NOR Flash Market 2023 – Global Industry Analysis, Size, Growth, Trends and Forecast 2024

Every digital computing system requires non-volatile memory to retain the primary or necessary programs and data, permanently, in order to avoid data loss on occasions of power failure or system shutdown. This has led to the invention of non-volatile memories. NOR flash is a type of nonvolatile semiconductor memory widely used in electronic devices. The NOR flash memory was first introduced by Intel in 1988. In NOR flash memory, the individual memory cells are connected in parallel configuration, which enables fast random access to the content stored on the memory cells. NOR flash memory has been utilized for a long period of time for code storage and direct program execution in portable electronic devices such as mobile phones and personal digital assistants (PDAs). However, the advent of smartphones and usage of NAND flash has impacted the application of NOR flash memories.

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Market Dynamics: Global NOR Flash Market

The NOR Flash market is primarily driven by the increased deliveries of embedded NOR flash in applications such as automotive, wireless, medical, and industrial applications. Incorporation of advanced features in automobiles such as advance driver assistance systems (ADAS) , automatic cruse controller, and internet of things (IoT) compatibilities is featuring addition of on board processors and controllers (microcontrollers or CPUs). In conjunction with the same, NOR flash memories which are used in these controllers for code storage, and similar functions are also witnessing an increase in demand in the market. As a result of these factors, expansion of the automotive electronics market is anticipated to boost the NOR flash market during the forecast period. However, increasing adoption of NAND flash and development of high-tech NAND flash such as 3D NAND flash are expected to restrain the NOR flash memories market in the near future.

Market Segmentation: Global NOR Flash Market

The global NOR flash market has been segmented based on type, end-use industry, and region. Based on type, the NOR flash market can be classified into serial NOR flash, and parallel NOR flash. Based on end-use industry, the market can be segmented into IT and Telecommunication, automotive, defense and aerospace, consumer electronics, and others. The consumer electronics segment of the NOR flash market can be further sub-segmented into smartphones, tablets, smart TVs, and laptops. In terms of region, the global NOR Flash market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Preliminary Analysis

North America is anticipated to a significant share of the global NOR flash market due to the presence of leading NOR flash manufacturers, for instance Cypress Semiconductor Corporation and Micron Technology, Inc., in this region. The market in Asia Pacific is anticipated to expand at a rapid pace owing to the expansion of application industry verticals such as consumer electronics, automotive, and IT and telecommunication, in emerging economies such as India and China, in the region. Moreover, amongst the type of NOR flash memory, the serial NOR flash segment is anticipated to witness prominent growth due to the incorporation of serial peripheral interface (SIP) for increased operational speed.

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Prominent Market Players

Key players operating in the global NOR flash market include Cypress Semiconductor Corporation, Micron Technology, Inc., GigaDevice Semiconductor (Beijing) Inc., Macronix International Co., Ltd., Winbond, Toshiba Electronic Devices & Storage Corp. and Toshiba Memory Corp., Intel Corporation, SAMSUNG, Seagate Technology LLC, SK HYNIX INC., LAPIS Semiconductor Co., Ltd., Integrated Silicon Solution Inc., Eon Silicon Solution Inc. These players are actively focusing on organic and inorganic growth strategies in order to gain a competitive advantage in the market. Some of the important strategies adopted by the leading players in the global market are collaborations, partnerships, agreements, and new product launches. The report provides an in-depth analysis about the strategic business activities along with the market dynamics shaping the global NOR flash market over the period of study.

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