Phase Change Memory Market Size & Forecast Report - 2025 to 2030

The global phase change memory market size is projected to grow at a significant CAGR of over 51% during the forecast period and expected to reach over USD 5 billion by 2027. The increasing demand for advanced electronic devices such as laptops, smartphones, and tablets with lower power consumption is a major factor to drive the market growth globally. Furthermore, technological advancement and the growing penetration of IoT (Internet of Things) devices are further expected to fuel the market over the forecast period. Moreover, the growing penetration of sophisticated storage technologies and the increasing adoption of electric vehicles are further anticipated to boost the market in both developed and developing economies.

Market Drivers:

Non-volatile memory demand: Non-volatile memory technologies, such as phase change memory, are gaining importance in various applications where data retention even without power supply is crucial. PCM offers non-volatility, meaning it retains data even when the power is turned off, making it suitable for applications that require fast and reliable storage solutions. The increasing demand for non-volatile memory solutions in sectors such as enterprise storage, automotive, consumer electronics, and industrial applications drives the growth of the PCM market.

High-density storage requirements: With the exponential growth of data, there is a need for high-density storage solutions that can store large amounts of data in a compact form factor. PCM provides high-density storage capabilities, enabling more data to be stored in a smaller physical space. As data-intensive applications such as artificial intelligence, machine learning, big data analytics, and cloud computing continue to expand, the demand for high-density storage solutions like PCM increases.

Fast read and write speeds: PCM offers fast read and write speeds, making it suitable for applications that require quick data access and processing. Compared to traditional non-volatile memory technologies, PCM provides faster read and write operations, enabling improved system performance and responsiveness. This characteristic makes PCM desirable for applications such as caching, real-time analytics, and in-memory computing, where high-speed data processing is critical.

Energy efficiency: Energy efficiency is a key consideration in many electronic devices and systems. PCM consumes less power compared to other memory technologies, making it an attractive option for battery-powered devices and energy-conscious applications. The low power consumption of PCM contributes to extended battery life and reduced energy costs, driving its adoption in portable devices, wearables, Internet of Things (IoT) devices, and other energy-efficient systems.

High endurance and reliability: PCM exhibits high endurance and reliability, making it suitable for applications that require frequent read and write operations and long-term data retention. PCM can endure a high number of read and write cycles without degradation in performance, providing durability and reliability for mission-critical applications. This characteristic makes PCM well-suited for use in storage devices, embedded systems, and industrial applications where data reliability is essential.

Compatibility with existing memory architectures: PCM can be integrated into existing memory architectures, offering compatibility with established systems and technologies. This compatibility allows for seamless integration of PCM with other memory types, such as NAND flash or DRAM, and enables the development of hybrid memory solutions. The ability to integrate PCM with existing memory architectures facilitates its adoption and deployment in various applications without significant system-level changes.

Technological advancements and research investments: Continuous advancements in PCM technology, such as improvements in material composition, device structure, scalability, and manufacturing processes, drive the growth of the PCM market. Ongoing research and development efforts, as well as investments by technology companies and semiconductor manufacturers, contribute to the development of advanced PCM solutions with enhanced performance, reliability, and scalability.

Emerging memory-centric applications: The emergence of memory-centric applications, such as in-memory databases, artificial intelligence, edge computing, and autonomous vehicles, creates opportunities for PCM adoption. PCM’s attributes, including non-volatility, high-density storage, fast access speeds, and low power consumption, align with the requirements of these memory-centric applications. The increasing demand for high-performance memory solutions in these domains drives the growth of the PCM market.

Market Snapshot:

Market Insights:

The global phase change memory market is bifurcated into type, technology, application, and geography. On the basis of technology, the market is further segmented into Static RAM, DRAM, Flash Memory, and Storage-class Memory. The PCM as DRAM segment dominated the global market in 2021 and is anticipated to hold a significant revenue share of around 2/3 market share by the end of the analysis period. The widespread use of the product in digital electronics due to its low cost and high-capacity memory is a significant factor to drive the segment growth. On the flip side, the PCM as SRAM segment is expected to grow at a significant growth rate and is estimated to hold a significant revenue share of around 1/4 market share by the end of the analysis period.

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The phase change memory comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The phase change memory market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2019-20 – Historical Year
• 2021 – Base Year
• 2022-2028 – Forecast Period

Market Segmentation:

By Type:

• Standalone
• Embedded

By Technology:

• PCM as Static RAM (SRAM)
• PCM as DRAM
• PCM as Flash Memory
• PCM as Storage-class Memory (SCM)

By Application:

• Enterprise Storage
• Cell Phones
• Automotive
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

Geographically, North America dominated the global phase change memory market in 2021 and accounted to hold a significant revenue share of over 1/3 market share in the estimated year. The widespread use of mobile devices, technological advancement, and the increasing adoption of electric vehicles are some major factors driving the market growth in the region. Furthermore, the early adoption of advanced technology and the presence of major market players are further expected to propel the market growth over the forecast period. On the flip side, the Asia Pacific is estimated to register the fastest growth rate over the forecast period.

Competitive Assessment:

Some of the major market players operating in the global phase change memory market are IBM, BAE Systems, Hewlett Packard Enterprise Development LP, Intel Corporation, and Micron Technology, Inc. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• IBM
• BAE Systems
• Hewlett Packard Enterprise Development LP
• Intel Corporation
• Micron Technology, Inc.
• Om Nanotech Pvt. Ltd.
• Samsung Electronics
• STMicroelectronics
• Synchrotech
• Toshiba International Corporation

Key Questions Answered by Phase Change Memory Market Report

• Global phase change memory market forecasts from 2022-2028
• Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
• Phase change memory submarket forecasts from 2022-2028 covering the market by type, by technology, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level phase change memory markets from 2022-2028
• Competitive Landscape and market positioning of top 10 players operating in the market