At 23.9% CAGR, Asia Pacific Embedded Non-Volatile Memory Market is Projected to be Worth US$ 1,621.79 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific embedded non-volatile memory market was valued at US$ 292.06 million in 2022 and is expected to reach US$ 1,621.79 million by 2030, registering a CAGR of 23.9% from 2022 to 2030. Expansion of automotive industry and increase in adoption of consumer electronics are among the critical factor attributed to the Asia Pacific embedded non-volatile memory market expansion.             

The impact of modern technology has positively shaped the automotive industry. The advent of digital technology worldwide has made it possible for manufacturers to implement advanced solutions in automobiles. Today, cars are equipped with a range of sophisticated technologies for making driving safer, comfortable, and enjoyable for users, which increases the demand for embedded non-volatile memory in the automotive industry. The embedded non-volatile memory is integrated into embedded systems, which are highly used in both regular and hybrid automotive vehicles. These memories help the automotive user to store code and other data after the vehicle’s system restarts. The embedded non-volatile memory is used in ADAS technology incorporated in electric and hybrid vehicles. The growing demand for electric and hybrid vehicles is driving the market. For instance, according to the International Energy Agency (IEA), electric vehicle sales increased by 10 million in 2022. Approximately 14% of all new cars sold across the globe were electric. The increasing sales of electric cars globally raises the adoption of embedded non-volatile memory among automotive manufacturers. These memories are used to store data in the absence of a power supply. The growing demand for embedded systems in the automotive industry is driving the Asia Pacific market. The embedded system is made up of microcontrollers that use embedded non-volatile memory for data storage. In automotive vehicles, over 100 microcontrollers are utilized, including AVR, 8051, and PIC. All these microcontrollers use embedded non-volatile memory to achieve higher performance with lower power. The microcontrollers are deployed in an embedded system to reduce overheating and the release of gases. These systems are used even in luxury automobiles to make them more network-savvy, energy-efficient, and safe to drive. The expansion of the automotive industry is fueling the embedded non-volatile memory market growth. The key players in the market are partnering to develop high-performance embedded systems used in autonomous vehicles. For instance, in May 2022, Magna International Inc. partnered with BlackBerry Limited to develop next-generation ADAS solutions for automotive original equipment manufacturers (OEMs). Magna International Inc. is leveraging BlackBerry Limited’s various QNX software platforms, such as QNX Software Development Platform, QNX Platform for ADAS, and QNX OS for Safety in design engineering, systems integration, and validation and performance optimization roles. The partnership helps Magna International to develop high-performance and secure embedded systems for ADAS, autonomous driving, and infotainment systems, driving the embedded non-volatile memory market. The development of high-performance and secure embedded systems requires embedded non-volatile memory that is capable of storing data and information in the absence of a power supply is fueling the market growth.

On the contrary, global shortage of semiconductor chips hurdles the growth of Asia Pacific embedded non-volatile memory market. 

Based on product, the Asia Pacific embedded non-volatile memory market is categorized into eFlash, eE2PROM, FRAM, and others. The eFlash segment held 32.9% market share in 2022, amassing US$ 96.15 million. It is projected to garner US$ 470.98 million by 2030 to expand at 22.0% CAGR during 2022–2030.

In terms of application, the Asia Pacific embedded non-volatile memory market is segmented into consumer electronics, automotive, robotics, and others. The others segment held 34.0% share of Asia Pacific embedded non-volatile memory market in 2022, amassing US$ 99.19 million. It is projected to garner US$ 471.32 million by 2030 to expand at 21.5% CAGR during 2022–2030.

Based on country, the Asia Pacific embedded non-volatile memory market has been categorized into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 35.7% share of Asia Pacific embedded non-volatile memory market in 2022. It was assessed at US$ 104.32 million in 2022 and is likely to hit US$ 628.13 million by 2030, exhibiting a CAGR of 25.2% during 2022-2030.           

Key players operating in the Asia Pacific embedded non-volatile memory market are Microchip Technology Inc, Tower Semiconductor, GlobalFoundries Inc, eMemory Technology Inc, Texas Instruments Inc, Hua Hong Semiconductor Ltd, Taiwan Semiconductor Manufacturing Co Ltd, United Microelectronics Corp, Semiconductor Manufacturing International Corp, and Synopsys Inc, among others.

• In March 2023, Texas Instruments expanded its broad analog and embedded processing semiconductor portfolio by introducing a scalable Arm Cortex-M0+ microcontroller (MCU) portfolio that features a wide range of computing, pinout, memory, and integrated analog options.
• In August 2020, Hua Hong Semiconductor Limited, a leading specialty pure-play foundry, has announced the debut of a 90nm ultra-low-leakage (ULL) embedded flash (eFlash) and electrically erasable programmable read-only memory (EEPROM) process platform to satisfy the needs of large-capacity microcontroller units (MCU). The process platform, which builds on Hua Hong Semiconductor's 0.11m ultra-low-leakage technology, offers customers a competitively differentiated and cost-effective solution with lower power consumption, suitable for Internet of Things (IoT), wearables, industrial and automotive electronics, and other applications.

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