The Non-volatile Memory Express (NVMe) Market would increase from USD 44.6 billion in 2020 to USD 163.5 billion by 2025, at a CAGR of 29.7%.
According to a recent industry research analysis, the Non-volatile Memory Express (NVMe) Market is anticipated to expand rapidly between 2021 and 2025. The sector is expected to grow rapidly, according to the analysis, which examines a variety of NVMe products including solid-state drives (SSDs), servers, all-flash arrays, and adapters as well as various deployment sites, communication standards, verticals, and regions. The growing use of NVMe SSDs in data centres, the rising demand for high-performance computing, and the rising demand for quicker data processing and storage are the main causes causing this increase. The research also emphasises the contribution of several communication protocols, including Ethernet, Fibre Channel, and InfiniBand, to the expansion of the NVMe market. According to the survey, on-premise deployment will remain the most popular on the market, followed by remote and hybrid installations. The NVMe market's banking, financial services, and insurance (BFSI), healthcare, and retail verticals are predicted to grow at the fastest rates. Lastly, a regional analysis of the NVMe market is presented in the study, highlighting the expansion prospects in North America, Europe, Asia Pacific, and the rest of the world.
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Several important factors are driving the non-volatile memory express (NVMe) industry in Asia Pacific, according to a recent analysis. According to the analysis, NVMe's substantial performance advantages over conventional storage technologies are the main reason for the region's market's expansion. Along with this, the industry is expanding as NVMe is being used more and more in servers, SSDs, and storage appliances. The development of end-to-end NVMe over fabrics (NVMe-Of) as a significant force behind the NVMe industry in Asia Pacific is also highlighted in the research. Through the usage of this technology, NVMe may be used over a network, facilitating quicker data access and lowering latency. According to the survey, NVMe is seeing increased usage in important sectors like blockchain, big data, IoT, artificial intelligence, and artificial general intelligence (AI). The NVMe market in Asia Pacific is expected to grow rapidly over the next few years, according to the report as a whole.
By product, all-flash arrays segment is projected to grow at high rate in the Asia Pacific NVMe market during the forecast period
In the Asia Pacific NVMe market, the all-flash arrays category is anticipated to have rapid expansion. The region's businesses and data centres' growing adoption of all-flash arrays is credited with the increase rate. Flash memory is used by NVMe-based all-flash arrays, which provide high-end connection through drivers like vSphere, the Linux kernel, and Windows. These all-flash arrays have a number of advantages, including low latency, quicker input/output operations per second (IOPS), and faster read/write operations. All-flash arrays require less upkeep, produce less heat, and use less electricity because they don't have any moving parts. The adoption of all-flash arrays in the market is cited in the report as being fueled by these premium features.
By vertical, the healthcare segment in Asia Pacific NVMe Market is stipulated to witness a high growth rate
According to a recent analysis, the Asia Pacific NVMe market's healthcare vertical is predicted to rise rapidly during the projected year. The paper attributes this surge to developments in telemedicine, healthcare robotics, and cutting-edge medical research. For analytics purposes, a lot of healthcare businesses in the area are upgrading their data management and storage systems. It is simpler to record, evaluate, and follow patient medical records when there is enough data storage. The adoption of NVMe-based goods and storage options that provide improved data storage is also being sped up by new healthcare offers including collaborative mobile solutions, video conferencing, and built-in applications.
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Japan is projected to witness a high market share in the APAC market from 2020 to 2025
A recent study predicts that Japan would dominate the Asia Pacific region's non-volatile memory express (NVMe) market throughout the forecast period. The main force behind the development of the nation's cloud infrastructure is the high pace at which small and medium-sized businesses (SMEs) are utilising cloud services. Japan is regarded as one of the most developed markets for cloud services, offering significant room for expansion for cloud service providers. As a result, NVMe is increasingly in demand to suit the high-performance processing needs of cloud services. Favorable government programmes and funding initiatives by the local government will further aid in the expansion of the NVMe market in Japan. For instance, the Japanese government stated in September 2022 that it would provide US chipmaker Micron Technology, Inc. a subsidy of USD 320 million to support its plans to manufacture sophisticated memory chipsets at the Hiroshima factory in Japan. Such encouraging actions are anticipated to further accelerate the growth of the NVMe market in the area.
Key Players in the Market
The key players operating in the Asia Pacific non-volatile memory express (NVMe) market are Kioxia Corporation (Japan), SK Hynix, Inc. (South Korea), Renesas Electronics Corporation (Japan), SAMSUNG (South Korea), Intel Corporation (US), and Western Digital Corporation (US), among others.
In October 2022, Western Digital Corporation (US) launched its new gaming PCIe Gen-4 SSD based on NVMe technology. The new SSD offers data transfer speed up to 7,300 MB/s and this SSD is targeted for launch in the Indian market.
In March 2021, SAMSUNG (South Korea) launched new 980 NVMe SSD. The new SSD offers sequential read and write speeds at up to 3,500 and 3,000 MB/s, respectively. The new SSD is suitable for applications for everyday PC users and gamers.
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