Emerging Non-Volatile Memory 2024

Glossary and definitions

Objectives of this report

Scope of this report

Methodology & definitions

About the authors

Companies cited in this report

What we got right, what we got wrong

3-page summary

Executive summary

Context – Memory market overview

• Stand-alone memory
• Embedded memory

Emerging NVM market forecast (2019 - 2029)

• Embedded emerging NVM for MCUs
• MRAM market forecast
• PCM market forecast
• RRAM market forecast
• Novel ferroelectric NVM market forecast

Emerging NVM applications – overview

Stand-alone emerging NVM applications and use-cases

• Fast / reliable memory (NVRAM-like)
• Code / data storage (NOR-like)
• Low-latency storage (SCM drive)
• Persistent memory (NVDIMMs)

Embedded emerging NVM applications and use-cases

• Analog ICs
• Microcontrollers, SoCs, and ASICs
• Imaging and AR/VR
• Processors (incl. chiplet solutions)
• Near- and in-memory computing

Emerging NVM players, roadmaps, and business dynamics

• Commercialization, roadmaps
• List of M&As, noteworthy news and technical papers
• China’s memory business – focus on emerging NVM

Emerging NVM technologies

• Overview of MRAM, PCM, and RRAM
• Embedded NVM – focus on foundries

Prospective NVM technologies

• Novel ferroelectric NVM technologies
• Others (SOT-MRAM, VCMA, NRAM, CeRAM, etc.)

Summary and conclusions

Related products

How to use our data?

Yole Group corporate presentation

Low-power SoCs, ASICs, and MCUs are fueling the emerging NVM market growth. Wafer volume is poised to rise over 110 KWPM in 2029.

Emerging NVM technologies (MRAM, PCM, and RRAM) continue to gain momentum for embedded code/data storage in microcontrollers (MCUs) and low-power SoCs /  ASICs for IoTs, wearables, and edge-AI devices. The lack of a cost-competitive eFlash solution at geometries smaller than 28nm is the main reason driving top foundries (e.g., TSMC, Samsung, GlobalFoundries, UMC) and IDMs (e.g., STMicroelectronics, Infineon, NXP) to invest actively in embedded NVM technologies to be integrated at nodes ≤ 28nm.

Embedded emerging NVM wafer volume has the potential to thrive, growing from ~3 KWPM in 2023 to ~110 KWPM in 2029 (CAGR23-29~80%). In terms of revenues, we estimate that the embedded market could reach ~$2.6B in 2029, with the three main eNVM technologies having similar growth potential.

The fastest-growing market segment is embedded NVM for MCUs, which is expected to represent more than 80% of embedded emerging NVM revenue in 2029. The volume of MCU wafers that incorporate emerging eNVM will grow very rapidly, from less than 1 KWPM in 2023 to 47 KWPM in 2029 (CAGR23-29~124%).

eRRAM and PCM are making inroads into the automotive market. eMRAM will first ramp up in low-power wearable/edge-AI applications.

There is consensus in the industry that 28/22nm will be the end of eFlash, not because of scalability limitations but because of economic barriers. Therefore, embedded emerging NVM – such as eMRAM, ePCM, and eRRAM – are highly desired, as they can be integrated into the back end of the line (BEOL) with a relatively low number of lithography masks (≤ 3). Embedded super flash (SST-Microchip) and MONOS (e.g., Renesas) solutions are available at 28nm and could potentially scale to smaller geometry. However, their manufacturing cost and complexity are poised to increase considerably at smaller nodes (e.g., number of masks > 25 at 28nm).

While eMRAM has already made inroads in the consumer market with many companies having introduced commercial products in the last few years (e.g., Nordic, Alif Semiconductors, Sony, Ambiq), eRRAM and ePCM are taking the lead in automotive market penetration, driven by major MCU suppliers such as Infineon (eRRAM) and STMicroelectronics (ePCM). The industrial market is the next target, and STMicroelectronics has taken the lead with the introduction of ePCM-based MCUs (18nm FDSOI).

We maintain a positive outlook on the potential of eMRAM for automotive applications, with NXP expected to start sampling 16nm FinFET MCUs in 2025. However, magnetic immunity – although not a critical problem for many practical use cases – could slow the adoption of eMRAM compared to eRRAM and ePCM.

Foundries and IDMs are ramping up emerging eMRAM, ePCM, and eRRAM at 28/22nm and are actively developing 10nm-class eNVMs

Major foundries – such as TSMC, Samsung, GlobalFoundries, and UMC – as well as IDM companies (e.g., STMicroelectronics), are ramping up the production of 28/22 nm wafers with eNVM technologies and are readying their next generations at nodes smaller than 20nm.

TSMC is currently producing with eMRAM (22nm) and eRRAM at 40nm (BCD), 28nm, and 22nm. The company is entering the pre-production phase of 16nm FinFET eMRAM and 12nm eRRAM.

Samsung is currently working on the development of 14nm FinFET-based eMRAM. In October 2023, at its Wafer Foundry Forum in Germany, Samsung announced that it will advance to 8nm and 5nm-based eMRAM in 2026 and 2027, respectively. Noticeably, Samsung has not disclosed plans for RRAM development.

In February 2023, GlobalFoundries acquired Renesas’s CBRAM technology – originally developed by Adesto – to target consumer applications, among which are home and industrial IoT and smart mobile devices. GlobalFoundries is also evaluating other eRRAM options (e.g., Weebit’s technology) and optimizing its 22nm FDSOI eMRAM for the industrial and automotive markets. The next eMRAM node for GlobalFoundries is 12nm.

STMicroelectronics continues its roadmap execution entirely focused on ePCM. In March 2024, the company introduced STM32 MCUs based on 18nm FDSOI with ePCM. The technology was co-developed with Samsung Foundry and will be used for industrial, communications, and healthcare applications. Note: it was not disclosed whether Samsung Foundry will be free to offer ePCM on 18nm FDSOI.

3D Plus, 4DS, AAC, Clyde Space, Aeroflex, Alliance Memory, Ambiq Micro, AMT, AMD, ASMC, Analog Devices, Antaios, Applied Materials, ARM, Atomera, 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, Instontech, Intel, Intrinsic Semiconductor, Iridia, ISSI, ITRI, Jiangsu Advanced Memory Technology, JHICC, Keysight, Kilobaser, Kioxia, LA Semiconductor, Lancaster University, Lapis, Lenovo, Liqid, Lyontek, Macronix, Magna Chip, Marvell, Maxim, MemryX, MemVerge, Merck, Meta, Microchip, Micron, Microsoft, Micross, Molecular Assemblies, Mythic, NamLab, Nantero, Nanya, NEC, NanoBridge Semi, Netsol, Nordic Semiconductor, Numem, Nuvoton, Nvidia, NXP, Omnivision, PowerSpin, PSMC, QuickLogic, QuInAs Technology, Rambus, Renesas, Rohm, Samsung, SanDisk, Shanghai Ciyu, Silicon Labs, SilTerra, Singulus, SK hynix, SkyWater, Smart Memories, Smart Modular Technologies, Smartnvy, SMIC, Solidigm, Solidigm, Sony, Spin Edge, Spin Ion Technologies, Spin Memory, Spin-Orbitronics Technologies, Spintec, STMicroelectronics, sureCore, Synthomics, TDK, Teledyne e2v, Telit Cinterion, Tencent, TetraMem, Texas Instruments, THine Electronics, Tohoku University, Tokyo Electron, TowerSemi, Truth Memory, Tsinghua Unigroup, Tsinghua University, TSMC, UMC, University of California Los Angeles, VIS, Weebit, Western Digital, Winbond, XFab, Xi’an UniIC Semiconductors, XMC, XTX, Yizhu Technology, YMTC, and more.

Key Features

• Analysis of embedded and stand-alone NVM technologies, applications, and related markets. A special focus is given to embedded NVM for MCUs.
• Description of key development and technical trends for a broad spectrum of emerging NVM technologies.
• Detailed analysis of the competitive landscape, with highlights by player.
• Market forecast, player roadmaps, and technical trends for PCM, MRAM, and RRAM (embedded and stand-alone) and high-κ oxide FRAM (stand-alone).

What's new?

• Market forecast for microcontrollers (MCUs) with embedded emerging NVM, by technology (eMRAM, ePCM, eRRAM) and end-market (automotive, industrial, consumer, secure ICs and others).
• Market forecast for stand-alone high-κ oxide FRAM. Its embedded counterpart will not enter the market before 2029, therefore it is not included in the analysis).
• Detailed list of relevant developments reported at major technical conferences (IEDM, VLSI, IMW, ISSCC).
• Detailed mapping of players active in the field of near- and in-memory computing with emerging NVM technologies.

Product Objectives

• Present an overview of the semiconductor memory market:
• • Embedded (eFlash, SRAM) and stand-alone memory (e.g., NAND, DRAM, NOR): 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 10 application fields: four for stand-alone and six for embedded. Main trends and opportunities for emerging NVM are also furnished.
• Offer market forecasts for emerging NVM businesses:
• • 2019 - 2029 market forecast in US$, Gb, number of dies, and equivalent 12’’ wafers.
  • Price evolution, by both application and technology.
  • Forecast for 10 applications and four technologies: MRAM, RRAM, PCM, and high-κ Oxide FRAM.
  • Forecast for microcontrollers with embedded emerging NVM, by technology (eMRAM, ePCM, eRRAM) and end-market (automotive, industrial, consumer, secure ICs, and others).
• 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 for leading players.
  • Latest product development status for each key market player.
  • Detailed list of “worth-watching” developments reported at major technical conferences (IEDM, VLSI, IMW, ISSCC).
• Detail and analyze the competitive landscape:
• • Recent acquisitions and funding.
  • Detailed mapping of players active in the near- and in-memory computing market space.
  • Latest company news.
  • Key players, by technology and application.