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NVMe (nonvolatile memory express) Market

NVMe (nonvolatile memory express) Market: Information by Communication Standard (Ethernet, Fibre Channel), Deployment Location (On-premise, Remote, Hybrid), and Region — Forecast till 2029

Published On : 11 Dec, 2020
Updated On : 07 Dec, 2022
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Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
28.5 %
Fastest Growing Market:
Asia Pacific
Largest Market:
North America

Non-volatile memory express (NVMe), also refers to as Non-volatile memory host controller interface (NVMHCI). NVME interface created to escalate the transfer of data between organizations and client systems and solid state drives. Moreover, NVME provides alternative option to small computer system interface standard and Advance technology interface standard in order to connect and transmit data between host and targeted storage device.

Furthermore, NVME offers broad range of traits that includes; low latency, reduction in CPU usage, enhance bandwidth, various packing options, and increase in input and output activity rates. Substantial growth in data generation and evolving demand for data storage and processing infrastructure, growing adoption of NVME technologies in SSDs, storage appliances and servers among others are the factors fuelling the market growth. However, problem associated with storage software hinders the market growth.

The global NVMe market size was valued at USD 55.38 billion in 2021. It is projected to reach USD 529.03 billion by 2030, growing at a CAGR of 28.5% during the forecast period (2022–2030).

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Market Dynamics

Substantial Growth in Data Generation and Evolving Demand for Data Storage

Over the few decades the enterprises has witnessed substantial increase in data generation on account of surge in digital devices and cloud based services. Furthermore, growing globalization and digitization across all industry vertical particularly the manufacturing sector also leads to the generation of huge volumes of data. This enables the necessity of next-generation data storage to store a huge volume of data in order to carry out various applications. Moreover, next-generation data storage offers multiple attributes that include; greater operation speed, less heat production, improved efficiency and faster deployment among others.

Segmental Analysis

The global NVME market has been segmented into communication standards, deployment location, product and Vertical.

Product

On the basis of product, the global NVME market has been categorized into Solid-state Drives (SSDs), Adapters, All-flash Arrays, Servers and Others

Solid-state Drives (SSDs) holds higher CAGR and are expected to grow during the forecast period. The growth is attributed to wider benefits of SSDs comparable to other segments. This includes; lower latency, and faster operations among others. Moreover, the increasing adoption of SSDs in data centre is the primary factor fuelling the market growth. Furthermore, growing penetration of cloud computing across the globe on account of surge in SMEs also paves the way for market growth. 

Communication Standard

On the basis of communication standard, the global NVME market has been categorized into Ethernet, Fibre Channel, and InfiniBand

Ethernet segment holds higher CAGR and is presumed to grow during the forecast period. The growth is attributed to growing machine to machine communication across the manufacturing and automotive industry. Moreover, increasing demand for flexible, scalable and reliable communication services also paves the way for Ethernet segment. Additionally, surge in demand for increased connection distance, higher speed and capabilities to connect multiple nodes is also one of the factors fuelling the market growth.

  • Recent Development

In May 2020, Qwest Communications has expands its Ethernet bandwidth product portfolio with the launch of new 3-, 5- and 7-Megabits per second (Mbps) Ethernet bandwidth services. This enables Quest communications to enhance its user experience.

Deployment Location

On the basis of location, the global NVME market has been segmented into on-premise, remote and hybrid.

Hybrid deployment holds higher CAGR and is expected to grow during the forecast period. The growth is attributed to wide range of offerings of hybrid deployment comparable to other segment. This includes; cost-effective solutions, scalability and high security among others. Moreover, hybrid deployment Bridge the gap between on-premise and cloud deployment thereby offers higher efficiency and agility. Furthermore, disaster recovery in the case of security frauds in cloud storage also paves the way for hybrid deployment market. Moreover, surge in necessity to avoid lock-in also fuels the hybrid deployment market growth.

  • Recent Development

In August 2019, Equinix partnered with VMware Inc., to accelerate enterprises hybrid deployment. This partnership enables to develop hybrid deployment to enhance security solutions.

Vertical

Energy sector holds higher CAGR and is expected to witness growth during the forecast period. The growth is attributed to broad offering of NVME technology that includes; power management, including support for non-operational power states for low idle power to extend the battery life of mobile devices and laptops. Furthermore, increasing investment in energy sector across the globe is also one of the factors escalating the market growth. Moreover, surge in trends of adoption of innovation products to enhance the operational efficiency also leads to the growth of market.

Impact of COVID-19

The impact of COVID-19 has devastating effect across all indthe U.S.try vertical globally. However, the market of NVME has slightly increased on account of increase in work from home across all indthe U.S.try vertical globally. This enables to increase adoption of laptops and other storage devices thereby paving the way for adoption of NVME market. However, the NVME market has also witnessed declination amid pandemic COVID-19 as government has imposed lockdown on account of which all the supply chain and indthe U.S.tries has temporarily shutdown.

Regional Overview

North-America-Lead-NVMe-Market

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North America holds higher CAGR and is presumed to grow during the forecast period. The growth is attributed to an early adoption of technologies. Furthermore, presence of major players in the region such as; Boradcom Inc., Micron Technology and Machine Corporation offering NVME technology also fuels the market growth. Moreover, North America is also considered as one of the key region for adoption of electronics devices such as laptop, tablets, and smart phones among others. This enables increase in adoption of NVME technology to speed up the data transfer. Additionally, presence of numerous SMEs which prefers cloud deployment on account of budget constraints also leads to the development of market.

Recent Development

In February 2019, Intel Corporation has launched Intel SSD DC P4510 Series and P4511 Series for the application of data centre. This enables Intel Corporation to expands its product offering to enhance its users experience.

Asia-Pacific is the fastest growing region in NVME market and is presumed to grow during the forecast period. The growth is attributed to increasing investment in developing economies such as China, India and Indonesia among others. Furthermore, presence of some of the prominent vendors in the region such as Samsung Electronics Co. Ltd also plays a crucial role in the development of NVME market in the region. Moreover, increasing adoption of smart connectivity such as Laptops, tablets and smart phones on account of surge in disposable incomes leads to the development of the market.

Competitive Landscape

Samsung Electronics Co., Ltd. (Samsung) (South Korea), Western Digital Corporation (Western Digital) (THE U.S.), Intel Corporation (Intel) (THE U.S.), Dell EMC (THE U.S.), Hewlett Packard Enterprise (HPE) (THE U.S.), Broadcom Inc. (Broadcom) (THE U.S.), Micron Technology, Inc. (Micron Technology) (THE U.S.), Cisco Systems, Inc. (Cisco) (THE U.S.), Toshiba Corporation (Toshiba) (Japan), NetApp, Inc. (NetApp) (THE U.S.), International Bthe U.S.iness Machines Corporation (IBM) (THE U.S.), Microchip Technology Inc. (Microchip Technology) (THE U.S.), Marvell Technology Group (Marvell) (THE U.S.), Seagate Technology LLC (Seagate) (THE U.S.), SK Hynix Inc. (SK Hynix) (South Korea), Renesas Electronics Corporation (Renesas Electronics) (Japan), Mellanox Technologies Ltd. (Mellanox) (Israel), Pure Storage, Inc. (Pure Storage) (THE U.S.), Super Micro Computer, Inc. (Supermicro) (THE U.S.), and Huawei Technologies Co., Ltd. (Huawei) (China)

Global NVMe (nonvolatile memory express) Market Segmentation

By Product

  • Solid-state Drives (SSDs)
  • Adapters
  • All-flash Arrays
  • Servers
  • Others

By Communication Standard

  • Ethernet
  • Fibre Channel
  • InfiniBand

By Deployment location

  • On-premise
  • Remote
  • Hybrid

By Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • Consumer Goods & Retail
  • Telecommunications & ITeS
  • Healthcare
  • Energy
  • Government
  • Education & Research
  • Media & Entertainment
  • Manufacturing
  • Bthe U.S.iness & Consulting
  • Others

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • The U.K.
  • Italy
  • France
  • Spain
  • Germany
  • The Rest of Europe

The Middle East and Africa (MEA)

  • Saudi Arabia
  • Egypt
  • South Africa
  • The Rest of MEA

Asia-Pacific

  • India
  • China
  • Japan
  • Athe U.S.tralia
  • South Korea
  • The Rest of Asia-Pacific

South America

  • Columbia
  • Brazil
  • Chile
  • Peru
Report Metric Details
Market Size USD in Billion By 2030
CAGR CAGR 28.3%
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered by Communication Standard (Ethernet, Fibre Channel), Deployment Location (On-premise, Remote, Hybrid)
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors , Samsung Electronics Co., Ltd. (Samsung) (South Korea), Western Digital Corporation (Western Digital) (THE U.S.), Intel Corporation (Intel) (THE U.S.), Dell EMC (THE U.S.), Hewlett Packard Enterprise (HPE) (THE U.S.), Broadcom Inc. (Broadcom) (THE U.S.), Micron Technology, Inc. (Micron Technology) (THE U.S.), Cisco Systems, Inc. (Cisco) (THE U.S.), Toshiba Corporation (Toshiba) (Japan), NetApp, Inc. (NetApp) (THE U.S.), International Bthe U.S.iness Machines Corporation (IBM) (THE U.S.), Microchip Technology Inc. (Microchip Technology) (THE U.S.), Marvell Technology Group (Marvell) (THE U.S.), Seagate Technology LLC (Seagate) (THE U.S.), SK Hynix Inc. (SK Hynix) (South Korea), Renesas Electronics Corporation (Renesas Electronics) (Japan), Mellanox Technologies Ltd. (Mellanox) (Israel), Pure Storage, Inc. (Pure Storage) (THE U.S.), Super Micro Computer, Inc. (Supermicro) (THE U.S.), and Huawei Technologies Co., Ltd. (Huawei) (China),
Key Market Opportunities Increasing Prevalence Of The Technology Industry Enhances The Expansion Of The Nvme (Nonvolatile Memory Express) Market Share
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