1 Introduction Spintronics is gaining popularity because of the interesting physical phenomena that can be observed in these systems as well as due to the potential applications that can be derived from it. While the magnetic read sensors of the hard disk drive are already beneficiaries of the early development in spintronics, the magnetic random access memory (MRAM), magnetic logics, spin-transistors, and quantum computing are some of the exciting possibilities that may arise from the outcome of further spintronics research. Out of the several emerging applications, MRAM is given a stronger industrial emphasis due to the several advantages it offers over other competing memory/storage class memory. Moreover, the recent developments in the spin-transfer torque (STT) induced switching of magnetization have provided more excitement and realistic possibilities of MRAM being a strong candidate for future memory applications. This article provides an overview of MRAM with a particular emphasis on materials with perpendicular magnetic anisotropy (PMA) for this application.The discussion begins with a brief review of history and the earlier generations of MRAM which were based on