Serial NOR Flash Market Synopsis and Highlights, Key Findings, Major Companies Analysis and Forecast to 2023

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Market Snapshot

The global serial NOR flash market is poised to capture 4.8% CAGR during the review period (2019-2025) and reach a valuation of USD 1,306.9 million. Technological advancements and innovation in serial NOR flash market has led to an expansion of its application peripheries. The latest versions of serial NOR market flash have more physical interface options and memory size. They are increasingly being used in data storage and computation purposes. Electronic products such as touch screens, display controllers and AMOLED panel consist of serial NOR flash.

Market growth is also linked with the increased sales of consumer electronics globally. Popularity of portable electronic devices has grown in leaps and bounds in recent years, which remains a key force behind the growth of serial NOR flash market. 

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Global Serial NOR Flash Market, By Region, 2017

China dominates the global NOR Flash market. In 2017, it accounted for over 34% market share in terms of revenue. The China serial nor flash market is projected to witness 5.8% CAGR during the review period. China being an electronics manufacturing powerhouse presents significant opportunities to market players. In addition, China makes a significant contribution to the global serial NOR flash supply. China’s might in automotive manufacturing and electronics manufacturing gives it an edge in the global serial NOR flash. Other macroeconomic factors such as growing purchasing power and introduction of favorable policies are also influencing the market growth in the region.

The market in North America is also expected remain highly attractive during the forecast period. Presence of an established electronics industry and enforcement of new policies to boost domestics manufacturing is creating growth opportunities for companies operating in the North America Serial NOR Flash Market. It is projected that the market in the region will increase at 4.4% CAGR during the projection period.

Companies Covered

ASE Group, Intel Corporation, TDK Corporation, Amkor Technology, Jiangsu Changjiang Electronics Technology Co. Ltd., Vicor Corporation, Panasonic Corporation, ON Semiconductor, Texas Instruments Incorporated and Bel Fuse Inc.

The global serial NOR flash market is highly competitive and characterized by a large number of manufacturers, suppliers, and third-party vendors. However, there are some market players how are more recognized than others such as Intel Corporation (US), Panasonic Corporation (Japan) Amkor Technology (US). These companies account for a relatively higher revenue share and hold superior market positions. Players operating in the market are focusing on expanding product portfolio and product innovation.

The report covers the development strategies adopted by the companies between 2015 to 2019.  Market players adopted various strategies to retain and/or expand their market share.

Market Segmentation

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, automotive and industrial, communication and others.

Type Analysis

The high-density serial NOR memory (above 32 MB) segment was valued at USD 586.7 million and is expected to surge at a CAGR of 4.93% between 2019 and 2025. The segment is likely to hold its dominant position in 2019 and beyond. Factors such as rising demand for plug-in memory and availability of superior controller functions are supporting the growth of the segment.

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Application Analysis

The consumer electronics segment accounts for the largest market share. In 2017, the segment stood at a market valuation of USD 297.1 million and is poised to expand at a CAGR of 4.95% during the forecast period. Serial NOR flash memory is used is a wide range of consumer electronics, which include digital TVs, printers, smart meters, set top boxes, CCTV cameras, and modem/home-gateways/Wi-Max.

Key questions addressed by the report

What was the historic market size (2017)?
Which market segments to monitor?
What will be the growth rate by 2025?
Who are the key players in this market?
What are the strategies adopted by key players?

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