The growing adoption of FRAM across different sectors can cause the global market of FRAM to expand at 3.78% CAGR across the review period (2018 to 2025). The presence of a ferroelectric layer in FRAM instead of a dielectric layer aids in achieving non-volatile memory. This surge in demand for non-volatile memory storage solutions is likely to cause a hike in the revenue generation of the worldwide FRAM market. MRFR recorded the global FRAM market to value at USD 265.4 Million in 2018 that is expected to increase to a valuation of USD 343.2 Mn by 2025.
The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.
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The segmental study of the global FRAM market is done on the basis of product type, application, and interface.
By interface, the market segments are serial and parallel. The serial segment to contribute significantly to the expansion of the global FRAM market in the assessment period. Features of serial FRAM, such as a variety of density and interface options that include I2C interface and serial peripheral interface (SPI) can propel the growth of the global market. According to MRFR analysis, the parallel FRAM segment can register high CAGR in the review period as parallel FRAM is a suitable substitute for SRAM in office equipment, industrial machinery, medical devices, and others as in this case data can be stored without the need for a battery.
By application, Covid 19 FRAM Market segments are metering or measurement, automotive, enterprise storage, telecommunication, factory automation, medical, and others. MRFR study reveals that the telecommunication segment is expected to thrive at a high CAGR across the review period, followed by the automotive segment. FRAM is extensively used in the infotainment system of automobiles and in telecom subsystems. Moreover, the high utility of FRAM in the medical field, such as by CT scan manufacturers, can also spur the FRAM market growth.
The FRAM market in the APAC region is expected to thrive at 3.11% across the forecast period because of the fast-paced growth of the automobile industry, states MRFR. The growing need for smart infotainment and navigation system in car models are likely to contribute to the expansion of the regional market. It is also expected to cause an escalation in the market valuation of USD 114.5 million by 2025.
Fujitsu Ltd (Japan), Texas Instruments (US), Rohm Co., Ltd (Japan), and Cypress Semiconductor Corp (US) are a few players functioning in the global FRAM market. MRFR states that these companies are focusing on the diversification of their product portfolio, where they are making deliberate efforts to provide enhanced solutions. This is intensifying the competition among the market players, which, in turn, is expected to benefit the market.
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