[Latest] Global NOR Flash Market Size/Share Worth USD 10.73 Billion by 2034 at a 8.2% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth Rate, Value, SWOT Analysis)

Austin, TX, USA, July 30, 2025 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “NOR Flash Market Size, Trends and Insights By Type (Serial NOR Flash, Parallel NOR Flash), By End-User (Consumer Electronics, Communication, Automotive, Industrial, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025-2034“ in its research database.

“According to the latest research study, the demand of the global NOR Flash Market size & share was valued at approximately USD 4.92 Billion in 2024 and is expected to reach USD 5.27 Billion in 2025 and is expected to reach a value of around USD 10.73 Billion by 2034, at a compound annual growth rate (CAGR) of about 8.2% during the forecast period 2025 to 2034.”

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Overview

As per industry experts at CMI, leaders in the NOR Flash market—such as Cypress Semiconductor (Infineon), Winbond, Macronix, and GigaDevice—are advancing innovation through high-density, low-power memory solutions optimized for automotive, industrial, and consumer electronics. These companies are investing in process node shrinkage (e.g., 28nm, 40nm), extended temperature tolerance, and enhanced read speeds to meet the requirements of IoT devices, infotainment, and automotive ADAS.

Strategic collaboration with system integrators and embedded solution providers supports integration with microcontrollers and SoCs. Furthermore, compliance with automotive-grade reliability standards (AEC-Q100) and support for long product lifecycles position them competitively in safety-critical and smart embedded applications.

Key Trends & Drivers

• Increasing Use of Electronics in Automotives: The adoption of Advanced Driver Assistance Systems (ADAS), infotainment, and autonomous driving modules has made automotive electronics a necessity. The need for reliable low-latency memory has surged. Firmware and boot code are best stored using NOR Flash due to its random-read speed and XIP (Execute-in-Place) functionality. NOR Flash is preferred by automakers for airbag control units and powertrain systems which are safety-critical modules. The rise of electric vehicles (EV) and connected cars has compounded the demand. NOW OEMs need advanced NOR solutions with wide temperature ranges, high endurance levels, and AEC-Q100 compliance. This webinar explains the increasing importance of NOR flash in modern automotive systems and the expansion of the industry.

• Advances in IoT and Consumer Electronics: Smart thermostats, health wearables, and similar devices require accessible, easy to use, low power memory for health monitoring. Powering down a device brings specific challenges, but NOR Flash technology helps alleviate issues with performance lag during reset because it provides rapid access reads and consumes low power. The deployment of more smart appliances and edge computing devices has led to a growing demand for responsive embedded flash memory. IoT is a major driver of this need, which greatly increases the scope for NOR Flash usage, particularly in high-demand but cost-sensitive applications where NAND Flash is not suitable.

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• Applications in Industrial and Medical Devices: The memory solutions for medical diagnostics and industrial automation devices have to be virtually impact resistant with long retention capability. NOR Flash is well known for its dependability and reliability for data storage, which makes it ideal for error correction during data retrieval; hence, it is often integrated as firmware in programmable logic controllers, healthcare monitors, and diagnostic instruments. With the growth of remote patient monitoring, factory automation, and connected medical devices, there is now a much greater availability of NOR Flash solutions. The industrial-grade NOR Flash segment with longer lifespans and wider operating temperatures is poised to broaden the flash memory market.

• Embedded System Development and Firmware Requirements: Smart systems such as robotics, aerospace, and agriculture drive the need for stable and secure firmware, increasing the use of embedded systems. Embedded systems that require robust software reliability often use NOR flash for OTA updates. Furthermore, NOR flash is commonly used in secure boot processes for storing trusted code bases and cryptographic components. To improve performance and reliability, many manufacturers now integrate NOR Flash with MCUs in SoC architectures. The ongoing evolution of design environments for embedded systems, along with tools tailored to flash memory structures, is further accelerating NOR Flash adoption.

Report Scope