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NOR Flash Market to Grow by USD 1.67 Billion from 2024-2028, Driven by Rising Demand for High-Performance Electronics and AI Impact on Market Trends- Technavio

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NEW YORK, Sept. 11, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global nor flash market size is estimated to grow by USD 1.67 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.06% during the forecast period. Increasing demand for high-performance electronics is driving market growth, with a trend towards increasing focus of vendors on new product launches. However, environmental regulations and standards for electronic waste disposal poses a challenge. Key market players include Amkor Technology Inc., Broadcom Inc., Elite Semiconductor Microelectronics Technology Inc., Fujitsu Ltd., Giantec Semiconductor Corp., GigaDevice Semiconductor Inc, Infineon Technologies AG, Integrated Silicon Solution Inc., Intel Corp., LAPIS Semiconductor Co. Ltd., Macronix International Co. Ltd., Micron Technology Inc., Nordic Semiconductor ASA, Rochester Electronics LLC, Samsung Electronics Co. Ltd., Seagate Technology LLC, Semiconductor Manufacturing International Corp., Texas Instruments Inc., Toshiba Corp., Winbond Electronics Corp., Wuhan Xinxin Semiconductor Manufacturing Co., Ltd., and XTX Technology Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Nor Flash Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 10.06%

Market growth 2024-2028

USD 1675.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.86

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 60%

Key countries

China, US, and Taiwan

Key companies profiled

Amkor Technology Inc., Broadcom Inc., Elite Semiconductor Microelectronics Technology Inc., Fujitsu Ltd., Giantec Semiconductor Corp., GigaDevice Semiconductor Inc, Infineon Technologies AG, Integrated Silicon Solution Inc., Intel Corp., LAPIS Semiconductor Co. Ltd., Macronix International Co. Ltd., Micron Technology Inc., Nordic Semiconductor ASA, Rochester Electronics LLC, Samsung Electronics Co. Ltd., Seagate Technology LLC, Semiconductor Manufacturing International Corp., Texas Instruments Inc., Toshiba Corp., Winbond Electronics Corp., Wuhan Xinxin Semiconductor Manufacturing Co., Ltd., and XTX Technology Inc.

Market Driver

The NOR flash market is witnessing a significant trend towards new product launches as vendors aim to stay competitive and cater to the evolving requirements of various applications. Notable examples include Winbond’s introduction of the 8Mb 3V NOR W25Q80RV, a high-performance, small-form-factor serial flash device designed for connected edge devices in industrial and consumer applications. This new device, produced using advanced 58nm technology, is smaller and more efficient than its predecessor. Infineon also recently launched the SEMPER X1 LPDDR Flash, the first LPDDR Flash memory for next-generation automotive E/E architectures, offering enhanced safety, architectural flexibility, and performance. Both these innovative NOR flash solutions address the needs of modern electronics, providing high-speed data access, security, and temperature resilience. The focus on advanced NOR flash memory products will continue to fuel the growth of the global NOR flash market during the forecast period. 

The Nor Flash market is experiencing significant growth, particularly in consumer electronics sectors like smartphones and smart TVs. Shipment volume for flash memory in consumer technology is on the rise, driven by increasing demand for 5G smartphones and the expansion of 5G network connectivity. However, economic decline and inflation are causing consumer spending to decrease, leading to inventory issues for manufacturers. Key players in the semiconductor industry, such as Micron Technology, are investing in new fabrication facilities to meet the growing demand for memory chips. The market for flash memory is also expanding into new areas like electric vehicles, data centers, and the Internet of Things. Low-power memory and high-density storage are becoming essential for powering smart home devices, wearables, and medical devices. The memory hierarchy is evolving, with a focus on hardware security, neuromorphic computing, and low-power memory. Write cycle and data retention are critical factors in the development of flash memory technology. The semiconductor industry is also exploring new applications for flash memory, such as embedded code storage and smart driving systems. Overall, the Nor Flash market is poised for continued growth in the coming years.

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Market Challenges

The NOR flash market faces substantial challenges due to environmental and regulatory compliance. Manufacturers must adhere to stringent regulations, such as RoHS and WEEE, which restrict the use of hazardous materials and mandate proper disposal and recycling of electronic waste. Compliance involves significant costs and ongoing vigilance to keep up with evolving regulations. Semiconductor producers may need to invest in cleaner production technologies and stricter waste management practices. These requirements can hamper operational efficiency and market growth for NOR flash memory producers during the forecast period.The Nor Flash market is experiencing significant growth due to increasing demands from various industries. Electric vehicles and consumer technology are major drivers, with the need for larger data storage in EV batteries and advanced features in mobile phones. The rise of 5G mobile subscriptions and Internet of Things (IoT) devices also boosts the demand for Nor Flash memory. In the semiconductor industry, memory chips for high-end electronic devices, energy vehicles, and BEVs require Nor Flash for smart driving systems, embedded code storage, and data retention. Additionally, medical devices, remote monitoring, wearables, and smart technologies rely on Nor Flash for power efficiency and scalability. Cypress Semiconductor, Winbond Electronics, and Dialog Semiconductor are key players in this market, focusing on low-power memory, memory hierarchy, hardware security, and neuromorphic computing. Challenges include improving storage density, scalability, latency, write cycle, and data retention for various applications.

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Segment Overview

This nor flash market report extensively covers market segmentation by

Type 1.1 Serial NOR flash1.2 Parallel NOR flashEnd-user 2.1 Consumer electronics2.2 Communication2.3 Automotive2.4 Industrial2.5 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Serial NOR flash- The Nor Flash Market refers to the business sector dedicated to the production and sale of NOR (Negative OR) flash memory. NOR flash is a type of read-only memory with a simple architecture, making it ideal for various applications such as firmware, boot loaders, and data logging. Companies in this market manufacture and distribute NOR flash memory chips and solutions to various industries, including automotive, consumer electronics, and industrial automation. These businesses collaborate with customers to provide customized solutions and ensure product compatibility and reliability.

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Research Analysis

The Nor Flash Market is experiencing significant growth, driven by the increasing demand for flash memory in various sectors. Shipment volume is on the rise, fueled by automotive applications, consumer electronics, and the proliferation of smart devices such as smartphones, Smart TVs, and smart home systems. The demand for 5G smartphones and 5G network connectivity is also boosting the market, as is the need for data centers and data storage solutions. However, economic decline and inflation can impact consumer spending, leading to inventory issues and potential price pressures. Companies in the market include Micron Technology, which recently announced plans to expand its fabrication facility for memory and embedded code storage. Other applications, such as medical devices and wearables, are also contributing to the market’s growth. Overall, the Nor Flash Market is expected to continue its upward trajectory, driven by the increasing use of flash memory in various industries.

Market Research Overview

The Nor Flash market is experiencing significant growth in shipment volume, driven by the increasing demand for consumer electronics, particularly smartphones and smart TVs. The market is also being fueled by the adoption of smart home technologies and the rollout of 5G network connectivity. Economic decline and inflation have caused some inventory issues, but the demand for high-end electronic devices, including 5G smartphones, continues to rise. The semiconductor industry is at the forefront of this trend, with companies investing in fabrication facilities to produce memory chips for various applications. The market also extends to data centers, electric vehicles, and various consumer technologies such as mobile phone subscriptions, 5G mobile subscriptions, Internet of Things, and medical devices. The focus on power efficiency, low-power memory, and scalability are key considerations in the development of flash memory, which is essential for data storage, embedded code storage, and hardware security. Companies like Micron Technology, Winbond Electronics, and Dialog Semiconductor are leading the way in this dynamic and evolving market. Neuromorphic computing, memory hierarchy, hardware security, and data retention are also important areas of research and development.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeSerial NOR FlashParallel NOR FlashEnd-userConsumer ElectronicsCommunicationAutomotiveIndustrialOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Doo Group Strengthens Global Reach with CySEC License for Doo Financial

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LIMASSOL, Cyprus , Nov. 15, 2024 /PRNewswire/ — Doo Group is proud to announce that Doo Financial, one of its brands, has been awarded a new license by the Cyprus Securities and Exchange Commission (CySEC). This achievement strengthens Doo Group’s commitment to providing a secure and regulated trading environment for its clients globally.

Expanding Regulatory Reach

The addition of the CySEC license highlights Doo Group’s extensive regulatory framework, which already spans across multiple financial jurisdictions, including the United Kingdom, Australia, Hong Kong and Malaysia. This strategic milestone reflects Doo Group’s dedication to ensuring compliance with international regulatory standards and prioritizing client security. As a European Supervisory Authority, CySEC offers a robust regulatory environment and is expected to enhance client confidence. For Doo Group, this new regulatory milestone reinforces its reputation as a trusted, reliable financial services provider.

“Acquiring the new license from CySEC is a significant milestone for Doo Financial, marking a key step in our ongoing growth and strategic expansion. This achievement not only reinforces our commitment to maintaining the highest standards of regulatory excellence but also solidifies our position as a trusted, reliable financial institution within Europe. By aligning with CySEC’s rigorous requirements, we are better positioned to offer enhanced services to our clients, foster greater transparency, and ensure long-term stability in an increasingly complex and dynamic financial landscape.” Costas Kappai, Doo Financial EU

Strengthening Client Confidence

Doo Financial EU, the European branch of Doo Financial, is now positioned to serve clients across Europe under the guidelines of a European Supervisory Authority. European clients will benefit from CySEC’s regulatory protections, including client fund safety and transparent business practices, ensuring a secure and trustworthy trading experience. This development allows Doo Financial EU to offer its suite of financial services and trading products to a wider audience, backed by the credibility and oversight of CySEC.

By expanding its regulatory reach, Doo Group continues to strengthen its position in the global financial market, enabling clients to trade with confidence. The CySEC license is another step toward achieving Doo Group’s vision of becoming a leader in financial services.

About Doo Group

Founded in 2014 and headquartered in Singapore, Doo Group is an international financial services provider with a focus on FinTech. With operations across 10 major business lines—including Brokerage, Wealth Management, Payments, and Digital Marketing—we are dedicated to delivering comprehensive financial solutions that empower our clients to explore a better future.

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Liberty General Insurance Continues to Drive Insurance Awareness and Inclusion with ‘Suraksha ka Vaada Bima ke Saath’ Initiative Across Delhi and Punjab

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NEW DELHI, Nov. 15, 2024 /PRNewswire/ — Liberty General Insurance, one of the leading non-life insurance companies in India and the lead insurer for Delhi under the Insurance Regulatory and Development Authority of India’s (IRDAI) State Insurance Plan, is spearheading an insurance awareness initiative in Delhi. While there are no gram panchayats in Delhi, Liberty continues to drive insurance awareness through grassroots and digital outreach.

In parallel, Liberty is fulfilling its rural and social obligations by focusing on underserved areas in Punjab. This effort includes a recently initiated awareness campaign across 400 gram panchayats in Punjab to expand insurance penetration and increase accessibility in these regions.

In Delhi, Liberty continues to create awareness under ‘Suraksha ka Vaada Bima ke Saath’ initiative launched in 2023. This October Liberty began with a Door-to-Door Campaign across North-West and North East Delhi, reaching over 1600 households in Karala Village, Budh Vihar, Kanjawala Village and Begumpur, Burari, Kanhiya Nagar, Rampura, and Jahangirpuri, achieving over 25000 impressions. Over nearly a month, Liberty’s teams engaged with residents, distributing leaflets and explaining the benefits of motor and health insurance. This campaign was followed by the ‘Nukkad Natak’ (Street Play) initiative in South Delhi, targeting key neighborhoods of Sarojini Nagar, Lajpat Nagar, Nirman Vihar, Lakshmi Nagar, and Begumpur chowk market. The street plays used interactive performances to educate communities on the importance of insurance and dispel common myths. To reinforce the message, Liberty’s team also disseminated copies of the ‘Wise Ways of Insurance’ booklet—a unique resource developed to demystify insurance products and promote informed decision-making. The booklet, which is being translated into vernacular languages, is also being distributed in other states as part of Liberty’s commitment to financial literacy across India.

Complementing its on-ground efforts, Liberty General Insurance continues to leverage social media to drive targeted insurance awareness campaigns. Recognizing that widespread mobile access allows more people to connect online, Liberty reaches both rural and urban audiences, empowering individuals everywhere with the knowledge needed to make informed financial decisions.

Commenting on this awareness drive, Mr. Parag Ved, CEO & Whole-Time Director, Liberty General Insurance said, “Our ‘Suraksha ka Vaada Bima ke Saath’ campaign is an effort in line with IRDAI’s ‘Insurance for All by 2047’ vision, towards empowering communities across Delhi, Punjab, and beyond with the financial security that insurance provides. With general insurance penetration in India still at less than 1% of its GDP, there is a pressing need to educate communities and break down the barriers to understanding the importance of insurance. Liberty will ensure that its wide distribution network makes policies accessible to all, so that every citizen—no matter where they are—can access the financial safety net that insurance offers.”

“Liberty is committed to fostering a culture of financial resilience where every Indian can feel secure about their future. Together, we are building a future where insurance isn’t just a product but a promise of protection and peace of mind,Mr. Ved added.

Looking ahead, Liberty will be rolling out a transit media campaign across South Delhi in December, utilizing branded auto rickshaws to increase visibility and connect with residents in this vibrant area of the capital. By leveraging transit media, Liberty aims to bring insurance awareness into people’s daily routines, making information accessible in familiar, everyday settings. This campaign builds on the success of previous awareness initiatives and reinforces Liberty’s commitment to educating and empowering individuals about insurance.

About Liberty General Insurance

Liberty General Insurance Ltd. (LGI) is a joint venture between Summit Asia Investment Holdings PTE Ltd.— a group company of Liberty Mutual Insurance Group, a diversified global insurer with over 900 offices across the world, headquartered in the U.S., Enam Securities, and Diamond Dealtrade. LGI commenced operations in 2013 with the aim of providing comprehensive retail, commercial and industrial insurance solutions. The company has an employee strength of 1100+ with presence across 100+ locations in 28 states and UTs. Its partner network consists of about 6000+ hospitals and more than 5000 auto service centres. The company offers health and personal accident insurance, car and two-wheeler insurance, employee compensation insurance, commercial insurance, engineering insurance, marine insurance, liability insurance and property insurance among other products in India.

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Hikvision unveils WonderHub and elevates smart collaboration across industries

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HANGZHOU, China, Nov. 15, 2024 /CNW/ — Hikvision unveiled its fully upgraded smart collaboration business. The event showcased a range of innovative products designed to transform collaboration in education, meetings, retail, and more. Among the highlights were cutting-edge solutions like WonderHub interactive displays, digital signage, and video conference devices. These products underscore Hikvision’s commitment to driving digital transformation and enhancing user experiences in an increasingly connected world.

At the heart of this ecosystem is WonderHub, which features WonderOS, an AI-powered platform that seamlessly connects devices and enhances collaboration. With tools like WonderSpark for interactive whiteboards and WonderCast for wireless content sharing, WonderHub enables users to communicate, create, and collaborate more effectively than ever.

Boosting Classroom Engagement with Innovative Solutions

In education, WonderHub is designed to elevate classroom experiences. The interactive displays enable students to share and express ideas effortlessly, creating a more engaging and dynamic learning environment. The built-in WonderSpark smart whiteboard software uses AI to recognize equations, provide solutions, and generate interactive 3D teaching materials across subjects like mathematics, chemistry, and natural sciences. Teachers can also access licensed images and videos through Creative Commons integration, enriching lesson content and boosting student engagement.

Classrooms equipped with WonderHub also benefit from multi-window modes and a suite of 19 educational tools. These include subject-specific templates and interactive applications. For remote learning, WonderHub integrates seamlessly with third-party conferencing platforms, allowing students to collaborate in real-time, no matter their location.

Empowering Business Meetings with Intelligent Features

Hikvision’s smart collaboration solutions transform business meetings into more efficient and immersive experiences. The WonderHub Ultra Series allows users to easily connect personal devices and leverage the interactive display’s camera, speakers, and microphone for high-quality remote conferencing. The HiSpire meeting management system streamlines meeting logistics, including room scheduling, attendee notifications, post-meeting summaries, and distribution of materials.

Advanced AI features, such as auto-framing and speaker tracking, ensure optimal video quality. Meanwhile, app-free screen casting allows for easy sharing of presentation materials. The X12 and X28 audio-video cameras offer enterprises tailored setups to suit meeting rooms of any size, ensuring seamless communication with high-definition video and precise audio capture.

Transforming Retail Spaces with Dynamic Digital Signage

Hikvision has also advanced its digital signage solutions to enhance customer engagement in retail scenarios. The vibrant displays and centralized content management allow retailers to effectively capture attention. High-brightness window displays attract passersby with promotions and new product highlights. Meanwhile, floor-standing signage supports interactive features, such as self-service ordering. The HikCentral FocSign platform enables retailers to remotely manage and distribute content across multiple locations, improving operational efficiency and ensuring consistent branding.

These digital signage solutions, including the DP and DL series, boast superior brightness and clarity, ensuring visibility even in strong lighting conditions. The displays run on Hikvision’s self-developed platform and support WonderCast wireless casting, enabling quick and easy content sharing from various devices.

Since entering the smart collaboration market in 2017, Hikvision has rapidly become a leading global player. With over 300,000 units sold across more than 140 countries and regions, Hikvision’s smart collaboration business exemplifies the company’s commitment to innovation, quality, and user-centric design. As a key highlight of this evolution, the fully upgraded WonderHub represents the next leap forward in smart collaboration technology.

By bridging advanced technology with practical applications, WonderHub, along with Hikvision’s broader range of smart collaboration solutions, is leading the way in providing more efficient and intelligent solutions for users worldwide.

For more information about Hikvision’s smart collaboration products and solutions, please visit Hikvision’s official website.

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