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Valued to be $3.9 Billion by 2026, Phase Change Memory Slated for Robust Growth WorldwideSAN FRANCISCO, June 3, 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.
FACTS AT A GLANCE
Edition: 11; Released: April 2022 Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry ABSTRACT- Amid the COVID-19 crisis, the global market for Phase Change Memory estimated at US$678.5 Million in the year 2022, is projected to reach a revised size of US$3.9 Billion by 2026, growing at a CAGR of 46.7% over the analysis period. PCM as DRAM, one of the segments analyzed in the report, is projected to grow at a 48.8% CAGR, while growth in the PCM as SRAM segment is readjusted to a revised 46.7% CAGR. The global market is predicted to grow at an incredible rate in the coming years on account of increasing uptake of sophisticated storage technologies and rising demand for mobile devices. Representing an emerging technology, phase-change memory is anticipated to enable high-density, high-speed, high-volume and affordable non-volatile storage on mass scale. Also referred to as chalcogenide random access memory (CRAM), the technology offers a non-volatile random access memory that leverages unique characteristics of chalcogenide glass. When heated, chalcogenide glasses change their state from amorphous to crystalline that allows the memory to store and save data. Phase-change memory is a suitable option for non-volatile dual-in-line memory modules and solid-state drives holding nonvolatile memory. The technology exhibits higher durability in comparison to flash, reduces power usage by servers and leads to space savings. Based on its highly reliable and scalable nature, phase-change memory offers an effective solution for large systems like storage servers. Phase-change memory is a new and budding market that is anticipated to exhibit a phenomenal growth over the coming years. The market expansion is favored by rising consumer demand for advanced mobile devices like laptops, smartphones and tablets with low power consumption. The market growth is facilitated by increasing proliferation of the IoT coupled with ongoing technological advancements. The adoption of sophisticated and novel storage technologies is anticipated to present considerable growth opportunities to the market. Another prominent factor that is positively influencing the phase-change memory market is continuous expansion of the automotive sector. The market growth is favored by increasing uptake of electric vehicles, mainly electric cars. The trend is poised to drive uptake of advanced microcontrollers and bolster the demand for phase-change memory. Future expansion of the global phase-change memory market is likely to be further aided by aggressive efforts by leading players to push share and footprint within the embedded storage domain. On the other side, the global phase-change memory market received a major setback from the COVID-19 pandemic. The crisis coerced several organizations and universities to suspend R&D projects, eventually hitting the demand for memory modules. However, the phase-change memory market is anticipated to regain momentum with gradual resumption of industrial and research activities following easing of government restrictions and recovery in the global economy. The installation of energy-efficient and fast phase-change memory on flexible, mobile devices is anticipated to enable numerous applications, like sophisticated real-time sensors for biomedical and smart home monitoring. Typical sensors hold constraints for battery lifetime while collection and transmission of raw data to the cloud is an inefficient process. Innovative phase-change memory systems with potential to locally process data are expected to allow various IoT applications. Phase-change memory holds significant potential to enable ultrafast computing. Standard computers feature individual chips for memory and computing. Since data computing and storage are performed at different places, the data is required to move back and forth, leading to poor energy efficiency. Advanced phase-change memory can aid in-memory computing to eliminate the gap between memory and computing. The concept of in-memory computing requires a phase-change device featuring different resistance states with memory storage ability. Recent developments have enabled researchers to extend the number of resistant states for phase-change memory from two to four, which is anticipated to bode well for flexible in-memory computing. In addition, novel phase-change memories are expected to be employed in large datacenters to reduce energy consumption. The combination of speed and energy efficiency is likely to pave way for exciting applications related to electronics with extended battery life. North America (including USA and Canada) is poised to be a highly lucrative market for phase-change memory due to rising demand for mobile devices and technological advances. The regional market is gaining from evolving consumer preferences and the resulting demand for low latency mobile devices with low power consumption, including smartphones, tablets and laptops. Increasing penetration of the Internet of Things (IoT) and ensuing technological advancements are anticipated to open new growth avenues for the market. The region boasts the presence of leading IoT vendors including IBM, Cisco Systems and Intel that are playing a constructive role in the market. Cisco has recently expanded its portfolio of IoT solutions to assist partner service providers in optimizing cellular IoT settings and open new use cases for 5G. The ability of emerging technologies such as 5G and Wi-Fi 6 to support diverse devices and enable new IIoT use cases is expected to help service providers in competing with cellular IoT offerings. These developments are anticipated to further bolster the market growth over the coming years. 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SOURCE Global Industry Analysts, Inc. 
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