Future Market Insights (FMI) has published a new market research report on social employee recognition systems. The report has been titled, Global NVMe Over Fiber Channel Market: Global Industry Analysis, Forecast. Long-term contracts with large enterprises and private companies are likely to aid the expansion of business revenues, and innovation in the industry will enable social employee recognition system vendors to reach out to new potential customers in emerging markets. These factors are expected to help the global market for social employee recognition systems observe stellar growth in next few years.
As per the latest survey conducted by FMI, the global NVMe over the fiber channel market is predicted to top US$ 30.36 billion in 2020. In response to the increasing adoption of non-volatile memory express (NVMe) over fiber channels by data centers, telecom service providers, and enterprises, the market is estimated to surpass US$ 255.64 billion by the end of 2031.
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Historically, the market registered growth at 20.8% from 2016 to 2020. It is expected to register growth at an accelerated pace as end users exhibit higher inclination for the solid-state drive (SSD), as it offers better encryption and faster data transfer speed than traditional SSDs, which is in turn, spurring the sales of NVMe devices. As per FMI, the market is expected to grow at a CAGR of 23.7% during 2021-2031.
Rising integration of advanced technologies such as the internet of things, machine learning, and cloud computing across organizations has increased the overall volume of data created, captured, consumed, and copied across the world.
“Rapidly changing computing dynamics for developers of laptops, computers, and tablets along with increasing demand for secured intellectual data storage devices across IT & telecom and banking, financial services and insurance industries are expected to accelerate the market growth in the coming year,” says the FMI analyst.
Key Takeaways from the NVMe over Fiber Channel Market Analysis
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Leading companies in the market are Intel Corporation, Samsung Electronics Co., Ltd., Western Digital Corporation, Dell EMC, Hewlett Packard Enterprise, and IBM, are the top NVMe over fiber channel vendors. These players are anticipated to account for more than 60% of the total sales in the landscape.
Leading players are extensively investing in research and development activities for the optimization of novel devices and technologies. Besides this, some of the key companies are focusing of new product launching to expand their product portfolio. For instance,
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More Valuable Insights on NVMe over Fiber Channel Market
FMI, in its new report, offers an unbiased analysis of the global NVMe over fiber channel market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in NVMe over fiber channel market with detailed segmentation:
By Enterprise Size:
By End User:
Key Questions Covered in the Report
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