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The global magneto resistive RAM (MRAM) market is expected to reach USD 4.80 billion by 2025, according to a new study by Grand View Research, Inc. Non-volatile memories, such as MRAM and Resistive random Access Memory (RRAM/ReRAM), are expected to replace the existing volatile memories such as Dynamic Random Access Memory (DRAM) and Static Random-Access Memory (static RAM or SRAM). The replacement would be possible due to different benefits offered by the advance non-volatile memories. The existing flash memories are facing technological limits; and their further advancements are expected to increase their costs, thus, leading to the invention of non-volatile memories that are capable of avoiding data loss on power discharge.

The standalone markets, such as wearables, embedded Multipoint Control Unit (MCU)s, smart cards, and storage class memories for enterprise storage, are expected to offer immense opportunities to the market.

The first generation MRAM and second generation Spin-Transfer Torque MRAM (STT-MRAM) are expected to replace traditional DRAMs and SRAMs. Initially, the prices associated with these memories are expected to be high, which would reduce with the increasing rates of developments.

Moreover, the increasing demand of these memories is predicted to promote the demand for equipment, used in their manufacturing. The manufacturing of these memories require specialized fabrication equipment, similar to those used in magnetic read sensors. Thus, promoting the growth of capital equipment required for manufacturing of non-volatile memories equipment.

The market may face challenges due to its complex structure and high costs of manufacturing of memories. However, these challenges can be circumvented by technological advancements and increased production.

Further Key findings from the study suggest:

The North American region dominated the market, accounting for more than 36% of the total market revenue, owing to the presence of leading players and growing R&D activities

STT-MRAM is expected to maintain market dominance due to its wide application, higher performance, thermal stability, and greater compatibility

The Asia Pacific region is predicted to emerge as the fastest-growing market due to the increased penetration of cloud computing and improvements in the present infrastructures of data centers, in developing nations

Strategic partnerships accompanied, by the increasing innovation and research & development activities, are being observed in the industry

The prominent vendors operating in the market include Avalanche Technology, Inc., Everspin Technologies, Inc., Spin Transfer Technologies, Toshiba Corporation, and Crocus Nano Electronics LLC