Global Nor Flash Memory Market: Market Analysis by Knowledge Sourcing Intelligence


Global Nor Flash Memory Market
Nor Flash Memory is a non-volatile storage technology that can store data without the use of any external power source and thus helps in avoiding data loss due to power failure or system shutdown. It is a type of non-volatile semiconductor memory that is mostly used in electronic devices and is highly scalable. It has several pins which give access to every byte of information available on the chip. Nor flash memory is faster than the nand flash memory and is used for code storing and direct execution of programs. The growth of the product is propelled by the research and investment by the key players so that they can offer the product at commendable rates. Also, the convergence of nand and nor flash memory will benefit the end-users from both technologies, thereby boosting the growth. The demand for the product is driven by the rising demand for consumer electronics and communication devices. Furthermore, the increasing penetration of electronics in the automotive and automation of industrial applications is further projected to enhance market growth in the coming years. However, the cyclical nature of the semiconductor industry and the availability of substitutes is projected to hinder the global NOR flash memory market in the coming years. The market demands investment in the research & development in the market so that the growth can be continued at a steady pace in the future.


Market Segmentation
The global nor flash memory market has been segmented based on type, end-user, and geography. On the basis of type, the market is classified as Serial Nor Flash and Parallel Nor Flash. Serial nor flash is more popular than the parallel nor flash and holds a significant portion of the global norflash memory size due to various advantages like cost-effectiveness, small size, comparable performance, and efficiency in usage of memory.
Based on end-user, the market has been classified as Communication, Consumer Electronics, Automotive, and Manufacturing. The consumer electronics segment is the leader in the market due to the increase in the demand for advanced goods such as gaming console, mobile phones, television, wearable technologies and other IoT devices. The growth of the segment can also be attributed to the rising disposable income which is a positive factor in the global nor flash market trend. The integration of nor and flash technologies will also benefit the segment by giving the benefits of both the memory storage methods. Additionally, the increased application of point of sale devices, inventory tracking devices, among others in the retail sector is a propellant factor for the increase in the market.
According to geography, the market is classified as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. The North America region holds a significant global nor flash memory market share due to the presence of several key players in the region. The Asia-Pacific region is also expected to experience rapid growth owing to the rapidly expanding semiconductor manufacturing, increasing urbanization, rising disposable income, and increased application/use of the product in the industry verticals.

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