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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 Market. 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.
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.
The Serial NOR Flash Market is expected to undergo a massive transformation during the current forecast period of 2018-2025. Based on the trends and advancements that are leading to an increase in customer size and their growing demand, the Serial NOR Flash Market is expected to grow at an increasing CAGR of 4.20% during the current forecast period. With this high and rising rate, the market is expected to grow and reach the final market valuation worth USD 1,306.9 million by the end of the forecast period in 2025.
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Global Serial NOR Flash Market – Segments
The report is segmented into three dynamics;
By Type : 1 MB, 4 MB, 8 MB, 32 MB, and others [high-density serial NOR memory (above 32 MB)].
By Application: Consumer Electronics, IT, Communication, Automotive, Industrial, and others.
By Regions : North America, Europe, APAC and Rest of the World.
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Global Serial NOR Flash Market – Regional Analysis
The Asia Pacific dominates the global serial NOR flash market. The leading market share attributes to the rise in automotive and electronics manufacturing and growing purchasing power, and the introduction of favorable policies. Besides, the increasing technological advances and usages of portable electronics across the region drive the growth of the market. Moreover, the availability of powerful technologies at affordable costs acts as a key driving force behind the regional market growth.
Also, the presence of several electronics manufacturing and automobile companies in the region fosters the growth of the market. China, Japan, and India are the key market for serial NOR flash in the region, substantially driving the market growth. The APAC serial NOR flash market is estimated to retain its dominance throughout the review period.
North America holds the second-largest share in the global serial NOR flash market. The region is a hub for advanced semiconductors technologies. The market growth is driven by the strong presence of notable players and well-established infrastructures that allow the development of advanced technologies and their early adoption in various innovative applications.
Additionally, the increasing demand for digital technologies from the automotive and consumer electronics industries substantiates the market growth in the region. The US and Canada account for significant growth contributors to the regional market. The North American serial NOR flash market is to demonstrate a considerable revenue generation, growing at 4.4?GR during the forecast period.
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The Europe serial NOR flash market is emerging as a lucrative market globally. Factors such as the massive uptake of this technology across the major industries and rising usages of electronics devices in IT & communication and automotive industries boost the regional market growth. Also, the burgeoning consumer electronics industry in the UK and Germany contribute to the market growth in the region majorly. The European serial NOR flash market is anticipated to generate a substantial revenue pocket throughout the assessment period.
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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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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