Non-volatile Memory Market Outlook (2023 to 2033)
The Global Non-Volatile Memory Market is estimated to reach a valuation of US$ 70.3 billion in 2023 from US$ 64.5 billion registered in 2022. It is likely to witness a CAGR of 8.0% from 2023 to 2033. The market is predicted to be valued at US$ 152.0 billion by 2033.
Since the previous decade, the semiconductor industry has become increasingly interested in non-volatile memory (NVM) solutions for bulk storage applications due to expansion of the portable systems market. The non-volatile memory industry is expanding owing to surging demand for reduced power consumption, rapid memory management, and high efficiency.