Resistive Random Access Memory Market is Growing Exponentially
Resistive Random Access memory Market Outlook – Asia Pacific holds the largest market of the global resistive random access memory.
Asia Pacific held a dominant position in the global resistive random access memory market in 2016 and is estimated to retain its dominance throughout the forecast period. China and India are some of the major countries that drive growth for the market in Asia Pacific. The increasing consumer electronics and automotive industry fuels the demand for resistive random access memory in Asia Pacific countries. In India, the production of the electronic market has generated a revenue of US$36.2 billion in 2016, from US$31.6 billion in 2015 and is predicted to reach up to $104 billion by 2020. The consumer electronic holds 8.3% of the total production of electronic goods. Moreover, the resistive random access memory market in North America also plays a major role in growth of the market. The increasing internet of things device market and rising trend of body wearable devices, provides immense opportunity for growth of the resistive random access memory market in the North American region.
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Key Companies of the Global Resistive Random-Access Memory Market
Crocus Nano Electronics LLC, Toshiba Corporation, Spin Transfer Technologies, Everspin Technologies Inc., and Avalanche Technology Inc. are some of the key companies of the global resistive random-access memory market.
The increasing adoption of sensors technology such as wearable devices in various regions, has increased demand for fast data transfers and high storage density, in turn providing immense opportunity for growth of the resistive random access memory market globally. Around 232 million wearable devices were sold in 2015, which rose up to 275 million in 2016, and is estimated to reach up to 323 million units sales by 2017. Hence, rising sales of wearable devices has led to increasing demand for resistive random access memory. In addition to this, the increasing installation of internet of things devices globally also provides scope for the growth of the resistive random access memory market at global level. According to Coherent Market Insights, approx. 17.7 billion internet of things devices were installed globally in 2016, and is estimated to reach up to 30.7 billion by 2020.
The high costs of resistive random access memory has become one of the major challenges hindering growth of this market. The innovation and implementation of new materials, over the coming years, is expected to reduce costs and increase the demand for resistive random access memory in various verticals.
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