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Non-Volatile Memory Express (NVMe) Global Market Report 2022

·4-min read

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, and Microchip Technology Inc.

New York, Sept. 21, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Non-Volatile Memory Express (NVMe) Global Market Report 2022" -

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%.

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.

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 regions covered in the non-volatile memory express (NVMe) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The non-volatile memory express (NVMe) market research report is one of a series of new reports that provides non-volatile memory express (NVMe) market statistics, including non-volatile memory express (NVMe) industry global market size, regional shares, competitors with a non-volatile memory express (NVMe) market share, detailed non-volatile memory express (NVMe) market segments, market trends and opportunities, and any further data you may need to thrive in the non-volatile memory express (NVMe) industry. This non-volatile memory express (NVMe) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 countries covered in the non-volatile memory express (NVMe) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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