Ferroelectric Random-Access Memory (FRAM) Market Outlook, Growth By Top Companies, Drivers, Trends and Forecast by 2028
Global Ferroelectric Random-Access Memory (FRAM) Market – Industry Trends and Forecast to 2028
Market Analysis and Insights: Global Ferroelectric Random-Access Memory (FRAM) Market
Ferroelectric random-access memory (FRAM) market size is valued at USD 376.4 million by 2028 is expected to grow at a compound annual growth rate of 3.80% in the forecast period of 2021 to 2028. Data Bridge Market Research report on ferroelectric random-access memory (FRAM) provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Ferroelectric random-access memory (FRAM) is basically a low-power non-volatile, high-performance memory which retains the data even after the power is turned off. It uses ferroelectric film as a capacitor for the storage of data, and is usually found in personal computers, workstations and non-handheld game-consoles. It requires a memory restore after each read.
The surging use of ferroelectric random-access memory in automotive and electronic applications is the prime significant factors responsible for driving the growth of market over the forecast period of 2021 to 2028. Moreover, the usage of ferroelectric random-access memory in FRAM-based smart meters and the advantages associated with ferroelectric random-access memory (FRAM) such as high read-and-write endurance, lesser power consumption and expeditious write performance over flash memory make it highly beneficial for IT and telecommunications, and the automobile industry which is also projected to flourish the growth of the ferroelectric random-access memory (FRAM) market. However, the temporary halt in the production of new chips is anticipated to act as the major restraining factor of ferroelectric random-access memory (FRAM) market in the above mentioned forecasted period.
Likewise, the factors such as increase in demand for fast memory operations in smart card applications and security systems and the various developments in the market by manufacturers are expected to create various new opportunities that will lead to the growth of the ferroelectric random-access memory (FRAM) market. On the other hand, the reduced installation of the smart meters and reduced production of new vehicles and electronic devices due to disruption caused by COVID-19 pandemic also slowed down the growth of market, resulting in major challenge for the market in the forecast period.
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