iCrowdNewswire Jan 14, 2021 2:00 AM ET
Global Serial NOR Flash Market is set to exhibit a compound annual growth rate of 4.8% finds Market Research Future (MRFR’s) latest study. Over the years, serial NOR flash has undergone massive transformation, leading to increased memory size and physical interface options. It is used in computation and data storage applications. A number of end-use electronic products such as AMOLED panels, touch screens and display controllers comprise serial NOR flash. Rapid urbanization and technological advances can be linked with the exponential growth of the user base of consumer electronics worldwide. Demand for portable electronic devices which are light-weight and have a stable memory is one the rise. Such devices are purpose-built and are used on a daily basis.
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Serial NOR has emerged as an apt alternative to parallel NOR, owing to higher pin-count, space efficiency, system cost, reduced chip cost, and enhanced performance. Growing number of consumer electronics with AMOLED panels, the rise in demand for touch and display integration (TDDI) chips and use of serial NOR chip in IoT-related components are some of the key factors fueling the demand for serial NOR flash. As technology trends such as industrial automation and artificial intelligence pick up steam, new avenues are likely to emerge for serial NOR flash.
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Global Serial NOR Flash Market: Segmental Analysis
The report includes a detailed segmental analysis of the market based on type, application, and region/country. By type, the market is segmented into 1 MB, 4 MB, 8 MB, 32 MB, and others [high-density serial NOR memory (above 32 MB)]. The others segment accounts for the largest market share and is expected to exhibit a CAGR of 4.93% during the assessment period, which is relatively higher than its peers. This is primarily owing to the increased focus towards development of superior controller functions and the growing popularity of plug-in memory. By application, the market has been segmented into consumer electronics, IT, automotive and industrial, communication and others. In terms of revenue, the consumer electronics segment holds the dominant market share. The automotive and industrial segment is projected to post a relatively higher CAGR during the assessment period. Serial NOR flash finds tremendous application in advanced driver assistance systems (ADAS) and instrument cluster in the automobiles.
Global Serial NOR Flash Market: Regional Outlook
Regions covered in the report are North America, Europe, China, Japan, South Korea and Rest of the World (RoW). In terms of value, China accounted for 34.32% share of the global market in 2017. The market in China is currently valued at USD 300 million and expected to surge at a CAGR of 5.8% during the forecast period. In recent years, there has been a sharp rise in demand for and supply of serial NOR flash in China and the trend is likely to continue over the next several years. Moreover, China has emerged as a prominent supplier of serial NOR flash to verticals such as electronic appliance manufacturing and automobile manufacturing. The country also represents a massive consumer base, making it an important investment destination for market players. Factors such as strong government backing and increased investment is electronics manufacturing are also supporting the market growth in China. North America is the second largest market for serial NOR flash. The market in North America was valued at USD 185.5 million in 2017 and is projected to exhibit a CAGR of 4.4% during the forecast period. The region is home to a number of leading serial NOR flash manufacturers such as Cypress Semiconductor Corporation, Micron Technology, Inc. and Integrated Silicon Solution Inc. This puts the North America serial NOR flash market at an advantageous position.
Global Serial NOR Flash Market: Competitive Landscape
MRFR’s study includes a competitive landscape, which covers companies such as Cypress Semiconductor Corporation, Winbond Electronics Corporation, GigaDevice Semiconductor Inc., Macronix International Co., Ltd, Integrated Silicon Solution Inc., Microchip Technology, Inc. and Elite Semiconductor Memory Technology Inc.
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