The memristors market was valued at US$1,126.123 million in 2019 and is expected to grow steadily during the forecast period. Memristors limit or regulate the flow of electrical current in a circuit and keep track of the amount of charge that has passed through them previously. Because their memory is non-volatile, memristors can retain information without power. The use of memristors is widespread in portable electronics, industrial robotics, supercomputers, servers, and data centres.
Memristor’s market share is dominated by the electronics and IT & telecommunication industries. In comparison with other memory elements, memristors have the key advantage of assisting electronic device manufacturers with developing devices with neural architecture. Memory memristors are being considered as a possible replacement for CMOS in storage class memories as they possess outstanding performance characteristics, such as fast writes, low energy consumption, ease of scaling, ease of integration with three dimensions, and compatibility with traditional CMOS fabrication methods.
Market growth has primarily been driven by the advantages of memristors over other memory technologies, an increase in industrial robots that require memory, the rise of smartwatches, smartphones, and other smart wearables, as well as the rise in data centres around the world. While the Internet of Things (IoT) trend grows, there are new opportunities in the market for memristor players.
The growth of electronics industry expected to boost the demand
With the rise in memory density and power demands in the consumer electronics sector, there is a continuous increase in performance demands for Memristors. As the consumer electronics sector adopts memristors, the demand will be driven mainly by wearable devices and connected devices, which are expected to witness tremendous growth during the forecast period. According to new data from the International Data Corporation (IDC), global shipments of wearable technology reached 153.5 million in the fourth quarter of 2020, representing an increase of 27.2% over the same period in the previous year. IoT and AI are driving memristor’s use to an even greater extent.
An AI consortium was announced by Crossbar Inc. and Robosensing Inc. in February 2019, which could deliver a greatly accelerated, power-saving AI standard and platform that will enable new AI functions at the edge, in gateways, and across clouds and data centres. United States has the world’s largest private AI investment market, which includes start-ups and large companies. In March 2019, the government of the United States launched AI.gov to allow anyone to find out more about the government’s ongoing AI initiatives. As of September 2018, the US government has announced it will invest up to $2 billion in the future of artificial intelligence. These trends indicate that memristor adoption is likely to increase during the forecast period.
High cost and alternatives
As a result of the high initial cost and the fact that they are still being developed, there are many threats such as error rate, reliability, programming ease, etc., which can cause the memristor market to decline. Further, companies like Rambus, Panasonic & Crossbar are also developing Resistive RAM Technologies, which can be used instead of memristors.
Despite the COVID-19 pandemic’s disruption of manufacturing supplies and temporary shutdowns, the effects on artificial intelligence are still looming. Wearable devices are becoming more popular as people become more health-conscious; the ever-growing AI and IoT sectors during COVID -19 have resulted in a booming market for memristors.