The Global Memristor Market size was valued at USD 5.57 Billion in 2022 and is expected to surpass USD 247.01 Billion by 2031, expanding at a CAGR of 52.4% during the forecast period, 2023–2031. The growth of the market is attributed to growing awareness about its features such as improving performance and bandwidth requirement and augmenting data transfer rate.
Memristor is a passive non-volatile electronic component, which possesses the property of both the memory and resistor. It is considered as the fourth fundamental component after resistor, capacitor, and inductor. A memristor consists of two terminal electrical components that regulates the flow of electrical current in a circuit and can store the amount of charge that previously flowed through it. On the stoppage of the current, the component stores the last resistance. The mermistor’s resistance increases on the flow of current in one direction, while its resistance decreases on the flow of the current in opposite direction.
Memristor can assist in developing energy efficient and significant computing systems with dynamic memory. This component can be used in remote sensing applications and can replace transistors and imitate neuromorphic and biological systems. The resistance of a memristor varies according to the function of the device. Memristor are basic circuit elements, the resistance value of which changes depending on the direction in which electric current is flowing through it. Parameter random access memory (RRAM) is the latest technology used in the memristors.
Memristor Market Trends, Drivers, Restraints, and Opportunities
Increasing adoption of memristors in non-volatile memory solutions, low power, and remote sensing applications are projected to boost the market growth.
Memristor are expected to replace transistors that are currently used with small solid-state memristor, which is expected to be a key factor driving the market growth during the forecast period.
Rising demand for memory density and high processing power systems is anticipated to propel the memristor market.
Memristor-based memories are considered as a huge prospect to replace complementary metal–oxide–semiconductor (CMOS) in the storage class memory. This factor can act as a major driver of the market.
Increasing investment on the memristor-based technologies is projected to spur the market expansion in the coming years.
Scope of Memristor Market Report
The report on the global memristor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Memristor Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Applications (Non-volatile Memory, Neuromorphic & Biological Systems, and Programmable Logic & Signal Processing), End-user Industries (Consumer Electronics, IT & Telecom, Automotive, and Healthcare)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Crossbar Inc., IBM Corporation, Knowm Inc., Samsung Group, and Intel Corporation.
Memristor Market Segment Insights
Neuromorphic & biological systems segment to account a large market share
Based on applications, the market is divided into non-volatile memory, neuromorphic & biological systems, and programmable logic & signal processing. The neuromorphic & biological system segment is expected to constitute a key market share of the market during the forecast period owing to introduced advancements in cognitive psychology, artificial intelligence (AI) modelling, and machine learning (MI).
Consumer electronics segment to grow at a significant pace
In terms of end-user industries, the market is segmented into consumer electronics, IT & telecom, automotive, and healthcare. The consumer electronics segment is projected to expand at a rapid pace during the forecast period due to growing requirements for high-speed performance systems in the consumer electronics sector.
The adoption of memristor in the consumer electronics sector is mainly driven by wearable and connected devices that are expected to expand at a high CAGR in the coming years. Cisco Systems estimates that the number of connected wearable devices may reach 1,102 million units by 2022 from 591 million units in 2018.
North America to dominate the market
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period owing to the high adoption of memristors in various electrical systems. Increasing investment on edge computing and system on-chip (SoC) is further driving the market growth in the region.
The global memristor market has been segmented on the basis of
- Non-volatile Memory
- Neuromorphic & Biological Systems
- Programmable Logic & Signal Processing
- Consumer Electronics
- IT & Telecom
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Crossbar Inc.
- IBM Corporation
- Knowm Inc.
- Samsung Group
- Intel Corporation
Key players competing in the memristor market include Crossbar Inc., IBM Corporation, Knowm Inc., Samsung Group, and Intel Corporation.