DUBLIN--(BUSINESS WIRE)--The "Non-Volatile Memory Express (NVMe) Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global non-volatile memory express market is expected to grow from $38.26 billion in 2021 to $49.30 billion in 2022 at a compound annual growth rate (CAGR) of 28.86%. The non-volatile memory express market is expected to grow to $149.06 billion in 2026 at a compound annual growth rate (CAGR) of 31.86%.
North America was the largest region in the non-volatile memory express (NVMe) market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
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 servuces are pridicted 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.
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 March 2020, 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 NV1 NVMe PCIe SSD, an entry-level NVMe SSD. Due to its M.2 form factor, it is suitable for thin laptops. According to Kingston Digital company, The M.2 NVMe SSD is three times faster than SATA-based SSDs.
In September 2019, Western Digital Corporation, a US-based computer hard disk drive manufacturer and data storage company, acquired Kazan Networks for an undisclosed amount. With this acquisition, Western Digital broadens its knowledge of fabric-enabled architectures, enabling the company to improve its line-up of NVMe fabric-ready platforms and systems, including its OpenFlexTM composable disaggregated infrastructure (CDI) offerings. Kazan Networks California-based provider of NVMe-over-Fabric (NVMe-oF) ASIC and adapter products for next-generation data center architectures.
The non-volatile memory express (NVMe) market consists of the sales of NVMe products and services by entities (organizations, partnerships, and sole proprietors) that refers to a scalable and high-performing controller interface with the command set streamlined registered interface. It is designed for systems, enterprises, and data centres to effectively utilize storage based on non-volatile memory. NVM Express can assist businesses, cloud services operators, and data centers in increasing the performance demands of non-volatile memory storage.
The main products of non-volatile memory express (NVMe) are solid-state drives (SSD), adapters, all-flash arrays, servers, and other products. An SSD, or solid-state drive, is a type of computer storage device. On solid-state flash memory, this non-volatile storage medium stores persistent data. SSDs are hard disc drives (HDDs) that replace traditional hard disc drives (HDDs) in computers and perform the same basic functions as a hard drive.
The communication standard used in NVMe include ethernet, fiber channel, and infiniband. The non-volatile memory express products are used by industries ranging from banking, financial services, and insurance (BFSI), consumer goods & retail, telecommunications & information technology enabled services (ITeS), healthcare, energy, government, education & research, media & entertainment, manufacturing, and other verticals.
Major players in the non-volatile memory express (NVMe) market are
- Samsung Electronics Co Ltd
- Western Digital Corporation
- Intel Corporation
- Dell EMC
- Hewlett Packard Enterprise
- Broadcom
- Cisco
- Excelero Kingston Technology Europe Co LLP
- IBM Corporation
- Lenovo
- Marvell
- Micron Technology Inc
- Microsemi
- Oracle
- Pure Storage Inc
- Microchip Technology Inc.
Key Topics Covered:
1. Executive Summary
2. Non-Volatile Memory Express (NVMe) Market Characteristics
3. Non-Volatile Memory Express (NVMe) Market Trends And Strategies
4. Impact Of COVID-19 On Non-Volatile Memory Express (NVMe)
5. Non-Volatile Memory Express (NVMe) Market Size And Growth
5.1. Global Non-Volatile Memory Express (NVMe) Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Non-Volatile Memory Express (NVMe) Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Non-Volatile Memory Express (NVMe) Market Segmentation
6.1. Global Non-Volatile Memory Express (NVMe) Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Solid-state Drives (SSDs)
- Adapters
- All-flash Arrays
- Servers
- Other Products
6.2. Global Non-Volatile Memory Express (NVMe) Market, Segmentation By Communication Standard, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Ethernet
- Fibre Channel
- InfiniBand
6.3. Global Non-Volatile Memory Express (NVMe) Market, Segmentation By Vertical, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Banking, Financial Services, and Insurance (BFSI)
- Consumer Goods & Retail
- Telecommunications & Information Technology enabled Services (ITeS)
- Healthcare
- Energy
- Government
- Education & Research
- Media & Entertainment
- Manufacturing
- Business & Consulting
- Other Verticals
7. Non-Volatile Memory Express (NVMe) Market Regional And Country Analysis
7.1. Global Non-Volatile Memory Express (NVMe) Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Non-Volatile Memory Express (NVMe) Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
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