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The next-generation memory market is experiencing significant growth due to the increasing demand for non-volatile memory products, driven by the need for advanced memory technologies to store and analyze big data produced by IoT devices. Next-gen memory solutions offer benefits such as compact size, large data storage capacity, and low power consumption, making them ideal for IoT-related applications. However, the development of next-generation memory technologies presents challenges such as high costs and the need to overcome physical limitations.