Lucintel's latest market report analyzed that MRAM memory provides attractive opportunities in the consumer electronics, robotics, automotive, enterprise storage, and aerospace and defense industries. The MRAM memory market is expected to reach $0.45 billion by 2028 with a CAGR of 45%. In this market, STT-MRAM is the largest segment by product type, whereas enterprise storage is largest by end use industry.

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Based on product type, the MRAM memory market is segmented into toggle MRAM and STT-MRAM.. The STT-MRAM segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the growing preference for fast, efficient, highly scalable, and non-volatile memory devices in several end-use industries.

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The MRAM Memory Market is marked by the presence of several big and small players. Some of the prominent players offering MRAM memory include Avalanche, CROCUS, Honeywell, Samsung, and Everspin.

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