Key Drivers and Opportunities in the Non-Volatile Memory Express (NVMe) Market: Insights into Trends and Growth
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What Long-Term Growth Rate is Expected for the Non-Volatile Memory Express (NVMe) Market Between 2025 and 2034?
In the past few years, the market size of non-volatile memory express (NVMe) has amplified massively. It is projected to escalate from $87.99 billion in 2024 to $116.24 billion in 2025, witnessing a compound annual growth rate (CAGR) of 32.1%. The growth observed in the historic period can be traced back to the adoption of data centers, escalating data volumes, increased attention to energy-efficiency, expansion in the healthcare and life sciences sectors, and the growth in emerging markets.
In the upcoming years, a significant surge is anticipated in the market size of non-volatile memory express (NVMe), expanding to a whopping $328.69 billion by 2029 at a compound annual growth rate (CAGR) of 29.7%. Such a rise in the projection period can be linked to the broadening of IT infrastructure, heightened digitalization, a burgeoning gaming industry, and an increase in disposable income. Notable trends expected during this projection period encompass the incorporation of edge computing, the rise of NVMe over fabrics (NVMe-oF), the acceleration of AI and machine learning, enhancements in security, and greater customization and integration.
How Are the key drivers Contributing to the Expansion of the non-volatile memory express (nvme) Market?
The burgeoning use of cloud-hosting services is likely to fuel the market for non-volatile memory express (NVMe). Cloud hosting grants applications and websites the ability to utilize cloud resources. Unlike its traditional counterparts, these solutions are not confined to a single server. The growing use of cloud-hosting services is expected to spur the demand for NVMe, given their crucial role in enhancing the performance and interoperability of a variety of enterprise-level services. As per the US-based consulting firm, Gartner Inc., traditional solutions are anticipated to be replaced by cloud services, with over 45% of IT expenditure on system infrastructure, infrastructure software, application software, and business process outsourcing expected by 2024. Consequently, the rise in the adoption of cloud-hosting services is likely to propel the demand for non-volatile memory express (NVMe) throughout the forecasted timeline.
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What Are the Key Firms That Are Driving Transformation in the Non-Volatile Memory Express (NVMe) Market?
Major companies operating in the non-volatile memory express (NVMe) market include:
• Intel Corporation._x000D_
• Toshiba Corporation_x000D_
• Samsung Electronics Co. Ltd._x000D_
• Adesto Technologies Corporation_x000D_
• Viking Technology_x000D_
What Current Trends in the Non-Volatile Memory Express (NVMe) Market Should Industry Players Pay Attention To?
Advancements in technology are a key trend emerging in the non-volatile memory express (NVMe) market. The leading companies in the NVMe market are working on new products and technological solutions to consolidate their market presence. Take for example, Kingston Digital, a computer technology company based in the US. This company is involved in the development, production, sales, and support of flash memory products and other related computer memory products. In October 2022, it introduced the NV2 PCIe 4.0 NVMe SSD, a next-generation storage solution driven by an advanced Gen 4×4 NVMe controller. This state-of-the-art NV2 PCIe 4.0 NVMe SSD is specifically made for customers looking for robust Gen 4×4 NVMe PCIe performance in a condensed form factor. This makes it perfect for slender laptops, small form factor (SFF) systems, and DIY motherboards.
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Which Segments Play a Crucial Role in the Expansion of the Non-Volatile Memory Express (NVMe) Market?
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), Healthcare, 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
What Regions Are Driving Expansion in the Non-Volatile Memory Express (NVMe) Market?
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.
What Key Parameters Define the Non-Volatile Memory Express (NVMe) Market’s Scope?
The non-volatile memory express refer to a scalable and high-performing controller interface with the command set streamlined registered interface. It is designed for systems, enterprises, and data centers 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.
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