NOR Flash Market Share & Size | Global Report Forecast 2028
The NOR Flash Market is projected to reach US$ 6,069.5 million by 2028 from US$ 2,361.9 million in 2021; it is estimated to grow at a CAGR of 14.4% from 2021 to 2028.
NOR flash memory is an electronic nonvolatile computer memory storage medium that can be electrically deleted and reprogrammed. The growing demand for NOR flash in applications where individual bytes of data need to be written and read, and random access and execute-in-place access are required is boosting the market growth. NOR flash solutions have capacities in megabits and low gigabits range, which is their major feature. Further, high reliability and data integrity features have led to an increased customer base for NOR flash memory over the years. Rising demand for consumer electronics and communication devices, and the increasing penetration of electronics in automotive and industrial applications boost the NOR flash market growth. Further, the increasing applications of NOR flash memory in automotive, industrial, and medical sectors as well as in technologies such as the Internet of things (IoT), active-matrix organic light-emitting diode (AMOLED), and liquid crystal display (LCD) would drive the market during the forecast period.
Impact of COVID-19 Pandemic on NOR Flash Market
The COVID-19 pandemic hampered the economic growth of the manufacturing sector in most countries due to business shutdown and lockdown restrictions. Sales of products such as cars and electronics also declined for a few months in 2020. The shuttering of office premises, public places, schools, transportation, and other spaces also hampered the market growth. The semiconductors industry took a significant hit as dur to the lowering of demand for electronic components from the industrial sector. The revenue model for microelectronics has declined as no mass production was carried in the lockdown period. Post lockdown, the semiconductors industry started to regain the market share as production facilities resumed their operations, simultaneously ensuring compliance with all necessary measures. Besides, work from home and remote monitoring strategies also contributed to surge in the sale of advanced electronics products for better connectivity. The renewed importance of the IT and telecommunications sectors allowed them to evolve in accordance with new technologies such as IoT connectivity and high-speed, wi-fi-compatible packaging technologies. According to the Semiconductor Industry Association (SIA), the global semiconductor sales increased by 11% in the Q3 2020, which added to the demand for NOR flash memory.
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NOR Flash Market: Strategic Insights
NOR Flash Market
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![](https://www.theinsightpartners.com/assets/images/rd_int_img/cagr.png)
CAGR (2021 - 2028)
14.4%
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Market Size 2021
US$ 2.36 Billion
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Market Size 2028
US$ 6.07 Billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Cypress Semiconductor Corporation
- Integrated Silicon Solution Inc.
- Micron Technology, Inc.
- Winbond Electronics Corporation
- Microchip Technologies, Inc.
- Macronix International Co., Ltd
- JSC
- Elite Semiconductor Microelectronics Technology Inc.
- Dialog Semiconductor
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Serial NOR Flash and Parallel NOR Flash
Density
- Less than 250Mb
- 250Mb-1Gb
- More than 1Gb
Application
- Industrial
- Telecommunication
- Networking
- Automotive
- Smart Grid Space
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
NOR Flash Market: Strategic Insights
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CAGR (2021 - 2028)14.4% -
Market Size 2021
US$ 2.36 Billion -
Market Size 2028
US$ 6.07 Billion
![](https://www.theinsightpartners.com/assets/images/rd_int_img/tip-logo.jpg)
Market Dynamics
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Key Players
- Cypress Semiconductor Corporation
- Integrated Silicon Solution Inc.
- Micron Technology, Inc.
- Winbond Electronics Corporation
- Microchip Technologies, Inc.
- Macronix International Co., Ltd
- JSC
- Elite Semiconductor Microelectronics Technology Inc.
- Dialog Semiconductor
Regional Overview
![](https://www.theinsightpartners.com/assets/images/rd_int_img/ig-regional.png)
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
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- Serial NOR Flash and Parallel NOR Flash
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- Less than 250Mb
- 250Mb-1Gb
- More than 1Gb
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- Industrial
- Telecommunication
- Networking
- Automotive
- Smart Grid Space
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
NOR Flash Market Insights
Increasing Need for Advanced Features Boosts NOR Flash Market Growth
The rapidly expanding technological developments, coupled with the humongous production of data, has critically increased the demand for flash memory solutions that are capable of handling large data efficiently. The NOR flash memory fits into almost every expectation of end user, as they deliver a better-read performance and operate faster than already existing memory technologies. NOR flash memory is one of two types of nonvolatile storage technologies. It is most used in applications that require individual bytes of data to be written and read, and it is also used in random access and execute-in-place access techniques. The consumer electronics industry is witnessing immense growth in both developed and developing countries majorly due to advancements and smart features of modern devices. As a result, smartphones, tablets, PCs, TVs, washing machines, refrigerators, and music players have become an integral part of people’s lives. These devices are becoming smarter with the ongoing technological advancements and integration of the Internet of things (IoT) and artificial intelligence (AI) with them.
Application Based Market Insights
There is an increase in demand for NOR flash memory in many industrial applications, requiring more code and data storage. The demand for embedded, serial NOR flash memory is increasing with the device developers seeking high-density embedded memory solutions that can provide storage at the lowest available cost per gigabit. Various industrial devices, such as security systems, military systems, and retail management products, require highly efficient NOR flash memory for data storage. Industrial manufacturers are focusing on implementing industrial IoT (IIoT) in their manufacturing plants to have control over the machines within these plants. This technology helps the companies to remotely monitor each machine throughout the production process. The growing influence of internet of Things (IoT) and artificial intelligence (AI) has propelled the demand for smart servers and devices, leading to the requirement of higher transfer speed and computing power. Thus, needs of high-quality storage devices would propel the demand for large sensor-based electronic integrations, thereby pushing the growth of the NOR flash market.
Players operating in the NOR Flash Market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by the key players are listed below:
- In 2021, Winbond Electronics Corporation, a major global supplier of semiconductor memory solutions, has announced the addition of a new single die monolithic 1.8V 512Mb SPI NOR flash that can handle up to 166 MHz standard/dual/quad SPI clocks to their comprehensive solution of SPI NOR flash.
- In 2020, Infineon Technologies AG expands its memory capabilities with the acquisition of Cypress Semiconductor Corporation. Semper Secure is now available for Infineon's award-winning Semper NOR Flash memory platform. Semper Secure NOR Flash is the first memory solution to combine security and functional safety in a single NOR flash device, delivering the security, safety, and reliability required for the most advanced connected automotive, industrial, and communications systems. It is based on Semper NOR Flash's field-proven and robust smart memory architecture.
NOR Flash Market Report Scope
Report Attribute
Details
Market size in 2021
US$ 2.36 Billion
Market Size by 2028
US$ 6.07 Billion
Global CAGR (2021 - 2028)
14.4%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Type - Serial NOR Flash and Parallel NOR Flash
By Density - Less than 250Mb
- 250Mb-1Gb
- More than 1Gb
By Application - Industrial
- Telecommunication
- Networking
- Automotive
- Smart Grid Space
- Others
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
Cypress Semiconductor Corporation
Integrated Silicon Solution Inc.
Micron Technology, Inc.
Winbond Electronics Corporation
Microchip Technologies, Inc.
Macronix International Co., Ltd
JSC
Elite Semiconductor Microelectronics Technology Inc.
Dialog Semiconductor
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
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Market size in 2021 | US$ 2.36 Billion |
Market Size by 2028 | US$ 6.07 Billion |
Global CAGR (2021 - 2028) | 14.4% |
Historical Data | 2019-2020 |
Forecast period | 2022-2028 |
Segments Covered |
By Type
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Regions and Countries Covered | North America
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Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
The global NOR Flash Market has been segmented as follows:
By Type
- Serial NOR Flash
- Parallel NOR Flash
By Density
- Less than 250Mb
- 250Mb-1Gb
- More than 1Gb
By Application
- Industrial
- Telecommunication
- Networking
- Automotive
- Smart Grid Space
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- Cypress Semiconductor Corporation
- Integrated Silicon Solution Inc.
- Micron Technology, Inc.
- Winbond Electronics Corporation
- Microchip Technologies, Inc.
- Macronix International Co., Ltd
- JSC
- Elite Semiconductor Microelectronics Technology Inc.
- Dialog Semiconductor
- GigaDevice
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Type, Density and Application
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America held the significant market share in year 2020, along with the notable revenue generation opportunities in Europe and APAC.
Cypress Semiconductor Corporation; Dialog Semiconductor PLC; Gigadevice; Integrated Silicon Solution Inc.; JSC; Kioxia Corporation; Macronix International Co., Ltd; Micron Technology, Inc.; and Winbond Electronics Corporation are among the prominent players operating in the global NOR flash market.
Based on the type, the NOR flash market is segmented into serial NOR flash, and parallel NOR flash. The global NOR flash market is dominated by serial NOR flash segment in 2020, which accounted for 66.9%.
The vision for the Internet of things (IoT) industry-wide foresees the installation of an abundance of connected devices into the global network. Such unprecedented growth in the installation of connected devices has resulted in a critical memory challenge for the IoT, which is being addressed by innovative memory technologies. NOR flash memory delivers quick random readings and long-term dependability, making it suited for automotive, medical, and portable consumer devices as mobility and IoT grow. Besides, the demand for NOR flash memories in the IoT market will be escalated by the rising need for interoperability to support the multiple protocol stack for fulfilling the lack of worldwide adopted IoT connectivity standards. The cost, power consumption, size, dependability, performance, and security level of IoT devices must all be considered. Moreover, the expectations placed on NOR flash are similar to those placed on other IoT devices – low cost, low power consumption, small size, high reliability, performance, and security.
The automotive sector deploys large efforts to transform the driving experience for its users. Recently, electric vehicles have found profound attraction in the end-user circles, coupled with the boost from governmental authorities, owing to the environment-friendly nature of these cars. The automobiles of today are becoming smarter, becoming more capable of self-diagnostics, and are anticipated to also getting connected for communication purposes. Trends such as advanced driver assistant systems (ADAS), infotainment systems, and car telematics have been trending in the automotive industry for quite some time now. The success of these trends is entirely attributed to the sophistication and technological advancements in the semiconductor industry. Furthermore, NOR flash is emerging as a replacement for EEPROM (electronically erasable programmable read-only memory) in many applications, owing to its programmability characteristics.
Increasing Need for Advanced Features
Growing Digitalization and Emergence of Data-Centric Applications
The List of Companies - NOR Flash Market
- Cypress Semiconductor Corporation
- Integrated Silicon Solution Inc.
- Micron Technology, Inc.
- Winbond Electronics Corporation
- Microchip Technologies, Inc.
- Macronix International Co., Ltd
- JSC
- Elite Semiconductor Microelectronics Technology Inc.
- Dialog Semiconductor
- GigaDevice