Market and Technology Trends
Emerging Non-Volatile Memory 2023
By Yole Intelligence —
The future of Emerging Non-Volatile Memory is in embedded applications. By 2028, ~1M 12” wafers with embedded ENVM will be shipped in a market worth ~$2.7B.
Scope of the report
Methodologies & definitions
About the authors
Companies cited in this report
What we got right, what we got wrong
2023 Report updates
Emerging NVM market forecasts
- MRAM market forecast
- PCM market forecast
- RRAM market forecast
Context – Overview of the Memory business
- Stand-alone memory
- Embedded memory
- Memory market players
Overview of emerging non-volatile memory
Emerging non-volatile memory applications
- Fast/reliable memory (NVRAM-like)
- Code/data storage (NOR-like)
- Low-latency storage (SCM Drive)
- Persistent memory (NVDIMM)
- Embedded NVM for analog ICs
- Embedded NVM for MCUs, CIS, ASIC, etc.
- Embedded cache Memory for (x)PU
- Embedded NVM for edge AI
Main Emerging Technologies and Roadmaps
- MRAM technology and roadmaps
- PCM technology and roadmaps
- RRAM technology and roadmaps
2022-2023 highlights by player and technology
- MRAM: 2022-2023 Highlights by player
- PCM: 2022-2023 Highlights by Player
- Intel Optane: a technology and its downfall
- RRAM: 2022-2023 Highlights by Player
Ferroelectric and other newly emerging NVM
- DNA-Based Storage - Overview
China’s emerging non-volatile memory landscape
Mergers & acquisitions and industry news
Appendix – Definitions and taxonomy
About Yole Group
Yole Group Corporate Presentation
3D Plus, 4DS, AAC, Clyde Space, Aeroflex, Alliance Memory, Ambiq Micro, AMT, AMD, ASMC, Analog Devices, Antaios, Applied Materials, ARM, Avalanche, CAES, Catalog, CEA Leti, CEC Huada, Cerfe Labs, CNE, Continental, CSMC, Crocus Nanoelectronics, Crossbar, CXMT, Cypress, DapuStor, Dell, Dialog Semiconductor, DNA Script, Dongbu HiTek, eMemory, eVaderis, Everspin, Evonetix, Falinux, Ferroelectric Memory Company, Fidelix, Floadia, Fraunhofer, Fujitsu, GalaxyCore, Georgia Institute of Technology, GigaDevice, GlobalFoundries, GreenWaves, GSI Technology, Gyrfalcon, HawAI.tech, Helixworks Technologies, HFC, Hikstor, HiSilicon, Hitachi, HLMC, Honeywell, Houmo.AI, Hprobe, Huahong, Huawei, IBM, IC’ALPS, Illumina, IMEC, Infineon, Innostar, Innovation Memory, Inston, Intel, Intrinsic Semiconductor, Iridia, ISSI, ITRI, Jiangsu Advanced Memory Technology, JHICC, Keysight, Kilobaser, Kioxia, LA Semiconductor, Lapis, Lenovo, Liqid, Lyontek, Macronix, Magna Chip, Marvell, Maxim, MemVerge, Merck, Meta, Microchip, Micron, Microsoft, Micross, Molecular Assemblies, Mythic, NamLab, Nantero, Nanya, Nanyan Technological University, National Tsing Hua University, NEC, NanoBridge Semi, Netsol, Nexchip, Nordic Semiconductor, Numem, Nuvoton, Nvidia, NXP, Omnivision, PowerChip, QuickLogic, Rain Neuromorphics, Rambus, Renesas, Rimac Technology, Rohm, Samsung, SanDisk, Shanghai Ciyu, Silicon Labs, SilTerra, Singulus, SK hynix, SkyWater, Smart Modular Technologies, Smartnvy, SMIC, Solidigm, Solidigm, Sony, Spin Ion Technologies, Spin Memory, Spin-Orbitronics Technologies, Spintec, STMicroelectronics, sureCore, Synthomics, TDK, Teledyne e2v Semiconductors, Tencent, Texas Instruments, THine Electroics, Tohoku University, Tokyo Electron, TowerSemi, Truth Memory, Tsinghua Unigroup,Tsinghua University, TSMC, Twist Bioscience, UMC, University of California Los Angeles, University of Washington, VIS, Weebit, Western Digital, Winbond, XFab, Xi’an UniIC Semiconductors, XMC, XTX, Yizhu Technology, YMTC, and more.
Embedded applications will drive the Emerging Non-Volatile Memory (ENVM) market
In July 2022, Intel confirmed it was ending Optane development. Although this represents a significant blow for stand-alone ENVM, prospects remain bright for embedded ENVM as adoption is pushed by the lack of embedded flash for process nodes below 28nm. By 2028, we forecast that more than 1 million 12’’ equivalent wafers per year will be manufactured by leading foundries using technology platforms that incorporate embedded PCM, ReRAM, or MRAM (CAGR22-28 of ~94%). By then, this would represent a market worth ~$2.7B, with RRAM accounting for ~60% of the wafer volume and MRAM with ~25%. The most important applications will be embedded NVM for Microcontrollers (MCUs) and Analog ICs, with ~450K and ~420K wafers per year, respectively. The MCU segment is now taking off, driven by ongoing technology migrations towards nodes smaller than 40nm. In addition, on-die embedded memory solutions will be necessary for applications requiring low latency, low power consumption, and reliable operation in terms of security and safety.
MRAM will dominate the embedded NVM market, followed by RRAM
After a long time in R&D, embedded ENVM – i.e., MRAM, PCM, and RRAM – are finally in the market or very close to commercialization. Spin-Transfer Torque (STT) MRAM continues to gain momentum and has the most significant revenue potential compared to RRAM and PCM (49%, 37%, and 14% of the total revenue in 2028, respectively). The leading foundries/IDMs are qualifying the technology for automotive MCUs, a market worth ~$8.7B in 2022. Embedded MRAM (eMRAM) is expected to be used for low-power MCU/SoC chips and in various ASIC products, IoT and wearables, for instance, and CMOS Image Sensors as a memory buffer. While MRAM provides an exciting combination of low-power consumption, high density, and low latency, RRAM is appealing for its ease of integration with fab-friendly materials and relatively lower cost. Embedded PCM has potential for automotive MCUs (currently in sampling stages) and Power ICs (under development), offering good performance for high-temperature operation.
New products recently announced confirm the embedded ENVM ecosystem growth
There is consensus in the industry that 28/22nm could be the end of eFlash, not because of scalability limitations but because of economic barriers, and therefore a new embedded NVM for code/data storage is needed. The leading foundries/IDMs offering embedded ENVM in their catalogs are TSMC, GlobalFoundries, Samsung, UMC, and STMicroelectronics. Most have established strategic alliances with specialized ENVM suppliers to leverage their IP and accelerate mass adoption of embedded emerging NVM at process nodes below 40nm. In late 2022, the first microcontroller product for automotive applications employing embedded RRAM was announced by Infineon, manufactured on a 28nm process by TSMC. The announcement has renewed interest in RRAM technologies, highlighting its readiness for mass production for automotive MCUs. In April 2023, Nordic Semiconductor launched its low-power wireless SoC nRF54H20, manufactured on a 22nm FD-SOI process by GlobalFoundries. We believe it utilizes embedded MRAM (2MB). In May 2023, NXP and TSMC disclosed being in the development stage of MRAM IP using 16nm FinFET technology, confirming the sound dynamics and prospects for embedded NVM, as well as TSMC leadership in terms of ENVM scaling and maturity.
- Overview of the semiconductor memory market
- Analysis of key applications of ENVM for embedded and stand-alone applications.
- Technology trends leading to ENVM implementation.
- Highlights by main player and by technology in the last year.
- Detail and analyze the competitive landscape.
- Market forecast, player’s roadmaps, and technical trends for PCM, MRAM and RRAM.
- Analysis on Intel’s decision on ceasing 3D XPoint development and Optane commercialization in the coming years, as well as Optane’s legacy and updated forecast on stand-alone ENVM for Storage Class Memory (SCM) drives and Persistent Memory (PMEM) modules.
- Updated market forecast, player’s roadmaps, and technical trends for PCM, MRAM and RRAM.
- Present an overview of the semiconductor memory market:
- Stand-alone (e.g., NAND, DRAM, NOR) and embedded memory (eFlash, SRAM): main markets, and trends.
- Technology status and revenue by technology.
- Provide an understanding of emerging Non-Volatile Memory (NVM) applications:
- Market drivers and challenges, technology roadmap, players, and main trends are provided for ten application fields: four for stand-alone and six for embedded. Main trends and opportunities for emerging NVM are provided.
- Offer market forecasts for emerging NVM businesses:
- 2022-2028 market forecast in US$, Gb, number of dies, and equivalent 12’’ wafers.
- Price evolution, by both application and technology.
- Forecast for ten applications and three technologies (MRAM, RRAM, PCM).
- Technology description of emerging NVM typologies:
- Working principles, manufacturing methods, advantages/limitations, development status, price, time-to-market.
- Roadmap with technological nodes, and chip density evolution with leading players.
- Latest product development status for each key market player.
- Detail and analyze the competitive landscape:
- Recent acquisitions and funding.
- Latest company news.
- Key players by technology and application.
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