According to the report by Expert Market Research (EMR), the global non-volatile memory express market size was around USD 49.01 billion in 2023. Aided by growing digitalisation and the increased need to manage and store data efficiently, the market is projected to further grow at a CAGR of 26% between 2024 and 2032 to reach a value of USD 392.14 billion by 2032.
Non-volatile memory express, often abbreviated as NVMe, is a protocol devised to accelerate the speed at which the data is accessed in solid-state drives (SSDs) over a computer’s high-speed Peripheral Component Interconnect Express (PCIe) bus. Essentially, NVMe has emerged as a transformative solution, drastically reducing latency, and enhancing Input/Output operations per second (IOPS) as compared to older protocols, thus offering superior overall performance.
One of the non-volatile memory express market trends is the growing traction of population towards NVMe owing to its unmatched benefits in speed, scalability, and low power consumption. As the data-intensive applications and workloads such as real-time analytics, high-performance computing, and digital content creation burgeon, the demand for swift data transfer and efficient storage solutions has also surged, positioning NVMe as a quintessential component in the process.
Get a Free Sample Report with a Table of Contents: https://www.expertmarketresearch.com/reports/non-volatile-memory-express-market/requestsample
Moreover, the boom in cloud-based applications and data centres is another catalyst fuelling the non-volatile memory express market growth. Data centres, in their quest for optimised performance and faster data retrieval, are progressively transitioning to NVMe-based architectures. Given that NVMe can handle increased levels of data traffic and offer reduced data transfer delays, it is becoming the go-to choice for these establishments.
In consumer electronics, especially in laptops and desktops, the non-volatile memory express market demand is bolstering. The promise of a faster boot-up, swift application launch, and overall improved system responsiveness offered by NVMe drives, as opposed to their SATA counterparts, is compelling both manufacturers and consumers to favour the adoption of NVMe-based SSDs.
Furthermore, the evolving tech landscape, with the emergence of IoT devices, AI-driven applications, and edge computing, predicates the importance of NVMe. These avant-garde technologies, which generate and process vast amounts of data, necessitate storage solutions that can keep pace, highlighting the pivotal role of NVMe.
The non-volatile memory express market analysis reveals that the enterprise segment provides fertile ground for NVMe adoption. With enterprises dealing with vast volumes of data and requiring rapid data access for mission-critical applications, NVMe’s ability to provide higher throughput and lower latency is particularly resonating.
Non-Volatile Memory Express Market Segmentation
The market can be divided based on component, communication standard, OS, applications, and region.
Market Breakup by Component
- Hardware
- SSD
- AIC
- QAT
- Storage Server
- NVMeoF Cards
- PCIe Connections
- Others
- Software
Market Breakup by Communication Standard
- Ethernet
- Fibre Channel
- InfiniBand Network
Market Breakup by OS
- Chrome OS
- DragonFly BSD
- Free BSD
- Haiku
- Illumos
- iOS
- Linux
- Windows
- Open BSD
- Others
Market Breakup by Applications
- OLTP
- OLAP
- Cloud Services
- Caching
- Primary Storage
- Data Virtualization
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/non-volatile-memory-express-market
Competitive Landscape of Non-Volatile Memory Express Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global non-volatile memory express market. Some of the major players explored in the report by Expert Market Research are as follows:
- Samsung Electronics Co., Ltd.
- Western Digital Corporation
- Intel Corporation
- Broadcom Inc.
- Others
About Us
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today’s competitive market.
Don’t miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation’s future success by acquiring one of our Expert Market Research reports today.
Media Contact:
Company Name: Claight Corporation
Contact Person: Anna Poliatova, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: www.expertmarketresearch.com
