According to a new market research report published by Acute Market Reports “Peripheral Component Interconnect Express Market (Product Type –PCI Express 1, PCI Express 2, PCI Express 3, and PCI Express 4), (Application- Storage, Data Center, and Others (External GPUs, High Performance Peripherals, etc.)) – Growth, Future Prospects and Competitive Analysis, 2023 - 2030”, the overall peripheral component interconnect express market worldwide is set to grow with a CAGR of 18.4% during the forecast period. 

Market Insights

Significant growth of data storage market worldwide is boosting the demand for peripheral component interconnect express market.  The data storage market is rising with more than 5% annually. Peripheral component interconnect express is used to establish a standard form of connection across the internal components of a computer system. These components are being used to increase efficiency and performance of the computer system. Peripheral component interconnect express is a different type of technology and it is always under technical modifications such as increased data transfer speed, high performance and others. Due to all these aforementioned factors, we expect that the peripheral component interconnect express market will show tremendous growth during the forecast period. 

Based on application, we segmented the peripheral component interconnect express market into storage, data center, and others (external GPUs, high performance peripherals, etc.). The storage segment has the largest market share accounted for more than 40% of the market revenue worldwide in 2021. Increase in big data market is the major driving factor for the growth of storage segment. Use of peripheral component interconnect express for data interface to flash memory components is the other major growth factor for the segment. As a consequence, we expect that the storage segment will continue leading the market throughout the forecast period from 2023- 2030. 

Based on the geography, the peripheral component interconnect express market is segmented into North America, Europe, Asia Pacific and Rest of the World. Further, in 2021, North America has the largest share in this market, accounted for more than 40% of the revenue worldwide. U.S. is the largest contributor in this region and accounts for more than 80% of the market revenue in 2021. To accommodate the large volume of data generated, U.S. has increased its investments for construction of data centers. Further, which in turn is helping the peripheral component interconnect express market to grow in the region. Therefore, we expect that North America will continue to be the largest contributor in the peripheral component interconnect express market during the forecast period. 

Browse the full report at https://www.acutemarketreports.com/report/peripheral-component-interconnect-express-market

The Global Peripheral Component Interconnect Express Market is Segmented into:

*Complete segmentation list is on report page

Some of the major companies profiled in the report include Intel Corporation, Nvidia Corporation, Toshiba Corporation, PLDA SAS, Samsung Group, Texas Instruments Incorporated, Microsemi Corporation, NXP Semiconductors, Semtech Corporation, Integrated DNA Technologies, Inc., among others.