Ultra-low Power Memory Market: Introduction
- Ultra-low power memory provides solutions for non-volatile needs of battery operated and energy harvesting applications. The device is designed for low possible power operation for data transfer, power-down, and read/write function. The ultra-low power memory is used in a wide range of applications such as wearable, autonomous devices, security, multi-tasking, and IoT.
- Ultra-low power memory has the ability to perform read and write function at 50- 100 times lower power than other memory products. These memory devices are suited for energy harvesting applications which rely on energy generation sources such as thermal energy, wind energy, salinity gradients, and ambient scavenging.
Increasing adoption of low power consumption devices
- Increasing adoption of ultra-low power memory in consumer electronics such as laptops, smartphones, gaming devices, smart home devices, and appliances is being seen. Manufacturers are focusing on devices which consume lower power due to the shrinking size of electronic components, thus leading to rising production of ultra-low power memory devices.
- In addition, technological developments are being undertaken by manufacturers of ultra-low power memory devices. For instance, in 2019, Renseas Electronics Corporation developed low-power technology for use in embedded flash memory. This new embedded flash memory achieves read energy as low as 0.22 Pico joules per bit at the operating frequency of 64 MHz.
Increasing usage of home automation systems
- Internet of Things is being used increasingly for smart homes. Thus, traditional and proven home automation standards such as KNX are integrated into more solutions and applications. Home automation gets integrated with energy management and hence ultra-low power memory is being used in smart appliances.
- However, design complexities in high speed and power critical applications, and low penetration of ultra-low power memory as compared to high and low power microcontroller is hampering the market growth.
Asia Pacific to lead the ultra-low power memory market
- In terms of region, the global ultra-low power memory market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- The ultra-low power memory market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period.
- This growth is attributed to increasing demand for consumer electronics and automobiles, growing population, penetration of home appliances, and growing industrial IoT. These factors are expected to increase the demand for ultra-low power memory.
- The ultra-low power memory market in North America, South America, and Europe is expected to show high growth due to significant investment in research and development by manufacturers for consumer electronics.
- The market in Middle East & Africa is likely to show slow growth due to lack of presence of manufacturers of ultra-low power memory and low investment in research and development.
Key Players in the Global Market
The global ultra-low power memory market is highly fragmented. Prominent players operating in the global market are focusing on product launch and technological developments to meet the growing demand.
Key players operating in the global ultra-low power memory market include:
- On Semiconductor
- Microchip Technology Inc.
- Cypress Semiconductor Corporation
Global Ultra-low Power Memory Market: Research Scope
Global Ultra-low Power Memory, by Application
- Smart Devices
Global Ultra-low Power Memory Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.