Ascending Demand for Efficient Cloud Computing and Data Storage Solutions to Propel Market Growth
Technology has evolved at a rapid pace along with the electronic space. In the current day and age, data has emerged as one of the most valuable assets. The demand for advanced and efficient data management is scaling new heights and expected to grow at a rapid pace in the coming years. New generation technologies are expected to fulfil the growing need for effective data management. In the current scenario, owing to the soaring popularity and adoption of novel technologies, including artificial intelligence (AI), machine learning, and Internet of Things (IoT), among others, data management is the need of the hour. Peripheral component interconnect Express (PCIe) switches have emerged as one the most effective and reliable solutions to address the evolving data management requirements.
Stakeholders in the PCIe switches market are primarily focusing on launching new PCIe switches with improved speed and functionalities. PCIe switches are increasingly being deployed across data centers and the communication industry, owing to their exceptional performance. In addition, the ascending consumer demand for low latency, energy-efficient, and reliable interconnect solutions, particularly for applications in data centers is expected to provide a boost to the sales of PCIe switches during the forecast period (2019-2027). The global PCIe switches market is expected to reach a market value of ~US$ 9.2 Bn by the end of 2027.
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Advent of PCIe 4.0 to Improve Adoption of PCIe Switches
The demand for high-performance storage has played a key role in driving innovations in the PCIe switches market in the past few years. Stakeholders in the current market landscape are aligning their product development strategies in tune with the ascending consumer demand for faster and reliable data storage and management solutions. While PCIe 3.0 switches offered a maximum speed of around 3,500MB/s, the new addition to the PCIe switches family, the PCIe 4.0 is likely to offer speeds up to 5000 MB/s. With the advent of PCIe 4.0, the overall speed at which PCIe slot operates is doubled and provides a staggering 2GB/s per lane as opposed to the 1GB/s per lane offered by PCIe 3.0. In addition, as PCIe 4.0 switches aid in efficient utilization of data center resources, which, in turn, offers an optimal return on capital expenditures, the demand for advanced PCIe 4.0 switches is expected to grow at a rapid pace in the coming years.
Stakeholders Focus on Launching New PCIe Switches to Fulfil End User Requirements
Stakeholders operating in the current PCIe switches market are concentrating their resources on the development of new PCIe switches to meet the evolving end user requirement and strengthen their foothold in the current PCIe switches market landscape. In addition, PCIe vendors are increasingly focused toward the development of new PCIe switches for application in machine learning, artificial intelligence, and cloud computing. For instance, in August 2019, Broadcom announced the launch of new PCIe switches for cloud providers and data centers. In addition, the new addition to product offerings of the company was primarily designed to fulfil the growing requirement for high-performance computing and storage.
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In addition, PCIe switches market players are also investing resources to design PCIe switches with innovative architecture to address a range of challenges put forward by the previous iterations of PCIe switches. While the deployment of PCIe switches for server and storage application continues to grow at a significant pace, its adoption as a primary system interconnect for systems with distributed intelligence was negligible. Stakeholders in the current PCIe switches market landscape are expected to turn their attention toward ensuring that the system architecture can efficiently leverage the benefits of PCIe switches, including low power consumption and optimum scalability. As the newly designed architecture offers a range of benefits, including multi-root support, emphasis on designing new system architecture is expected to remain high. Key vendors in the current PCIe switches market landscape are expected to focus on the development of a dynamic architecture, which will do justice to benefits offered by PCIe switches.