Summary

The global MRAM market size was US$ 250 million in 2024 and is forecast to a readjusted size of US$ 1135 million by 2031 with a CAGR of 23.3% during the forecast period 2025-2031.
By 2025, the evolving U.S. tariff policy is poised to inject considerable uncertainty into the global economic landscape. This report delves into the latest U.S. tariff measures and the corresponding policy responses across the globe, evaluating their impacts on MRAM market competitiveness, regional economic performance, and supply chain configurations.

Magnetoresistive Random Access Memory (MRAM) is a non-volatile storage technology based on the magnetoresistive effect, with its core unit being a magnetic tunnel junction (MTJ), composed of two ferromagnetic layers sandwiching an insulating tunnel barrier layer. By controlling the magnetization direction of the free layer and the fixed layer to be parallel or antiparallel, the MTJ exhibits a low-resistance state (logic 0) or a high-resistance state (logic 1), thereby enabling data storage. The technological evolution of MRAM has undergone three generations:
First generation: Magnetically driven MRAM, which requires an external magnetic field for writing and has relatively low efficiency.
Second generation: Spin-transfer torque MRAM (STT-MRAM), which flips the magnetic moment using a current perpendicular to the MTJ, has been commercially mass-produced, with speeds approaching SRAM and durability exceeding 1E15 cycles.

Third generation: Spin-orbit torque MRAM (SOT-MRAM) and voltage-controlled magnetic anisotropy MRAM (VCMA-MRAM). Among these, SOT-MRAM uses in-plane current to generate spin-orbit torque to flip the magnetic moment, achieving write speeds of up to 0.4 nanoseconds, with power consumption only 1% of STT-MRAM, and supports in-memory computing, making it the next-generation mainstream technology.
Comparison with traditional storage:
DRAM: Volatile, requires continuous power supply; MRAM can replace it as non-volatile cache.
NAND flash: Slow write speed (microseconds), low durability; MRAM has advantages in real-time data storage scenarios.
SRAM: Fast but low density and high power consumption; MRAM balances performance and cost in embedded applications.

Technological breakthroughs:
SOT-MRAM commercialization: TSMC and ITRI have developed SOT-MRAM with a write speed of 0.4 nanoseconds and a 99% reduction in power consumption, which has entered the automotive-grade verification phase. SOT-MRAM developed by Tohoku University in Japan has a write power consumption as low as 156 fJ, the lowest in the world.
In-memory computing integration: TSMC combines SOT-MRAM with computing architecture to enable direct in-memory computing, improving energy efficiency by over 10 times, suitable for AI edge computing.
Material innovation: Graphene magnetic composite materials increase read/write speeds by 50% and reduce power consumption by 30%; three-dimensional stacked structures reduce device sizes to the nanometer level, significantly increasing density.

Market drivers:
Emerging application demands:
AI and edge computing: MRAM's low power consumption and high-speed characteristics are well-suited for AI inference chips. For example, Alibaba's PingTouGe AI chip with integrated MRAM reduces power consumption by 62%.
IoT Devices: Global IoT devices are projected to exceed 500 billion units by 2030, with MRAM's non-volatility and durability meeting sensor node requirements.
Policy Support: China's 14th Five-Year Plan prioritizes MRAM as the leading new storage technology, with the second phase of the National Integrated Circuit Industry Investment Fund allocating 3.5 billion yuan to support supply chain development, and three national-level R&D centers established in Beijing, Shanghai, and other regions.
Challenges and competition:
Cost and process: The unit cost of MRAM is 35 times that of DRAM. Cost reduction requires large-scale production (e.g., Hefei Changxin's 28nm production line) and domestic material production (cobalt-iron-boron target materials currently have a 75% import dependency).
Technological Competition: ReRAM is making rapid progress in the field of compute-in-memory (e.g., XinYuan Semiconductor's automotive-grade products), and FeRAM is increasing its penetration in automotive electronics. However, MRAM still holds advantages in terms of speed and durability.
Standards and Ecosystem: JEDEC has released the SOT-MRAM interface standard JESD232, with a complete system expected to be established by 2025, promoting cross-vendor compatibility.
The global MRAM market is strategically segmented by company, region (country), by Type, and by Application. This report empowers stakeholders to capitalize on emerging opportunities, optimize product strategies, and outperform competitors through data-driven insights on sales, revenue, and forecasts across regions, by Type, and by Application for 2020-2031.

Market Segmentation
By Company:
Everspin Technologies
Avalanche Technology
Honeywell
Renesas
Crocus Nano Electronics
Samsung Electronics
Cobham
NVE Corporation
By Type: (Dominant Segment vs High-Margin Innovation)
Toggle MRAM
STT-MRAM
By Application: (Core Demand Driver vs Emerging Opportunity)
Aerospace
Automotive
Factory Automation
Enterprise Storage
Internet of Things
Others
By Region
Macro-Regional Analysis: Market Size & Growth Forecasts
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Micro-Local Market Deep Dive: Strategic Insights
- Competitive Landscape: Player dominance vs. disruptors (e.g., Everspin Technologies in Europe)
- Emerging Product Trends: Toggle MRAM adoption vs. STT-MRAM premiumization
- Demand-Side Dynamics: Aerospace growth in China vs. Automotive potential in North America
- Localized Consumer Needs: Regulatory hurdles in EU vs. price sensitivity in India
Focus Markets:
North America
Europe
China
Japan
(Additional regions can be customized based on client needs.)

Chapter Outline
Chapter 1: Report scope, executive summary, and market evolution scenarios (short/mid/long term).
Chapter 2: Quantitative analysis of MRAM market size and growth potential at global, regional, and country levels.
Chapter 3: Competitive benchmarking of manufacturers (revenue, market share, M&A, R&D focus).
Chapter 4: Type-based segmentation analysis – Uncovering blue ocean markets (e.g., STT-MRAM in China).
Chapter 5: Application-based segmentation analysis – High-growth downstream opportunities (e.g., Automotive in India).
Chapter 6: Regional sales and revenue breakdown by company, type, application and customer.
Chapter 7: Key manufacturer profiles – Financials, product portfolios, and strategic developments.
Chapter 8: Market dynamics – Drivers, restraints, regulatory impacts, and risk mitigation strategies.
Chapter 9: Actionable conclusions and strategic recommendations.
Why This Report?
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the MRAM value chain, addressing:
- Market entry risks/opportunities by region
- Product mix optimization based on local practices
- Competitor tactics in fragmented vs. consolidated markets

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Table of Contents

1 Market Overview
1.1 MRAM Product Scope
1.2 MRAM by Type
1.2.1 Global MRAM Sales by Type (2020 & 2024 & 2031)
1.2.2 Toggle MRAM
1.2.3 STT-MRAM
1.3 MRAM by Application
1.3.1 Global MRAM Sales Comparison by Application (2020 & 2024 & 2031)
1.3.2 Aerospace
1.3.3 Automotive
1.3.4 Factory Automation
1.3.5 Enterprise Storage
1.3.6 Internet of Things
1.3.7 Others
1.4 Global MRAM Market Estimates and Forecasts (2020-2031)
1.4.1 Global MRAM Market Size in Value Growth Rate (2020-2031)
1.4.2 Global MRAM Market Size in Volume Growth Rate (2020-2031)
1.4.3 Global MRAM Price Trends (2020-2031)
1.5 Assumptions and Limitations
2 Market Size and Prospective by Region
2.1 Global MRAM Market Size by Region: 2020 VS 2024 VS 2031
2.2 Global MRAM Retrospective Market Scenario by Region (2020-2025)
2.2.1 Global MRAM Sales Market Share by Region (2020-2025)
2.2.2 Global MRAM Revenue Market Share by Region (2020-2025)
2.3 Global MRAM Market Estimates and Forecasts by Region (2026-2031)
2.3.1 Global MRAM Sales Estimates and Forecasts by Region (2026-2031)
2.3.2 Global MRAM Revenue Forecast by Region (2026-2031)
2.4 Major Region and Emerging Market Analysis
2.4.1 North America MRAM Market Size and Prospective (2020-2031)
2.4.2 Europe MRAM Market Size and Prospective (2020-2031)
2.4.3 China MRAM Market Size and Prospective (2020-2031)
2.4.4 Japan MRAM Market Size and Prospective (2020-2031)
3 Global Market Size by Type
3.1 Global MRAM Historic Market Review by Type (2020-2025)
3.1.1 Global MRAM Sales by Type (2020-2025)
3.1.2 Global MRAM Revenue by Type (2020-2025)
3.1.3 Global MRAM Price by Type (2020-2025)
3.2 Global MRAM Market Estimates and Forecasts by Type (2026-2031)
3.2.1 Global MRAM Sales Forecast by Type (2026-2031)
3.2.2 Global MRAM Revenue Forecast by Type (2026-2031)
3.2.3 Global MRAM Price Forecast by Type (2026-2031)
3.3 Different Types MRAM Representative Players
4 Global Market Size by Application
4.1 Global MRAM Historic Market Review by Application (2020-2025)
4.1.1 Global MRAM Sales by Application (2020-2025)
4.1.2 Global MRAM Revenue by Application (2020-2025)
4.1.3 Global MRAM Price by Application (2020-2025)
4.2 Global MRAM Market Estimates and Forecasts by Application (2026-2031)
4.2.1 Global MRAM Sales Forecast by Application (2026-2031)
4.2.2 Global MRAM Revenue Forecast by Application (2026-2031)
4.2.3 Global MRAM Price Forecast by Application (2026-2031)
4.3 New Sources of Growth in MRAM Application
5 Competition Landscape by Players
5.1 Global MRAM Sales by Players (2020-2025)
5.2 Global Top MRAM Players by Revenue (2020-2025)
5.3 Global MRAM Market Share by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in MRAM as of 2024)
5.4 Global MRAM Average Price by Company (2020-2025)
5.5 Global Key Manufacturers of MRAM, Manufacturing Sites & Headquarters
5.6 Global Key Manufacturers of MRAM, Product Type & Application
5.7 Global Key Manufacturers of MRAM, Date of Enter into This Industry
5.8 Manufacturers Mergers & Acquisitions, Expansion Plans
6 Region Analysis
6.1 North America Market: Players, Segments, Downstream and Major Customers
6.1.1 North America MRAM Sales by Company
6.1.1.1 North America MRAM Sales by Company (2020-2025)
6.1.1.2 North America MRAM Revenue by Company (2020-2025)
6.1.2 North America MRAM Sales Breakdown by Type (2020-2025)
6.1.3 North America MRAM Sales Breakdown by Application (2020-2025)
6.1.4 North America MRAM Major Customer
6.1.5 North America Market Trend and Opportunities
6.2 Europe Market: Players, Segments, Downstream and Major Customers
6.2.1 Europe MRAM Sales by Company
6.2.1.1 Europe MRAM Sales by Company (2020-2025)
6.2.1.2 Europe MRAM Revenue by Company (2020-2025)
6.2.2 Europe MRAM Sales Breakdown by Type (2020-2025)
6.2.3 Europe MRAM Sales Breakdown by Application (2020-2025)
6.2.4 Europe MRAM Major Customer
6.2.5 Europe Market Trend and Opportunities
6.3 China Market: Players, Segments, Downstream and Major Customers
6.3.1 China MRAM Sales by Company
6.3.1.1 China MRAM Sales by Company (2020-2025)
6.3.1.2 China MRAM Revenue by Company (2020-2025)
6.3.2 China MRAM Sales Breakdown by Type (2020-2025)
6.3.3 China MRAM Sales Breakdown by Application (2020-2025)
6.3.4 China MRAM Major Customer
6.3.5 China Market Trend and Opportunities
6.4 Japan Market: Players, Segments, Downstream and Major Customers
6.4.1 Japan MRAM Sales by Company
6.4.1.1 Japan MRAM Sales by Company (2020-2025)
6.4.1.2 Japan MRAM Revenue by Company (2020-2025)
6.4.2 Japan MRAM Sales Breakdown by Type (2020-2025)
6.4.3 Japan MRAM Sales Breakdown by Application (2020-2025)
6.4.4 Japan MRAM Major Customer
6.4.5 Japan Market Trend and Opportunities
7 Company Profiles and Key Figures
7.1 Everspin Technologies
7.1.1 Everspin Technologies Company Information
7.1.2 Everspin Technologies Business Overview
7.1.3 Everspin Technologies MRAM Sales, Revenue and Gross Margin (2020-2025)
7.1.4 Everspin Technologies MRAM Products Offered
7.1.5 Everspin Technologies Recent Development
7.2 Avalanche Technology
7.2.1 Avalanche Technology Company Information
7.2.2 Avalanche Technology Business Overview
7.2.3 Avalanche Technology MRAM Sales, Revenue and Gross Margin (2020-2025)
7.2.4 Avalanche Technology MRAM Products Offered
7.2.5 Avalanche Technology Recent Development
7.3 Honeywell
7.3.1 Honeywell Company Information
7.3.2 Honeywell Business Overview
7.3.3 Honeywell MRAM Sales, Revenue and Gross Margin (2020-2025)
7.3.4 Honeywell MRAM Products Offered
7.3.5 Honeywell Recent Development
7.4 Renesas
7.4.1 Renesas Company Information
7.4.2 Renesas Business Overview
7.4.3 Renesas MRAM Sales, Revenue and Gross Margin (2020-2025)
7.4.4 Renesas MRAM Products Offered
7.4.5 Renesas Recent Development
7.5 Crocus Nano Electronics
7.5.1 Crocus Nano Electronics Company Information
7.5.2 Crocus Nano Electronics Business Overview
7.5.3 Crocus Nano Electronics MRAM Sales, Revenue and Gross Margin (2020-2025)
7.5.4 Crocus Nano Electronics MRAM Products Offered
7.5.5 Crocus Nano Electronics Recent Development
7.6 Samsung Electronics
7.6.1 Samsung Electronics Company Information
7.6.2 Samsung Electronics Business Overview
7.6.3 Samsung Electronics MRAM Sales, Revenue and Gross Margin (2020-2025)
7.6.4 Samsung Electronics MRAM Products Offered
7.6.5 Samsung Electronics Recent Development
7.7 Cobham
7.7.1 Cobham Company Information
7.7.2 Cobham Business Overview
7.7.3 Cobham MRAM Sales, Revenue and Gross Margin (2020-2025)
7.7.4 Cobham MRAM Products Offered
7.7.5 Cobham Recent Development
7.8 NVE Corporation
7.8.1 NVE Corporation Company Information
7.8.2 NVE Corporation Business Overview
7.8.3 NVE Corporation MRAM Sales, Revenue and Gross Margin (2020-2025)
7.8.4 NVE Corporation MRAM Products Offered
7.8.5 NVE Corporation Recent Development
8 MRAM Manufacturing Cost Analysis
8.1 MRAM Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Key Suppliers of Raw Materials
8.2 Proportion of Manufacturing Cost Structure
8.3 Manufacturing Process Analysis of MRAM
8.4 MRAM Industrial Chain Analysis
9 Marketing Channel, Distributors and Customers
9.1 Marketing Channel
9.2 MRAM Distributors List
9.3 MRAM Customers
10 MRAM Market Dynamics
10.1 MRAM Industry Trends
10.2 MRAM Market Drivers
10.3 MRAM Market Challenges
10.4 MRAM Market Restraints
11 Research Findings and Conclusion
12 Appendix
12.1 Research Methodology
12.1.1 Methodology/Research Approach
12.1.1.1 Research Programs/Design
12.1.1.2 Market Size Estimation
12.1.1.3 Market Breakdown and Data Triangulation
12.1.2 Data Source
12.1.2.1 Secondary Sources
12.1.2.2 Primary Sources
12.2 Author Details
12.3 Disclaimer