Any electronic data storage device is incomplete without memory. The computer memory is made in different types and with help of different technologies. It is implemented on integrated circuits in semiconductors. Random access is the key property of this device that separates it from other devices like CDs, DVDs and hard drives. Semiconductor memory also has faster access time, which makes it ideal for various types of data storage. Hence, these devices and especially the next generation devices have become a vital part of various industries depending on semiconductors. The next generation memory (NGM) market is poised to experience some great news in terms of market value and global presence.
Memory is an inseparable component of any computer based storage device and various other electronic devices. This indispensability is the biggest reason for the technological advancements and latest inventions in the next generation memory market. Computer industry is a vital sector that drives this market to a greater deal. However, it has also led to a sort of stagnation in the market in terms of demand and supply ratio. Implementation of advanced technologies in various businesses adversely affects the supply pattern of memories. The next generation memories could serve as an ideal solution to these and many such problems.
Industries are largely inclined towards already available technologies, such as SRAM and DRAM. Wherein, DRAM is the first choice for the computer industry when it comes to reliable source of memories. Along with the conventional technologies, emerging technologies such as flash memory, magneto resistive ram (MRAM), memristor (ReRAM), ferroelectric RAM (FRAM) and phase change RAM (PCRAM) can also expect rise in demand. The next generation memory market will be rooting for the advanced non-volatile technologies such as MRAM, ReRAM, PCRAM and FRAM in the coming years.
Apart from the computers, next generation memories have various other applications in various industries such as consumer electronics, information and communication technology (ICT), aerospace, and defense, industrial and automotive technologies. According to the forecasting reports, the Next Generation Memory Market is set to rise at an estimated CAGR of 7.3% by 2017. This will take the market to $90.74 billion. Along with North America, Asia Pacific region is expected to grow in market shares, market value and demands for the advanced technologies.
As far as the challenges in this sector are concerned, cost is the major issue. Design and process cost of the memories needs to be controlled, for it to be globally accepted. Most next gen memories work in both volatile and non-volatile functions. Hence, they need to be adapted on a priority basis.
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