Global Phase Change Memory Market to Reach $4 Billion by 2026

Phase-change memory, also called PCRAM, PRAM, PCME, PCM, OUM (ovonic unified memory), and CRAM or C-RAM (chalcogenide RAM), is a form of computer non-volatile random-access memory that exploits the peculiar properties of chalcogenide glass of switching between two stable physical phases, amorphous and crystalline, on application of heat. The growing trend towards integrating new memory technologies therefore bodes well for new generation memory technologies and leading the way is PCM. The growing demand for advanced memory technologies capable of meeting HPC memory requirements bodes well for increased opportunities and growth of PCM. PCM has the potential to replace existing DRAM and revolutionize the way servers are built. PCM can reduce the magnitude the power consumed and also the amount of space consumed by servers. Also PCM is highly scalable and reliable than flash memory and is suitable for use in large systems such as storage servers.

Amid the COVID-19 crisis, the global market for Phase Change Memory estimated at US$407 Million in the year 2020, is projected to reach a revised size of US$4 Billion by 2026, growing at a CAGR of 44.5% over the analysis period. PCM as DRAM, one of the segments analyzed in the report, is projected to grow at a 46.1% CAGR to reach US$2.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the PCM as SRAM segment is readjusted to a revised 45.3% CAGR for the next 7-year period. This segment currently accounts for a 26.6% share of the global Phase Change Memory market.

The U.S. Market is Estimated at $166.9 Million in 2021, While China is Forecast to Reach $1.1 Billion by 2026

The Phase Change Memory market in the U.S. is estimated at US$166.9 Million in the year 2021. The country currently accounts for a 33.9% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.1 Billion in the year 2026 trailing a CAGR of 56.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 35.5% and 40.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 37.6% CAGR while Rest of European market (as defined in the study) will reach US$1.6 Billion by the end of the analysis period.

PCM as Flash Memory Segment to Reach $643.1 Million by 2026

Phase-change memory expedites random access time and write/read throughput along with offering other features such as bit granularity, enhanced endurance and direct write. The integration of DRAM and flash memory can offer superior functionality that replaces flash and some functions of DRAM. In the global PCM as Flash Memory segment, USA, Canada, Japan, China and Europe will drive the 41.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$60.8 Million in the year 2020 will reach a projected size of US$676.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$83 Million by the year 2026.