Covid 19 Impact on FRAM Market Segmentation,Demand, Growth, Trends 2027
Posted by sneha patil on May 25th, 2021
Global FRAM Market 2020 is ready to step up again with gaining high valuation by the year 2025, after coronavirus disease outbreak that posed as most challenging to the goals formed by the Global FRAM Market in the recent. On this Market Research Future conducted a comprehensive study and highlighted that the market would maintain its growth graph with 3.78% CAGR, and would be valued USD 343.2 Million during the years 2016–2025 (forecast period). Before the pandemic, the market recorded a valuation of USD 265.4 Million, which was in the year 2018.
The demand for FRAM (ferroelectric random-access memory) is rapidly escalating in many applications that require low power, high performance, and high endurance. As FRAM is considered a better alternative to electrically erasable programmable read-only memory (EEPROM) for data-logging applications and low-power, it is essential as it prevents any data loss, even in the event of a sudden power shutdown.
Growing demand for FRAM in automotive applications has also been an essential factor influencing the global FRAM Market growth journey. In fact, the availability of substitutes is also anticipated to challenge market growth during the assessment period. Further, the emergence of new FRAM designs using the CMOS process is likely to act as a prospect for the global FRAM market during the forecast period, especially post lockdown for the COVID-19 outbreak.
Some renowned companies such as Cypress Semiconductor Corporation announced a new family of serial nonvolatile memories as ExcelonTM Ferroelectric Random-Access Memory. It features high-speed, nonvolatile data logging that prevents data loss even in harsh automotive and industrial environments, as well as extreme temperatures. In the same line, Fujitsu also announced the release of the 8Mbit ReRAM MB85AS8MT. It has the world's most significant density as a mass-produced ReRAM product. It is optimal for battery-operated small wearable devices such as hearing aids, Smartwatches, and smart bands.
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Top Market Players
The top market players of the global FRAM market are listed as Rohm Co., Ltd (Japan), Fujitsu Ltd (Japan), Cypress Semiconductor Corp (US), Texas Instruments (US), and more.
The Global FRAM Market has been segmented based on product type, interface, application, and region.
Based on the interface, the market has been classified into serial and parallel. The serial segment accounted for the larger market share in 2018, with the higher market value. The serial FRAM features a variety of interface and density options, including serial peripheral interface (SPI) and I2C interface, industry-standard packages, and densities ranging from 4KB to 4MB. Parallel FRAM can be used as a substitute to SRAM in industrial machinery, office equipment, medical devices, and other equipment that currently use SRAM, as it stores data without the need for a battery.
Based on application, the market has been classified into metering/measurement, enterprise storage, automotive, factory automation, telecommunication, medical, others. The telecommunication segment accounted for the largest market share in 2018, with the highest market value. The automotive segment is expected to register the highest CAGR during the forecast period. FRAM is considered for such applications because of its high endurance capability which supports frequent data collection and its ability to instantly capture data on power loss, without any loss of data. In enterprises, non-volatile memories are used to store and retain data. Automotive navigation systems and entertainment systems are often integrated into one infotainment system that allows both systems to access the vehicle’s audio system and display. FRAM is highly reliable and is used mainly for industrial applications, in factory automation equipment, measuring equipment, power meters, and bank terminals, among others. The telecommunication subsystem encompasses modems, transceivers, radio-frequency components, and antennas to communicate with ground stations. The manufacturers of CT scanner have started using FRAM for different purposes, one of which is a control system for determining when the equipment requires maintenance. Apart from the above-mentioned applications, FRAM has applications in smart cards, RFID, security, industrial systems, and other equipment.
North America, Asia-Pacific, Europe, and the Middle East and Africa and Central & South America are the regions involved in the study of the global FRAM market.
Asia-Pacific is anticipated to lead the FRAM market during the assessment period. China has been a significant country for the supply of FRAM modules in terms of manufacturing that are used in consumer electronic devices. Back in 2018, Asia-Pacific also leads the global market by value USD 114.5 million. It is now expected to record a CAGR of 3.11% during the foretell period.
Further, the market in North America also posed to be the fastest-growing at the highest CAGR during the review period.
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About the Authorsneha patil
Joined: December 28th, 2020
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