Market Overview
The global serial NOR flash market garners exponential traction. The market growth attributes to the increasing adoption of technology across the industry verticals. Besides, the rising usages of consumer electronics and smart and connected devices drive market growth. Advances in digital technologies are growing due to increasing digitization. Moreover, the growing demand from the consumer electronic sectors worldwide escalates market growth.
According to Market Research Future (MRFR), the portable electronics market valuation is poised to reach approximately USD 1,306.9 MN by 2025, growing at 4.8% CAGR during the assessment period (2019–2025). Advanced serial NOR flash systems have more physical interface options and memory size. Such technological advancements and innovation in have led to expanded serial NOR flash application peripheries. Rising usages of these devices in data storage and computation purposes foster market growth.
Additionally, increasing the technology adoption in electronic products such as touch screens, display controllers, and AMOLED panel increases the size of the serial NOR flash memory market. Market growth is also linked with the increased sales of consumer electronics globally. Moreover, the rising popularity of portable electronic devices is a key force behind the growth of the Serial NOR Flash Market Size. Also, the constant demand for reliable energy supply with the disruptive supply conditions propels the market growth.
Stringent government regulations and initiatives promoting the adoption of these systems in the major end-use industries foster market growth to an extent. Conversely, the high production cost of serial NOR flash is a key factor projected to impede the market growth during the forecast period. Nevertheless, technological upgrades expected in the recent future would support the market growth throughout the assessment period, presenting economical manufacturing techniques that would reduce the overall selling cost of these systems.
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Global Serial NOR Flash Market – Segments
The report is segmented into three dynamics;
By Type : 1 MB, 4 MB, 8 MB, 32 MB, and others [high-density serial NOR memory (above 32 MB)].
By Application: Consumer Electronics, IT, Communication, Automotive, Industrial, and others.
By Regions : North America, Europe, APAC and Rest of the World.
Global Serial NOR Flash Market – Regional Analysis
The Asia Pacific dominates the global serial NOR flash market. The leading market share attributes to the rise in automotive and electronics manufacturing and growing purchasing power, and the introduction of favorable policies. Besides, the increasing technological advances and usages of portable electronics across the region drive the growth of the market. Moreover, the availability of powerful technologies at affordable costs acts as a key driving force behind the regional market growth.
Also, the presence of several electronics manufacturing and automobile companies in the region fosters the growth of the market. China, Japan, and India are the key market for serial NOR flash in the region, substantially driving the market growth. The APAC serial NOR flash market is estimated to retain its dominance throughout the review period.
North America holds the second-largest share in the global serial NOR flash market. The region is a hub for advanced semiconductors technologies. The market growth is driven by the strong presence of notable players and well-established infrastructures that allow the development of advanced technologies and their early adoption in various innovative applications.
Additionally, the increasing demand for digital technologies from the automotive and consumer electronics industries substantiates the market growth in the region. The US and Canada account for significant growth contributors to the regional market. The North American serial NOR flash market is to demonstrate a considerable revenue generation, growing at 4.4% CAGR during the forecast period.
The Europe serial NOR flash market is emerging as a lucrative market globally. Factors such as the massive uptake of this technology across the major industries and rising usages of electronics devices in IT & communication and automotive industries boost the regional market growth. Also, the burgeoning consumer electronics industry in the UK and Germany contribute to the market growth in the region majorly. The European serial NOR flash market is anticipated to generate a substantial revenue pocket throughout the assessment period.
Global Serial NOR Flash Market - Competitive Analysis
The global serial NOR flash market appears highly competitive due to the presence of several well-established players. To gain a larger competitive advantage, industry players adopt strategic approaches, such as mergers & acquisitions, collaboration, expansion, and product/technology launch.
They focus on developing their product portfolios, engaging the latest technologies in product development. For which these companies invest substantially in R&D to develop adept technologies and products. The market competition is likely to intensify due to new product launches and the new entrants in the market.
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Market Players
Players leading the serial NOR flash market include Intel Corporation, ASE Group, TDK Corporation, Jiangsu Changjiang Electronics Technology Co. Ltd., Amkor Technology, Vicor Corporation, ON Semiconductor, Panasonic Corporation, Bel Fuse Inc., and Texas Instruments Incorporated, among others.
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