New York, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Non-Volatile Memory Express (NVMe) Global Market Report 2022" - https://www.reportlinker.com/p06320106/?utm_source=GNW
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.
Read the full report: https://www.reportlinker.com/p06320106/?utm_source=GNW
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