A new market report by Objective Analysis and Coughlin Associates expects that stand-alone MRAM and STT-MRAM revenues will grow 170X from 2018 to 2029, reaching almost $4 billion in revenues. The growth of next-generation memory technologies will be mainly driven by displacing today’s less efficient memory technologies like NOR flash and SRAM.
The analysts expect many memory technologies, including DRAM, 3D Xpoint and NAND to grow in the coming years, but the most stellar growth will be of MRAM memories. Shipments in terms of capacity are expected to grow from around 0.1 Petabytes in 2019 to almost 1 million Petabytes by 2029.
This huge demand for MRAM memories will spur a solid increase in equipment spending. It is expected that the MRAM equipment market will grow from $26 million in 2018 to $854 in 2029 - a 33X growth.