Non-Volatile Memory Global Market 2024 To Reach $177.06 Billion By 2028 At Rate Of 15.6%

The Business Research Company's Non-Volatile Memory Global Market 2024 To Reach $177.06 Billion By 2028 At Rate Of 15.6%

LONDON, GREATER LONDON, UK, September 11, 2024 /EINPresswire.com/ --
The non-volatile memory market has seen rapid growth in recent years, expanding from $85.71 billion in 2023 to $99.31 billion in 2024, at a compound annual growth rate (CAGR) of 15.9%. This growth has been fueled by the semiconductor industry, consumer electronics, the push for energy efficiency. It will grow to $177.06 billion in 2028 at a compound annual growth rate (CAGR) of 15.6% ,the increasing need for reliable data storage, market competition, and the inherent reliability and durability of non-volatile memory solutions.

Cloud Hosting's Role in Driving NVMe Market
The rise in the adoption of cloud-hosting services is a significant driver of the non-volatile memory express (NVMe) market. Cloud hosting enables applications and websites to access resources from the cloud, unlike traditional hosting solutions that rely on a single server. NVMe plays a crucial role in enhancing the performance and interoperability of various enterprise-level services. According to Gartner Inc., by 2024, more than 45% of IT spending on system infrastructure, software, and business process outsourcing will shift to cloud services, further driving the demand for NVMe.

Explore comprehensive insights into the global non-volatile memory market with a detailed sample report: https://www.thebusinessresearchcompany.com/sample_request?id=5146&type=smp

Key Players and Technological Developments
Major companies in the non-volatile memory market include Samsung Electronics Co. Ltd., Western Digital Corporation, Intel Corporation, and Dell EMC, among others. These companies are focusing on technological advancements to solidify their market positions. For instance, in October 2022, Kingston Digital launched the NV2 PCIe 4.0 NVMe SSD, a next-generation storage solution designed for power-packed Gen 4x4 NVMe PCIe performance in a compact form factor. This product is ideal for thinner notebooks, small form factor systems, and DIY motherboards, highlighting the market's trend towards more compact and efficient memory solutions.

Market Segments
• By Type: Flash Memory, EPROM, FRAM, 3D-X Point, NRAM, Other Types
• By Wafer Size: 200mm, 300mm, 450mm
• By End User: Consumer Electronics, Enterprise Storage, Automotive and Transportation, Military and Aerospace, Industrial, Telecommunication, Energy and Power, Healthcare, Agricultural, Retail

Geographical Insights: North America Leading The Market
North America was the largest region in the non-volatile memory express (NVMe) market in 2023, driven by the strong presence of key industry players and high adoption rates of advanced technologies. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period, propelled by the rapid industrialization and technological advancements in countries like China and India.

Access the complete report for an in-depth analysis of the global non-volatile memory market: https://www.thebusinessresearchcompany.com/report/non-volatile-memory-global-market-report

Non-Volatile Memory Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Non-Volatile Memory Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on non-volatile memory market size, non-volatile memory market drivers and non-volatile memory market trends, non-volatile memory market major players, non-volatile memory market competitors' revenues, non-volatile memory market positioning, and non-volatile memory market growth across geographies. The non-volatile memory market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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