The Non-volatile Memory Express (NVMe) Market is projected to grow from USD 44.6 billion in 2020 to USD 163.5 Billion by 2025, at a CAGR of 29.7% from 2020 to 2025.

Non-volatile memory express (NVMe) is a host controller interface and storage protocol that is used to increase the speed of data transfer between a host system and a peripheral target storage device over a computer’s high-speed Peripheral Component Interconnect Express (PCIe) bus. NVMe is designed for storage and networking devices with NVMe interface and NVMe compatibility, including solid-state drives (SSDs), adapters, storage arrays, and servers.

Key Players:

Some of the Major players in the Non-volatile Memory Express (NVMe) Market are Intel Corporation (US), Western Digital Corporation (US), SAMSUNG (South Korea), Dell Technologies Inc. (US), and Hewlett Packard Enterprise Company (US). These players have adopted various growth strategies such as contracts, joint ventures, partnerships & agreements, acquisitions, and new product launches to further expand their presence in the Non-volatile Memory Express (NVMe) Market.

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Growing Digitalization Across Various Industry Verticals Creating High Demand for High-end Data Storage and Processing Infrastructure

The enormous growth in the volume of digital data companies generated recently has made it difficult for many organizations to manage such large amounts of data. Increasing digitization across businesses has led to more content creation, with over 80% of data being in documents, images, and audio/video files, contributing to an abundance of unstructured data and content. This has made it essential for businesses to explore efficient database applications and implement scalable content management and storage solutions being deployed across enterprises.

Proliferation of artificial intelligence, big data, and blockchain technologies to fuel the adoption of NVMe

The adoption of artificial intelligence (AI) is growing significantly in end-use industries such as healthcare, defense, and transportation. Machine learning (ML) and blockchain analytics have gained the same level of traction and have become an important technology in AI. Companies that have adopted AI and ML in their production are shifting to a multi-cloud environment to ensure enhanced data protection and drive seamless customer experience. As they make this essential transition to the multi-cloud environment, NVMe technology becomes important for both on-premises and cloud storage of enterprise data and networking.

All-flash arrays segment of NVMe market projected to grow at highest CAGR during forecast period

This growth is because of the increasing applications of NVMe-based all-flash arrays in enterprises and data centers. NVMe-based storage arrays use flash memory and get seamless support from drivers such as Windows 8, Linux kernel, and vSphere. These storage arrays also provide all the benefits of the NVMe interface, such as low latency, faster IOPS, faster read/write operations, etc.

InfiniBand expected to grow at second-highest CAGR during forecast period

InfiniBand is known for the rapid rate at which it performs. It is scalable and supports quality of service (QoS) and failover. It is majorly used as a server interconnect in high-performance computing (HPC) environments. The growing number of HPC applications and the use of IPv6, which enables unlimited expansions, drive the growth of InfiniBand as a communication standard. Therefore, this segment is projected to grow at the second-highest CAGR.

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Healthcare vertical of NVMe market to grow at highest CAGR during forecast period

The need for NVMe-based data storage and solutions in the healthcare vertical is mostly due to the improvements in data analytics, adoption of wearable technology for health monitoring, and scientific research. Researchers in the healthcare industry need to analyze huge amounts of data. Storing, managing, and accessing a large amount of information requires high-speed data storage solutions. Similarly, data from patient records, including emails, back office, and tracking records, among others, require reliable, high-capacity data storage. NVMe-based storage, especially all-flash arrays, is expected to be adopted at a high rate because of their benefits such as enhanced performance with increased IOPS and low latency. The reduction in the average selling price of NVMe-based all-flash arrays is also driving its adoption.

NVMe Market in RoW projected to grow at highest CAGR from 2020 to 2025

The growth of the NVMe industry in Middle East & Africa is attributed to the increased investments by telecom operators and financial institutions in advanced storage solutions. The energy sector in the Middle East is growing at a steady pace, and the players in the sector have significant growth opportunities in this region. This region is one of the largest producers of oil and gas. The oil & gas sector requires advanced data computing, processing, and storage solutions to analyze a large amount of seismic data. This has led to an increased demand for advanced data storage solutions. Increased expenditure on IT infrastructure is also driving the growth of the NVMe market in RoW. The increase in demand for smart devices as a result of the introduction of IoT, along with massive development in social media channels, has raised the need for storage in this region.

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