What is the market share of Non-Volatile Memory | Industry Trends & Forecast 2025

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Code: MTA11240

Publication Date: Nov 2025

What is the share of Non-Volatile Memory Market?

According to 6Wresearch internal database and industry insights, the Global Non-Volatile Memory Market was valued at USD 28 Billion in 2024 and is expected to reach USD 45.7 Billion by 2031, growing at a compound annual growth rate of 5.60% during the forecast period (2025-2031).

This growth is driven by increasing demand for high-performance computing, rapid advancements in storage technologies, and the growing need for data retention solutions. The market accounted for a significant share of 21% within the overall memory storage ecosystem in 2024.

Growth Factors for Non-Volatile Memory Industry

Rising demand for faster, more reliable memory solutions in data centers.
Growth of the Internet of Things (IoT) driving the need for efficient data storage.
Increasing use of NVMe (Non-Volatile Memory Express) technology in consumer electronics.
Adoption of artificial intelligence and machine learning requiring robust storage solutions.
Growing need for data retention in automotive and industrial applications.

Non-Volatile Memory Market Trends

The Non-Volatile Memory Market is experiencing noteworthy trends, including the proliferation of advanced NAND flash memory technologies that are leading the market toward 3D NAND, which offers higher storage capacities and faster data transfer rates. In addition, continued advancements in integral non-volatile memory use in emerging technology, IoT, AI, and autonomous vehicles lead to future demand for non-volatile memory. Sustainability and energy-efficient memory configurations are becoming an important aspect, continuing alongside preliminaries in the electric vehicle and automation space for memory manufacturers committed to reducing their carbon footprint without compromising performance.

Emerging Developments in the Non-Volatile Memory Market

The Non-Volatile Memory Market is set to evolve as improvements in memory architecture emerge, such as persistent memory, that seamlessly acts as storage and memory and suits high-speed applications. Additionally, innovations focused on enhanced performance as land usage and energy consumption decrease, while damage tolerance of memory continues to be enhanced for data-intensive memory tasks such as cloud storage and big data analytics, are set to become more common. Finally, the development of non-volatile memory solutions in automotive systems, industrial automation, and smart appliances seems poised to increase which utilizes the other capacity of memory configuration.