According to our latest market study on “NOR Flash Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, and Density,” the market is projected to reach US$ 6,069.5 million by 2028 from US$ 2,361.9 million in 2021; it is expected to grow at a CAGR of 14.4% from 2021 to 2028.

Top Companies

Cypress Semiconductor Corporation, GigaDevice Semiconductor, Macronix International, Microchip Technology Inc., and Winbond are the five key companies in the NOR flash market. A holistic approach was adopted to list/position these players by considering the following key parameters: overall revenue and segment revenue; brand image and industry expertise; current portfolio; geographic reach; partner/distributor network; research and development capabilities; technology integration; new product launches, partnerships, mergers and acquisitions, and other strategic activities.

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Rising demand from IT companies for enhancing the security and efficiency of computers is expected to drive the innovative applications of NOR flash memories. The consumer electronics industry, on the other hand, is undergoing some tectonic transformations. Handsets have already become outdated and are likely to lose significant market share in the coming years; on the other hand, wearables are rapidly overtaking the world. As per an announcement of Winbond Electronics in August 2019, its SpiStack dual-die NOR+NAND code storage solution has been integrated into FRWY-LS1012A board of NXP Semiconductor for use with the Layerscape LS1012A communications processor. In June 2018, Cypress Semiconductor announced the launch of the Semper NOR flash memory family, which is geared for automotive and industrial applications, to ensure safety and dependability. Furthermore, high-performance NOR flash technologies enable the simplification of the memory hierarchy, which can be used for incorporating nonvolatility in logic circuits, resulting in a new application for NOR flash memories in hardware security and neuromorphic computing.

Key Findings of Study:

The NOR flash market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East Africa (MEA), and South America (SAM). Based on type, the market is segmented into serial NOR flash and parallel NOR flash. The serial NOR flash segment held a larger market share in 2020. Based on application, the NOR flash market is sub segmented into telecommunication, networking, industrial, automotive, smart grid space, and others. The industrial segment accounted for the largest market share in 2020. Based on density, the NOR flash market is sub segmented into less than 250 MB, 250 MB–1 GB, and more than 1 GB. The less than 250 MB segment held the largest market share in 2020.

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