Global NOR flash market to benefit from the increasing adoption of wearable technology by 2020

Renewable energy


NOR flash: Key market research findings

  • Advancements in vehicle technologies to boost the need for memory
  • The consumer electronics segment accounts for the majority share of the market
  • Key vendors—Cypress Semiconductor, Gigadevice Semiconductor, Macronix International, Micron Technology, and Winbond

Technavio’s market research analysts estimate the global NOR flash market to grow at a CAGR of almost 1% between 2016 and 2020. The rising requirement for memory in vehicle automation is the primary driver for the market. Furthermore, advanced driver assistance systems and smart cars require a considerable amount of flash memory such as NOR flash to process and analyze the information collected by cameras and sensors. The production of automobiles is also estimated to grow considerably during the forecast period, thereby boosting growth of the market. At present, the market is dominated by the APAC region by holding a market share of over 80%. The market is thriving in this region due to the presence of numerous electronic device and car manufacturers that require NOR flash devices for their end products.

The new market research report from Technavio presents a breakdown and analysis of the NOR flash segments by end-user.

“The increasing adoption of wearable technology is the latest trend in the market. Wearables are mobile forms of communication technology worn on the body and can be used to monitor daily activities and access smartphone functionalities. They include smart watches, smart glasses, smart fabrics, and heart rate monitors that are integrated with semiconductor content and NOR flash memory. The market is expected to benefit significantly from the increasing number of vendors venturing into the wearable technology segment by 2020,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.

In 2015, the consumer electronics segment dominated the global NOR flash market by accounting for almost 36% of the overall market share and is expected to grow further during the forecast period. The use of NOR flash in cell phones is the reason for the high market share of this sector. This segment’s growth can be attributed to the use of NOR flash memory in e-book readers, tablets, and wearable technology.

The key vendors in the global NOR flash market include Cypress Semiconductor, Gigadevice Semiconductor, Macronix International, Micron Technology, and Winbond. This highly fragmented market has been evolving considerably to meet the demand for high performance and storage requirements. Since a number of manufacturers are constantly competing for a share of the flash technologies market, this NOR flash market will appear aggressively competitive in the coming years.

A more detailed analysis is available in the Technavio report, Global NOR Flash Market 2016-2020.

We can customize reports by other regions and specific segments upon request.

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