Logical Volume Management
Logical Volume Management or LVM provides a method of allocating space on mass-storage devices that is more flexible than conventional partitioning schemes. In particular, a volume manager can concatenate, stripe together or otherwise combine partitions into larger virtual ones that administrators can re-size or move, potentially without interrupting system use.[1]
Volume management represents just one of many forms of storage virtualization; its implementation takes place in a layer in the device-driver stack of an OS (as opposed to within storage devices or in a network).[1]