Storage Class Memory Market Size, Share, Industry Trends and Forecast to 2030

1. What is the Market Size & CAGR of Storage Class Memory market in 2021?

The global Storage Class Memory market is anticipated to have a CAGR of 26.7% from 2021 to 2025. In 2021, the market size was valued at USD 2.5 billion, and it is expected to reach USD 9.8 billion by 2025. The rapid growth in adoption of Storage Class Memory in various industries such as IT, telecommunications, and automotive is driving the market expansion.

2. COVID-19 Impact on the Storage Class Memory Market

The outbreak of COVID-19 has significantly impacted the Storage Class Memory market. Due to the global pandemic, there has been a disruption in the supply chain, leading to delays in production and delivery of Storage Class Memory products. However, with the increasing demand for data storage solutions in the wake of remote working and online learning trends, the market is expected to recover post-pandemic.

3. Storage Class Memory Dynamics

The dynamics of the Storage Class Memory market are influenced by various factors such as technological advancements, increasing demand for high-speed data processing, and growing adoption of artificial intelligence and internet of things (IoT) devices. The market dynamics are also shaped by the evolving needs of data centers and cloud computing services.

4. Segments and Related Analysis

The Storage Class Memory market can be segmented based on technology, product type, application, and end-user industry. Technologies such as Phase-Change Memory (PCM), Resistive Random Access Memory (ReRAM), and Magnetoresistive RAM (MRAM) are key segments in the market. The product types include Enterprise Storage Class Memory and Consumer Storage Class Memory. Applications of Storage Class Memory cover data centers, automotive, aerospace, and defense. The end-user industries include IT & Telecommunications, Healthcare, BFSI, and others.

5. By Region Analysis

The Storage Class Memory market is analyzed on a regional basis, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the market due to technological advancements and early adoption of Storage Class Memory solutions. However, Asia Pacific is expected to witness significant growth during the forecast period, driven by the increasing demand for data storage solutions in emerging economies.

6. Key Market Players and Competitive Landscape

Key players in the Storage Class Memory market include Intel Corporation, Micron Technology Inc., Samsung Electronics Co. Ltd., Western Digital Corporation, and SK Hynix Inc. The competitive landscape is characterized by strategic collaborations, product launches, and investments in research and development to gain a competitive edge in the market.

7. Recent Happenings in the Storage Class Memory Market

- In June 2021, Intel Corporation announced the launch of its Optane Persistent Memory 200 Series, expanding its Storage Class Memory portfolio. - Micron Technology Inc. unveiled its 9300 Series of NVMe SSDs in April 2022, catering to the growing demand for high-speed storage solutions in data centers. - Samsung Electronics Co. Ltd. introduced its Z-SSD Gen 5 in March 2022, targeting the automotive and industrial sectors with enhanced performance capabilities. - Western Digital Corporation partnered with NVIDIA to develop AI-enabled storage solutions for accelerated data processing in February 2022. - SK Hynix Inc. invested in a new Fab construction project in January 2022 to ramp up production capacity for Storage Class Memory chips.