EEPROM Market - Forecasts from 2023 to 2028

The global EEPROM market was valued at US$1.614 billion in 2021.

EEPROM stands for Electrically Erasable Programmable Read-Only Memory, a non-volatile memory chip used in electronic devices to store small amounts of data that must be preserved even when power is removed from the system. EEPROM is a type of non-volatile memory that can be reprogrammed electronically and is widely used in embedded systems such as microcontrollers, automotive electronics, and communication devices.

EEPROM Market Drivers:

• Increasing Demand for Artificial Intelligence (AI) Chips

The increasing demand for AI chips used in applications such as machine learning, natural language processing, and computer vision is expected to drive the EEPROM market growth. As AI chips require non-volatile memory to store data and code, the demand for EEPROM is expected to increase. Moreover, the increasing adoption of edge computing, which involves processing data closer to the source rather than sending it to a central server, is expected to drive the EEPROM demand over the projected period.

• Rising Adoption of Blockchain Technology

The increasing adoption of blockchain technology, which is used to create decentralized, secure, and transparent digital ledgers, is expected to drive the growth of the EEPROM market. As blockchain applications require non-volatile memory to store data and transaction records, the demand for EEPROM is expected to increase. The growing adoption of blockchain technology in industries such as finance, healthcare, and supply chain management is expected to boost the adoption of EEPROM throughout the forecast period.

Based on application, the EEPROM market is expected to witness positive growth in the consumer electronics segment.

The growth of the consumer electronics sector, particularly in emerging economies, has driven demand for EEPROMs. Portable devices such as smartphones, tablets, and wearables require low-power, non-volatile memory solutions, increasing the demand for EEPROMs in recent years. The demand for consumer electronics is fueled by increasing disposable income, technological advancements, and the growing trend of internet-connected devices. This has increased demand for smaller, lighter, and more efficient electronic devices, which has further driven the demand for EEPROMs. Additionally, the increasing adoption of IoT technology in consumer electronics is expected to provide further growth opportunities for the EEPROM market. IoT devices require non-volatile memory solutions that are flexible and scalable, making EEPROMs an ideal choice.

North America accounted for a significant share of the global EEPROM market in 2021.

Based on geography, the EEPROM market is segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America is a significant market for EEPROM due to the major semiconductor manufacturers in the region. The United States has one of the largest EEPROM markets globally, driven by the growing demand for consumer electronics such as smartphones, tablets, and wearable devices. Additionally, the increasing demand for autonomous vehicles in the region is expected to drive the growth of the EEPROM market. The automotive industry is a significant contributor to the North American economy, and the adoption of advanced driver-assistance systems (ADAS) and autonomous driving technologies is expected to drive the demand for EEPROM in the region. The growing demand for energy-efficient lighting systems and smart homes is also expected to drive the growth of the EEPROM market in North America. The increasing demand for Internet of Things (IoT) devices, coupled with the growing adoption of cloud computing and big data analytics, is also expected to create opportunities for the growth of the EEPROM market in the region.

Market Developments:

• In August 2020, Microchip Technology Inc. unveiled its newest product, the 25CSM04, one of the largest EEPROMs available to developers then. With a memory capacity of 4 Mbit, the EEPROM provides byte-level control, non-volatility, low-power consumption, and ease-of-use, making it an ideal memory solution for portable consumer and medical devices such as glucose monitors, fitness trackers, and hearing aids. Unlike NOR Flash, the EEPROM has a lower standby current, shorter sector erase/rewrite times, and offers more erase/rewrite cycles, providing performance advantages.
• In July 2022, STMicroelectronics unveiled a Serial Page EEPROM, among the first of its kind in the market. This SPI memory allows for page erasure and offers high density, unmatched flexibility and performance, while keeping power consumption low. The new memory type enables a combination of firmware management and flexible data storage in the same device, which was not possible previously. This integration reduces the bill of materials (BoM) and time-to-market, enabling smaller modules with low power operation, thereby increasing the battery life. These devices are ideal for various applications such as healthcare, wearables, industrial IoT modules, smart meters, and 5G optical-fiber modules.

Key Market Segments

BY TYPE

• 16K - 64K
• 128K - 512K
• >1M

BY APPLICATION

• Consumer Electronics
• Communication and Technology
• Automotive
• Manufacturing
• Others

BY GEOGRAPHY

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Taiwan
• Others