Global Non-Volatile Memory Express (NVMe) Market Projected to Grow at 29% CAGR, Reaching $317.12 Billion by 2029

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What Will the Non-Volatile Memory Express (NVMe) Industry Market Size Be by 2025?
The market size of non-volatile memory express (nvme) has witnessed an express growth over the recent years. The market, which is projected to be at $87.99 billion in 2024, is expected to see a surge and reach $114.52 billion in 2025. This represents a compound annual growth rate (CAGR) of 30.2%. The historical growth trends of this market are mainly credited to the adoption of data centers, increase in data volumes, attention towards energy efficiency, growth in healare and life sciences domains, along with expansion in emerging markets.

What's the Long-Term Growth Forecast for the Non-Volatile Memory Express (NVMe) Market Size Through 2029?
The market for non-volatile memory express (nvme) is on track for dramatic expansion in the coming years, with predictions showing a rise to $317.12 billion by 2029 and an annual growth rate of 29.0%. Reasons for this amplified growth in the forecast period include an increase in IT infrastructure, digitalization expansion, a burgeoning gaming industry, and a rise in expendable income. Significant trends anticipated within the forecast period encompass integration of edge computing, the development of nvme over fabrics (nvme-of), acceleration of AI and machine learning, enhanced security, as well as tailoring and integration.

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What Are the Key Growth Drivers Fueling the Non-Volatile Memory Express (NVMe) Market Expansion?
The surging acceptance of cloud-based hosting services is projected to fuel the growth of the non-volatile memory express (NVMe) market. Cloud hosting provides applications and websites with access to cloud resources, deviating from the conventional practice of deploying solutions on a single server. This burgeoning adoption is anticipated to elevate the demand for NVMe since they are instrumental in enhancing the performance and interoperability of various enterprise-level services. Gartner Inc., a consulting firm located in the United States, forecasts that cloud services are set to supersede traditional solutions, accounting for more than 45% of IT expenditure on system infrastructure, infrastructure software, application software, and business process outsourcing by 2024. Consequently, the rise in the adoption of cloud-hosting services is expected to strengthen the demand for non-volatile memory express (NVMe) throughout the projected period.

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What Are the Key Trends Driving Non-Volatile Memory Express (NVMe) Market Growth?
The rise of technological advancements is a significant trend observed in the non-volatile memory express (NVMe) sector. To consolidate their market position, leading firms in the NVMe market are introducing innovative products and technologies. For instance, in October 2022, Kingston Digital, a reputed American computer technology corporation that specializes in the manufacture and support of flash memory products along with other computer-related memory offerings, introduced the NV2 PCIe 4.0 NVMe SSD. Powered by a Gen 4x4 NVMe controller, this next-gen storage solution is specifically developed for users seeking a potent Gen 4x4 NVMe PCIe performance in a smaller size, making it perfect for sleeker notebooks, small form factor (SFF) systems, and DIY motherboards.

How Is the Non-Volatile Memory Express (NVMe) Market Segmented?
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, Fiber Channel, InfiniBand
3) By Vertical: Banking, Financial Services, and Insurance (BFSI), Consumer Goods & Retail, Telecommunications & Information Technology enabled Services (ITeS), Healare, Energy, Government, Education & Research, Media & Entertainment, Manufacturing, Other Verticals

Subsegments:
1) By Solid-State Drives (SSDs): NVMe SSDs (Consumer), NVMe SSDs (Enterprise), M.2 NVMe SSDs, U.2 NVMe SSDs, PCIe NVMe SSDs
2) By Adapters: NVMe to SATA Adapters, NVMe to PCIe Adapters, M.2 to PCIe Adapters
3) By All-Flash Arrays: Hybrid All-Flash Arrays, Pure Flash Arrays
4) By Servers: NVMe-Enabled Servers, Hyper-Converged Infrastructure (HCI) Servers
5) By Other Products: NVMe Storage Switches, NVMe Fabrics, Other NVMe-Enabled Devices

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Which Companies Are Leading the Charge in Non-Volatile Memory Express (NVMe) Market Innovation?
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.

Which Regions Are Leading the Global Non-Volatile Memory Express (NVMe) Market in Revenue?
North America was the largest region in the non-volatile memory express (NVMe) market in 2024. 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.

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