The next generation non-volatile memory market is expected to register robust growth in the near future, thanks to the looming big data revolution on the horizon. Giant technology firms are betting big on big data and Artificial Technology to solve some of the biggest challenges in the world today. These problems include environmental monitoring, smart traffic management, and breakthroughs in medical research as well. The next generation non-volatile memory market will likely aid this development as it offers cost-efficient, faster and more productive memory solutions.
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These are known to be the next-generation memory devices as volatility in electrical devices can cause considerable and irreversible data loss. However, these next-gen devices are expected to regulate much-needed electrical voltage and protect devices from major fluctuations. These devices promise to offer several other advantages such as scalability, large memories, and fast data recovery as well. Due to growing demand for cloud solutions, the next generation non-volatile memory market is expected to witness robust growth in the near future.
Emerging Challenge in the Next Generation Non-Volatile Memory Market
The next generation non-volatile memory market is driving growth on the back of major opportunities. However, the market also faces uncertainties which often go hand-in-hand with innovation. The earlier generation of memory devices like hard disks, USBs are facing lower margins due to stiff competition. Additionally, attempts by major phone markers such as Apple and others to shift users to cloud technology have failed miserably. Users continue to prefer keeping physical storage options to maintain their data and the margins in these physical storages are really low. This poses a major challenge to the growth of the next generation non-volatile memory market.
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Additionally, growth of technologies such as 5G can pose a further challenge to the existing market landscape. Today, many users carry large physical memory devices due to the slow speeds of uploading data to the cloud. 5G technology is expected to unable live hologram, virtual reality, and many other similar technologies due to breakthrough data transfer speeds. This is likely to damp the spirits in the next generation non-volatile memory market.