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Non-Volatile Memory Express (NVMe) Global Market Report 2024 by The Business Research Company | Intel Corporation., Toshiba Corporation, Samsung Electronics Co. Ltd., Adesto Technologies Corporation, Viking Technology, Crossbar Inc., Kilopass Technology I
Non-Volatile Memory Express (NVMe) Market Trends And Strategies
The non-volatile memory express (nvme) market size is expected to see exponential growth in the next few years. It will grow to $260.43 billion in 2028 at a compound annual growth rate (CAGR) of 30.7%. The growth in the forecast period can be attributed to expanding it infrastructure, rising digitalization , growing gaming sector, rise in disposable income. Major trends in the forecast period include edge computing integration, emergence of nvme over fabrics (nvme-of), ai and machine learning acceleration, security enhancements, customization and integration.
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Non-Volatile Memory Express (NVMe) Market Major Segments
The non-volatile memory express (nvme) market covered in this report is segmented -
1) By Product: Solid-state Drives (SSDs), Adapters, All-flash Arrays, Servers, Other Products
2) By Communication Standard: Ethernet, Fibre Channel, InfiniBand
3) By Vertical: Banking, Financial Services, and Insurance (BFSI), Consumer Goods & Retail, Telecommunications & Information Technology enabled Services (ITeS), Healthcare, Energy, Government, Education & Research, Media & Entertainment, Manufacturing, Other Verticals
Key Driver - Cloud Hosting Drives Nvme Market Growth
The increased adoption of cloud-hosting services is expected to drive the non-volatile memory express (NVMe) market. Cloud hosting allows applications and websites to access cloud resources. Unlike traditional hosting, solutions are not deployed on a single server. The increased adoption of cloud-hosting services is expected to boost demand for NVMe, as they play crucial role in increasing the performance and intereoperability if various enterprise-level services. According to Gartner Inc., a US-based consulting firm, cloud services are predicted to replace conventional solutions, with more than 45% of IT spending on system infrastructure, infrastructure software, application software, and business process outsourcing by 2024. Therefore, increasing the adoption of cloud-hosting services is expected to boost demand for non-volatile memory express (NVMe) during the forecast period.
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Prominent Trend - Technological Advancements In Nvme Market
Technological developments are a key trend gaining popularity in the non-volatile memory express (NVMe) market. Major companies operating in non-volatile memory express (NVMe) are developing new products or technologies to strengthen their position in the market. For instance, in October 2022, Kingston Digital, a US-based computer technology corporation that develops, manufactures, sells, and supports flash memory products and other computer-related memory products, launched the NV2 PCIe 4.0 NVMe SSD, a next-generation storage solution powered by a Gen 4x4 NVMe controller. The NV2 PCIe 4.0 NVMe SSD is designed for users looking for power-packed Gen 4x4 NVMe PCIe performance in a compact form factor, ideal for thinner notebooks, small form factor (SFF) systems, and DIY motherboards.
Non-Volatile Memory Express (NVMe) Market Players
Major companies operating in the non-volatile memory express (nvme) market include Intel Corporation., Toshiba Corporation, Samsung Electronics Co. Ltd., Adesto Technologies Corporation, Viking Technology, Crossbar Inc., Kilopass Technology Inc., Sidense Corporation, Sandisk Corporation, Micron Technology Inc., Honeywell Corporation., STMicroelectronics NV, Avalanche Technology's, Cypress Semiconductor Corporation, Everspin Technologies Inc., Western Digital Technologies Inc., KIOXIA Holdings Corporation., SK hynix Inc., Microchip Technology Inc., ROHM Co. Ltd., Renesas Electronics Corporation, Infineon Technologies AG., Nantero Inc., Winbond Electronics Corporation., Pure Storage Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the non-volatile memory express (NVMe) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non-volatile memory express (nvme) market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Non-Volatile Memory Express (NVMe) Market Report Structure
3. Non-Volatile Memory Express (NVMe) Market Trends And Strategies
4. Non-Volatile Memory Express (NVMe) Market - Macro Economic Scenario
5. Non-Volatile Memory Express (NVMe) Market Size And Growth
…..
27. Non-Volatile Memory Express (NVMe) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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