Memristor Market Expected to Reach $79.0 Million by 2020, Globally - Allied Market Research

PORTLAND, Oregon and PUNE, India, February 22, 2017 /PRNewswire/ --

According to a new report published by Allied Market Research, titled; "Memristor Market by Type and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2014-2022", the memristor market was valued at $3.2 million in 2015 and is projected to reach $79.0 million by 2022, growing at a CAGR of 69.9% from 2016 to 2022. The Molecular & Ionic film memristor segment held major share in the total market in 2015.

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Summary of the Report Memristor Market can be accessed on the website at: https://www.alliedmarketresearch.com/memristor-market

Memristors are basic circuit elements, which possess the property of memory as well as resistors. The memristors have emerged as a viable substitute of flash memories and they also help in the fabricating advanced neural networks. The market of memristor is in its nascent phase of commercialization and companies are indulging in partnerships to increase their research and development budget to make this technology commercially more viable. Molecular & Ionic Film Memristor held over half of the market in 2015.

According to Komal Sharma, Research Analyst, Semiconductor and Electronics at Allied Market Research, "Memristor market is currently in its nascent phase of commercialization as most of the players are spending on R&D of this technology. However, apart from being a viable substitute of flash memories, this technology has immense possibilities to contribute and change the course of neural and synaptic networks.  With the increasing trend of IoT and rise in demand of artificial intelligence across several industry verticals, lucrative opportunities are awaiting in the global memristor market."

Factors that drive the growth in the global memristor market include advantage of memristor over other memories, increase in demand for industrial robots that require memory element, increase in number of data centers, and growth in number of portable electronic products where memristor has emerged as a replacement of non-volatile memories. However, high initial cost and variation of understanding among stakeholders restrain the growth in memristor industry; though, growth in trend of Internet of Things (IoT) and growth in demand of neural networks open new opportunities for the players in memristor market.