The processor caches, main memory and storage system is an integral part of any computer system. As information begins to accumulate, higher density and long term storage solutions are necessary. Due to this, computer architects face some level of challenges in developing reliable, energy-efficient and high performance memories. Also, existing storage devises are degrading in performance, cost, and sizes. Power consumption from the factory has increased, as newer codes are written, and server hardware capabilities are not adequate to handle big data of the future. New emerging memories (NEMs) are presently with its properties likely to open doors to innovative memory designs to solve the problems. This paper looks at the features of the emerging memory technologies, and compares incumbent memories types with the expected future memories.