MRAM
  • T MRAM

End-user

  • Enterprises storage
  • Consumer electronics
  • Robotics
  • Automotive and A and D

Geographic segmentation

  • North America
  • APAC
  • Europe
  • South America
  • MEA

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The MRAM market is expected to grow by USD 952.71 million during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/