Global Second-gen Magneto Resistive RAM (STT MRAM) Market: Snapshot
The global magneto resistive RAM (MRAM) market is following an exponential growth track, thanks to the growing preference for fast, efficient, economical, highly scalable, and non-volatile memory devices in several end-use industries, including enterprise, consumer electronics, and defense and aerospace. In this market, second-gen MRAM also known as spin transfer torque MRAM (STT MRAM) holds a significant share – making inroads into the shares of conventional MRAMs. Therefore, with the robust growth of MRAM market, the global STT MRAM market is estimated to rake in a healthy share of the revenue pie.
These second generation MRAMs are acknowledged worldwide due to their superior endurance characteristics and capability of supporting an array of applications. For the manufacturing of these memories, specialized fabrication equipment is required. The increasing investments in the development of such equipment are, thus, working in favor of the market.
On the flip side, the high capital required for manufacturing these memories is dampening the rates of their improvements, which in turn is hampering the growth trajectory of the global STT MRAM market. Moreover, the complex structures of these memories are negatively impacting the growth of the market. In addition, the market is receiving high competitive pressures from the flash market, which is keeping the STT MRAM market from realizing its utmost potential. Nevertheless, industrial experts anticipate that the impact of these restraints will be subdued by rapid technological advancements and increased production.
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