At 18.4% CAGR, the South & Central America Embedded Non-Volatile Memory Market is Projected to be worth US$ 84.50 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the South & Central America embedded non-volatile memory market was valued at US$ 21.94 million in 2022 and is expected to reach US$ 84.50 million by 2030, registering a CAGR of 18.4% from 2022 to 2030. Growing investment in commercialization of embedded non-volatile memory and expansion of automotive industry are among the critical factors attributed to the South & Central America embedded non-volatile memory market expansion. 

The expansion of consumer electronics and automotive industries is boosting the demand for embedded non-volatile memory among manufacturers. The growing demand for embedded non-volatile memory among automotive manufacturers encourages market players to increase their production and commercialize embedded non-volatile memory. Moreover, many international and domestic players are raising funding for developing embedded non-volatile memory tech.

On the contrary, global shortage of semiconductor chips hurdles the growth of South & Central America embedded non-volatile memory market. 

Based on product, the South & Central America embedded non-volatile memory market is categorized into eFlash, eE2PROM, FRAM, and others. The eFlash segment held 44.2% market share in 2022, amassing US$ 9.71 million. It is projected to garner US$ 34.84 million by 2030 to expand at 17.3% CAGR during 2022–2030.

Based on application, the South & Central America embedded non-volatile memory market is categorized into consumer electronics, automotive, robotics, and others. The others segment held 41.9% share of South & Central America embedded non-volatile memory market in 2022, amassing US$ 9.20 million. It is projected to garner US$ 30.43 million by 2030 to expand at 16.1% CAGR during 2022–2030.

Based on country, the South & Central America embedded non-volatile memory market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 60.2% share of South & Central America embedded non-volatile memory market in 2022. It was assessed at US$ 13.21 million in 2022 and is likely to hit US$ 53.92 million by 2030, exhibiting a CAGR of 19.2% during 2022-2030. 

Key players operating in the South & Central America embedded non-volatile memory market are Microchip Technology Inc, Tower Semiconductor, Texas Instruments Inc, Taiwan Semiconductor Manufacturing Co Ltd, Semiconductor Manufacturing International Corp, and Synopsys Inc, among others.

• In Sep 2023, GlobalFoundries and Microchip Technology announced the release to production of the SST ESF3 third-generation embedded SuperFlash technology NVM solution in the GF 28SLPe foundry process.
• In Sep 2021, Tower Semiconductor announced a partnership to develop the world's first Silicon Photonics (SiPho) process with integrated quantum dot lasers, addressing optical connectivity in the AI/ML and disaggregated computing (data center) markets.

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