With a compound annual growth rate (CAGR) of 29.7% throughout the forecast period, the Non-volatile Memory Express (NVMe) Market is anticipated to increase from USD 44.6 billion in 2020 to USD 163.5 billion by 2025. The market expansion is credited to elements including the expanding use of NVMe technologies in SSDs, servers, and storage appliances, the exponential growth in data generation, and the changing demand for infrastructure for data storage and processing. The performance improvements offered by NVMe encourage its adoption in a number of sectors, including financial services, healthcare, and transportation. The market study identifies the many product categories, deployment locations, communication protocols, industry verticals, and geographic regions that are fueling the NVMe market's expansion.
Samsung Electronics Co., Ltd. (Samsung) (South Korea), Western Digital Corporation (Western Digital) (US), Intel Corporation (Intel) (US), Dell EMC (US), Hewlett Packard Enterprise (HPE) (US), Broadcom Inc. (Broadcom) (US), Micron Technology, Inc. (Micron Technology) (US), Cisco Systems, Inc. (Cisco) (US), Toshiba Corporation (Toshiba) (Japan), and NetApp, Inc. (NetApp) (US) are the prominent players in the NVMe market.
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All-flash arrays segment of NVMe market projected to grow at highest CAGR during forecast period
The Non-volatile Memory Express (NVMe) Market is anticipated to develop at the highest CAGR throughout the projected period for all-flash arrays. The use of NVMe-based all-flash arrays in businesses and data centres is what is causing this surge. Flash memory-based NVMe-based storage arrays are supported seamlessly by drivers including Windows 8, Linux, and vSphere. All the advantages of the NVMe interface, including low latency, faster IOPS, quicker read/write operations, etc., are offered by these storage arrays. As a result, the all-flash arrays industry is anticipated to expand significantly over the next few years.
InfiniBand expected to grow at second-highest CAGR during forecast period
Due to its quick performance rate, scalability, and support for QoS and failover, the InfiniBand communication standard is anticipated to expand at the second-highest CAGR during the projected period. It is largely utilised as a server connection in high-performance computing environments, and its use of IPv6, which permits infinite extensions, and the rising number of HPC applications are both expected to drive growth. The Non-volatile Memory Express (NVMe) Market is anticipated to develop rapidly as a result of the rise of the InfiniBand sector.
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Healthcare vertical of NVMe market to grow at highest CAGR during forecast period
The NVMe market is anticipated to expand at the greatest CAGR in the healthcare vertical during the forecast period. The need for NVMe-based data storage and solutions in the healthcare sector is expanding as a result of scientific research, the adoption of wearable technologies for health monitoring, and the demand for data analytics. To handle and retrieve massive volumes of data, including patient records, emails, back office records, and monitoring records, the healthcare sector needs high-speed data storage systems. Due to its improved performance with greater IOPS and low latency, NVMe-based storage, especially all-flash arrays, is anticipated to be adopted at a high rate. The adoption of NVMe-based all-flash arrays in the healthcare sector is also being fueled by the decline in the average selling price of these systems.
NVMe market in RoW projected to grow at highest CAGR from 2020 to 2025
Throughout the projection period from 2020 to 2025, the NVMe market in the Rest of the World (RoW) region is anticipated to grow at the highest CAGR. The Middle East & Africa region's growing investments in cutting-edge storage solutions by telecom carriers and financial institutions are responsible for this expansion. Also, the need for modern data storage solutions has increased since the oil and gas industry, one of the biggest producers of oil and gas in this region, needs these solutions to interpret seismic data. The expansion of the NVMe market in RoW is also being fueled by an increase in spending on IT infrastructure and an increase in demand for smart devices as a result of IoT and social media development.
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