MRAM, or Magnetoresistive Random Access Memory, is a type of non-volatile memory that retains data even when the power is turned off. It uses magnetic states to store information, which allows for faster read and write speeds compared to traditional memory types like DRAM and Flash. One of the key advantages of MRAM is its durability and low power consumption, making it suitable for a variety of applications, including mobile devices, automotive systems, and data centers. As technology advances, MRAM is being explored as a potential replacement for existing memory technologies due to its efficiency and performance benefits.