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

SAN FRANCISCO, March 16, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Phase Change Memory - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 10; Released: February 2022
Executive Engagements: 6233
Companies: 10 - Players covered include BAE Systems PLC; Hewlett Packard Enterprise Development LP (HPE); IBM Corporation; Micron Technology, Inc.; Samsung Electronics Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Technology (PCM as DRAM, PCM as SRAM, PCM as Flash Memory, PCM as SCM); Application (Enterprise Storage, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

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$746.9 Million in the year 2022, 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 $232.4 Million in 2022, While China is Forecast to Reach $1.1 Billion by 2026
The Phase Change Memory market in the U.S. is estimated at US$232.4 Million in the year 2022. 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. The largest regional market for HPC systems presently, is North America. For any major technology based solution, North America is usually the leading market. The region is known to be the first market to develop and implement new IT technologies. North America is also home to quite a few large enterprises which are the major users of HPC systems. General Motors and Boeing are examples. There are also numerous SMEs in the region which are aggressively investing in HPC for handling various technical restraints, which is also a growth promoting factor for the HPC systems here. However, fastest growth in the coming years would be reported by the market in Asia-Pacific. In Asia-Pacific markets, HPC adoption for weather forecasting and scientific research is growing at a rapid pace. China is presently among the leading ten countries in the world ranked on the basis of high HPC adoption. The growing demand for advanced memory technologies capable of meeting HPC memory requirements bodes well for increased opportunities and growth of PCM.

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 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. More

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SOURCE Global Industry Analysts, Inc.