According to the research report titled, ‘Global MAGNETO RESISTIVE RAM (MRAM) Market Size study, by Type (Toggle MRAM and Spin-Transfer Torque MRAM), Application (Consumer Electronics, Robotics, Automotive, Enterprise Storage, Aerospace and Defense), and Regional Forecasts 2021-2027,’ available with MarketStudyReport, global magneto resistive RAM market is anticipated to register an annual growth rate of 62.12% during 2021-2027.
 

Escalating demand for flexible electronic products and wearables and increasing investments to cater to the development of next generation read access memory are aiding towards the expansion of global magneto resistive RAM market.
 

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For the unversed, MRAMs are considered superior than traditional NAND, SRAMs, and DRAMs as they are comparatively faster, consume less power, and have the ability to store data even in the absence of power. These memory chips are also highly expandable and can read as well as write a large amount of data.
 

In addition, continuous technological advancements in the field and the growing usage of artificial intelligence in the sector are augmenting industry outlook.  On the contrary, surging manufacturing costs associated with these memories might hamper the remuneration scope of the industry vertical in the coming years.
 

Based on type, global magneto resistive RAM market is split into spin-transfer torque MRAM and toggle MRAM.
 

By offering, the marketplace is bifurcated into stand alone and embedded, whereas, segmented on the basis of application includes automotive, consumer electronics, aerospace & defense, robotics, and others.
 

Regionally speaking, North America, Latin America, Asia Pacific, and Europe are considered to understand the dynamics pf this business sphere. Among these, North America held a substantial amount of overall market revenue in 2020 owing to surging research and development activities in the region.
 

Meanwhile, Asia Pacific market is projected to showcase lucrative growth trends during 2021-2027 accreditable to strong demand for smart wearable products and prompt digitalization in several emerging nations like India and China.
 

Key players defining the competitive hierarchy of worldwide magneto resistive RAM market are Samsung Electronics Co. Ltd., Honeywell International Inc., Crocus Nano Electronics LLC, Qualcomm Inc., NVE Corporation, Avalanche Technology Inc., Intel Corporation, Spin Memory Inc., Toshiba Corporation, and Everspin Technologies Inc.