Memristor Market to See a Massive Financial Boost in the Forecast Period of 2022
Memristor market is currently in its nascent phase of commercialization as most of the players are spending on R&D of this technology. However, apart from being a viable substitute of flash memories, this technology has immense possibilities to contribute and change the course of neural and synaptic networks. With the increasing trend of IoT and rise in demand for artificial intelligence across several industry verticals, lucrative opportunities are awaiting in the global memristor market.
Memristor Market is expected to garner $79.0 million by 2022, registering a CAGR of 69.9% during the period 2016 – 2022. The Molecular & Ionic film memristor segment held a major share in the total market in 2015.
Molecular & Ionic Film Memristor held the largest share in the memristor industry in 2015 and is expected to maintain its dominant position throughout the analysis period, due to the remarkable properties such as have easier fabrications and less cost. Hewlett-Packard (HP) is conducting research on titanium dioxide memristor, which is one of the types of molecular and ionic memristors.
Memristors are basic circuit elements, which possess the property of memory as well as resistors. The memristors have emerged as a viable substitute of flash memories and they also help in the fabricating advanced neural networks. The market of the memristor is in its nascent phase of commercialization and companies are indulging in partnerships to increase their research and development budget to make this technology commercially more viable. Molecular & Ionic Film Memristor held over half of the market in 2015.
Factors that drive the growth in the global memristor market include the advantage of memristor over other memories, increase in demand for industrial robots that require memory element, increase in a number of data centers, and growth in the number of portable electronic products where memristor has emerged as a replacement of non-volatile memories. However, high initial cost and variation of understanding among stakeholders restrain the growth in memristor industry; though, growth in trend of Internet of Things (IoT) and growth in demand of neural networks open new opportunities for the players in memristor market.
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In 2015, North America and Europe collectively accounted for over two-thirds of the total memristors market and are expected to continue this trend due to the presence of major players in the region, which indulge in R&D. Furthermore, developed nations present in the region are amongst the first ones to incorporate the advanced technologies. However, the unprecedented growth in electronic devices in Asia-Pacific region opens lucrative opportunities and high growth rate for the memristor market during the forecast period.
The major companies profiled in the report include HP development company, Intel Corporation, Knowm Inc., Micron Technology, Inc., Panasonic Corporation, Rambus Incorporated, Samsung, SanDisk Corporation, Sk Hynix Inc., L.P., and Toshiba Corporation.
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