MRAM Market by Type, End-user, and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR40501

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The MRAM market share is expected to increase by USD 952.71 million from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 39%.

This MRAM market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers MRAM market segmentation by type (STT MRAM and T MRAM), end-user (automotive and A and D, enterprise storage, consumer electronics, and robotics), and geography (North America, APAC, Europe, South America, and MEA). The MRAM market report also offers information on several market vendors, including Avalanche Technology Inc., CROCUS NANO ELECTRONICS LLC, Everspin Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Honeywell International Inc., Infineon Technologies AG, Intel Corp., QUALCOMM Inc., and Samsung Electronics Co. Ltd. among others.

What will the MRAM Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the MRAM Market Size for the Forecast Period and Other Important Statistics


MRAM Market: Key Drivers, Trends, and Challenges

The low-power consumption is notably driving the MRAM market growth, although factors such as the memory density issue may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the MRAM industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key MRAM Market Driver

One of the key factors driving growth in the MRAM market is the low-power consumption. 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. Moreover, low power consumption also provides the OEMs to integrate MRAM technology into the devices. 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. 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 these factors attract device manufacturers and end-users.

Key MRAM Market Trend

The integration of MRAM in the smartphone market is a MRAM market trend that is expected to have a positive impact in the coming years. MRAM is a type of working memory in ultra-low power applications. Next-generation MRAM will specifically support real-time vision processing and 3D mapping. As a result, companies such as Apple will be interested in adopting MRAM chips during the forecast period. MRAM development has huge significance, and it has a huge opportunity in the smartphone market. There were about two billion smartphone users globally in 2019. The growth of smartphone devices is directly proportional to several factors such as the growth of technology and innovations. In 2018, developing countries such as China sold more than 500 million smartphones, Japan sold around 55 million, and Indonesia sold around 50 million. In India, about 165 million smartphones were sold in 2018 and the smartphone penetration level was about 13%. Several vendors have been conducting research on MRAM technology. This will lead to the low-capacity memory chips for IoT sensors and mobile devices that currently use NAND flash to store data.

Key MRAM Market Challenge

The memory density issue will be a major challenge for the MRAM market during the forecast period. The common memory density for MRAM is 256 kb, 1 Mb, and 4 Mb to 16 Mb. As of 2017, the largest MRAM chip is 256 Mb. However, storage devices such as data servers and cloud-based devices require more than 1Gb storage to store data. The density of the memory module is very less, and thus the OEMs are not adopting the MRAM module. This decreases the adoption and sales of the MRAM modules. Therefore, vendors such as Everspin Technologies are working to improve the density of the MRAM module. In November 2016, Everspin Technologies announced that it would display the industry’s first 1Gb STT MRAM designed with its pMTJ, which is being processed by GlobalFoundries. Also, by 2018, Everspin Technologies is expected to launch a 1Gb MRAM chip.

This MRAM market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global MRAM market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the MRAM market during the forecast period.

Who are the Major MRAM Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:


  • Avalanche Technology Inc.
  • Everspin Technologies Inc.
  • Fujitsu Ltd.
  • Hewlett Packard Enterprise Co.
  • Honeywell International Inc.
  • Infineon Technologies AG
  • Intel Corp.
  • Samsung Electronics Co. Ltd.


This statistical study of the MRAM market encompasses successful business strategies deployed by the key vendors. The MRAM market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • QUALCOMM Inc. - The company offers MRAM corresponds to STT MRAM and T MRAM.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The MRAM market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

MRAM Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the MRAM market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the information technology market includes the following core components:

  • Inputs
  • Operations
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for MRAM Market?

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32% of the market’s growth will originate from North America during the forecast period. The US is the key market for MRAM in North America. Market growth in this region will be slower than the growth of the market in the South American and APAC regions.

The presence of leading players and growing R&D will facilitate the MRAM market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the MRAM Market?

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The MRAM market share growth by the STT MRAM segment will be significant during the forecast period. STT MRAM consumes low power and has better scalability when compared to conventional T MRAM. It has a fast read and write times, small cell sizes, and is compatible with existing DRAM and SRAM technologies. Regular MRAM stores data using nanoscopic magnetic fields, which help set the bits. On the other hand, STT MRAM uses spin-polarized currents, which assist in the formation of smaller and less energy-consuming bits. The writing operation in STT MRAM is carried out by polarizing the electric current and aligning the spin direction of the electrons passing through a magnetic tunnel junction (MTJ) element.

This report provides an accurate prediction of the contribution of all the segments to the growth of the MRAM market size and actionable market insights on post COVID-19 impact on each segment.


MRAM Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 39%

Market growth 2020-2024

$ 952.71 million

Market structure


YoY growth (%)


Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

North America at 32%

Key consumer countries


Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Avalanche Technology Inc., CROCUS NANO ELECTRONICS LLC, Everspin Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Honeywell International Inc., Infineon Technologies AG, Intel Corp., QUALCOMM Inc., and Samsung Electronics Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis forthe  forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this MRAM Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive MRAM market growth during the next five years
  • Precise estimation of the MRAM market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the MRAM industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of MRAM market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End user placement
  • Automotive and A and D - Market size and forecast 2019-2024
  • Enterprise storage - Market size and forecast 2019-2024
  • Consumer electronics - Market size and forecast 2019-2024
  • Robotics - Market size and forecast 2019-2024
  • Market opportunity by End user

Market Segmentation by Type

  • Market segments
  • Comparison by Type placement
  • STT MRAM - Market size and forecast 2019-2024
  • T MRAM - Market size and forecast 2019-2024
  • Market opportunity by Type

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Avalanche Technology Inc.
  • Everspin Technologies Inc.
  • Fujitsu Ltd.
  • Hewlett Packard Enterprise Co.
  • Honeywell International Inc.
  • Infineon Technologies AG
  • Intel Corp.
  • Samsung Electronics Co. Ltd.


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The mram market growth will increase by $952.71 million during 2019-2024.
The mram market is expected to grow at a CAGR of 38.62% during 2019-2024.
Technavio has segmented the mram market by end user (Automotive and A and D, Enterprise storage, Consumer electronics, and Robotics) ,distribution channel (Offline and Online) , and geographic (North America, APAC, Europe, and South America).
Avalanche Technology Inc., CROCUS NANO ELECTRONICS LLC, Everspin Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Honeywell International Inc., Infineon Technologies AG, Intel Corp., QUALCOMM Inc., Samsung Electronics Co. Ltd. are a few of the key vendors in the mram market.
North America will register the highest growth rate of 32.51% among the other regions. Therefore, the mram market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • Japan
  • South Korea (Republic of Korea)
  • Germany
  • Canada
The key factors driving the mram market growth are:
  • Low-power consumption
  • Growing investment in smart cities
The mram market vendors should focus on grabbing business opportunities from the automotive and a and d segment as it accounted for the largest market share in the base year.
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